SMC operations suffer due to pandemic

SMC operations suffer due to pandemic

Conglomerate San Miguel Corp. (SMC) saw a 91-percent year-on-year drop in first-quarter net profit to P1.09 billion as the lockdown measures required to address the new coronavirus (COVID-19) pandemic gnawed on its beer, oil, infrastructure and energy businesses. The P1.09-billion net profit level included earnings attributable to minority interest. SMC’s consolidated first-quarter revenues declined by […]
Jollibee spending P7B to restructure global operations

Jollibee spending P7B to restructure global operations

Jollibee Manhattan —Contributed photo Homegrown fast-food giant Jollibee Foods Corp. (JFC) is spending P7 billion to implement “significant” changes to its global business structure, including the streamlining of non-performing stores and beefing up delivery, take-out...
Buzzfeed closes news operations in Britain, Australia

Buzzfeed closes news operations in Britain, Australia

SYDNEY — Groundbreaking website Buzzfeed said on Thursday that it would be shuttering part of its loss-making news operations in Britain and Australia, as it scales back global ambitions to cut costs. “For economic and strategic reasons, we are going to focus on news...