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Tuesday, December 8, 2015

Puerto Rico News Digest For December 8, 2015


From The San Juan Daily Star:

"Walmart Puerto Rico has sued the government of Puerto Rico, contending
that the law that increased a component of the Alternative Minimum Tax
is unconstitutional and has raised its tax responsibilities to unsustainable le-
vels. The firm said in the lawsuit fi led in federal court that  it is a critical
contributor to the economy of Puerto Rico, noting that:  More Puerto Ricans
work for Walmart PR than for any other private employer; Walmart PR coll-
ects more sales tax on behalf of the commonwealth than any other company
or entity; every year, Walmart PR purchases $1.6 billion dollars of products
from Puerto Rican vendors and suppliers; Walmart PR supports the local co-
mmunity by providing millions of dollars of grants each year to charitable
causes in Puerto Rico; Walmart PR has been a very good corporate citizen
and a backbone of the local economy..."


From Caribbean Business:

"Coast Guard crews were responding Monday to reports of multiple containers
falling off a barge off the coast between Port Canaveral and West Palm Beach,
Fla., Sunday. The U.S. flagged 136-foot Capt. Latham was enroute to Puerto
Rico as it tugged a 340-foot barge, Columbia Elizabeth, when crew aboard noti-
ced several cargo containers hanging over the port side of the barge and belie-
ved more had fallen into the water while in transit. The Capt. Latham termina-
ted their course toward Puerto Rico and diverted to Port of Palm Beach for fur-
ther investigation..."


From Computer World:

"Semiconductor maker Micron Technology is closing a manufacturing facility
in Puerto Rico and moving the work to China. Around 185 jobs are affected by
the closure, which is due to be completed by the end of this month, according
to a U.S. government filing. This is not good news for Puerto Rico, which has
an unemployment rate of more than 12% and is now struggling with a debt cri-
sis. But it may be helpful for China; it's trying to increase its semiconductor
manufacturing capability by investing in U.S. firms -- to the concern of some
U.S. lawmakers..."


From News Is My Business:

"Puerto Rico salaries could see a slight improvement next year, breaking a two-
year cycle of flat results, according to the results of the 28th edition of the “Glo-
bal Salary Increase Survey” conducted by Aon Hewitt. The study showed that
average wage increases for 2015 were 3 percent, remaining the same as those
reported in 2014. However, by 2016 AON projects a slight increase to 3.2 per-
cent. The survey spans 120 markets worldwide, including Puerto Rico..."

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