| Great expectation for another power rate cut
Tacloban City (April 4) -- Word is out that after the very solemn atmosphere of the Holy Week, consumers will have a reason to celebrate, not only because Christ is Risen on Easter Sunday but because electricity rates are expected to go down in the coming months, by as much as 36.26 centavos per kilowatt-hour. The state-owned National Power Corporation (Napocor) filed a petition with the Energy Regulatory Commission (ERC) to adjust its 8th Generation Rate Adjustment Mechanism (GRAM) and its 7th Incremental Currency Exchange Rate Adjustment (ICERA). The rate adjustment application was similar to the rate cut petition Napocor filed in November 2006 which resulted in a 30 centavo rollback in power rates. The stable foreign exchange rate and the minimal use of oil-fired power plants were the main reasons why the power firm was able to file twin reductions in the GRAM and ICERA.
FOREX VIEW: US Econ Worries Could Drag Dollar Down Next Week
NEW YORK (Dow Jones)--The dollar, still licking its wounds after dropping to a two-year low against the euro Thursday, could see more downside next week on persistent worries about the U.S. economy. But U.S.-centric issues aren't the only possible knock on the greenback. Economies in the euro zone have started to outperform, providing incentives for investors to trade in their dollars for the 13-nation currency. "We've had plenty of positive data out of Europe recently that still hasn't been adequately reflected in its prices," said Camilla Sutton, currency strategist at Scotia Capital in Toronto. "So we see the potential for more dollar-weakening next week, but at a slow pace." Of course, there's still more action this week. An important report Friday on U.S. non-farm payrolls could spark dollar-selling if market whispers of a low number prove true.
Best Buy Offers Help in `Second Life'
Best Buy Co. Inc. plans to open Geek Squad Island, a spot in "Second Life" where its Geek Squad technical support workers will offer free computer advice. The virtual world will have regular office hours (6 p.m. to 3 a.m. EDT, seven days a week). The online characters will wear white, short-sleeve button-down shirts, black pants and, of course, a badge. Best Buy said many of its Geek Squad agents already were a part of "Second Life," a virtual 3-D world where people can gather and interact. Some of the Best Buy's plans sounded as if they would fit in with the "Second Life" vibe of wandering around and seeing what's there to see. But others resembled Best Buy's core business of selling tech toys, like the "Future Home" that will include an interactive exhibit showing new home technology.
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