Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately US$29 billion, just six months after a judge ordered the company to revoke his massive pay package. The…
Category: Business & Economy
How meme stocks are born
Investors occasionally scoop up shares of companies whose financial prospects appear dim. The consensus around such companies is that the shares should, if anything, fall further. But then they suddenly get touted in…
Jamaica government devising new public sector banking policy
The Government of Jamaica aims to better manage its cash resources of about $100 billion flowing through financial institutions. The Ministry of Finance is in the process of recruiting consultants to help craft…
Caymanas SEZ first phase to cost $8b, span four years
The first phase of the Caymanas Special Economic Zone, CSEZ, project will take four years to complete at a cost of $8 billion, Chairman of the Port Authority of Jamaica Alok Jain has…
JPS strikes conciliatory tone, awaits talks with GOJ over licence
The leadership of the Jamaica Public Service Company Limited, JPS, is preparing for negotiations with the Government of Jamaica towards a new all-island electricity licence agreement when its current exclusive arrangement expires in…
American economy rebounds in second quarter
The United States economy expanded at a surprising three per cent annual pace in the April-June period, bouncing back at least temporarily from a first-quarter drop that reflected disruptions from the US trade…
JAMCOPY to increase royalty payouts
Jamaican Copyright Licensing Agency, known as JAMCOPY, paid out $30.3 million in royalties at the end of last year to more than 900 rightsholders whose works appeared in print, the organisation reported at…
Seprod looking to extract more synergies from workforce
Manufacturing and distribution company Seprod Limited is looking to extract maximum benefit from its acquisition programme over the last two years. Reporting to shareholders on Monday, CEO Richard Pandohie said since the company’s…
Russian airline Aeroflot grounds multiple flights after cyberattack
A cyberattack on Russian state-owned flagship carrier Aeroflot caused a mass outage to the company’s computer systems on Monday, Russia’s prosecutor’s office said, forcing the airline to cancel more than 100 flights and…
Portland JSX going solo
Portland JSX Limited will now invest directly into businesses rather than pool with other funds. “Going forward, PJX has transitioned from a fund-based investment model and will pursue a strategy focused on direct…