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Villar statistically tied with Noynoy in new SWS survey

Senators Benigno Simeon "Noynoy" Aquino III and Manuel Villar Jr. continued to engage in a neck and neck race for the country’s top post, and were statistically tied two months before the May 10 elections, the latest Social Weather Stations (SWS) survey showed. The SWS poll, commissioned by BusinessWorld, showed that while Aquino remained the top pick among presidential aspirants, Villar appeared to be catching up.   It noted that while both Aquino and Villar had lost ground, ...

Arroyo bares new round of Cabinet shuffle before polls

President Gloria Macapagal-Arroyo on Monday announced a new Cabinet reshuffle affecting two departments, two months before the May 10 elections. Education Secretary Jesli Lapus will be heading the Department of Trade and Industry (DTI), while Trade Secretary Peter Favila will become a member of the central bank’s Monetary Board (MB), Mrs. Arroyo said in her speech during the celebration of International Women’s Day at the World Trade Center in Pasay City. Lapus will be replaced by Pres...

Lopez family eyes geothermal investments abroad; may sell Meralco stake

MANILA - The Philippines' powerful Lopez business clan will sell its remaining 13.4% stake in Manila Electric Co. (Meralco) if it gets an attractive offer, or if it needs to make other investments or pay down debt, the family patriarch said on Friday. Oscar Lopez, chairman of the Lopez family's power conglomerate First Philippine Holdings Corp., also told Reuters the group plans to subscribe to its geothermal unit First Gen Corp.'s rights offer before the year ends even as it pursues more inves...

SC asked to reverse ruling on conversion of disputed SMC shares

MANILA - A group led by former Senator Wigberto Tañada has asked the Supreme Court to reverse its earlier ruling allowing the government to convert its sequestered common shares in San Miguel Corp. (SMC) into preferred shares. In a 26-page motion for reconsideration, Tañada, together with former assemblyman Oscar Santos, the Surigao del Sur Federation of Agricultural Cooperatives, the Moro Farmers Association of Zamboanga del Sur, and Pambansang Kilusan ng mga Samahan ng Magsasaka, insisted th...

SC affirms ruling on PAL dismissal of cabin crew

MANILA - The Supreme Court has affirmed with finality its July 22,2008 ruling that the dismissal of some 1,400 cabin crew personnel of local carrier Philippine Airlines (PAL) was illegal. In a 31-page resolution penned by Associate Justice Consuelo Ynares-Santiago, the Court’s Special Third Division denied for lack of merit the motion for reconsideration filed by PAL seeking the reversal of the ruling. The High Tribunal held that the Lucio Tan-led airline’s reduction of personnel was illegal ...