The sale of Massy Distribution Jamaica Limited to Caribbean Distribution Partners Limited, CDPL, is being assessed by the Fair Trading Commission. The pharmaceutical and consumer products distributor is owned by Massy Holdings Limited…
Category: Business & Economy
Disney and Universal sue AI firm Midjourney for copyright infringement
Disney and Universal filed a copyright lawsuit against popular artificial intelligence image-generator Midjourney on Wednesday, marking the first time major Hollywood companies have entered the legal battle over generative AI. Filed in federal…
Jamaica Producers to develop two properties
Jamaica Producers Group Limited, JPG, will be subdividing some of its lands in St Mary for villa construction, while another property will be utilised for a commercial complex. The company will be preparing…
Kingston Wharves developing multilevel facility for car cargo
Port company Kingston Wharves Limited will be a constructing a multi-level holding area for auto cargo next to its Newport West terminal in Kingston to facilitate the motor vehicle cargo transshipped through the…
Amazon to invest US$20b in data centres
Amazon said Monday that it will spend US$20 billion on two data centre complexes in Pennsylvania, including one it is building alongside a nuclear power plant that has drawn federal scrutiny over an…
Pan Jamaica to offload holdings worth $6b
Pan Jamaica Group Limited will be divesting a mix of listed equities and funds worth about $6 billion, Vice-Chairman and CEO Jeffrey Hall has said. “It’s to remove assets that we do not…
Digicel predicted to deliver US$800m in operating income
Telecommunications services provider Digicel Group received its first major debt rating since restructuring, with expectations for core earnings to reach US$800 million this financial year. Ratings agency Standard…
First Rock moves to regain Hambani Estate lots from Sagicor Bank
First Rock Real Estate Investment Limited announced plans to regain possession of the remaining lots at its Hambani Estate residential complex from Sagicor Bank Jamaica. Hambani Estate is a high-priced, luxury residential development…
Lee Issa to develop multi-family residences in Negril
Businessman and hotelier Elias ‘Lee’ Issa has received approval from the National Environment and Planning Agency, NEPA, to construct a multi-family development in Negril. While details on the project are sparse, the approval…
Meta turning to nuclear power for AI needs
Meta Platforms has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company. The investment with Meta will also…