TODAY'S BUSINESS HEADLINES

DAP debacle, ports congestion drag down business confidence to 3-year low 29-Aug-14, 4:44 PM | Scarlet Venilia, InterAksyon.com

Money supply growth slips below 20 pct at start of 2H 29-Aug-14, 4:32 PM | Scarlet Venilia, InterAksyon.com

Budget deficit narrows at start of 2H as gov't spending fails to pick up 29-Aug-14, 1:55 PM | Rain Castro, InterAksyon.com

Globe spending $80M for new international undersea cable 29-Aug-14, 10:54 AM | Darwin G. Amojelar, InterAksyon.com

Macay Holdings shelves planned acquisition of Zest-O bottling lines 29-Aug-14, 10:18 AM | Krista Angela M. Montealegre, InterAksyon.com

Importers, brokers given until Sept. 8 to remove container boxes in all Manila ports 2:41 pm | Philippines News Agency The Philippine Ports Authority (PPA) on Sunday announced that it is giving all importers and brokers with overstaying customs-cleared cargo inside the Manila ports the opportunity to withdraw their boxes on or before Sept. 8.

PSE, SM tie up to build school in Yolanda-hit area PSE, SM tie up to build school in Yolanda-hit area 1:26 pm | InterAksyon.com The 2-storey, 4-classroom school building in Tanauan, Leyte

Bombardier CSeries suffers setback as first client backs off 2:56 am | Agence France-Presse Sweden's Braathens Aviation said it no longer wishes to be the first operator of Bombardier's new CSeries jets, adding to the troubled Canadian manufacturer's woes.

Tragedy-hit Malaysia Airlines to lose 6,000 jobs in bold revamp Tragedy-hit Malaysia Airlines to lose 6,000 jobs in bold revamp 12:54 pm | Reuters The revamp comes after two disasters, the first involving a plane that went missing and the second a plane that was shot down by Ukrainian…

3 Chinese firms to form world\ 3 Chinese firms to form world's biggest mobile e-commerce platform 12:45 pm | Reuters Dalian Wanda, Tencent and Baidu will team up to for the world's biggest online-to-offline e-commerce platform.

Kraft issues voluntary recall of some American Singles cheese product Kraft issues voluntary recall of some American Singles cheese product 12:37 pm | Reuters According to Kraft, a raw material supplier failed to observe proper temperature standards.

S&P 500 edges up to set new record; best month since Feb S&P 500 edges up to set new record; best month since Feb 12:12 pm | Reuters Responsible for the new record was better-than-expected economic data, including consumer sentiment and business activity in the US Midwest.

MANILA, TAKE NOTE | Turkey orders 3 luxury condos demolished to preserve iconic Istanbul view 9:40 am | InterAksyon.com MANILA, TAKE NOTE | Turkey orders 3 luxury condos demolished to preserve iconic Istanbul viewAdvocates on either side of the debate over DMCI's controversial Torre de Manila project across Luneta may want to take note of this development in Istanbul.

Napocor resumes water releases from Angat Dam for irrigation 5:30 pm | Euan Paulo C. Añonuevo, InterAksyon.com Napocor resumes water releases from Angat Dam for irrigationMaynilad and Manila Water raised alarm about the resumption of water releases for irrigation, warning that this would compromise supply once El Nino hits later this year.

PH stock index down a second session on profit-taking 5:10 pm | Darwin G. Amojelar, InterAksyon.com PH stock index down a second session on profit-takingAccording to Papa Securities analyst Freya Natividad, the correction was healthy given recent run-ups.

DAP debacle, ports congestion drag down business confidence to 3-year low 4:44 pm | Scarlet Venilia, InterAksyon.com DAP debacle, ports congestion drag down business confidence to 3-year lowThe BSP's business confidence index in the third quarter revisited the lows seen in 2011 when government curtailed spending.

Money supply growth slips below 20 pct at start of 2H 4:32 pm | Scarlet Venilia, InterAksyon.com Money supply growth slips below 20 pct at start of 2HThe July increase in M3 is now within range of the BSP's target of 15-18 percent.

SMDC turns over 2,500 units at Makati, Mandaluyong high-rise projects 4:10 pm | Krista Angela M. Montealegre, InterAksyon.com SMDC turns over 2,500 units at Makati, Mandaluyong high-rise projectsSMDC is the residential arm of SM Prime, the property unit of Henry Sy-led SM Investments

Right-of-way violations triggering power interruptions 2:43 pm | Euan Paulo C. Anonuevo, InterAksyon.com Right-of-way violations triggering power interruptionsThe grid operator says right-of-way violations like landowners deliberately planting trees along transmission lines are causing power interruptions.

Phoenix completes new port facility in Batangas 2:19 pm | Euan Paulo C. Anonuevo, InterAksyon.com Phoenix completes new port facility in BatangasOil firm Phoenix has completed a new port facility in the province, enabling locators in its industrial park to accept more shipments for their business.

BIR shutters David's Teahouse for violations of tax law 2:10 pm | InterAksyon.com BIR shutters David\According to the BIR, David's Teahouse under declared its sales by more than 30 percent.

Budget deficit narrows at start of 2H as gov't spending fails to pick up 1:55 pm | Rain Castro, InterAksyon.com Budget deficit narrows at start of 2H as gov\The drop in spending belied official commitment to ramp up public spending.

DA lifts Thailand bird import ban 1:52 pm | Orti Despuez, InterAksyon.com DA lifts Thailand bird import banManila has lifted the ban on the importation of domestic and wild birds originating from Thailand, which was imposed since 2004 following a reported outbreak of bird flu.

Globe spending $80M for new international undersea cable 10:54 am | Darwin G. Amojelar, InterAksyon.com Globe spending $80M for new international undersea cableGlobe joins 6 other foreign telecom companies in laying down the Southeast Asia-US submarine cable.

Macay Holdings shelves planned acquisition of Zest-O bottling lines 10:18 am | Krista Angela M. Montealegre, InterAksyon.com Macay Holdings shelves planned acquisition of Zest-O bottling linesMacay already owns ARC Refreshments, which holds the franchise for RC Cola in the Philippines.

Aboitiz board clears plan to raise funds from share sale 10:10 am | Krista Angela M. Montealegre, InterAksyon.com Aboitiz board clears plan to raise funds from share saleAboitiz Equity Ventures can raise as much as P2.8 billion given yesterday's closing price of P56 each.

PLDT, Rocket Internet hold discussions on mobile commerce gameplan 9:49 am | InterAksyon.com PLDT, Rocket Internet hold discussions on mobile commerce gameplanThe two companies are setting up a mobile commerce and payment solutions platform for emerging markets.

Health BPO segment aims for global leadership by 2016 9:28 am | Chelsea Cruz, InterAksyon.com Health BPO segment aims for global leadership by 2016The local HIMS industry expects to have a 120,000-strong workforce and revenues of $2.4 billion by 2016.