A federal fraud trial began Monday for the owner and chief financial officer of a hedge fund that collapsed when it defaulted on margin calls, costing leading global investment banks and brokerages billions of dollars. Bill Hwang, the founder of...
When Ademola Adesina founded a start-up to provide solar and battery-based power subscription packages to individuals and businesses in Nigeria in 2015, it was a lot harder to raise money than it is today. Climate tech was new in Africa, the...
The big US aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the United States and use them for the benefit of Kyiv. That could mean another US...
Generative artificial intelligence tools will soon be used by California’s government. Democratic Governor Gavin Newsom’s administration announced Thursday the state will partner with five companies to develop and test generative AI tools that...
A newly released ad promoting Apple’s new iPad Pro has struck quite a nerve online. The ad, which was released by the tech giant Tuesday, shows a hydraulic press crushing just about every creative instrument artists and consumers have used over the...
German police said Friday they had prevented hundreds of demonstrators from storming Tesla’s factory near Berlin during protests against the pioneering electric carmaker over its environmental footprint. Crowds of demonstrators gathered near the...
I read with surprise that one big commercial bank persuaded 300 of its employees to participate in the Great Mangrove Clean-up Project to remove waste, plastic waste, and other garbage from Kingston Harbour’ s mangroves. The clean-up was done last...
The financial system is ready for a giant leap forward. It’s time to explore new frontiers. We foresee a time when applying for a mortgage or a small-business loan could be as easy as texting a friend or booking a hotel room online. There has been...
Omni Industries Limited, a maker of PVC plastic pipes and crates, is floating its shares on the market to raise $500 million to finance the company’s expansion and modernisation agenda. “This IPO and offer for sale will also allow us to deepen our...
As a member of the C-suite, you have no problem supporting big hairy audacious goals, or BHAGs. These game-changing aspirations separate winners from losers, helping top companies disrupt entire industries. However, you have also been exposed to...
It is easy to believe that collective investment schemes, being diversified and professionally managed, expose investors to little or no risk. Market developments over the past two or three years illustrate that even they are sensitive to economic...
Billions of people are using different kinds of energy each day and 2023 was a record-breaking year for renewable energy sources – ones that don’t emit planet-warming pollutants like carbon dioxide and methane – according to a report published on...
Remittance inflows amounted to US$500 million for the first two months of the year, which was flat compared to year-earlier levels. “Jamaica’s growth of 0.1 per cent is in contrast to growth of 3.8 per cent, 8.2 per cent and 1.5 per cent recorded...
New Fortress Energy, NFE, the company that fuelled Jamaica’s shift towards liquefied natural gas, this week announced plans for a similar transition in Puerto Rico. The American company also plans to raise cash in Brazil via an initial public...
Paint maker Berger Paints Jamaica poured more than $220 million into the upgrade of its plant and assets during its last fiscal year, but the company is indicating that it’s not done yet. At the release of its March first-quarter earnings report,...
Internet casino gambling is legal in only a handful of states, but the industry is convinced it is the future of betting, even as some worry about cannibalising physical casinos. Speaking on Wednesday at the SBC Summit North America, a major...
Prices in Argentina have surged so dramatically in recent months that the government has multiplied the size of its biggest bank note in circulation by five – to 10,000 pesos, worth about US$10. The central bank announcement Tuesday promised to...
After nearly a decade, Nicaragua’s congress finally cancelled on Wednesday a controversial canal concession granted to a Chinese businessman that critics said endangered the environment and threatened to displace rural communities. Despite a...
The world is confronting an unprecedented food crisis, exacerbated by the COVID-19 pandemic, Russia’s war against Ukraine, and worsening climate conditions. But the problem is most acute in Africa, where 61 per cent of the population faced moderate...
Last week, the US Federal Trade Commission, FTC, issued a rule banning provisions in employment contracts that forbid employees to work for a competitor after they quit or are fired. Within hours, a Texas firm sued to block the rule, and the...
Toyota doubled its net profit in the fiscal year that ended in March, as strong vehicles sales and a favourable exchange rate lifted results for Japan’s top automaker. Toyota Motor Corp’s annual profit totalled ¥4.9 trillion (US$31.9 billion), up...
FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse. FTX said in a court filing late Tuesday...
Warren Buffett’s successor isn’t expected to match the legendary investor, but Berkshire Hathaway’s board remains confident that Greg Abel is the right guy to one day lead the conglomerate into the future. Long-time Berkshire board member Ron...
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about US$11.2...
