Wed | Jun 19, 2019

Business

Published:Friday | May 10, 2019 | 12:14 AMMcPherse Thompson - Assistant Editor-Business

A section of the law governing court procedures has been declared unconstitutional by the Court of Appeal, a decision that likely sets the stage for new challenges to past default judgments issued by the Supreme Court. A default judgment is entered...

Published:Thursday | May 9, 2019 | 10:55 AM

The use of independent contractors, such as consultants and freelancers, has long been a strategy employed by businesses as a means of reducing workforce costs or gaining more flexibility to dismiss workers when they are no longer needed. Some...

Published:Thursday | May 9, 2019 | 12:28 AM

Some drivers for ride-hailing giants Uber and Lyft turned off their apps Wednesday to protest what they say are declining wages at a time when both companies are raking in billions of dollars from investors. Demonstrations took place in 10 US...

Published:Wednesday | May 8, 2019 | 12:25 AM

The Editor, Sir: We refer to your article headlined “BOJ Downplays Internal Forex Split” in the Sunday Gleaner of May 5, 2019, which contains in the headline and in the body of the article false and misleading statements about the governance of...

Published:Wednesday | May 8, 2019 | 12:16 AMSteven Jackson/Senior Business Reporter

JMMB Group, one of the largest financial service providers, advised its clients to consider cutting their losses and sell their Digicel bonds, which is now trading at around 33 cents on the dollar. It’s a sign that investors are losing patience...

Published:Wednesday | May 8, 2019 | 12:14 AMNeville Graham/Business Reporter

Jamaica need only prove that it can supply three-quarters of the market for condensed and evaporated to gain protection for manufacturers, but a top dairy producer, Seprod Limited, says it already has the capacity to serve 100 per cent of the...

Published:Wednesday | May 8, 2019 | 12:12 AMSteven Jackson/ - Senior Business Reporter

Gaming conglomerate Supreme Ventures Limited, SVL, is acquiring Jamaica’s largest sports bookmaker, Any Bet, which would result in SVL controlling around 90 per cent of the market. Any Bet is the trading name for Post to Post Betting Limited and is...

Published:Wednesday | May 8, 2019 | 12:12 AM

BMW lost money making cars in the first quarter as its automotive division was hit by a €1.4-billion (US$1.6-billion) set-aside for an antitrust fine from the European Commission and by higher upfront costs for new technology and factories. The...

Published:Wednesday | May 8, 2019 | 12:11 AM

A group of institutional investors is sinking US$1.15 billion into GM Cruise LLC, the autonomous vehicle unit of General Motors. Cruise announced the investment from a group led by T. Rowe Price on Tuesday and said it included money from GM, Honda...

Published:Wednesday | May 8, 2019 | 12:11 AM

Efforts to end a US-China trade war are in shambles after the United States accused China of reneging on its commitments and prepared to raise import taxes on US$200 billion worth of Chinese goods. A Chinese delegation is headed to Washington to...

Published:Wednesday | May 8, 2019 | 12:09 AMHuntley Medley/Senior Business Writer

The family has a longer history in the grocery retail market, but is now putting money into real estate development, rental and sales, to drive earnings and profits. Having bought the former Baron’s Plaza on Constant Spring Road, remodelled and...

Published:Wednesday | May 8, 2019 | 12:05 AMNeville Graham/Business Reporter

The manufacturing division of FosRich Company is up and running, making it Jamaica’s sole producer of PVC pipes, used as electrical conduits and drains. FosRich invested more than $150 million in equipment, training and market preparations, said...

Published:Tuesday | May 7, 2019 | 7:37 PM

GraceKennedy and the Musson Group have partnered to enter the group health and life insurance market under the name Canopy Insurance Limited.  In a statement this afternoon, the company said it is ramping up preparations to begin operations...

Published:Tuesday | May 7, 2019 | 12:20 AM

In what could be a grim preview of how investors might react to a full-out trade war between the world’s two largest economies, shares in multinational corporations sank Monday after United States (US) President Donald Trump threatened new tariffs...

Published:Monday | May 6, 2019 | 4:44 PM

The website of the Jamaica Stock Exchange (JSE) went down intermittently from Sunday but trading was largely unaffected, sources indicate. At 4.30 p.m. the site would not load, but read “service unavailable”. Three traders indicated that the...

Published:Sunday | May 5, 2019 | 12:22 AM

ADVISORY COLUMN: INSURANCE HELPLINE Today’s piece is part two of my March 10 ‘Garbage in, Garbage out’ column. Garbage was used twice as metaphors. The first described an insurer’s argument. The second was a one-word opinion about its decision not...

Published:Sunday | May 5, 2019 | 12:22 AM

COLUMN: FOREIGN POLICY In a more normal world, a communication produced by the European Commission setting out the main elements of Europe’s future policy towards Latin America and the Caribbean might only be of passing interest. However, at a...

Published:Sunday | May 5, 2019 | 12:21 AM

ADVISORY COLUMN: PERSONAL FINANCIAL ADVISER QUESTION: How can I benefit from the new gains in the stock market? – Lois FINANCIAL ADVISER: If you have not yet benefited from the gains in this run of the stock market, you have missed quite a lot....

Published:Sunday | May 5, 2019 | 12:21 AM

ADVISORY COLUMN: PRODUCTIVITY Why does your company appear to repeat simple mistakes so often? If you are a manager, it’s exhausting to chase one error after another, doing little more than fighting fires. There may be a better approach: use the...

Published:Sunday | May 5, 2019 | 12:19 AMNeville Graham - Business Reporter

Integrated cannabis firm Epican is now rolling out its second store at a prime location along the Jimmy Cliff Boulevard in Montego Bay otherwise called the Hip Strip. Then later this year, it will add three more retail shops in Negril, Falmouth,...

Published:Sunday | May 5, 2019 | 12:17 AMMcPherse Thompson - Assistant Editor-Business

The Bank of Jamaica (BOJ) is again pointing to plans to introduce a trading platform that is meant to ensure that Jamaica has a liquid foreign exchange market by facilitating transactions among authorised dealers and large cambios. It reaffirmed...

Published:Sunday | May 5, 2019 | 12:16 AMSteven Jackson - Senior Business Reporter

Jamaica’s banks experience nearly two cyberattacks per week on average, and in one extreme month, hackers made off with $10 million, according to the latest official data. The average losses, however, amount to just over $4 million per month. “For...

Published:Sunday | May 5, 2019 | 12:15 AM

Tesla is increasing the amount of money it will attempt to raise to as much as US$2.7 billion. The Palo Alto, California, electric car and solar panel maker said on Friday that it’s raising the offer due to the positive response from Thursday’s...

Published:Friday | May 3, 2019 | 12:26 AM

When Chris William-son was in the market for a new family car, a timely ad and conversations with a co-worker convinced him to try something out of the ordinary. He bought a BMW 3 Series convertible and covers the payments by renting it to...

Published:Friday | May 3, 2019 | 12:26 AMHuntley Medley - Senior Business Writer

The World Bank is talking up the Jamaican economy and expressing confidence in the government’s policy direction. This week, it announced another US$140 million in loans not originally planned for Jamaica, which adds to its already approved...

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