Business

David Smalling, a fast-rising star on Wall Street

SMALLING... at Harvard I managed to get pretty lucky with the advisors that I worked with.

“Considering the political climate, I think I should point out one thing that I think has been crucial to forming who I am, and I can relate this with my friends who went to Campion… In my year at Yale there were three of us ... Growing up the way I did I never really thought about race ... Read More

A view of Savannah-la-Mar, capital of Westmoreland. Change of thought over change of name process
Dear Claudienne: On Tuesday, November 1, 2016, I went to the Savanna-la-Mar branch of the Registrar ... Read More

Wisynco’s new warehouse (Photo: Joseph Wellington) Wisynco’s new warehouse nears completion
Less than a year after Wisynco Group Limited suffered over $2 billion in losses from a fire at its L ... Read More

MATTHEWS... I look forward to positively representing Jamaica Nadeen Matthews named Young Global Leader
Nadeen Matthews, Chief Digital and Marketing Officer for the NCB Group, joins the ranks of a noble ... Read More

Goldman Sachs to move London jobs abroad due to Brexit

Wednesday, March 22, 2017    

LONDON, United Kingdom — The Goldman Sachs building.

LONDON, United Kingdom (AFP) — US investment bank Goldman Sachs said yesterday that it plans to move jobs from London to elsewhere in Europe over the next 18 months because of Brexit. Goldman Sachs International Chief Executive Officer Richard Gnodde told CNBC television that the bank will “hire people inside of Europe itself and there will be some movement” out of London. He said Goldman would be raising headcount in offices outside Britain by “hundreds” as the ... Read More

Google tools up to fix ads in wrong places

Wednesday, March 22, 2017    

MOUNTAIN VIEW, United States — The Google logo at the Google headquarters in Mountain View, California (Photo: AFP)

LONDON, United Kingdom (AFP) — Google, which has seen a slew of companies withdraw ads after they appeared alongside extremist content, said yesterday it was introducing new tools to give firms greater control. “We know advertisers don’t want their ads next to content that doesn’t align with their values,” Google’s Chief Business Officer Philipp Schindler said in a post on the Internet giant’s blog. “So, starting today, we’re taking a tough ... Read More

JHTA calls for members to withhold property tax

By ALPHEA SAUNDERS Observer senior reporter saundersa@jamaicaobserver.com | Monday, March 20, 2017    

Minister of Finance Audley Shaw

THE Jamaica Hotel and Tourist Association (JHTA) is fuming at the levels of increases in property taxes being imposed on hotels, and has called on stakeholders to withhold payments until there is consultation with the Government. Minister of Finance Audley Shaw announced in the 2017/18 Budget Debate in the House of Representatives on March 9 that a new property tax regime will take effect on April 1, when property tax liabilities will be based on the adoption of the 2013 valuation roll. &ldqu ... Read More

Gaming Lounges Hit by High Credit Card Charges

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Sunday, March 19, 2017    

A view of the Acropolis in Barbican, Kingston

Chairperson of the Jamaica Gaming Association (JGA) and vice-president of Regulatory & Contract Compliance at Supreme Ventures, Tashia Hutton, has described as “a retrograde step” the practice by banks to charge clients a punitive fee for using their credit cards in gaming establishments. She says members of the gaming industry and their oversight body have been working assiduously to fulfil the requirements of the Proceeds of Crime Act and other regulations which reduce risk. ... Read More

Derrimon Trading to invest $100 million in new store, new brand

BY AVIA COLLINDER Business reporter collindera@jamaicaobserver.com | Sunday, March 19, 2017    

COTTERELL... Manor Park will include a fabulous deli with a wide variety of offerings

Derrimon Trading Company Ltd (DTL) has launched a new supermarket brand which is significantly different from its current Cash & Carry Sampars stores which offer wholesale shopping of food and consumables. The company said on Friday March 17 — by way of notice on the Jamaica Stock Exchange (JSE) — that it had established a joint venture company for the acquisition of the assets of Caribbean Home Entertainment Systems, the former operators of Carihome Supermarket at Shop # 15 at ... Read More

Pay but not play from Digicel

Claudienne Edwards | Sunday, March 19, 2017    

Dear Claudienne: On October 18, 2016, I signed up with Digicel for cable, internet and telephone service. I selected the Play Strong package and was required to make a deposit of $3,000. After making the payment I told the salesperson that as soon as I had a television set up in the apartment, I would call for installation of the service and she agreed. I am the owner of this apartment which had been vacant for nine months prior to that date. I called Digicel about a week later and was told ... Read More

No compensation for Mavis Bank Coffee Factory over flood loss

Sunday, March 19, 2017    

GRANT... Mavis Bank has received nothing out of the $100 million.(Michael Gordon)

Norman Grant, CEO of Mavis Bank Coffee Factory, says the factory is still awaiting compensation from the Coffee Industry Board (CIB) for coffee lost during flooding on Marcus Garvey Drive in Kingston in September 2016. An estimated 30 per cent of the year’s crop was lost when three warehouses were inundated during heavy rains. The beans — the property of several local producers — were awaiting shipment to markets abroad. Grant said that all producers affected by the flooding ... Read More

Aluminium giant Rusal doubles profits after sale of Alpart

Sunday, March 19, 2017    

The Alpart refinery in Nain, St Elizabeth.

HONG KONG, China (AFP) — Russian aluminium giant Rusal said Friday it had more than doubled net profit in 2016 after selling off one of its refineries. Shares in the Hong Kong-listed firm were up more than two per cent in early morning trading after the announcement which saw net profit jump from US$558 million to US$1.2 billion year on year. Results were boosted by the completion of the sale of its Alpart refinery in Jamaica, which went to China’s Jiuquan Iron and Steel (JISCO) f ... Read More

Central Americans fear end of vital US dollar lifeline

Sunday, March 19, 2017    

INTIPUCA, El Salvador — Local resident Jose Corpeño remembers his daughter, who migrated from their hometown to the US, in the town of Intipuca, 170 km southeast of San Salvador, on February 27.(Photo: AFP)

INTIPUCA, El Salvador (AFP) — Families across Central America are living in fear that US President Donald Trump’s anti-immigration policies will stem the vital flow of money sent home by migrants each year. The concern is that relatives who have emigrated without authorisation will be deported, suddenly ending the billions of US dollars in annual remittances sent to their impoverished countries. There are millions of Central Americans living legally in the United States — but ... Read More

Do you feel good about money?

With Dennise Williams | Sunday, March 19, 2017    

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It may feel as if the more hours you work, the further you retreat from your financial goals. And you may not have particularly grand plans, but just want to live a comfortable life and not be stressed about paying your bills. Now, there is a long list of situations and circumstances that you could blame for your current situation, and I would tend to agree with you. However, I want to share with you what I have learnt over the past few years. When working harder and longer hours isn&rsquo ... Read More



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