Wed | Jul 15, 2020

Business

Published:Wednesday | July 15, 2020 | 12:22 AM

Burger King is staging an intervention with its cows. The chain has rebalanced the diet of some of the cows by adding lemon grass in a bid to limit bovine’s contributions to climate change. By tweaking their diet, Burger King said Tuesday that it...

Published:Wednesday | July 15, 2020 | 12:19 AMKarena Bennett/Business Reporter -

Its financial results capture two months of Jamaica’s COVID lockdown, which lasted three months and is still being unwound in phases, but even so, poultry company Jamaica Broilers Group, JBG, has already experienced substantial erasure of its...

Published:Wednesday | July 15, 2020 | 12:18 AMNeville Graham/Business Reporter

Despite end-of-year gains at the Caribbean’s largest wind energy company, Managing Director Earl Barrett is cautious about the future under the weight of the COVID-19 pandemic. The company is fairly certain of what its revenues will be, as it has...

Published:Wednesday | July 15, 2020 | 12:17 AM

SVL co-founder Ian Levy retires Ian Levy has retired as deputy chairman and director from the board of Supreme Ventures Limited, SVL, and those of its subsidiaries, effective July 11, having reached the age of retirement. Levy is a founding...

Published:Wednesday | July 15, 2020 | 12:16 AMSteven Jackson/Senior Business Reporter

MPC Caribbean Clean Energy Limited, a management company for renewable projects across the region, reclassified two items of income in its audited accounts, resulting in substantial losses. The year-end December 2019 unaudited report showed an...

Published:Wednesday | July 15, 2020 | 12:13 AM

The Middle East’s energy producers are expected to earn US$270 billion less in oil revenue compared to last year as the region’s economic heavyweight, Saudi Arabia, sinks deeper into recession amid the coronavirus pandemic, according to the...

Published:Wednesday | July 15, 2020 | 12:07 AM

Delta Air Lines lost US$5.7 billion during a brutal three-month stretch in which the coronavirus pandemic brought travel to a near standstill, and any hoped-for recovery has been smothered by a resurgence of infected Americans. “Growth has stalled...

Published:Wednesday | July 15, 2020 | 12:05 AMNeville Graham/Business Reporter

Jean-Marie Desulme, who came out of retirement to run the PVC manufacturing unit at FosRich at the end of February has exited the company following a review of the management structure. FosRich Company CEO Cecil Foster said the senior consultant,...

Published:Tuesday | July 14, 2020 | 5:10 PM

The Jamaica Stock Exchange (JSE) Combined Index declined on Tuesday with an advance/decline ratio of 29/40. The index moved down  by 3,306.08 points or 0.90 per cent to close at 366,023.21. The JSE Main Market Index declined by 3,207.50 points...

Published:Tuesday | July 14, 2020 | 12:29 AM

As United States sanctions scare away the world’s largest shippers from Venezuela’s oil industry, new players are willing to brave the heightened risks and help keep leader Nicolás Maduro afloat, according to a new report. In the first year since...

Published:Sunday | July 12, 2020 | 12:24 AM

Brazil’s government on Thursday proposed that global asset managers adopt protected areas in the Amazon rainforest in order to curb illegal deforestation ahead of the season farmers traditional use of fire to clear land and brush. Vice President...

Published:Sunday | July 12, 2020 | 12:22 AM

ADVISORY COLUMN: PRODUCTIVITY There are a few moments in your employees’ careers when they go into shock. However, it is not because too much is demanded of them – in fact, it is the very opposite. In prior columns, I shared what sometimes...

Published:Sunday | July 12, 2020 | 12:21 AM

ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER The money market is the market for marketable financial instruments with a maturity of up to one year. Some are issued by Government and some by corporations, but in our market, most are government-...

Published:Sunday | July 12, 2020 | 12:20 AM

New Fortress Energy, the sole natural gas supplier to Jamaica, announced in July that it would buy gas on the open market after terminating a deal to buy more expensive gas contracts, but it is not clear whether it will result in cheaper light...

Published:Sunday | July 12, 2020 | 12:16 AMKarena Bennett - Business Reporter

Phase one of Ruthven Towers, the residential development that sparked concerns over unit prices that were more expensive than those normally set by the National Housing Trust, NHT, will soon be placed on the market. The NHT subsequently returned to...

Published:Sunday | July 12, 2020 | 12:14 AM

An anti-trafficking organisation has filed a petition to ban the importation of palm oil produced by one of the world’s largest suppliers, saying it found evidence of child and forced labour on plantations that supply American food and cosmetics...

Published:Sunday | July 12, 2020 | 12:14 AM

Unless it further appeals and is successful, National Commercial Bank Jamaica, NCB, will have to fork over hundreds of millions to the NCB Staff Association, which has prevailed in a long-running battle over a profit-sharing arrangement. In the...

Published:Friday | July 10, 2020 | 12:20 AMNeville Graham - Business Reporter

For two years, a company called Fuel Deals Express, FDE, has been carving out market share in the competitive petroleum sector through a service built around exclusivity and membership. Don’t arbitrarily drive up to the single island at FDE, cash...

Published:Friday | July 10, 2020 | 12:19 AMKarena Bennett - Business Reporter

In three weeks, Community...

Published:Friday | July 10, 2020 | 12:18 AM

Given the toll of the coronavirus on the economy, businesses are expected to run into even more cash flow problems, warns Howard Mitchell, the immediate past president of the Private Sector Organisation of Jamaica, PSOJ. “I see a tightening up of...

Published:Friday | July 10, 2020 | 12:18 AM

OP-ED CONTRIBUTION: EMERGING MARKET ADVISER The Ecuadorean government, led by President Lenin Moreno, announced that it had reached an agreement with its principal bondholders on the terms of the restructuring. A series of 10 outstanding bonds...

Published:Friday | July 10, 2020 | 12:18 AM

Deutsche Bank has agreed to pay US$150 million to settle claims that it broke compliance rules in its dealings with the late sex offender Jeffrey Epstein, New York state announced Tuesday. The penalty was announced in a release by Superintendent of...

Published:Friday | July 10, 2020 | 12:18 AM

Mining giant Rio Tinto said Thursday it will close its aluminium smelter in southern New Zealand, resulting in 1,000 job losses and dealing a major economic blow to the region. But environmentalists say the closure of the Tiwai Point smelter could...

Published:Friday | July 10, 2020 | 12:17 AM

KLE Group, the restaurant operator led by Gary Matalon and backed by Director Joe Bogdanovich, spent the equivalent of about $100 million to reacquire its franchise restaurant in Montego Bay, according to documents released this week. The deal was...

Published:Friday | July 10, 2020 | 12:17 AM

A global survey of angel investors has found that more than 60 per cent of start-ups plan to change their business model, while just over a third have definite plans to shift their strategy given the economic effects of COVID-19. A May 2020 survey...

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