Alphabet disappoints on sales as ad business slips after pandemic run-up

1 month ago Inquirer Business

Alphabet Inc on Thursday posted fourth-quarter profit and sales short of Wall Street expectations as Google’s advertising clients pulled back spending from a period of pandemic-led excess. ADVERTISEMENTShares of Alphabet were down nearly 5 percent in after-hours trading, after losing about 40 percent of their value in 2022. Net income fell to $13.62 billion, or $1.05 per share, from $20.64 billion, or $1.53 per share, a year earlier. Adjusted profit of $1.05 per share fell short of an expected $1.18 per share, according to Refinitiv. Revenue from Google advertising, which includes Search and YouTube, fell 3.6 percent to $59.04 billion.
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Phinma new leadership to continue core business strategy

Diversified conglomerate Phinma Corp.’s new leaders pledged to continue the company’s long-tradition of “making lives better” while capturing new opportunities in the postpandemic period. The company underscored the expansion of its education arm, which completed the acquisition of Phinma Union College of Laguna in 2021. Phinma Education had over 124,000 students across nine schools in the Philippines and Indonesia as of September this year. Del Rosario described their strategy as seeking “gaps” in society where the company could contribute while achieving their business goals. The company is present in the construction materials segment via Union Galvasteel Corp., Philcement Corp., and Phinma Solar Energy Corp.

5 months ago Inquirer Business

Chip stocks hammered in Asia, dollar firms on hawkish Fed

TOKYO – Chip stocks took a beating on Thursday, sending most Asian share indexes lower, after grim signals from Micron Technology overnight about excess inventories and sluggish demand. Meanwhile, the U.S. dollar rebounded after stronger-than-expected U.S. retail sales suggested the Federal Reserve was unlikely to ease up in its battle with inflation. Hong Kong’s Hang Seng Index tumbled 2.1 percent, with its tech stocks slipping more than 4%. Japan’s Nikkei lost 0.3% and South Korea’s Kospi dropped 1.1 percent, each led by declines in heavyweight chip players. The U.S. dollar index – which measures the currency against six major counterparts – added 0.13 percent to 106.41, stabilizing after a slide as low as 105.30 on Tuesday following the release of producer price inflation numbers.

4 months ago Inquirer Business

Ties that bind the Philippines and China – from trade, food to faith

With China regaining its ancient global status as an economic superpower, Dr. Lim says it has become even more important as a trade and development partner of the 21st century Philippines. “Many prominent Filipinos of Chinese lineage or heritage have immeasurably enriched the Philippine national culture for centuries,” Dr. Lim says. The cultural linkages and ties between the Philippines and China are dynamic, vast and very important. Dr. Lim suggests that the Philippines should continue to collaborate and learn from its neighbor in solving some of its major problems. Let us build Filipino national unity in cultural diversity to continue to enrich the Filipino national culture,” Dr. Lim says.

2 months ago Inquirer Business

Market-driving strategy for the death care industry

Market-driving strategy is about tapping new markets—the unserved and the underserved markets. In this article, we apply market-driving strategy to the death care industry by citing cases in different countries. In Daejeon, South Korea, Coffin Academy offers a seminar that allows anyone to experience “death” without actually dying. Drive-thru burialRobert L. Adams Funeral Home in Southern California in the United States pioneered the drive-thru funeral. What other market-driving strategies can you think of for the death care market?

5 months ago Inquirer Business

Wall Street mixed, European shares end nearly flat; sterling, euro fall

WASHINGTON/LONDON -U.S. stocks were mixed and European shares ended nearly flat on Thursday as investors balanced mixed earnings reports and economic data, while the pound retreated from mid-September highs. However, excluding the more volatile categories, the trajectory for growth looks weak,” Jeffrey Roach, Chief Economist for LPL Financial, said. It touched its highest level since Sept. 20 as the European Central Bank President Christine Lagarde spoke. Data on Thursday also showed the Federal Reserve’s interest rate increases hurt consumer spending. Most analysts expect the central bank to maintain its ultra-low interest rates.

5 months ago Inquirer Business

Due diligence in acquiring a business

Before making an offer and closing the transaction, it is essential to perform due diligence to ensure that the business is a good fit and will provide a solid return on investment. Due diligence is the stage that comes after the buyer has determined its business needs, identified the type of business it wants to purchase vis-à-vis its long term goals, and the particular target company to acquire or invest in. ADVERTISEMENTThe due diligence process involves verifying the financial records, assessing the assets and liabilities, checking for any legal or regulatory issues, and reviewing the contracts and agreements of the business. This usually involves two aspects, consisting of Legal Due Diligence and Financial Due Diligence. Below is the usual list of documents and information that will be requested in the performance of the due diligence.

1 month ago Inquirer Business

No price relief from low meat tariffs, agri group says

The Samahang Industriya ng Agrikultura (Sinag) said slashing the tariff rate of MDM would create little impact on the retail price. Earlier, the Philippine Association of Meat Processors Inc. (Pampi) filed an appeal to maintain the 5-percent tariff rate on imported MDM. Often used as a filing or extender, MDM of chicken and turkey is a key ingredient in processed meat products. Hoping to get relief from the skyrocketing cost of manufacturing processed meat products, Pampi had sought the Department of Trade and Industry’s approval for a price hike of P1.50 to P2. The department last updated the suggested retail price of basic necessities and prime commodities on Aug. 12.

5 months ago Inquirer Business

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