Tue | Nov 19, 2019

Business

The Fedral Reserve building in Washington.

The Federal Reserve says that corporate debt remains at historically high levels, but overall, the United States’ financial system is resilient, a view in sharp contrast to the problems that led to the 2008 financial crisis. In its twice-yearly...

A construction company engaged by the Ministry of Education to build a school in Annotto Bay, St Mary, almost 21 years, ago is suing the Attorney General of Jamaica for $10.6 billion over the aborted contract. The value of the claim equates to more...

Courier company Mailpac Group Limited, MGL, hopes to settle at least $263 million in debt to its parent company, Norbrook Equity Partners, through a $495 million initial public offering of shares on the junior stock market. Mailpac, which used the...

The Gilinski Group of Colombia will pay US$797 million for a two-thirds stake in CIBC FirstCaribbean, while Canadian bank CIBC will keep roughly one-quarter and the minority shareholders will hold the balance, according to statements from CIBC....

Gaming conglomerate Supreme Ventures Limited, SVL, will acquire additional shares in Jamaica’s largest sports bookmaker, Post to Post Betting, which would give it 80 per cent control of the business. Post to Post trades as AnyBet. SVL Chairman...

Manufacturing and distribution conglomerate Wisynco Group is making good on a promise to reserve a bloc of its issued shares for its employees and executive. In a disclosure in its third-quarter financial results, Wisynco announced a “long-term...

Key Insurance Company is considering a rights issue to strengthen its capital base, which Managing Director Sandra Masterton said is in furtherance of the general insurer’s turnaround plan. Masterton and two other directors of the insurance...

General Manager of Trading and Treasury at JMMB Group, Kwame Brooks, says the US$240 million to be paid for Alignvest for a stake in regional insurer Sagicor Financial was not sourced from the capital market. With reference to last week’s...

Emboldened by its recent successes in the mainland Chinese market, Rainforest Seafoods now has its eyes set on entering the United States and United Kingdom markets. Company officials did not disclose the timeline for entry, but said plans were in...

Gasolene is supposed to be combustible. But why has it also become politically explosive, as the eruption of massive protests in Ecuador and Chile suggests? While the Ecuadorean case involved a significant increase in the price of gasolene, the...
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