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British retail giant Tesco is paying a Chinese state-owned company $558 million to take over its supermarkets in China after failing to make headway on its own since entering the country a decade ago.

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Philippine Rating Services Corp.,  the local affiliate of  credit rating agency Standard & Poor’s, said the Bonifacio Global City developer had withdrawn its STCP application with the Securities and Exchange Commission, prompting Philratings to similarly retract its PRS 3 rating on FBDC. 


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HOME DEPOT INC

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                    [Title] => UK's Tesco in $558M China supermarket tie-up
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                    [Title] => Tens of thousands more layoffs are announced
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                    [Title] => FBDC withdraws P330-M issue due to debt restructuring plan
                    [Summary] => Fort Bonifacio Development Corp. (FBDC) has withdrawn the issuance of P330-million worth of short-term commercial papers (STCPs) due to a new debt restructuring plan being worked out with its creditors. 


Philippine Rating Services Corp.,  the local affiliate of  credit rating agency Standard & Poor’s, said the Bonifacio Global City developer had withdrawn its STCP application with the Securities and Exchange Commission, prompting Philratings to similarly retract its PRS 3 rating on FBDC. 


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abtest

UK's Tesco in $558M China supermarket tie-up

By Kelvin Chan | October 3, 2013 - 3:45am

British retail giant Tesco is paying a Chinese state-owned company $558 million to take over its supermarkets in China after failing to make headway on its own since entering the country a decade ago.

World

Dow tumbles on weak employment data

January 15, 2011 - 12:00am

Stocks dipped Thursday after a report found that more people applied for unemployment benefits last week.

Business

US stocks rise on earnings, economic reports

August 19, 2010 - 12:00am

NEW YORK (AP) – Investors regained some enthusiasm for stocks Tuesday, sending prices sharply higher after reports showed a slight improvement in the housing market and a big jump in industrial production...

Business

European, US markets pause despite big Asia gains

February 23, 2010 - 1:00am

European and US stock markets fell modestly yesterday despite earlier big gains in Asia, as investors awaited key testimony from US Federal Reserve chairman Ben Bernanke and further developments in the Greek debt...

Oil above $79 after US crude supply drop

November 18, 2009 - 1:16pm

SINGAPORE (AP) – Oil prices extended gains above $79 a barrel Wednesday in Asia after an unexpected drop in US crude supplies suggested demand could be improving.

Weak job market could hamper US recovery

August 22, 2009 - 12:00am

WASHINGTON (AP)- The job market is thawing at a snail’s pace, raising doubts about whether consumer spending will become vigorous enough to sustain an economic recovery anytime soon.

Business

US Government says 'mass layoffs' soared in January

February 26, 2009 - 3:07am

WASHINGTON (AP) – Employers took a large ax to their payrolls in January, the government said yesterday, and the cuts are likely to get worse over the next few months.

Tens of thousands more layoffs are announced

January 27, 2009 - 3:04am

WASHINGTON (AP) – It's already been a lousy year for workers less than a month into 2009 and there's no relief in sight. Tens of thousands of fresh layoffs were announced Monday and more companies are expected...

FBDC withdraws P330-M issue due to debt restructuring plan

By Zinnia B. Dela Peña | August 24, 2003 - 12:00am

Fort Bonifacio Development Corp. (FBDC) has withdrawn the issuance of P330-million worth of short-term commercial papers (STCPs) due to a new debt restructuring plan being worked out with its creditors. Philippine...

Business