BP said its earnings from April to June almost tripled from a year earlier, increasing pressure on governments to intervene as energy companies profit from high oil and natural gas prices that are fuelling inflation and squeezing consumers. Net...
Is today’s energy crisis as serious as similar previous ones – particularly the 1970s oil shocks? That question is being asked around the world, with consumers hit by high prices, businesses worried about energy supplies, political leaders and...
Karl Marx wrote that all great ‘world-historical facts’ occur twice: “the first time as tragedy, the second as farce”. But what if they happen again and again, every few years, decade after decade? Is that tragic or farcical? Are such facts no...
Distribution and manufacturing company Paramount Trading Jamaica is banking on newly recruited talent to maintain the growing business' momentum, which just achieved its 'best ever' out-turn for year ending May 2022, its chief executive said....
The Ministry of Agriculture and Fisheries, MOAF, has begun hunting for candidates for works to be conducted under the Essex Valley project, an initiative backed by the Caribbean Development Bank that is aimed in part at addressing reliable water...
The Jamaica Business Development Corporation, JBDC, has hand-picked 30 micro and small agro-processors for a new programme to test the efficacy of a model aimed at minimising common problems along the agro-processing value chain, which, if...
Oil companies swam in record profits over the last few months at a time when Americans struggled to pay for gasolene, food and other basic necessities. On Friday, Exxon Mobil booked an unprecedented US$17.85 billion profit for the second quarter...
Since the Latin American debt crisis of the 1980s, sovereign-debt crises have become a regular occurrence for emerging and developing economies. Today, Sri Lanka needs a bailout from the International Monetary Fund, IMF, after defaulting on its...
QUESTION: I got a car loan from a local commercial bank in 2017 based on the request of a friend who wasn’t able to get the loan by himself. The car was registered in his name and mine, but the loan was in my name. I know I made a very bad decision...
ProPublica describes itself as an “independent, non-profit newsroom that produces investigative journalism with moral force. We dig deep into important issues, shining a light on abuses of power and betrayals of public trust – and we stick with...
Is it possible to make your business recession proof? That’s a question that should be top of mind for all business owners, particularly those operating in small island developing states like Jamaica, amid the July 2022 report from the...
The absence of agreement on a settled economic model for Jamaica’s development since the 1970s is being cited as a major cause of slow economic growth and underdevelopment in Jamaica. Former Prime Minister Bruce Golding shared the view while...
Each year, managers in your company sit down to devise budgets for the next twelve months. As a participant in the process, you see that each department’s spending reflects certain priorities. Where do these come from? Are some correct in calling...
Jamaica’s competition watchdog, the Fair Trading Commission, FTC, is undertaking a study of the impact of global digital giants, like Facebook and Google, on the local media, whose operators complain that the hyperscalers not only use their...
General insurer Key Insurance Company Limited made top line and bottom line gains in the second quarter ending June, but its core underwriting business continued to suffer losses. Key’s management said the company continues to navigate the...
As inflation in the United States reaches new heights, economists are debating how high the Federal Reserve will need to hike interest rates to curb demand and rein in price growth. Some commentators believe that the Fed will need to be as...
The United States economy shrank from April through to June for a second straight quarter, contracting at a 0.9 per cent annual pace and raising fears that the nation may be approaching a recession. The decline that the US Commerce Department...
JetBlue Airways has agreed to buy Spirit Airlines for US$3.8 billion and create the nation’s fifth-largest airline if the deal can win approval from antitrust regulators. The agreement on Thursday capped a months-long bidding war and arrives one...
The Jamaica Chamber of Commerce, JCC, is pitching a plan to incorporate a company that is to become the self-financing administrative and project implementation arm of a proposed public-private partnership, or PPP, to drive the redevelopment plans...
Work on the development of a secondary market for repossessed, movable assets is pressing ahead, the latest move being the engagement of an e-commerce development specialist to design the digital secondary market solution with features that allow...
The United States economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling, and economists warn of a potential recession ahead. But consumers are still spending, businesses keep...
A Pennsylvania mortgage company owned by billionaire businessman Warren Buffett’s Berkshire Hathaway discriminated against potential black and Latino homebuyers in Philadelphia, New Jersey and Delaware, the United States Department of Justice said...
Fund managers for Portland JSX Limited say investor patience is being rewarded, but caution against expectations of returns, given global events and ongoing economic upheavals. From mid-2020, with its bottom line then bleeding red, the company has...
The United States Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation. The Fed’s move will raise its...
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