Bondholders are set to vote in December on terms for payment or an extension of the outstanding bonds issued by companies ultimately controlled by investor and chairman of Portland Private Equity, Michael Lee-Chin….
Category: Business & Economy
UK Labour government tries to fight back with tax-raising budget
Britain’s centre-left Labour government sought to seize the political narrative Wednesday with a tax-raising budget that it hopes will boost economic growth, reduce child poverty and ease cost-of-living pressures. But the budget’s contents…
Brace for recession but bank on resilience, says PIOJ
The Planning Institute of Jamaica, PIOJ, says said that while the country should expect a recession, steps are being taken to strengthen the economy’s ability to withstand future weather shocks. The agency is…
Produce stockpile aids Spur Tree Spices’ recovery from Melissa
In the wake of Hurricane Melissa, Spur Tree Spices Jamaica Limited says it manufacturing operation has suffered no downtime due to its decision to stockpile raw material for the range of seasonings and…
Brazil hails ‘significant progress’ after tariff rollback, seeks more exemptions
Brazil’s Vice President Geraldo Alckmin on Friday hailed US President Donald Trump’s order to remove the additional import tariffs on some agribusiness products as “significant progress”, but said the country will keep pushing…
BOJ holds rates steady amid Hurricane Melissa fallout, expects inflation to return to normal by 2027
The Bank of Jamaica (BOJ) has opted to keep its policy rate unchanged at 5.75 per cent per annum, amid mounting inflation pressures following the passage of Hurricane Melissa. The decision was taken…
Regency sees sales uptick since Melissa
Regency Petroleum Company Ltd expects stronger sales in the wake of Hurricane Melissa. “People are signing up for our membership programme in droves,” according to founder and CEO Andrew Williams in a Financial…
Kaya takes a beating from Melissa
Kaya Limited, operator of cannabis stores in Jamaica, reported strong financial gains for the September quarter. But its next report will be coloured by Hurricane Melissa, which inflicted severe damage across the company’s…
Stocks swing to close US trading week
More swings hit Wall Street on Friday, except the US stock market finished higher this time. After bobbing up and down through the morning, the S…
Verizon to cut more than 13,000 jobs
Verizon is laying off more than 13,000 employees in mass job reductions that arrive as the telecommunications giant says it must “reorient” its entire company. The job cuts began on Thursday, per a…