Proven Group Limited plans to avoid acquisitions this year due to global uncertainty, but will continue to develop real estate projects. It’s the second time since the onset of the pandemic that the firm has adopted a passive approach. “We want to...
Ford is restructuring its vehicle development and supply chain operations, shuffling multiple executives just days after announcing that it would build up to 45,000 vehicles with parts missing due to shortages. The Dearborn, Michigan, automaker...
The stage is set for a possible showdown involving the Nigel Clarke-chaired board of governors of the Inter-American Development Bank and IDB President Mauricio Claver-Carone over an investigation into allegations of impropriety against the IDB president. In...
A rare bear market in bonds hasn’t gotten much attention, but it may be inflicting more pain on investors than the downturns for stocks, cryptocurrencies and other investments. Investment-grade bonds — those issued by governments and corporations...
The ongoing switch to liquefied natural gas as fuel for Jamaica Public Service Company’s power plants has resulted in a two-third reduction in the demand for heavy fuel oil or HFO that the Petrojam refinery supplies to the utility. General Manager...
The US Department of the Treasury’s Office of Foreign Assets Control recently sanctioned a technology called Tornado Cash, on the grounds that it “has been used to launder more than US$7 billion worth of virtual currency since its creation in 2019...
Just as there is no question that climate change brings enormous economic and financial risks, there should be no question that central banks can and must play a role in addressing this mother of all market failures. As central banks in the United...
Stationery and Office Supplies Limited, SOS, has expanded its office furniture offerings with a new line called Evolve, aimed at carving out a larger share of the local market. The new line, under which SOS stocks free-standing desks, cupboards,...
The United States Federal Reserve delivered its bluntest reckoning on Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and, potentially, a recession. Speaking at a news conference, Fed...
The US Federal Reserve has been the most aggressive in using interest rate hikes to cool inflation that is battering both households and businesses this year. This week, central banks from Asia to England followed suit to varying degrees, and using...
Express Catering Limited, which operates a number of eateries at the Sangster International Airport, expects the pull of destination Jamaica to temper the reduced disposable income arising from global inflation. “The outlook for this financial year...
Jamaica Broilers Group, JBG, is expanding its Best Dressed Chicken US operation, a project that’s intended to get the poultry producer churning out double its current production capacity by mid-2023. JBG has allocated a budget of approximately US$...
The National Transportation Safety Board, NTSB, is recommending that all new vehicles in the United States be equipped with blood alcohol- monitoring systems that can stop an intoxicated person from driving. The recommendation, if enacted by the...
The US Federal Trade Commission is investigating Amazon’s US$1.7 billion acquisition of iRobot, the latest deal that’s under scrutiny by the regulators amid growing concerns about the company’s market power. In a regulatory filing, iRobot said both...
The United Kingdom government said Wednesday it will cap wholesale energy bills for businesses this winter to ensure companies don’t go bust amid soaring energy prices. Authorities said the government will pick up nearly half of all business...
The German government says it has agreed to nationalise the country’s biggest natural gas importer, Uniper, expanding state intervention in the industry to prevent an energy shortage resulting from Russia’s war in Ukraine. The deal with Uniper...
Barbados announced on Wednesday that it is refinancing part of its debt to help save the ocean as part of a unusual deal. Government officials agreed to a US$150-million debt-conversion deal with The Nature Conservancy and the Inter-American...
South African President Cyril Ramaphosa had an urgent meeting scheduled with his Cabinet on Wednesday to discuss the country’s electricity crisis, which has led to unprecedented levels of nationwide power blackouts in Africa’s most developed...
Jamaican investor Mark Croskery has been tapped to lead an American start-up called Power Americas Resource Group, PARG, that will build homes with 3D printing machines, arising from an asset acquisition deal, market filings indicate. Croskery has...
Published:Thursday | September 22, 2022 | 10:12 AM
LONDON (AP) — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made...
Published:Thursday | September 22, 2022 | 12:08 AM
In what has become an annual ritual, the CEOs of the major United States banks appeared in front of Congress on Wednesday sell themselves as shepherds of a helpful industry at a time of financial and economic distress for many Americans. Democrats...
Published:Wednesday | September 21, 2022 | 12:08 AM
Manufacturing and distribution company Seprod Limited has set an export target of at least 30 per cent of all goods that it manufactures, including its own products and third-party brands, by 2025. The company is essentially seeking to double the...
Pawn shops across Jamaica have seen an uptick in business over the past months, including Cashwiz, as more people look for ways to earn quick cash amid rising cost of living. Rising inflation is partly what’s been fuelling Cashwiz’s decision to...
Published:Wednesday | September 21, 2022 | 12:08 AM
United States Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain”. Today, Americans may get a better sense of how much pain...
Published:Wednesday | September 21, 2022 | 12:08 AM
Visitors to the new terminal at Orlando International Airport may want to wear sunscreen, shades and a floppy hat. Sun rays beaming through the windows of its soaring ceilings don’t just peck at the passing passengers – they practically smooch them...
