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SM comfortable with minority ownership in other companies

The SM Group, which has been acquiring a wide range of businesses through the years, is willing to take minority positions in companies and just allow partners to grow the business......»»

Category: financeSource: philstar philstarOct 12th, 2018

SBS invests in property holding firms

MANILA, Philippines – Chemical firm SBS Philippines Corp., is investing minority ownership stakes in affiliate investment holding companies for its real esta.....»»

Category: financeSource:  philstarRelated NewsNov 29th, 2016

AP interview: Rosberg expects F1 merger with electric series

By Rob Harris, Associated Press Highlighting fresh concerns about global warming, Nico Rosberg foresees an eventual merger between the fuel-guzzling Formula One championship and the more environmentally friendly, electric motorsport series. The German driver retired from F1 after winning his only title in 2016, and he has since invested in the four-year-old Formula E championship, which he said is now worth 750 million euros ($870 million). While F1 remains more attractive to sponsors and fans, the upstart series is showing increasing commercial appeal. Heineken, which already sponsors F1, was announced on Monday as the official beer and cider backer of the electric street racing championship under a five-year deal. That unified approach to marketing across both series points to a future where they join forces. "Maybe we will never even get to that point (where Formula E is bigger than F1) and we will just see a merger between Formula One and Formula E before that," Rosberg said in a telephone interview with The Associated Press on Monday. "When the moment comes that Formula One needs to go electric, which will happen, maybe you will just see a merger then." They already share ownership through American entertainment and broadcasting magnate John Malone's companies. Liberty Global was already the biggest shareholder in Formula E when Liberty Media bought F1 in 2017. "The step for Formula One to go electric will be a big and difficult one," Rosberg said. "If that ever happens." It might become inevitable, with a fast-warming planet to be protected, and sports conscious of its role. The Intergovernmental Panel on Climate Change issued a gloomy report last week which said the difference between life and death for multitudes of people around the world could be whether world leaders find a way to reduce future warming caused by humans by less than a single degree Fahrenheit. "It's a real problem out there in the world and we need to do what we can as fast as possible to help all together," Rosberg said. "If the whole world is selling and driving electric cars," he added, "it doesn't make sense for Formula One to be combustion engines, so that moment will come. The advantage is that Formula One and Formula E have the same owner." Although the cars are quieter compared to the ear-splitting, fuel-guzzling engines in F1, the new Gen 2 models which run faster and longer have been introduced. Nissan and BMW will be debuting on the grid when the fifth Formula E championship begins in Saudi Arabia in December. There has also been a high-profile signing for the series: Former F1 driver Felipe Massa racing for Venturi, the Monaco-based team co-owned by actor Leonardo Di Caprio. Stoffel Vandoorne announced on Monday he is also making the switch from F1, joining the Mercedes-linked HWA Racelab Formula E team after leaving McLaren at the end of this season. Rosberg is already looking forward to the following season when Mercedes-Benz and Porsche appear on the grid. "That will be a spectacle everyone will want to watch," Rosberg said. "They need to showcase their electric technology in Formula E. None of them can afford to lose.".....»»

Category: sportsSource:  abscbnRelated NewsOct 16th, 2018

Britain mulls making firms disclose ethnicity pay gap

LONDON --- The British government is considering making companies reveal the pay gap between white and non-white workers, in a bid to end disadvantages faced by employees from ethnic minorities. Prime Minister Theresa May says revealing the figures might "uncover some uncomfortable truths." She says "too often ethnic minority employees feel they're hitting a brick wall when it comes to career progression." Last year the government told companies with 250 or more employees to disclose the difference in median wages between men and women. The government said Thursday that businesses including accountants KPMG, advertising firm Saatchi & Saatchi and the civil service had si...Keep on reading: Britain mulls making firms disclose ethnicity pay gap.....»»

Category: newsSource:  inquirerRelated NewsOct 11th, 2018

Listed companies public only in name

As of July 13, 2018, Ayala Corp. (AC) had 621.817 million outstanding common shares. As the holder of 296.626 million AC common shares, or 47.703 percent, Mermac Inc. is supposed to be the majority stockholder. The public ownership report (POR) as of said cut-off date tells a different story. Public stockholders own 321.104 million AC [...] The post Listed companies public only in name appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsOct 2nd, 2018

30 Teams in 30 Days: After wholesale makeover, Hawks ready to rebuild

By Shaun Powell, NBA.com What offseason? That's a question many fans ask as the flurry of trades, free agent news and player movement seems to never stop during the summer. Since the Golden State Warriors claimed their third title in four years back on June 8 (June 9, PHL time), NBA teams have undergone a massive number of changes as they prepare for the season ahead. With the opening of training camps just around the corner, NBA.com's Shaun Powell will evaluate the state of each franchise as it sits today -- from the team with the worst regular-season record in 2017-18 to the team with the best regular-season record -- as we look at 30 teams in 30 days. * * * Today's team: Atlanta Hawks 2017-18 Record: (24-58, did not qualify for the playoffs) Who's new: Coach Lloyd Pierce, Trae Young (Draft), Kevin Huerter (Draft), Omari Spellman (Draft), Jeremy Lin (trade), Justin Anderson (trade), Alex Len (free agency), Vince Carter (free agency) Who's gone: Coach Mike Budenholzer, Dennis Schroder, Mike Muscala The lowdown: Three years after winning a conference-best 60 games, the Hawks crash-landed and clearly set their sights on the Draft lottery by the 2018 All-Star break. New GM Travis Schlenk dumped Marco Belinelli and Ersan Ilasova at the trade deadline and would’ve shipped off a few more players if he could. Basically, Schlenk attempted to scrub most of the work of Budenholzer, who ran the basketball operation previously. John Collins made the All-Rookie team and Taurean Prince finished strong. However, Kent Bazemore -- the club’s highest-paid player -- sputtered and never felt comfortable being a volume scorer (12.9 points per game). The Hawks couldn’t win or generate much interest in Atlanta, putting the framework for a fresh era in place well before 2017-18 ended. The Hawks held the No. 3 overall pick in the 2018 Draft. Deandre Ayton and Marvin Bagley III were off the board. What say you, Mr. Schlenk? He made a gutsy move, bypassing European sensation Luka Doncic in favor of Young and a 2019 protected first from the Mavericks. Schlenk admitted the Hawks’ war room was evenly split on Doncic and Young, but the ’19 first-rounder was the deal-maker. That’s not an overwhelming vote of confidence for Young, and you wonder if Hawks ownership nudged Schlenk into making the deal because of Young’s star potential. The organization dropped millions to give the newly-renamed State Farm Arena some bling over the last year and obviously crave a player with flair to move the needle in Atlanta. Young certainly brings a wow factor. He was the box office star at Oklahoma with his long-range shots and fancy passes. He also became the first collegiate player to lead the nation in scoring and assists in the same season. The Hawks say his ability to make teammates better is vastly unappreciated and will smooth his transition into the NBA. He also had a ragged second half of last season and became a social media punch line. His shot selection and accuracy raised red flags. In a sense, his final year at OU was a tale of two players: Tantalizing Trae and Tragic Trae. NBA scouts say Young's other drawbacks were his lack of size, athletic ability and defense. He was a polarizing Draft pick and the Hawks’ decision received mixed reviews at best among Hawks fans. That additional first-round pick Atlanta got from Dallas could prove beneficial for a rebuilding team that wants to collect as many assets as possible. The idea of Young becoming an Atlanta Basketball Jesus seems like a reach ... until you remember this franchise hasn’t had a ticket-selling sensation in its history. Even Pete Maravich and Dominique Wilkins weren’t basketball magnets in this college football-crazed town. With a new basketball regime in place, it was only a matter of time before Budenholzer, stripped of his basketball operations stripes, would bolt. Schlenk wanted his own people, which is standard operating procedure for a new GM. Once the season ended, Budenholzer began running off copies of his resume with the blessing of the Hawks. He landed in Milwaukee and Schlenk began searching for Budenholzer's successor. Eventually, Schlenk stayed in his comfort zone and hired Pierce. (Years ago, they both worked for the Golden State Warriors.) Pierce came with strong reviews for his work as an assistant coach, most recently with the Sixers. As a player, he rode shotgun in college at Santa Clara with Steve Nash and brings solid people skills to Atlanta. He is, however, a first-time coach and sometimes, it gets tricky when folks slide one seat over on the bench. It was no secret the Hawks wanted to jettison starting point guard and leading scorer Schroder this summer. He had legal issues and didn’t develop solid chemistry with his teammates. When the Thunder agreed to a proposal, the Hawks pounced, sending Schroder to OKC for Carmelo Anthony (who was subsequently bought out), Justin Anderson and a future first-rounder. Of course, this means the Hawks will either go with a rookie as their starting point guard or Lin (who’s should be healthy for training camp after he missed all but one game last season.) With their additional first-round pick this year, the Hawks took Huerter, a sharp-shooter from Maryland. Right now they’re getting nothing special offensively from the swing position and Huerter will get a long look as a rotational player. In order to help a young locker room adjust, the Hawks added 41-year-old Carter (who was a rookie when Young was born). Carter has become a lovable NBA senior citizen, which allows folks to overlook his declining skills. His veteran voice will help when the Hawks endure a losing streak. Still, the summer belonged to the deal the Hawks swung for Young. It’s one of those decisions that could make Schlenk look like a genius, especially if he scores big on the 2019 Dallas pick and Young pans out. The flip side? Doncic becomes the transcendent star in Dallas that the Hawks craved. The final verdict on this deal won’t be delivered for years. By then, will the Hawks be winners? Veteran NBA writer Shaun Powell has worked for newspapers and other publications for more than 25 years. You can e-mail him here or follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting. .....»»

Category: sportsSource:  abscbnRelated NewsSep 5th, 2018

Are Filipinos still in control of MPIC board?

THE Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) may want to change the system of scrutinizing the ownership of listed companies. Instead of relying on the ownership of the number of common and voting preferred shares, they could, if they wanted to, scrutinize the composition of the boards for them to [...] The post Are Filipinos still in control of MPIC board? appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJul 20th, 2018

The clash: World Cup, Wimbledon men s finals could overlap

By Howard Fendrich and Ronald Blum, Associated Press MOSCOW (AP) — Roger Federer almost sounded offended when asked whether he would be concerned about Centre Court spectators paying too much attention to the World Cup final during the Wimbledon men's singles final. "I'm more concerned the World Cup final will have issues because the Wimbledon final is going on," he quipped. "They'll hear every point, 'Wow, love-15, 15-30.' The players are going to look up in the crowd and not understand what's going on at Wimbledon." "That's how important Wimbledon is to me," the eight-time champion said, before he was eliminated in the quarterfinals this week, "and to us over here." What's a viewer to choose this Sunday? The Wimbledon final between the man who beat Federer, Kevin Anderson, and Rafael Nadal or Novak Djokovic could be only about halfway done in London when the World Cup final between France and Croatia kicks off in Moscow. This year's soccer final starts at 11 a.m. EDT, an unusual time: nine of the 10 World Cup finals from 1978 through 2014 started in the 2-3:30 p.m. EDT range. The exception was the 2002 finale in Japan, which began at 7 a.m. EDT. "I'm sure the change they made was to maximize their audience worldwide, considering the time in China, Japan, Russia, all the other major countries," said former CBS Sports President Neal Pilson, now an industry consultant. The soccer game begins at 6 p.m. local time at Luzhniki Stadium, which is 5 p.m. in Paris and Zagreb. The shift appears aimed at soccer's ever-increasing Asian audience, with the start time at 11 p.m. in Tokyo and midnight in Beijing. Four of FIFA's 11 top-level partners and sponsors are Chinese companies. "The kickoff times for the FIFA World Cup were set in cooperation with a range of stakeholders and taking into account a number of aspects such as the global broadcast market and feasibility for the fans — both in terms of attending the matches and reaching a wide TV audience," soccer's governing body said in an email to The Associated Press. In the U.S., the soccer is on Fox and the tennis on ESPN. In Britain, the soccer is on both BBC1 and ITV, and the tennis on BBC1. Tennis would switch to BBC2 if the finals overlap. "In due respect to the All England Club, the finals of Wimbledon is a blip on the radar when you're talking about the World Cup final," Pilson said. "It's unfortunate, and it does hurt in the United States, where tennis has a significant audience." Dates for the World Cup final have ranged from June 10 to July 30, and each has been on a Sunday except for the first tournament in Uruguay in 1930, played on a Wednesday, and the 1966 tournament in England, which finished on a Saturday at Wembley. The Wimbledon's men's singles final was scheduled for a Saturday through 1981. The World Cup final has twice been the same day as the men's singles final, on July 8, 1990, in Rome, and on July 9, 2006, in Berlin. Those soccer matches started at 8 p.m. local time (2 p.m. EDT), about two hours after the tennis ended: Stefan Edberg's 6-2, 6-2, 3-6, 3-6, 6-4 win over Boris Becker in 1990, and Federer's 6-0, 7-6 (5), 6-7 (2), 6-3 win over Nadal in 2006. The roots of this year's conflict go back six years. The All England Club announced in July 2012 that it would increase the time between the end of the French Open and the start of Wimbledon from two weeks to three starting in 2015, allowing players extra time to adjust to the switch from clay courts to grass. FIFA's executive council announced World Cup kickoff times in December 2015. Wimbledon never had any intent to alter the start time of its final, traditionally about 2:10 p.m. local (9:10 a.m. EDT). Its large-screen videoboard on Henman Hill will remain tuned to tennis. Pressure for a shift would have increased had England beaten Croatia and advanced to its first final since winning the World Cup in 1966. "We're very comfortable with the long-term view that we take," said Richard Lewis, chief executive of the All England Club. "We're not driven by short-term decisions, whether it be TV ratings or sponsorship. Wimbledon takes a long-term view. (The World Cup) is for this year. It's a one-year happening. And for the future, we'll still be at 2 o'clock on the Sunday. Nothing changes, from our point of view." ___ Fendrich reported from London......»»

Category: sportsSource:  abscbnRelated NewsJul 14th, 2018

Ownership caps intact in some sectors

THE proposed new constitution will keep restrictions on foreign ownership of companies, land and public utilities, but ease limits in media and advertising, according to a draft of the charter released on Monday......»»

Category: financeSource:  bworldonlineRelated NewsJul 9th, 2018

Public stockholders deserve board seats

WHY do the public ownership reports (POR) posted on the website of the Philippine Stock Exchange (PSE) sometimes show the public as significant stockholders? It’s even worse when they’re treated in PORs as principal stockholders when they are not. As Due Diligencer has long been advocating in this space, the public stockholders of listed companies should be [...] The post Public stockholders deserve board seats appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJul 5th, 2018

U.S. plans limits on Chinese investment in U.S. technology firms

 WASHINGTON – The U.S. Treasury Department is crafting rules that would block firms with at least 25 percent Chinese ownership from buying U.S. companies in “industrially significant” technologies, the Wall Street Journal reported on Sunday. Citing people familiar with the matter, the newspaper said the U.S. National Security Council and Commerce Department were also devising […].....»»

Category: newsSource:  interaksyonRelated NewsJun 25th, 2018

PBA: Alaska grabs share of top spot after fending off NLEX

  Alaska took shared ownership of the top seed after overcoming NLEX, 120-111, in the 2018 PBA Commissioner's Cup Friday at Mall of Asia Arena. The Aces bumped their winning streak to seven games and improved to a 7-1 record, tying Rain or Shine at the head of the standings while the Road Warriors dropped to 2-7. After a relatively comfortable first quarter where they led 28-14, the Aces got a dose of reality in the next two periods when the Road Warriors became the aggressor and ended the third trailing by just two, 88-86. NLEX then pushed further at the start of the fourth with a 7-0 run to take a 93-88 lead after Arnett Moultrie's jumper. Alaska countered with ...Keep on reading: PBA: Alaska grabs share of top spot after fending off NLEX.....»»

Category: newsSource:  inquirerRelated NewsJun 15th, 2018

What does Primex have in store for the public?

THE public stockholders of Primex Corp. may find it hard to find the company’s corporate stockholders because these are all attributed individually to the members of the Ang family. To solve the dilemma, Due Diligencer is adopting the format of the public ownership reports (POR) of other listed companies. In these filings, corporate stockholders are [...] The post What does Primex have in store for the public? appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 14th, 2018

Hope Solo says don t vote for US World Cup bid

By Rob Harris, Associated Press LONDON (AP) — A World Cup winner and Olympic champion with the United States, Hope Solo now wants her country to lose one of its biggest soccer contests: FIFA's vote on the 2026 World Cup host. "I can't say it should be awarded to Morocco," Solo told The Associated Press. "But I don't think it should go to the United States, and that's hard to say." Concerns about the financial dealings of the United States Soccer Federation and the closed men's league system led Solo to that conclusion. By choosing to actively campaign against the U.S.-led North America bid, Solo risks alienating herself further from the soccer community in her homeland. The bid leadership was exasperated when informed Solo was undermining their efforts heading into Wednesday's vote, dismissing her criticism of the governance of soccer but declining to go on the record in detail. This is not an isolated eruption against U.S. Soccer. Solo has reason to be disgruntled. After 202 international appearances — a record for an American goalkeeper — Solo was fired over an outburst at the 2016 Olympics against the opposition and a series of off-the-field controversies. In an attempt to take control of the organization that ostracized her, Solo ran for the U.S. Soccer Federation (USSF) presidency in February. There was a resounding verdict: Solo garnered only 1.4 percent of the vote to finish last out of five candidates. Solo still wants to be heard to try to secure equal pay and equal treatment for the U.S. women's team, and force Major League Soccer to open up the closed competition. Her gripes provide a counterpoint to the loyal championing of the American World Cup bid by David Beckham in a video released by MLS, where the former England captain is launching a team in Miami. That is only possible because Beckham secured a cut-price deal for an expansion franchise as part of his contract to play for the Los Angeles Galaxy. "That is not helping the sport in America," Solo said. "I want to see promotion-relegation in the NASL and the MLS. Right now it's true, you have rich ownership groups owning MLS teams and they're only getting richer and they're alienating everybody else. "A new ownership group can't just come in and purchase a team even though they have the financial security, even though they have the commitment. It's controlled by those single individuals at Soccer United Marketing, MLS in particular, (Commissioner) Don Garber." FIFA's statutes enshrine the principle of a system of promotion and relegation in domestic competitions to ensure participation "shall depend principally on sporting merit." The regulations then say that qualification can be subject to other criteria including "financial considerations." MLS stridently defended itself against Solo's criticism, saying team owners have invested more than $3 billion in stadium and training facilities to grow the sport because it's a closed league. "The structure that we have has given owners certainty to make that type of investment," MLS President and Deputy Commissioner Mark Abbott told the AP. "Had we had a system of promotion and relegation it would not have been possible to generate that level of investment from owners, local communities or private banks that help to fund some of these facilities." Solo also questioned Garber's role overseeing MLS and Soccer United Marketing, which is the exclusive marketing partner of U.S. Soccer, while also sitting on the USSF board. "There are too many conflicts of interest that need to be addressed immediately," Solo said. Garber represents MLS on the U.S. Soccer board but recuses himself from discussions about the "sanctioning of other professional leagues in the U.S.," Abbott responded on behalf of the commissioner. Turning on the USSF, Solo said the organization lacks integrity and highlights the absence of an independent ethics committee, which FIFA has. She also filed a claim with the U.S. Olympic Committee, saying the USSF violates a law that offers protections for athletes, alleging improper conditions for soccer players. "If you're an Olympic sport, your national governing body, every NGB has an obligation to give resources and funds to all of its members, not just professional and amateur players or Paralympic team women's teams or youth teams," Solo said. "But what U.S. Soccer does is they give the money directly to the pro teams. So it's in violation of the Ted Stevens Act and I have a hearing in a couple weeks in front of the Olympic Committee. "I also met with Congress members recently. I went to Capitol Hill, met with Republicans and Democrats, and there's a lot of interest to make sure that U.S. Soccer is an organization that actually is run transparently, has integrity and is an open and honest national governing body." Up to 207 soccer federations will vote next Wednesday in Moscow on whether North America or Morocco should host the 2026 World Cup, or the bidding should be reopened by choosing "none of the above." In FIFA's inspections report, North America's bid, which includes Canada and Mexico as minority partners, scored 402 out of 500, while Morocco was marked 275 in part due to a lack of infrastructure. "Hopefully FIFA can stand up and step in and say, 'If we're going to reward you, let's look at everything and point out where you can fix certain things,'" Solo said. Her call for greater transparency from the USSF came after speaking at the London launch conference for the Foundation for Sports Integrity, which has one named official who would not disclose the source of funding for the group or who paid to hire lavish facilities at a Four Seasons hotel. "I want to put my faith and trust in people," Solo said. "Who's funding it? That's no different from the way a lot of organizations are run.".....»»

Category: sportsSource:  abscbnRelated NewsJun 8th, 2018

PCC clears Udenna’s 2GO acquisition

The Philippine Competition Commission has approved Udenna Corp.’s acquisition of a Dutch company which holds minority ownership in logistics giant 2Go Group, after initially nullifying the deal last February......»»

Category: financeSource:  philstarRelated NewsMay 7th, 2018

Include preferred shares in public ownership reports

AN EXISTING rule supposedly monitored by the Securities and Exchange Commission (SEC) requires listed companies to sell at least 10 percent of its outstanding capital stock to public investors. Whether or not the 10-percent minimum public ownership (10 percent MPO) rule is strictly followed is the question that begs an answer. Should this minimum public [...] The post Include preferred shares in public ownership reports appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsApr 27th, 2018

AC venture unit to target emerging, disruptive technologies

By Krista Angela M. Montealegre, National Correspondent AYALA Corp. (AC) said its venture unit will take the lead in identifying companies developing emerging and potentially disruptive technologies, with a mandate to invest $250 million by taking minority positions. AC Chief Financial Officer Jose Teodoro K. Limcaoco said in a briefing that about $150 million has […] The post AC venture unit to target emerging, disruptive technologies appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 20th, 2018

PH telco sector needs revamp to improve Internet services – report

DAVAO CITY (MindaNews / 10 April) – Revamping the telecommunications sector is needed to address poor Internet services in Mindanao caused by lack of competition and the restrictions imposed on foreign ownership, a World Bank-funded Mindanao Jobs Report 2017 said. The country’s telecommunications industry is controlled by two giant companies referred to as duopoly, due […] The post PH telco sector needs revamp to improve Internet services – report appeared first on MindaNews......»»

Category: newsSource:  mindanewsRelated NewsApr 10th, 2018

Bigger, modern, world-class airport: vision of NAIA by super-consortium

A bigger, more modern, world-class and comfortable airport - that is the vision for the Ninoy Aquino International Airport by a super-consortium of some of the country's biggest companies as they unveiled more details of their proposal on Wednesday......»»

Category: newsSource:  interaksyonRelated NewsMar 21st, 2018

Mart volatility weighs on public float hike

THE SECURITIES and Exchange Commission (SEC) still plans to raise the minimum public ownership (MPO) requirement of publicly listed companies by yearend, but recent market volatility has made corporate regulators cautious for now. “For the existing companies, we plan to raise it to 15%. But we’re still studying the matter because unfortunately the market is […] The post Mart volatility weighs on public float hike appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsFeb 26th, 2018

Market volatility can’t absorb MPO increase — SEC chief

The Securities and Exchange Commission (SEC) plans to raise the minimum public ownership (MPO) of publicly listed companies by the end of 2018, but has yet to release guidelines on how these firms should comply due to the volatility in the market. “For the existing companies, we plan to raise it to 15%. But we’re […] The post Market volatility can’t absorb MPO increase — SEC chief appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsFeb 25th, 2018