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BusinessMirror November 27, 2014

Apr 06, 2016




  • The United States economy grew even faster in the third quarter than initially thought, posting the strongest six months of growth in more than a decade and pulling further ahead of other big economies of the world. The gross domestic product (GDP), the countrys total out-put of goods and services, expanded at a healthy 3.9-percent annual rate in the July-to-September period, the Commerce Department reported on Tuesday. Thats a notable jump from its first estimate of 3.5 percent. The revision was propelled higher by more robust consumer and business spending. Together with a 4.6-percent surge in the spring, the country has recorded its biggest back-to-back quarterly performance since 2003.

    CarraSCal Nickel Corp. (CNC) once again bagged the coveted Best Min-ing Forest Program award for Metallic Category for the year 2014. The award was given during the 61st annual National Mine Safety and environment Conference testi-monial dinner on November 14 at Cap-John hay Trade and Cultural Center at Camp John hay in Baguio City. The company garnered a sky-high 95.70-percent rating, topping other veteran mines, such as Taganito Mining Corp., Carmen Copper Corp. and Philsaga Mining Corp. which were also in the top tier of the competition. CNC won the award for two consecutive years now, since it first entered the competition in 2013. CNCs mine site is at the municipality of Carrascal, Surigao del Sur province. Since the start of its commercial operations in 2009, CNC experienced rapid growth through the commendable vision, teamwork and collaboration of its manage-ment and technical teams.

    See Fuel costs, A2

    See OFws, A8 n Tuesday, November 18, 2014 Vol. 10 No. 40 P25.00 nationwide | 6 sections 30 pages | 7 days a week n Thursday, November 27, 2014 Vol. 10 No. 49A broader look at todays business

    BusinessMirrorthree-time rotary club of manila journalism awardee2006, 2010, 2012u.n. media award 2008

    Peso exchange rates n us 44.9600 n jaPan 0.3812 n uK 70.6232 n hK 5.7974 n china 7.3266 n singaPore 34.5793 n australia 38.3422 n eu 56.0831 n saudi arabia 11.9833 Source: BSP (26 November 2014)

    See Calax, A2See U.S. economy, A8

    health&fitness celebrates third anniversary

    record goals!

    bohol reinvents itself


    SportsBusinessMirrorC1 | Thursday, November 27, [email protected] Jun Lomibao


    The previous record of 71 had been set by former Real Madrid and Schalke striker Raul over the course of 142 matches. Rauls record fell whenMessistruck his first in the 38th minute to give Barcelona a 2-0 lead after Luis Suarez had opened the scoring. It wasMessis91st match in Europes top club competition.

    BELFAST, Northern IrelandInternational Football FederationSecretary-General Jerome Valcke acknowledged on Tuesday that it will take years to rebuild our reputation following the World Cup bidding-corruption investigation. But Valcke insisted that Sony and Emirates airline are not ending theirFifa sponsorships to protest against allegations of bribery and favor-seeking that have engulfed world football in the four years since Russia was awarded the 2018 World Cup and Qatar was voted the 2022 hosts. Emirates has already announced it is not renewing its sponsorship and Valcke said he would be surprised if Sony extended its deal, which expires

    at the end of this year. Both Sony and

    Emirates have nothing to do with the situation we are facing

    these last days, Valcke

    said, referring to the fallout from the bidding corruption report compiled by prosecutor Michael Garcia. I know that football is still a very strong product and I am not really concerned withFifasfinances for the future.

    But, speaking in Belfast after a meeting of the International Football Association Board, Valcke acknowledged the immediate future is not bright forFifasglobal standing while insisting we are doing a great job. The image ofFifais something I agree, over the last two weeks I would not say reached the bottom, but has reached a level which is definitely a level which we will not go lower than, Valcke said. Things are happening, things have happened, but we are still doing a lot of good things. We have to rebuild this image day after day. Its easy to destroy the reputation. It takes one second. It takes years to rebuild our reputation, but

    thats what we will do. Sepp Blatter, the magnet for much of the criticism directed atFifa, is seeking a fifth four-year term as president in May. Much of that criticismparticularly fromFifasown executive membershas centered on Blatter keeping Garcias full 430-page report into impropriety during World Cup bidding confidential. Blatter received a further demand for Garcias investigation to be released from the British government on Tuesday. Sajid Javidthe culture, media and sport secretarywrote to Blatter, saying Fifashould be operating with the highest ethical standards and be able to find a way of publishing the report without contravening confidentiality assurances. Without the disclosure of the full report,Fifarisks not just further damage to its own credibility, but now significant damage to the reputation of football as a whole, Javid wrote. Valcke,Fifastop administrator, said the report must stay secret to mainly to protect 75 persons who

    have made a deposition and were given confidentiality including himself. The sense of disarray atFifaheightened when Garcia objected to ethics judge Joachim Eckerts interpretation of his investigative work, appealing toFifaciting numerous materially incomplete and erroneous representations of his work. Its said its a bit Fifa versus Fifa, Valcke said. Its sad for Fifadefinitely, and its sad for our reputation and for the image. Its sad for commercial partners, its sad for all the people who are supporting football. The Garcia-Eckert clash has led to Domenico Scala, the head ofFifasauditing committee, being allowed to review the full investigation findings. I hope deeply the decision would be that this bidding process on 18 and 22 is closed, Valcke said, hopeful Russia and Qatar will retain their hosting rights. But Switzerlands attorney general is looking into possible law-breaking by unnamed individuals highlighted in Garcias investigation. AP

    FIFA FAces yeArs to rebuIld reputAtIon


    cHAMpnorways Magnus

    carlsen lifts his trophy after beating Indias

    Vishwanathan Anand in the Fide World chess

    championship in sochi, russia, on tuesday.

    carlsen retained the title after defeating Anand, a former world champion,


    N ICOSIA, CyprusBarcelonas LionelMessiscored a hat trick to shatter the Champions League goal scoring record by taking his tally in the competition to 74 in a 4-0 win over APOEL on Tuesday. The previous record of 71 had been set by former Real Madrid and Schalke striker Raul over the course of 142 matches. Rauls record fell whenMessistruck his first in the 38th minute to give Barcelona a 2-0 lead after Luis Suarez had opened the scoring. It wasMessis91st match in Europes top club competition. Barcelonas Brazilian midfielder Rafihna unleashed a powerful shot from some 20 yards out. Despite being closely marked,Messiwas able to get a foot to the ball and redirect it past the helpless APOEL goalkeeper Urko Pardo. Messisteammates swarmed around him to congratulate the Argentina star on his achievement. He struck again in the 58th when a defense-splitting pass from Dani Alves put him through andMessischip past Pardo bounced into the net off the post. Messirounded off the scoring in the 87th minute of the Group F match, completing his 28th Barcelona hat trick and his fifth in the Champions League. Real Madrids Cristiano Ronaldo, who has scored 70 goals in the Champions League from its group stages onward, gets his chance to catch up withMessis record when the defending champions face Basel away on Wednesday. Messislatest feat came three days after he became the Spanish leagues all-time scorer by netting a hat trick to give him 253 goals in the domestic competition, two more than former Athletic Bilbao great Telmo Zarra scored from 1940-55. Messiwas also the unanimous choice as leading player in the Associated Press Global Football 10 poll on Tuesday after his record-breaking weekend. Messireceived the maximum 180 points from the media voters for becoming the Spanish leagues all-time leading scorer with a hat trick as Barcelona thrashed Sevilla, 5-1. His treble took him to 253 career league goals, surpassing Telmo Zarras record of 251 set from 1940-1955. Messiscored a hat trick against a very respectable side and broke a historic record, voter Ubiratan Leal of in Brazil said. The Argentine is so good that this kind of achievement is losing its impact. All this seems so natural and predictable. But it is not, and I have to remind myself of that every Barcelona match. Barcelona was also the top team and Neymar, who scored Barcelonas second goal, is seventh in the player poll.

    Paul Pogba was second toMessiafter the midfielder scored twice as Serie A leader Juventus

    won 3-0 at Lazio, withMessisfellow Argentina international Carlos Tevez scoring the third.

    Juventus made a statement in beating Lazio in the Italian capital this weekend, demonstrating the gap still existent between the Old Lady and the leagues emerging, better sides, Sam Tighe of the Bleacher Report said. Paul Pogba grabbed a brace as he continues his development into the best central midfielder in the world. Cristiano Ronaldo was third after his two goals in Real Madrids 4-0 thrashing of Eibar took his league goal tally to 20 in only 11 games. Bundesliga leader Bayern Munich polled second in the team list with one more point than Juve