Tesla is recalling nearly 579,000 vehicles in the United States because a ‘Boombox’ function can play sounds over an external speaker and obscure audible warnings for pedestrians. It is the fourth Tesla recall made public in the last two weeks as...
The price of bitcoin has undergone yet another wild gyration, rising from US$41,030 on September 29, 2021, to US$69,000 on November 10, 2021, before falling back to US$35,075 on January 23. That is its second-largest decline in absolute value,...
Seeing the success of a recent business model tweak, used car dealer Jetcon Corporation is seeing ‘fair skies’, the latest business to telegraph optimism in business growth this year. Its next frontier is the electric vehicle market, Managing...
Lydford Logistics, the business that acquired meat-processing company Sweet River Abattoir in early 2020, spent the first year repairing strained relationships and rehabilitating its brand. Now Sweet River is back to doing business with 32 farmers...
Indebted and insolvent Mystic Mountain Limited, MML, was this week certified bankrupt by the government’s Office of the Supervisor of Insolvency, OSI, after the majority of its creditors voted down a proposal on Tuesday denying the company time to...
Gaming and lottery company Supreme Ventures Limited, which trades as SVL Group, wants to sell Digicel phone cards, but has not been able to strike a deal with the agent that handles the distribution of the cards to retailers. SVL already sells...
Samsung is trying to reclaim lost ground in the coveted high end of the smartphone market with a new line-up of Galaxy S models designed to appeal to consumers who are increasingly sharing videos of their antics on TikTok, Facebook, YouTube and...
Sagicor Group Jamaica today announced that it has entered into a definitive agreement for the purchase of 100% of the shares in Alliance Financial Services Limited (AFSL). The deal is subject to due diligence and regulatory approval. Sagicor says...
In March 2021, the auction house Christie’s sold a JPEG file created by the artist Beeple for US$69.3 million, a record for a digital artwork. The ownership of the ‘original’ JPEG – titled ‘Everydays: The First 5000 Days’ – was secured as a non-...
Jamaica Bauxite Mining Limited, JBM a state company that holds bauxite assets, will be developing a commercial and industrial park in Lydford, St Ann. Minister of Transport and Mining Audley Shaw said the project scheduled to begin later this year...
Beverage maker and distributor Wisynco Group Limited will invest upwards of $5 billion on capital projects to put its cash to work, says CEO Andrew Mahfood. It marks a shift in the company’s stance from one of safeguarding cash in case of pandemic...
COVID-19 vaccine sales boosted Pfizer earnings well past fourth-quarter expectations, but the drugmaker has set a lower-than-expected bar for 2022. Pfizer debuted on Tuesday annual forecasts for both earnings and revenue that fell short of analyst...
The European Union announced a US$48-billion plan Tuesday to become a major semiconductor producer, seeking to curb its dependency on Asian markets for the component that powers everything from cars to hospital ventilators and game consoles. At a...
Hyundai and Kia are telling the owners of nearly 485,000 vehicles in the United States to park them outdoors because they can catch fire even if the engines have been turned off. The recalls from the two Korean automakers are another in a long...
The co-founder of Peloton is stepping down as chief executive after an extended streak of tumult at the interactive exercise bike and treadmill company, which will also cut almost 3,000 jobs. John Foley first pitched the idea for Peloton in 2011,...
The United States Justice Department announced on Tuesday its largest-ever financial seizure – more than US$3.5 billion – and the arrests of a New York couple accused of conspiring to launder billions of dollars in cryptocurrency stolen from the...
The Inter-American Development Bank, IDB, says it provided nearly US$23.4 billion in new financing approvals, commitments and private-sector mobilisations for Latin America and the Caribbean last year, one-tenth of which flowed to Haiti. In a...
A ruling by the Caribbean Court of Justice, CCJ, in an almost two-year-old case, has restated the importance of the 40 per cent common external tariff, CET, to trade within the 15-nation Caricom trading bloc. The February 1 judgment is being hailed...
Guardian General Insurance Limited will offer coverage to individuals and organisations against economic losses that result from extreme weather associated with wind and rain, under an agreement with regional insurer CCRIF that will see the...
Developers of The Ascent, described as Jamaica’s tallest building, have received regulatory approval from at least one major agency. The concept involves a mixed use 26-storey building, with green spaces, on lands at Oxford Road in New Kingston....
Rising inflation in the United States and around the world is forcing investors to assess the likely effects on both ‘risky’ assets, generally stocks, and ‘safe’ assets, such as US Treasury bonds. The traditional investment advice is to allocate...
Rock Connect, a new mobile provider led by former banker Bruce Bowen, will be provided with technical assistance and commercial advisory support by the IFC, for the buildout of internet services in rural communities. The company won the bid last...
Frontier is offering to buy Spirit Airlines in a US$2.9 billion cash-and-stock deal that will create the nation’s fifth largest carrier. The tie-up is valued at US$6.6 billion when accounting for the assumption of debt and other liabilities. The...
NCB Financial Group, the regional conglomerate based in Jamaica, made billions in its first quarter spanning October to December, but has again avoided paying dividends, its earnings having fallen short of prior periods. “We will alight from this...
