BY EMMANUEL JOHN ABRIS
JUNE 2, 2026
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Showing posts with label EMMANUEL JOHN ABRIS. Show all posts
Showing posts with label EMMANUEL JOHN ABRIS. Show all posts
Tuesday, June 2, 2026
Thursday, May 7, 2026
Lopez feud deepens over ‘third poison pill’; First Gen profit slides
LOPEZ VS LOPEZ Eugenio “Gabby” Lopez III and Federico “Piki” Lopez —CONTRIBUTED PHOTOS
Wednesday, May 6, 2026
Monday, May 4, 2026
Oil prices may stay high into 2027 amid Hormuz disruptions
A gas attendant fills up a gas tank at a gasoline station in Quezon City. —INQUIRER FILE PHOTO
Monday, April 20, 2026
PSEi seen sticking near 6,000
Philippine stocks may remain range-bound this week, with the main index struggling to sustain gains amid lingering geopolitical risks and elevated oil prices, according to brokerage 2TradeAsia.
Immediate support for the Philippine Stock Exchange Index (PSEi) is seen at 5,800. Resistance is pegged at 6,050, with a secondary ceiling at 6,300.
Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said that a key catalyst for global and local markets includes the end of the two-week US-Iran truce on April 21.
“Upcoming local data include the April 20 balance of payments and Bangko Sentral ng Pilipinas’ meeting—with a possible rate hike—and the April 23 budget balance report,” Ricafort added.
The PSEi slipped 99 points or 1.62 percent last week to close at 5,999.13. Early optimism from an easing of the conflict in the Middle East faded due to renewed selling pressure.
Investors continued to grapple with uncertainty surrounding the war between Israel and the United States against Iran. They are particularly concerned about the risks of disruption at the Strait of Hormuz, which has kept a “war premium” embedded in crude oil prices.
“Diplomatic negotiations remain fundamentally stalled and this impasse has created a ceiling for global market sentiment,” 2TradeAsia said. It noted that markets may move sideways until clearer developments emerge.
Sectoral performance was broadly negative. Holding firms dropped 2.93 percent, financials slid 1.22 percent and services lost 1.58 percent.
Industrials slipped 0.67 percent. Property fell 1.67 percent. Mining and oil bucked the trend, up 0.24 percent.
Thursday, April 16, 2026
ABS-CBN fends off shutdown pressures amid Lopez feud
Aproposal to shut down ABS-CBN Corp. had been raised during board discussions but was ultimately rejected, as tensions within the Lopez family continue to escalate.
In a statement on Wednesday, the broadcasting firm cited records showing that “one of our directors proposed shutting down ABS-CBN without so much as discussing how it would meet its obligations to its people.”
But the company quickly pointed out that majority of directors had rejected the proposal and instead pushed for continued financial support to sustain operations and protect employees, retirees and other stakeholders.
The statement comes after the majority shareholders of family holding firm Lopez Inc., led by Eugenio “Gabby” Lopez III, said the network “will survive and grow once more” despite the family rift.
Gabby’s faction earlier claimed that Federico “Piki” Lopez had proposed shutting down the network last year, adding that such a move could have jeopardized thousands of jobs.
For its part, ABS-CBN did not identify the director but confirmed that a shutdown proposal had been raised during internal discussions.
But it stressed that the board had instead chosen to support the company’s operations, citing its obligations to employees and other stakeholders.
The company also refuted claims about preferential retirement payments, describing them as “repeated lies designed to sow intrigue among employees.”
It said most of the 68 individuals cited were retirees who had “received only partial or no retirement benefits” and had agreed to defer payment until the company’s financial position improves.
“These continued public PR attacks against ABS-CBN are a disservice to the employees and to the public,” the company said.
ABS-CBN added that the decline in its pension fund was largely due to payouts to nearly 6,000 employees who had been retrenched following the loss of its franchise in 2020.
The company also denied allegations that a P2-billion capital infusion would be used to fund retirement payouts.
ABS-CBN acknowledged that it has faced financial challenges in recent years, but pointed to “steady, consistent improvement” in its operations.
It said its board and the Lopez family have recognized the company’s progress and emphasized its continued importance to the public.
The Lopez family dispute is related to a move made by Gabby’s faction to replace Piki at the helm of Lopez Inc.
Piki had been ousted by the Lopez Inc. board, but a court order later blocked his removal from group companies.
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