France’s government plans to nationalise indebted French electricity giant EDF amid a broad energy crisis aggravated by Russia’s invasion of Ukraine, Prime Minister Elisabeth Borne said Wednesday. The French state now holds an 84 per cent stake in...
Scandinavian Airlines on Tuesday filed for bankruptcy in the United States, warning a walkout by 1,000 pilots a day earlier had put the future of the carrier at risk. The move adds to the likelihood of travel chaos across Europe as the summer...
The initial plan was to literally go door to door in the wider Caribbean in search of business, but furniture manufacturer JFP Limited has changed course and is partnering instead with office furniture company Total Office Limited as a supplier of...
Hackers claim to have obtained a trove of data on one billion Chinese from a Shanghai police database in a leak that, if confirmed, could be one of the largest data breaches in history. In a post on the online hacking forum Breach Forums last week...
The German government has drawn up a plan that would allow it to aid struggling energy companies more easily – a move that comes amid efforts to shore up Uniper, Germany’s biggest importer of Russian gas. The plan, approved Tuesday by the Cabinet...
Twitter on Tuesday challenged the Indian government in court over its recent orders to take down some content on the social media platform, media outlets reported. The lawsuit was filed in the Karnataka High Court in southern Bengaluru city and...
Four months into the invasion of Ukraine, the Russian army continues to grind its way relentlessly through the Donbas region. Some Western commentators are calling for more weapons to be supplied faster to Ukrainian forces. This is without question...
Timothy Antoine, governor of the Eastern Caribbean Central Bank, ECCB, says the economies of the Eastern Caribbean Currency Union, ECCU, are feeling the full weight of what he described as “unprecedented and complex” global economic and...
The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more then US$2 trillion in value highlight the need for tougher financial regulations. The United Kingdom central bank said that the crashes exposed...
Large distributor Caribbean Producers Jamaica, CPJ, will seek to raise US$13 million on the bond market to refinance its debt. The unsecured corporate bond will have a tenure of five years and incur interest of 7.0 per cent. It would effectively...
The new Grenada government has signalled its intention to seek a strategic partner to help finance the operations of the country’s lone electricity company, GRENLEC, that continued to operate independently even though majority shares in the utility...
Telehealth service provider MDLink has acquired private medical lab Fleet Diagnostic Laboratory Limited in a move expected to bring the company closer to its goal of creating an ecosystem around online healthcare. The next target for the company...
Imperial Optical Jamaica, which sells tested eyewear through a national chain of nine stores, plans to build a three-storey complex on Lady Musgrave Road in Kingston that will see it flirting with the residential real estate market. The complex...
Tesla’s sales from April through to June fell to their lowest quarterly level since last fall as supply chain issues and pandemic restrictions in China hobbled production of its electric vehicles. The electric automaker disclosed it sold more than...
The global shortage of computer chips and other parts forced General Motors to build 95,000 vehicles without certain components during the second quarter. The Detroit automaker said in a regulatory filing Friday that most of the incomplete vehicles...
It is not unusual to hear complaints about how small the National Insurance Scheme or NIS pension is. Honestly, I do not foresee the day when it will be anywhere close to being adequate. The NIS is a compulsory contributory funded social security...
A.M. Best, the largest credit rating agency in the world, specialises in the insurance industry. A rating agency assesses credit risks and assigns ratings to individuals, entities, and even countries. Local banks, for example, use ratings to make...
VM Investments Limited, VMIL, has partnered with London-based Actus Partners, Actus, to form a private equity fund that aims to raise up to US$100 million – which translates to more than $15 billion in local currency – for investment in Caribbean...
Q UESTION: Your recent article about the single mother with six children who owned a cookshop that not making any money was very triggering for me. It reminded me of what life was growing up with my mother who was also a single parent and...
New York’s recreational marijuana market is beginning to sprout, literally, with thin-leafed plants stretching towards the sun in farms around the state. In a novel move, New York gave 203 hemp growers first shot at cultivating marijuana destined...
In the quiet turns of Tranquillity in Portland, near Buff Bay, artist Jeremiah ‘Miah’ Samuels displays his duffel bags, caps, and boots made from straw. Straw products are usually made in the form of mats and brooms, and of course large beach hats...
Fuel marketing business Petroleum Company of Jamaica Limited, Petcom, is restructuring. Earlier this month, the board appointed Mike Alexander Hylton as deputy executive chairman and another two or three board-level appointments are expected by the...
The Jamaica Stock Exchange (JSE) Combined Index advanced on Wednesday with an advance/decline ratio of 53/38. The JSE Combined Index advanced by 1,890.52 points or 0.47 per cent to close at 400,219.74 points. The JSE Main Market Index advanced by 2...
The Sol Group has acquired all of the Jamaican assets held by GB Energy, including its retail, aviation, LPG/Autogas, commercial and lubricants activities. There are 72 service stations in Jamaica carrying the Texaco brand. "This strengthens Sol’s...
