Jamaica Business News

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Updated: 10 hours 5 min ago

Israel's Teva buys Allergan generic drug company for US$40b

16 hours 43 min ago
Israel's Teva Pharmaceutical Industries Limited said Monday it is purchasing Dublin-based Allergan PLC's generic pharmaceuticals business for US$40.5 billion, in what Israeli analysts called the largest-ever acquisition by an Israeli...

Shanghai share index dives again

16 hours 43 min ago
The Shanghai share index dived 8.5 per cent Monday as Chinese stocks suffered a renewed sell-off despite government efforts to calm the market.The Shanghai Composite Index closed down at 3,725.56 with most of the plunge occurring in the last hour of...

Ideal Betting ownership battle - Sadler, Lewis sue each other in Supreme Court

July 26, 2015 - 12:00am
A Kingston businessman has filed a claim in the Supreme Court against the principal shareholder and chairman of Ideal Betting Company Limited, Donovan Lewis, contending that shares were created and allotted in breach of the company's articles of...

BSJ regulatory unit to be spun off into new agency

July 26, 2015 - 12:00am
The regulatory division of the Bureau of Standards Jamaica (BSJ) is to be separated from the agency and transformed into a new body called the National Compliance, and Regulatory Authority (NCRA).The BSJ will stay focused on its core job of...

New York couple opens bed and breakfast at Cardiff Hall

July 26, 2015 - 12:00am
Cardiff Hall, St Ann, will soon have another hospitality offering called The Runaway, a four-room bed and breakfast spot being developed by a young couple from Brooklyn, New York.Jeff Belizaire and Kalisa Martin, both of whom have Caribbean roots,...

From foodie to finance - How to make the career jump

July 26, 2015 - 12:00am
QUESTION: I am a chef and caterer who has a deep interest in securities and portfolio management as a career. I'm seeking advice as to where to start with the possible career change.- FrancisFINANCIAL ADVISER: To work in the securities industry, you...

Dear insurance - broker, you're fired!

July 26, 2015 - 12:00am
QUESTION: I did a Donald Trump on my insurance brokers. I fired them last week. After being with them for 12 months, I discovered that I was driving my vehicle for over one month without any insurance. The company did not even send me a notice to...

Making money from workshops

July 26, 2015 - 12:00am
Question: I'm a university graduate and have sent out hundreds of job applications for several months with no luck at getting a job. I've come up with a wonderful idea to start running workshops on marketing and business management, which I majored...

Cuba and the Internet

July 26, 2015 - 12:00am
In the last seven months, much has been written about Cuba and the reopening of full diplomatic relations with the United States.For the most part, media interest has outpaced reality, demonstrating little understanding of the difficulty of what...

Fiat Chrysler recalls 1.4M - vehicles to prevent hacking

July 26, 2015 - 12:00am
Fiat Chrysler has decided to recall about 1.4 million cars and trucks in the United States just days after two hackers revealed that they took control of a Jeep Cherokee SUV over the Internet.The company also disclosed in government documents that...

Hilton closes Puerto Rico casino amid crisis

July 26, 2015 - 12:00am
One of Puerto Rico's biggest and best-known casinos closed Wednesday after 40 years of operation in another blow to the United States territory'sstruggling economy.The Condado Plaza Hilton laid off 144 workers from the seaside casino located in the...

Puerto Rico power company rejects bondholders' debt plan

July 24, 2015 - 12:00am
Puerto Rico's power company on Thursday rejected a new proposal from bondholders that calls for an US$8.1 billion debt exchange amid growing concerns the public agency could be the first one in the United States territory to go bankrupt. The...

Jamaica registers bonds for debt buy-back as PetroCaribe deal advances

July 24, 2015 - 12:00am
Jamaica has formally told the global markets that it has an agreement in principle to buy back a portion of its PetroCaribe debt for US$1.5 billion, but did not say how much of the debt it will liquidate and what discount it is being offered by the...

Court tosses Flow lawsuit to bar Latty from Digicel job

July 24, 2015 - 12:00am
The Supreme Court has thrown out an application by Columbus Communications, which trades as Flow, to bar Digicel Jamaica from employing former Managing Director Sean Latty for at least nine months.The judge ruled that the restraint clause imposed on...

Jamaica hedges another two million barrels of oil

July 24, 2015 - 12:00am
The Jamaican Government bought coverage for an additional two million barrels of crude under its oil hedge programme last week.The latest and third contract, which it executed with Citibank on July 13, pushed the cost of the initiative to US$27.9...

Proven backing EDJ Acquisition's Petcom bid

July 24, 2015 - 12:00am
Proven Investments Limited has agreed to back as much as 55 per cent of the financing needed by a local consortium of bidders who are going after the Petcom asset.Christopher Williams, chief exe-cutive officer of Proven Manage-ment Limited, the...

Bauxite lev y w ipes out Noranda's port expansion savings

July 24, 2015 - 12:00am
Noranda Aluminum Holding saw its projected US$5-million annual savings from its expanded port in Discovery Bay, St Ann, wiped out in a single quarter as a result of the imposition of an interim bauxite levy in its second quarter ending June 30.It...

Dealers, FSC remain at odds over retail repo market size

July 24, 2015 - 12:00am
The Financial Services Commission (FSC) is still nudging securities dealers towards reducing their repo holdings despite the backstop in the form of a repo trust as a vehicle through which the companies will shed the risk associated with the bundled...

Stewart's Auto taking over Land Rover, Jaguar dealerships

July 24, 2015 - 12:00am
Stewart's Auto Sales Limited has snagged luxury dealerships formerly repre-sented by ATL Automotive, a division of the ATL Group, and will begin to sell the Jaguar and Land Rover brands as of September 1.The ATL Autohaus showroom in New Kingston is...

Jamaicans suffer payslip erosion

July 24, 2015 - 12:00am
Two days ago, a letter writer from Mandeville, Joneshia Bryan-Thomas, had a letter published in this newspaper that summed up the financial plight facing Jamaicans who have jobs.The writer states that those in authority are taking workers' cash 'by...