Jamaica Gleaner Business
Published: Monday Wednesday | May 27, 2009
Shell's top gas executive resigns - Passed over for top job
The top gas executive and highest-ranking woman at Royal Dutch Shell PLC, Linda Cook, is stepping down June 1, the company said Tuesday, without giving a reason.Cook, 50, was a candidate to replace Chief Executive Jeroen van der... Read More...
US$200m investment values Facebook at US$10b
Facebook is getting a US$200 million investment from a Russian Internet investor.The investment gives Digital Sky Technologies a nearly two per cent stake in the Palo Alto, California-based company's preferred stock.The deal presumes the company is... Read More...
'Hold your tongue' Medvedev takes jab at finance minister
Russian President Dmitry Medvedev took an apparent jab at Russia's finance minister Tuesday as he warned officials against making gloomy economic predictions."It's unacceptable when certain... Read More...
US consumer confidence soars in May, home prices fall
Consumer confidence extended its rebound in May, soaring to the highest level since last September as more American shoppers are feeling the worst of the recession is behind them.The Conference Board said Tuesday that its Consumer Confidence Index,... Read More...
Morgan Stanley trader fined, banned
Britain's financial services regulator fined and banned a Morgan Stanley trader on Tuesday for putting customers at a disadvantage by pre-hedging trades without their consent - the third sanction linked to the bank in... Read More...
JMA sides with cement importers
The Jamaica Manufacturers' Association is expected to tell Prime Minister Bruce Golding that it is siding with importers on the cement issue, a decision that could pit the association against its manufacturing member Caribbean Cement Company Limited (CCC)... Read More...
Chavez predicts return to US$100 oil
Venezuela's president Hugo Chavez says he believes oil prices could climb eventually to US$90 or US$100 a barrel. Hugo Chavez says he also is "more or less" in agreement with Saudi Arabia's estimate that in the more immediate future... Read More...
Spirits brands untouched - Red Stripe tags $7 on beer prices
Spirits brands untouched Beer maker Red Stripe has increased prices on its brews by $7 ($8.20 with consumption tax) to distributors of its products, but says those who imbibe should pay no more than an additional $10 at the cash counters of bars or... Read More...
Tastee, not Juici, at heart of patty quarrel - Both seeking market in Trinidad
Tastee Limited has for some time been embroiled in a trade battle involving Trinidad and Tobago, and not Juici Patties, as reported last Friday. The twin-island state has been accused of using non-tariff barriers to block the importation of the meat products ... Read More...
Carlton Savannah on the market - CREIT says Trinidad hotel to open July
Carlton Savannah REIT (CREIT), Jamaica's first and only real estate investment trust company, has reported that its one investment to date is now open for business and accepting reservations. The Trinidad-based Carlton Savannah Hotel has put the first 30 rooms... Read More...
Lascelles gets partial blame for late Angostura accounts
Angostura/CL Financial's purchase of Jamaican spirit company Lascelles de Mercado has been partly blamed for the delay of Angostura Holdings audited year-end accounts.But Angostura Holdings anticipate that it will now publish its December 31... Read More...
Lascelles reports $3b fall in value of investments - Says full value of AIC Barbados bonds will be recovered
Lascelles deMercado and Company is reporting a more than $3.5 billion depletion of its capital reserves, linked to a write-down on the fair value of its investments. At balance sheet date March 31, 2009, the company's investment portfolio at $7.2 billion... Read More...
COK, AIR partner on micro loan plan
COK Credit Union, through a partnership with the not-for-profit and faith-based Agency for Inner City Renewal (AIR), is offering unsecured loans to low-income residents in the city's core.Starting loans under the so-called 'LIVITY Economic Advance' plan... Read More...
US-Cuba thaw may mean compensation for lost assets - US$7 billion of property at stake
After 47 years, Mario Sanchez's memory of the house near the Havana Zoo where he was born has faded. But he has not forgotten the address, and can look at the roof using satellite imaging on his computer at his Florida home, 370 kilometres (230 miles) away.... Read More...
Grenada defaults on Taiwanese loan - Penalty grows at US$5,000 per day
The Grenada government says it is hoping to start negotiations soon with a bank in Taiwan on how best it can repay a delinquent loan now accumulating interest at a rate of more than US$5,000 a day... Read More...
Cuba plans energy blackouts - Cuts economic growth forecast
Cuba will this summer implement an energy-saving plan that could shut off air conditioners at work and require Saturday-morning blackouts at home, according to an unpublished government directive obtained... Read More...
