Top Local News Headlines

These are the top local news stories from News is my Business for Wednesday, May 4, 2016.

P.R.-based e-transactions firm Paytech becomes Accepta

Published 4 May 2016, 5:03 am
PayTech Corp., a Puerto Rican operation with a track record of more than 12 years in the electronic payment processing and financial technology industries, announced Tuesday the sale of its assets to Accepta LLC., through $2 million capital investment deal. Read More →

Honeywell opens $40M aerospace testing lab in Moca

Published 4 May 2016, 5:02 am
Honeywell Aerospace announced Tuesday the opening of a new environmental testing laboratory in Puerto Rico’s Las Américas Technology Park, which will create 335 new jobs on the island. Read More →

DIRECTV, AT&T Mobility consolidate P.R. operations

Published 4 May 2016, 5:01 am
José Juan Dávila, vice president and current CEO of AT&T Mobility has been named the head of both the wireless carrier and DirecTV, which will begin consolidating their Puerto Rico operations as part of the $50 billion merger agreement completed last year. Read More →

Loisaida Inc. partners with Puerto Rico to offer training

Published 4 May 2016, 5:00 am
Loisaida Inc., a leader in intergenerational programming that supports the needs of the Latino community in New York City, announced Tuesday the expansion of its services to offer programming that equips entrepreneurs with the basic tools for success. Read More →

Politicians, analysts, creditors react to gov’t debt default

Published 3 May 2016, 5:05 am
The Puerto Rico government’s decision to default on a portion of the $470 million in debt service payments due Monday drew reactions from politicians, analysts and creditors alike, who both urged Congress to act on the Commonwealth’s behalf and predicted long court battles ahead. Read More →

Bankruptcies skyrocket in April, with individuals leading

Published 3 May 2016, 5:04 am
The number of bankruptcy cases filed in Puerto Rico skyrocketed last month, when an astounding 19.5 percent more petitions for protection from creditors were filed at the local court, research firm Boletín de Puerto Rico revealed Monday. Read More →

SBA launches growth accelerator fund competition

Published 3 May 2016, 5:03 am
For the third year, the U.S. Small Business Administration is launching an Accelerator Growth Fund competition for accelerators and other entrepreneurial ecosystem models to compete for prizes of $50,000 each, totaling $3.95 million. Read More →

Guayacán opens call for SPRINGBOARD program

Published 3 May 2016, 5:02 am
Grupo Guayacán Inc. (GGI) announced Monday it has opened the applications process for SPRINGBOARD, the organization’s newest program, which is sponsored by the Small Business Administration’s Growth Accelerator Fund Prize, and will be delivered in partnership with the Angel Resource Institute (ARI). Read More →

Codetrotters Academy graduates 17 new tech pros

Published 3 May 2016, 5:01 am
Codetrotters Academy, the first programming school in Puerto Rico and the Caribbean, announced Monday the graduation of 17 more students from its “Intro to Web Development” course, totaling 34 students that have graduated from the academy since it opened its doors last Fall. Read More →

Puerto Rico media firm joins Local Planet network

Published 3 May 2016, 5:00 am
A consortium of the world’s leading independent media agencies have joined forces to launch Local Planet, a new global media agency network. Puerto Rico’s Media Management & Partners among Local Planet’s founders agencies, the group announced Monday. Read More →

P.R. gov’t will fall $367M short in May debt payment

Published 2 May 2016, 5:02 am
Calling on Congress to take swift action to create a debt restructuring mechanism and saying resources are “scarce,” Puerto Rico Gov. Alejandro García-Padilla confirmed Sunday he has ordered a moratorium on the debt service payments due from the Government Development Bank. Read More →

Wine business thriving despite tanking P.R. economy

Published 2 May 2016, 5:01 am
The island economy is in the tank, some 200 Puerto Ricans get on a plane each day to seek opportunities elsewhere, and today the cash-strapped government expects to default on $470 million in payments to creditors. Read More →

M. Holland closes P.R. acquisitions of sibling companies

Published 2 May 2016, 5:00 am
M. Holland Company, a distributor of thermoplastic resins, has completed the previously announced acquisition of sibling companies Able International Corp. and Tril Export Corp., both headquartered in San Juan. Read More →

P.R., USVI get $566K in US Labor Dept. grants

Published 29 April 2016, 5:03 am
The U.S. Department of Labor on Thursday awarded $112 million to 50 state and territorial workforce agencies, including Puerto Rico, and the U.S. Virgin Islands, which received $302,000 and $246,000, respectively to offer reemployment services and […] Read More →

SME study: 2M+ people in P.R. are online daily

Published 29 April 2016, 5:01 am
More than 2 million people in Puerto Rico interact daily on a social network through their phone, computer or tablet — a trend that continues to rise, affecting the way they communicate, their consumption patterns, information search and content preferences. Read More →

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