Business

Success Breeds Success

Success Breeds
Success

Last week we discussed the importance of throwing aside your reservations when it comes to creating independent sources of income. As the saying goes, "Fortune favours the bold;" so if you need to earn more to pay bills and achieve your goals, you have to become courageous in trying to make money. ... Read More

Major General Stewart Saunders (left), retired chief of defence staff of the Jamaica Defence Force, Willard
Brown (second left), vice-president at Sagicor Group Jamaica, Richard Byles (centre), president
of Sagicor, Peter Bunting, security minister, and Jennifer McDonald, head of Passport
Immigration and Citizenship Agency (PICA). Sagicor donates first fever scan machine for ebola detection at Jamaica's ports
SAGICOR Group Jamaica yesterday donated $4.3 million to purchase a fever scan machine for the Minist ... Read More

Carib to start
new cement
supply deal
with Venezuela
this month Carib to commence new cement supply deal with Venezuela this month
THE island's sole cement manufacturer Caribbean Cement Company (Carib) plans to resume exports to Ve ... Read More

A specialist is reflected in a screen at his post that
shows five years of the Dow Jones industrial average,
on the floor of the New York Stock Exchange. S&P 500 has best day of 2014
NEW YORK, USA THE US stock market marched higher yesterday, giving the Standard & Poor's 500 in ... Read More

Samsung seeks boost from redesigned Note

Wednesday, October 22, 2014    

The Samsung Note

SEOUL, South Korea (AP) - The latest version of Samsung's popular big-screen Galaxy Note has gone on sale at a crucial time for the South Korean company as it suffers a rapid decline in profit from its global smartphone business. With the Note 4 launch in the US last week, Samsung introduced one of the biggest design changes to the Note series since it started sales three years ago, ditching plastic in favour of metal for its frame. The choice is not a result of a change in the company's desig ... Read More

Amazon, Simon & Schuster sign book retail deal

Wednesday, October 22, 2014    

Amazon, Simon & Schuster sign book retail deal

NEW YORK, United States (AFP) — Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing. The mutli-year deal with Simon & Schuster, expected to come into effect in early January, allows print and electronic editions from the American publisher to be marketed and retailed by Amazon. The books "will be continuously available for sale at this major retai ... Read More

Microsoft's Nadella gets US$84 million pay package

Wednesday, October 22, 2014    

NADELLA…got a salary for the fiscal year that ended June 30 of US$918,917 and a
US$3.6 million bonus. He also was given stock awards worth nearly US$79.8 million but
most of the payments will be made over several years. (PHOTO: AFP)

REDMOND, Wash. (AP) - Microsoft has given its new CEO Satya Nadella a pay package worth US$84.3 million, most of it in the form of long-term stock awards. A regulatory document filed Monday shows Nadella got a salary for the fiscal year that ended June 30 of US$918,917 and a US$3.6 million bonus. He also was given stock awards worth nearly US$79.8 million, but most of the payments will be made over several years. Microsoft said Nadella's actual compensation for the company's fiscal year 2014 i ... Read More

How to unlock growth in Jamaica

BY KEITH COLLISTER | Wednesday, October 22, 2014    

ZACCA... The tourism and manufacturing sectors contribute to
20 per cent of GDP, but they get incentives equal to one per
cent of GDP

LAST year, in a June 2013 speech reported in the press, PSOJ President Chris Zacca noted that he had some concerns about the thinking of the multilaterals, and indeed some of our Government officials, on the subject of incentives. Zacca noted that driving the thinking of some local and international advisors is the view that incentives create a huge drain on tax revenue and that businesses benefit the most from these exceptions to the normal tax rates. At the time, he revealed that the PSOJ had ... Read More

Sprint cuts 452 jobs at its Kansas headquarters

Wednesday, October 22, 2014    

Sprint cuts
452 jobs at
its Kansas
headquarters

KANSAS, United States (AP) — Sprint Corporation has cut 452 jobs from its Overland Park headquarters as part of a previously announced cost-cutting effort, the nation's third-biggest cell-phone carrier disclosed in a filing with the Kansas Department of Commerce. The report, which was filed Friday, covers the first instalment of layoffs planned throughout October. It doesn't cover any job losses outside the headquarters campus, although they are believed to be happening too, The Kansas Ci ... Read More

Middleman beware

Wednesday, October 22, 2014    

CROSS-BORDER Indemnities sound very fancy and they are likely to be complicated. However, cross-border liability can arise here almost every day. In Jamaica, where we import so many foreign manufactured goods, the regular consumer is an end user to cross-border transactions on an extremely regular basis. A Jamaican business, Brown Cow Co, imports widgets into Jamaica and sells them at its store. John Q Public purchases a widget from Brown Cow. Unfortunately, this widget is defective and it expl ... Read More

Facebook sues lawyers over 'scam' lawsuit for stake

Wednesday, October 22, 2014    

ZUCKERBERG... seeks damages from members of big law firms
(PHOTO: AP)

NEW YORK, United States (AFP) - Facebook Monday sued lawyers who represented a man claiming he was entitled to a stake in the huge social network, saying they should have known he was a scam artist. The lawsuit by Facebook and founder Mark Zuckerberg seeks damages from members of big law firms DLA Piper and Milberg LLP, as well as other lawyers participating in the case, saying they "conspired to file a fraudulent lawsuit" on behalf of Paul Ceglia. Ceglia filed his complaint in 2010, claiming ... Read More

KLE eyes first overseas Tracks & Records for 2015

BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com | Wednesday, October 22, 2014    

KINGSTON Live Entertainment (KLE) Group now expects to set up the first Tracks & Records (T&R) restaurant overseas by 2015. Concurrently, CEO Gary Matalon revealed that the directors including himself served without pay at the loss- making company. "From September last year, over nine months I went with zero renumeration... in order to get the company back on a sure footing," added Matalon. It's the latest timeline for the franchise expansion, but outspoken shareholder Orette Staple r ... Read More

Blow to Japan PM as minister resigns over money scandal

Wednesday, October 22, 2014    

Obuchi appeared to have fallen foul of sloppiness in a culture where gift giving
is common.

TOKYO, Japan (AFP) - Japan's high-profile and telegenic industry minister on Monday resigned over claims she misused political funds, for the purpose of buying both votes and make-up, dealing a blow to Prime Minister Shinzo Abe's proclaimed gender reform drive. Yuko Obuchi who, as a 40-year-old woman, is a rarity in a world of Japanese politics dominated by older men, told a press conference carried live on multiple television channels that parliamentary business had been stalled because of qu ... Read More

India frees diesel prices, easing state grip on ecomomy

Wednesday, October 22, 2014    

Modi's administration has sharply hiked natural gas prices to
spur exploration in the fuel-import dependent nation

Prime Minister Narendra Modi's administration also sharply hiked natural gas prices to spur exploration in the fuel-import dependent nation. Huge energy imports contribute to India's trade deficit. "The prices of diesel will be market-determined at both the retail and refinery gate level for all consumers" and move in tandem with international prices, the government said in statement. The step would "benefit consumers due to greater competition among oil companies and more choices", it added. ... Read More



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