Startups shift focus to survival as COVID-19 uncertainty looms

In the world of venture-backed startups, cash burn rates, revenue forecasts and growth projections usually dominate. But the realization that the COVID-19 pandemic could have dire economic consequences has founders focusing on a more urgent task: survival. Andrew Wells, founder of Pinch Financial, an online platform for automating the mortgage-qualification process, said he’s trying to figure out how to get through the next 12 months. “Typically startups try to plan a runway of six to…

"Startups shift focus to survival as COVID-19 uncertainty looms"

2Go cancels trips to and from Manila

SHIPPING and logistics provider 2Go Group, Inc. announced on Friday the cancellation of its voyages to and from Manila from March 15 in view of President Rodrigo R. Duterte’s “community quarantine” directive in Metro Manila. “For now, voyages to and from Manila from March 15 are cancelled. We are monitoring government advisories on a daily basis and once clearance is provided, we will resume normal operations,” 2Go said in an advisory. It said the cancellation…

"2Go cancels trips to and from Manila"

What it’s like working for Elon Musk

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"What it’s like working for Elon Musk"

‘Disastrous’: Seniors face double threat from pandemic as retirement portfolios walloped by markets in turmoil

The stock market rout sparked by the novel coronavirus pandemic is placing an additional stress on Canadian retirees who may face a double-digit hit to their retirement accounts on top of the health threats posed by the virus. “Negative returns for investors in a period when withdrawals are being made from the underlying investments … increases the risk that they will run out of money during retirement,” said John Natale, head of tax, retirement and…

"‘Disastrous’: Seniors face double threat from pandemic as retirement portfolios walloped by markets in turmoil"

U.S. stocks jump 6% after worst drop since Black Monday

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"U.S. stocks jump 6% after worst drop since Black Monday"

JFC inks deal to expand Tim Ho Wan in China

TIM HO WAN is set to open its flagship store in China after Jollibee Foods Corp.’s (JFC) Shanghai-based joint venture Hong Yun Hong Food and Beverages Management Co. Ltd. has secured a franchise deal to expand the Hong Kong-based dim sum business in the mainland. JFC announced on Friday that its joint venture with Dim Sum Pte. Ltd. through its wholly owned subsidiary Golden Plate Pte. Ltd. has signed a unit franchise agreement with Tim…

"JFC inks deal to expand Tim Ho Wan in China"

Nickel Asia posts 11% income slide

NICKEL ASIA Corp. reported an 11% decline in attributable net income last year to P2.68 billion after the listed miner and ore exporter recorded a drop in its share from two mining investments. In a disclosure to the stock exchange on Friday, the company said its share of equity in the net income of Taganito HPAL Nickel Corp. and Coral Bay Nickel Corp. decreased to P10 million in 2019, or much lower than the P348…

"Nickel Asia posts 11% income slide"

NEA collects P2.3-B in loan payments from co-ops in 2019

THE National Electrification Administration (NEA) said loan payments from electric cooperatives (ECs) in 2019 totaled P2.297 billion, beating the target by 15% and exceeding the 2018 total of P2.263 billion. It said the result was propped up by some prepayment activity by ECs. “The early payment of outstanding loans by some ECs amounting to P94.35 million and increase in advance payment made by ECs of P283 million contributed to the attainment of high collection efficiency,”…

"NEA collects P2.3-B in loan payments from co-ops in 2019"

PAL, AirAsia cancel flights after Metro Manila ‘quarantine’

By Arjay L. Balinbin, Reporter FLAG carrier Philippine Airlines (PAL) and budget carrier Philippines AirAsia, Inc. announced on Friday the cancellation of hundreds of their domestic flights to and from Manila from March 15 to April 14 in view of the implementation of President Rodrigo R. Duterte’s “community quarantine” order. PAL, operated by PAL Holdings, Inc., said in an advisory that it was cancelling its domestic air travel to and from Manila during the said…

"PAL, AirAsia cancel flights after Metro Manila ‘quarantine’"

83% of Internet-connected medical imaging machines in the U.S. are ripe for hacking, report says

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"83% of Internet-connected medical imaging machines in the U.S. are ripe for hacking, report says"