The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White…
Category: Business & Economy
Microsoft commits to sweeping AI privacy rules for students
Millions of students every day turn to AI chatbots for help with schoolwork, emotional support and personal advice – often unaware of where their conversations and other personal information end up. How that…
Island Grill targets 30 stores by 2030 in stepped-up expansion
Island Grill plans to grow its restaurant network by two-thirds to 30 outlets by 2030, a target that overtakes the goal the chain set a year ago. Chief Executive Officer Tania Waldron-Gooden told…
Fontana sales hit record, but costs weigh on profit
Fontana Limited generated record revenue but lower profit across its enlarged 11-store pharmacy network. It plans to cut costs going forward. “The next phase will focus on inventory optimisation, purchasing efficiencies and improving…
Omni sees local growth but shrinking oversees sales
Omni Industries Limited has cut its export ambitions by half and stretched the deadline, telling shareholders it now wants overseas sales to reach 10 per cent of revenue within five years – down…
FSC sets up innovation unit, sandbox for new financial products
The Financial Services Commission (FSC) has established two departments – an Innovation Unit and a Market Growth & Development Department – to give securities, insurance and private pension firms an earlier channel to…
Africa’s biggest oil refinery opens to public ownership, sparking excitement among retail investors
Nigerian industrialist Aliko Dangote opened his refinery to public ownership on Monday with plans to raise US$1.6 billion from retail investors across the continent in Africa’s biggest initial public offering, or IPO. Dangote,…
Anthropic CEO Dario Amodei says AI industry needs to give safety measures time to catch up
The CEO of Anthropic said Saturday the artificial-intelligence (AI) industry should slow its fast-moving development to give safety measures time to catch up. Without such a slowdown, Dario Amodei warned that, within six…
EduFocal to keep AGM vote results under wraps up to 30 days
Shareholders in EduFocal Ltd voted on renaming the company and authorising the issue of new shares at Thursday’s annual general meeting (AGM), but the company will announce both results at a later meeting….
Liberty Business launches AWS cloud partnership in Jamaica
Liberty Business has launched a partnership with Amazon Web Services in Jamaica, giving local companies and government agencies access to AWS cloud services through the telecommunications provider’s own network, data centres and support…