Sat | Mar 23, 2019

Business

Published:Saturday | March 23, 2019 | 12:22 AMAvia Collinder - Business Reporter

Few microfinance companies have finalised their review of the legislation that will soon police their business practices, but those who have are worried. One of the top companies in the field, Access Financial Services Limited, warned this week...

Published:Friday | March 22, 2019 | 12:23 AM

Insurance company Guardian Life broke ground for its second high-rise development in two years, a 176-unit luxury apartment complex costing $4 billion, to be known as The Cambridge. Its first, the 66-unit Hampshire, located in proximity to the...

Published:Friday | March 22, 2019 | 12:21 AMAvia Collinder - Business Reporter

First Global Bank has created a hub to serve small and medium enterprises that are attempting to scale up their operations. President and CEO Mariame McIntosh Robinson, who announced the creation of The FGB SME Hub at First Global annual SME...

Published:Friday | March 22, 2019 | 12:21 AM

United Kingdom companies have ratcheted up their preparations for a disorderly no-deal Brexit as best they can over the past couple of months, the Bank of England said Thursday. With the prospect of a chaotic Brexit potentially eight days away, a...

Published:Friday | March 22, 2019 | 12:20 AMHuntley Medley - Senior Business Writer

Jamaica has benefited from, or is in the process of cashing in on, loans and other public- and private-sector development financing from the Inter-American Development Bank, IDB, amounting to more than US$5.1 billion for the 50 years of the bank’s...

Published:Friday | March 22, 2019 | 12:19 AM

Disney has closed its US$71-billion acquisition of Fox’s entertainment business, a deal that is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus, due out later this...

Published:Friday | March 22, 2019 | 12:19 AM

European Union (EU) regulators have fined Google €1.49 billion (US$1.7 billion) for abusing its dominant role in online advertising, the third big antitrust penalty they’ve given the Internet giant since 2017. The latest punishment means the...

Published:Friday | March 22, 2019 | 12:18 AM

German automaker BMW said Wednesday that profits in 2019 would be “well below” last year’s and that it planned to cut €12 billion (US$13.6 billion) in costs by the end of 2022 to offset spending on new technology. The company said profits would be...

Published:Friday | March 22, 2019 | 12:17 AMAvia Collinder - Business Reporter

There was a time when Jamaica was producing nearly 40 million litres of milk per year, but that was nearly three decades ago. Now the dairy sector is doing 12-13 million litres annually, on average, a level it has been stuck at since around 2010....

Published:Friday | March 22, 2019 | 12:17 AM

A shortlist of candidates for the post of governor of the Bank of Jamaica, BOJ, and possibly a selection, is expected by September so that enough time will be available to make the transition in November this year when the incumbent Brian Wynter...

Published:Friday | March 22, 2019 | 12:16 AMNeville Graham - Business Reporter

Norbrook Equity Partners is working on a plan that aims to develop ice supply into a regional market. It starts with the $350 million that the investment holding company Norbrook and its joint-venture partners in Pure National Limited, PNL, are...

Published:Friday | March 22, 2019 | 12:16 AM

The German government’s panel of economic advisers nearly halved its German growth forecast for this year to 0.8 per cent — the latest in a long list of downgrades for Europe’s biggest economy. In a regular update Tuesday, the panel cut its 2019...

Published:Thursday | March 21, 2019 | 12:11 AM

Jean-Claude Juncker, the president of the European Commission, says Britain should leave the European Union, EU, by the start of elections to the European Parliament on May 23 if the country is not taking part. That’s earlier than the request...

Published:Wednesday | March 20, 2019 | 12:18 AMAvia Collinder/Business Reporter

Pear Tree Xpress is spending upwards of $300 million on the expansion of the office complex, new equipment and a new management information system, NIS, all intended to double capacity. The print company is adding space upstairs its Kingston...

Published:Wednesday | March 20, 2019 | 12:10 AM

Lasco Manufacturing Limited is spending US$1.7 million ($215 million) to further extend its dry products plant at White Marl, St Catherine. The expansion will add 12,000 square feet of space to the existing factory, where the ­company manufactures...

Published:Wednesday | March 20, 2019 | 12:10 AM

Lyft officially kicked off the road show for its initial public offering, saying on Monday it plans to put more than 30 million shares up for sale with an anticipated price of between US$62 and US$68 per share. That would raise more than US$2...

Published:Wednesday | March 20, 2019 | 12:09 AM

Germany began auctioning frequencies for the future super-fast 5G network on Tuesday amid frustration over conditions imposed by authorities and questions over whether China’s Huawei can supply equipment. The auction, launched by the Federal...

Published:Wednesday | March 20, 2019 | 12:09 AM

United States securities regulators countered Tesla CEO Elon Musk’s contempt-of-court defence Monday night, writing in court papers that he brazenly disregarded a federal judge’s order and that one of his arguments bordered “on the ridiculous”....

Published:Wednesday | March 20, 2019 | 12:09 AM

After hurricanes Irma and Maria tore through the Caribbean in 2017, devastating dozens of islands – including billionaire Richard Branson’s private isle, Necker Island – Branson called for a ‘Caribbean Marshall Plan’. He wanted world powers and...

Published:Wednesday | March 20, 2019 | 12:08 AMSteven Jackson/ - Senior Business Reporter

Minority shareholders in Cable...

Published:Wednesday | March 20, 2019 | 12:06 AMNeville Graham/Business Reporter

In a deal said to be worth $4 billion, the owners of Jamaica Energy Partners (JEP) have snapped up rival energy outfit Jamaica Private Power Company (JPPC) giving the American parent control over 250 megawatts of domestic rated capacity. The...

Published:Wednesday | March 20, 2019 | 12:05 AM

Scotiabank Jamaica has set up a $3 billion fund from which it will issue loans to small businesses at a special rate of 9.99 per cent. The bank has also adjusted its loan rate for residential mortgages to 6.99 per cent, which it now touts as the...

Published:Tuesday | March 19, 2019 | 12:30 AM

A former vice-president at the United Auto Workers was charged on Monday with conspiracy in a scheme with Fiat Chrysler executives to buy meals, golf, and other perks with the automaker’s money – the highest-ranking official snagged in an...

Published:Sunday | March 17, 2019 | 12:20 AM

Inter-American Development Bank (IDB)governors approved on Friday a resolution recognising a new Venezuela representative designated by opposition leader Juan Guaidó. The IDB said in a press release that the designation of Ricardo Hausmann as...

Published:Sunday | March 17, 2019 | 12:19 AM

In the week since a massive blackout left millions in Venezuela without power, both the government and opposition have put forward disputing theories on what caused the outage without providing any evidence. Now, two Venezuelans with expertise in...

Pages

Subscribe to Business