A water well currently being drilled for Caribbean Cream Limited, which trades as Kremi, could be a game changer for the ice cream company, which has already registered improved performance in 2024 over the previous year. CEO of Caribbean Cream,...
The takeover of IT services firm, tTech Limited, is all but complete. Simply Secure Limited, owned by Kevin Gordon and Rob Mayo-Smith, has increased its shareholding in tTech to 69.1 per cent, representing 73,229,223 of the 106,000,000 shares...
Sygnus Credit Investments Limited, SCI, aims to raise US$26 million in a new preference share offer to the market. It forms part of plans by the firm to secure as much as US$100 million in funds over the medium term. The current preference share...
The food and beverage supplier, Caribbean Producers Jamaica Limited, CPJ, recorded a net loss of US$80,700 for the September first quarter, reversing a profit of US$1.2 million in the comparable period last year. Quarterly sales dipped slightly to...
Human-caused climate change made Atlantic hurricanes about 18 miles per hour (29 kilometres per hour) stronger in the last six years, a new scientific study found Wednesday. For most of the storms – 40 of them – the extra oomph from warmer oceans...
Published:Wednesday | November 20, 2024 | 12:09 AM
Spirit Airlines, the largest budget carrier in the United States, filed for Chapter 11 bankruptcy protection Monday. The airline said customers should not see any disruption to their travel plans while the process unfolds. The filing followed years...
Published:Wednesday | November 20, 2024 | 12:08 AM
Building the current crop of artificial intelligence chatbots has relied on specialised computer chips pioneered by Nvidia, which cornered the market and made itself the poster child of the AI boom. But the same qualities that make those graphics...
Published:Wednesday | November 20, 2024 | 12:08 AM
Microsoft CEO Satya Nadella is opening a company conference in Chicago with remarks that could set the stage for where it’s taking its artificial intelligence business. AI developers are increasingly pitching the next wave of generative AI chatbots...
Published:Wednesday | November 20, 2024 | 12:08 AM
Just as a simple lever can move heavy objects, rich nations are hoping another kind of leverage — the financial sort — can help them come up with the money that poorer nations need to cope with climate change. It involves a complex package of...
Published:Wednesday | November 20, 2024 | 12:07 AM
JMMB Group Limited expects further reduction in interest rates this week but remains concerned about the reduced spending in the economy. The Bank of Jamaica, BOJ, will decide on Thursday whether to hold or adjust its policy rate, now at 6.5 per...
In a first for Jamaica, 16 tonnes of liquid medical-grade oxygen have been exported to Caribbean neighbour The Bahamas. The shipment also represents Massy Gas’ first effort in a big export push. The company has another plant in Trinidad and Peter...
Published:Wednesday | November 20, 2024 | 12:07 AM
At the top of the list of measures to be agreed at the COP29 United Nations Climate Change Conference in Baku, Azerbaijan, is the new collective quantified goal on climate finance, which will support climate action in developing countries after...
A softening of demand for frozen and chilled products, lower visitor arrivals, the reduction in remittances, and some inflationary effects “all seemed to have resulted in lower-than-expected overall consumption” during the September quarter,...
Published:Wednesday | November 20, 2024 | 12:05 AM
Investment outfit GK Capital Management Limited is touting a new frontier called alpha investing. Managing Director Kareem Tomlinson says the company is introducing a business model that will allow investors to chart a way forward with greater...
Published:Wednesday | November 20, 2024 | 12:05 AM
Sagicor Group Jamaica Limited, SGJL, saw its profit for the September 2024 third quarter fall to $2.7 billion, a 40 per cent decline compared to the same period last year, because of economic challenges. “Despite the difficult economic climate and...
Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel, stiffer competition from bigger carriers, and a failed attempt to sell the...
General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market. The workers, mostly white collar, were notified about the decisions early Friday. The company confirmed the...
A computer expert who stole bitcoin worth billions of dollars at current prices – and then spent years laundering some of the hacked cryptocurrency with help from his wife – was sentenced on Thursday to five years in prison. Ilya Lichtenstein...
Recent data from the United Kingdom’s Office for National Statistics, ONS, have gained global attention rekindling the conversation that flexible work arrangements, once seen as a temporary solution during the COVID-19 pandemic, should be here to...
An expanded system for assessing the quality craft items being produced for export is currently being developed by the Jamaica Business Development Corporation, and if successful could result in millions of dollars in foreign exchange for players...
Approved retirement schemes, often called individual retirement accounts, must operate in a way to meet the requirements of the law and be compliant with the requirements of their regulator, the Financial Services Commission. As such, they are...
Jamaica experienced two back-to-back seismic events last Sunday. The first, which occurred at 10:50 a.m., was measured at magnitude 5.6. The second followed an hour later. It was stronger; its magnitude was 6.5. Both earthquakes were felt across...
There is a level of uncertainty about the supply of sorrel and other locally grown crops for the rest of the year, following the passage of Tropical Storm Rafael as well as weeks of heavy rains that have inundated the island. But the lack of sorrel...
Oil and natural gas companies for the first time will have to pay a federal fee if they emit dangerous methane above certain levels under a final rule announced Tuesday by the Biden administration. The US Environmental Protection Agency rule...
NCB Financial Group Limited, operator of Jamaica’s largest bank, plans to improve profit while reducing debt going forward. “We are energised by the results we see, but we are not there yet,” said NCB Financial Chairman Michael Lee-Chin at an...
