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  • PepsiCo to cut jobs after flat sales

    February 14, 2018 4:33 AM 23

    PepsiCo Inc reported flat revenue for the last few months of 2017, and said that it will cut some jobs while giving others bonuses of up to US$1,000. The layoffs, which will affect its corporate employees, amounts to less than one per cent of its more than 110,000 employees, the company said Tuesday. Bonuses go to those who make PepsiCo's snacks and drinks

  • Cable Bahamas mobile build-out stalls profits

    February 14, 2018 4:33 AM 37

    Telecoms company Cable Bahamas Limited posted a net loss of Bah$15 million for its first quarter ended September, quadrupling the bleed reported in the comparative period in 2016. Head of finance, Kino Williamson, said the result was expected because of the continued build-out of operations to support the cable television company's foray into the mobile

  • Oxfam deputy head resigns after Haiti sex scandal

    February 13, 2018 6:52 AM 20

    LONDON, United Kingdom (AFP) — The deputy chief executive of Oxfam resigned on Monday over the British charity's handling of a prostitution scandal in Haiti involving its staff members and allegations of similar behaviour in Chad. “As programme director at the time, I am ashamed that this happened on my watch and I take full responsibility,” Penny Lawrence

  • MSBM wins international innovation award

    February 9, 2018 5:27 AM 19

    The Mona School of Business and Management (MSBM) won the Business School Innovation Award for its Financial Markets Lab, at the Annual AMBA Gala Dinner and MBA Excellence Awards held in London on February 2. International deans and directors, distinguished MBA alumni and MBA students representing a wealth of AMBA-accredited Business Schools attended

  • Trudeau: Canada against bad NAFTA deal

    February 9, 2018 5:00 AM 23

    Canadian Prime Minister Justin Trudeau on Wednesday said his nation will not be pushed into any redo of the North American Free Trade Agreement (NAFTA) that does not benefit Canada. Speaking at the University of Chicago's Institute of Politics, Trudeau said Canada will engage "thoughtfully and constructively" in talks with the United States and Mexico

  • The importance of financial system stability

    February 7, 2018 5:22 AM 23

    When you hear the term “financial stability,” words like freedom, retirement and security may readily come to mind. We usually think of financial stability as a synonym or prerequisite for financial independence. When the Bank of Jamaica (BOJ) refers to financial stability, however, it is referring to financial system stability. Financial system stability

  • US trade gap hits US$566b, highest since 2008

    February 7, 2018 5:00 AM 27

    The United States trade deficit hit the highest level in nine years in 2017, defying President Donald Trump's efforts to bring more balance to America's trade relationships. The US Commerce Department said Tuesday that the trade gap in goods and services rose to US$566 billion last year, the highest level since US$708.7 billion in 2008. Imports set a record

  • Broadcom raises Qualcomm bid to more than US$121b

    February 7, 2018 4:13 AM 24

    Broadcom boosted its bid for Qualcomm to more than US$121 billion in cash and stock Monday in what would be the largest tech deal in history. Broadcom Ltd said that its "best and final offer" of US$82 per Qualcomm share includes US$60 in cash and the rest in Broadcom shares. Qualcomm, which makes the omnipresent Snapdragon chips used in smartphones and tablets

  • Tax liability and transfer pricing rules

    February 7, 2018 4:13 AM 25

    The 2015 amendment of the Income Tax Act builds on the transfer pricing provisions that have existed in our legislation since 1970. This amendment adds the 'arm's length' principle, which requires companies that engage in transactions with connected persons to take special consideration when calculating their income tax liability. A transfer price is adopted

  • British tourists to return to Tunisia after security boost – minister

    February 4, 2018 5:18 AM 21

    TUNIS, Tunisia (AFP) – Britain's security minister, Ben Wallace, on Friday praised efforts by Tunisia to boost security and said he expects a return of tourists from his country, two-and-a-half years after a terror attack on a beach in which 30 Britons were killed. “It's been really impressive what I've seen over the last few days,” Wallace told reporters