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  • Dealer to set up auto parts remanufacturing operation in Trelawny

    January 26, 2018 5:00 AM 24

    A company that plans to sell remanufactured auto parts beat out three others to win the JSE Pitch Room on Wednesday. The company, called i-Card, will operate from its warehouse at Hague in Trelawny. It's led by car dealer Gordon Baldie. Initially, i-Card will act as a springboard to sell imported spare parts through funnelling regional orders from its unnamed

  • Former KPMG executives charged in accounting oversight scam

    January 24, 2018 6:23 AM 21

    WASHINGTON, United States (AFP) — US authorities on Monday charged six accountants, including former partners from “big four” global auditor KPMG, with using stolen information to cheat on inspections for corporate audits. The charges follow KPMG's decision last year to fire five former partners, including the head of its audit practice, after the company

  • Puerto Rico launches new drive for US statehood

    January 19, 2018 5:21 AM 19

    WASHINGTON, United States (AFP) – Hurricane-ravaged Puerto Rico has launched a new drive to become the 51st US state, with the island's governor demanding an end to “second-class” treatment of its citizens. Puerto Rico's more than three million residents are US citizens, with no obstacles to living and working on the mainland. Yet the US commonwealth

  • Emirates throws Airbus A380 a lifeline with US$16b deal

    January 19, 2018 5:00 AM 24

    The Middle East's largest airline, Emirates, is throwing Airbus a lifeline for its troubled A380 jumbo jet. The carrier said on Thursday that it struck a deal with Airbus to buy 20 of its A380 double-decker jets, with the option to buy 16 more, in a deal worth US$16 billion. Airbus had said earlier this week that if it didn't close the deal with Emirates

  • Seprod transfers dairy assets inhouse

    January 19, 2018 5:00 AM 22

    Seprod Limited has advised that it conducted a transfer of shares that shifted ownership of diary assets directly to itself from large shareholder Musson Jamaica. The transaction occurred on January 1, 2018, where shares of Musson Holding Limited were transferred, at a nominal cost, from Musson (Jamaica) Limited to Seprod Limited. The cost of the transaction

  • Sweet deal: Nestlé sells US candy to Ferrero for US$2.8 billion

    January 17, 2018 6:06 AM 21

    GENEVA, Switzerland (AFP) — Nestlé said Tuesday it has agreed to sell its US candy business to Italy's Ferrero for CHF 2.7 billion ($2.8 billion/2.3 billion euros) in cash as the Swiss food giant shakes up its product portfolio. Ferrero — known for its Tic Tac, Nutella and Ferrero Rocher brands, but which has traditionally preferred organic growth to acquisitions

  • Greek gov't goes to pot Greece set to allow medical cannabis use

    January 17, 2018 6:06 AM 21

    ATHENS, Greece (AFP) – Greece's parliament is expected to approve the medical use of cannabis in the coming weeks, a deputy minister said Sunday, adding that the change would attract investment to the country. “In a few weeks' time, an amendment will be brought to parliament to define the legislative framework for the cultivation and manufacturing of pharmaceutical

  • Elite seeks $141m from junior market

    January 17, 2018 4:42 AM 22

    Elite Diagnostics Limited is seeking $141 million of equity capital from an initial public offering that will open January 22. The medical diagnostics company intends to use the proceeds for working capital and to pay down its debt. Elites' long-term loans doubled last year to $114 million. The junior market IPO will offer 70.68 million shares at $2 each, 14.9 per cent of which

  • World food prices up 8.2% in 2017 — UN

    January 14, 2018 5:52 AM 22

    PARIS, France (AFP) – Global food prices rose by 8.2 per cent in 2017 compared to 2016, the UN's food agency said on Friday. The Food and Agriculture Organization said that its FAO Food Price Index averaged 174.6 points in 2017, the highest annual average since 2014. In December alone, however, the index – a measure of the monthly change in international

  • FLOW fixes landline after six months

    January 14, 2018 5:52 AM 21

    We live in Mandeville, and my husband's FLOW landline has not worked for the past six months. He has made numerous complaints to FLOW'S customer service to no avail. Please see what you can do to assist us, as he runs a skills training workshop and urgently needs the use of the phone. After contacting FLOW, we were told that the technicians were trying