Liberty’s parent co. ‘raring to go’ on building upon its AT&T acquisition
November 9, 2020
A few days after closing its $1.95 billion all-cash acquisition of AT&T Puerto Rico’s local and U.S. Virgin Islands assets, Liberty Latin America is “raring to go” on building upon what the new assets will bring to local subsidiary Liberty Puerto Rico. In a conference call to discuss its third quarter results, Liberty Latin America CEO […]
chat_bubble0 Comment
visibility2046 Views
Puerto Rico bankruptcy filings -31% year-over-year in October
November 5, 2020
The U.S. Bankruptcy Court in Puerto Rico saw a whopping 31% drop in activity in October, when 419 cases were filed, in comparison to the 762 cases filed for the same month last year. During the first 10 months of the year, filings dropped by 32.7% to 4,342 cases, when compared to the 6,452 petitions […]
chat_bubble0 Comment
visibility1357 Views
Liberty Latin America adds 1M new customers as part of AT&T acquisition
November 3, 2020
Liberty Latin America completed its acquisition of AT&T’s wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands over the weekend, in a deal worth $1.95 billion and that will add more than 1 million wireless subscribers and contracts to the new owner’s footprint. The deal also includes AT&T’s estimated 1,300 employees; network […]
chat_bubble0 Comment
visibility2947 Views
Liberty, Claro get $127M in FCC funding to blanket island with broadband
November 2, 2020
The Federal Communications Commission announced it has selected Liberty Puerto Rico and Claro Puerto Rico to receive a combined $127 million in funding through its Uniendo a Puerto Rico Fund to deploy broadband connectivity throughout the island. The companies participated in the FCC’s competitive Stage 2 funding round, which will allocate the money over 10 […]
chat_bubble0 Comment
visibility3420 Views
Study: Political tradition at stake during Puerto Rico’s general elections
November 2, 2020
As Puerto Ricans exercise their right to vote in tomorrow’s general elections, many eyes will be fixed on how the chain of events that have hit the island since the last cycle — including the hurricanes, political crises and the failed primaries, as well as the COVID-19 pandemic — will affect the so-called political tradition. […]
chat_bubble0 Comment
visibility1623 Views
First BanCorp moving forward on integrating Santander operations in Puerto Rico
November 2, 2020
In the 45 days since it completed its acquisition of Banco Santander de Puerto Rico’s assets, First BanCorp has made strides in the integration of both operations, having already completed the conversion of the mortgage business, the insurance agency, and several administrative duties. The plan is to complete the integration process by the end of […]
chat_bubble0 Comment
visibility2060 Views
Evertec reports $137M in 3Q20 revenue, up 15% Y-O-Y
November 2, 2020
Financial transactions processing firm Evertec reported total revenue for the quarter ended Sept. 30, 2020 of $136.5 million, an increase of 15% compared with $118.8 million in the prior year. The company attributed the revenue increase in the quarter to sales volume growth and a “high average ticket” as businesses reopened in Puerto Rico following […]
chat_bubble0 Comment
visibility1099 Views
10 towns get failing grades on fiscal performance, ABRE Puerto Rico says
October 30, 2020
The sixth edition of ABRE Puerto Rico’s Fiscal Health Index revealed that eight municipalities scored an “A” for the handling of their finances, while 10 towns were on the opposite end of the spectrum, with a failing grade. The index follows 13 indicators based on information derived from the municipality’s audited financial statements to rank […]
chat_bubble0 Comment
visibility2321 Views
Popular Inc. reports $168.4M in 3Q20 net income; Closing 11 NY branches
October 29, 2020
Popular Inc. reported net income of $168.4 million for the quarter ended Sept. 30, 2020, up from net income of $127.6 million for the quarter ended June 30, 2020, but flat when compared to the $164.3 million reported during the third quarter in 2019. “We generated $168.4 million in earnings in the third quarter, reflecting […]
chat_bubble0 Comment
visibility1688 Views
Oriental CEO: Puerto Rico seeing ‘beginnings of an economic rebound’
October 26, 2020
Puerto Rico is starting to see the “beginnings of an economic rebound,” as the effects of the influx of federal economic aid and the possibility of the return of pharmaceutical companies are putting the island in a better position heading forward. That optimism is there for José Rafael Fernández, CEO of OFG Bancorp, the financial […]
chat_bubble0 Comment
visibility2007 Views
Gov’t gets $90M to pay for internet service for public school students, teachers
October 20, 2020
Puerto Rico Gov. Wanda Vázquez announced the allocation of $90 million in federal funds to subsidize the cost of internet connections for all public school students and teachers, which they will be able to request through Nov. 30, 2020. The aid, available through the CARES Act, will be up to $400 per participant and will […]
chat_bubble0 Comment
visibility1766 Views
Puerto Rico schools and libraries to get $5.3M to expand broadband
October 15, 2020
Several hundred Puerto Rico-based schools, municipalities and nonprofits will receive more than $5.5 million from the Federal Communications Commission’s E-Rate funding program to boost broadband services. The program is part of the Universal Service Fund, which has opened two funding windows so far this year. During the first round, the agency received 361 funding requests […]
chat_bubble0 Comment
visibility1576 Views
eBay’s ‘Entrepreneurs of the Year Awards’ recognize Puerto Rican business owner
October 14, 2020
Online marketplace eBay recently held the second edition of its “Entrepreneurs of the Year Awards,” which this year included a Puerto Rican business owner among the winners. Local entrepreneur Iván Blázquez received the “New Business Award” for creating Tropical Plantae, an agricultural company located in Aguadilla deemed “the most successful new business on the platform, […]
chat_bubble0 Comment
visibility2200 Views
32K+ SBA PPP loans granted in Puerto Rico eligible for simpler forgiveness process
October 12, 2020
The U.S. Small Business Administration, in consultation with the Treasury Department released a simpler loan forgiveness application late last week for Paycheck Protection Program (PPP) loans of $50,000 or less. This decision could affect a little more than 32,000 PPP loans granted in Puerto Rico, according to SBA data released earlier this year. This action […]
chat_bubble0 Comment
visibility1719 Views
Puerto Rico’s new car sales have taken deeper dive during pandemic vs. US
October 12, 2020
Puerto Rico’s new car market showed a deeper contraction than that of the U.S. mainland from March to May — the peak quarantine months to curb the COVID-19 pandemic — but the local market has recovered much faster since then, according to a study by Abexus Analytics. According to the firm’s research entitled “Economic Trends […]
chat_bubble0 Comment
visibility3625 Views
A Dow Jones/Factiva content provider since 2014
Subscribe to our Dollars & Sense podcast!
NIMB ON SOCIAL MEDIA