Jamaica will introduce new legislation so taxpayers won’t bear the cost of rescuing troubled financial firms. “Do not forget that when an institution fails, and the taxpayer has to draw the cheque, then…
Category: Business & Economy
Wigton wins tax argument
Renewable energy company Wigton Windfarm Limited says a 172 per cent spike in annual profit was mostly due to a tax windfall. Because of the tax credits, its earnings for year ending March…
Lasco companies consider merging to grow
Lasco Distributors Limited and Lasco Manufacturing Limited are thinking of merging to combine their cash and grow their business. It could position them to buy large companies and improve how they operate. “It…
Big Lasco affiliates add to earnings, but finco fizzles
Two of the three Lasco-affiliated companies listed on the Jamaica Stock Exchange made higher profit for the financial year ending March 2024, but the financial arm struggled a bit. Lasco Distributors Limited’s profit…
Pan Jamaica exits DomRep water business, buys new juice operation in Spain
Two-and-a-half years after Jamaica Producers Group partnered with Norbrook Equity Partners to acquire Grupo Alaska SA, the two companies have sold the ice and bottled water operation in Dominican Republic. The size of…
Oil producers led by Saudis extend supply cuts amid slack prices
Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven’t risen even amid turmoil in the Middle East and…
JCCUL looking to become ‘banker’ to credit unions
JCCUL, the umbrella body which acted as overseer of credit unions, is itself in the process of transitioning to a new role now that the community banks are to be placed under the…
Led by Norbrook, Jamaican group acquires fast-food chains in Panama
A Jamaican investment group, led by Norbrook Equity Partners Limited, has bought into the KFC and Dairy Queen franchises in Panama. Norbrook, backed by JMMB Group, along with minority investors Sygnus Deneb Investments,…
Toyota apologises for cheating on vehicle testing, halts production of three models
Toyota Chairman Akio Toyoda apologised Monday for massive cheating on certification tests for seven vehicle models as the automaker suspended production of three of them. The wide-ranging fraudulent testing at Japan’s top automaker…
Technical issues briefly halt trading for some NYSE stocks in the latest glitch to hit Wall Street
NEW YORK (AP) — A technical issue caused the temporary halt for some stocks listed on the New York Stock Exchange Monday, including at least one whose price briefly fell nearly 100 per…