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  • Colleges ask for a share of future salary in lieu of loans

    July 25, 2018 5:35 AM 8

    MONTPELIER, United States (AP) — As more students balk at the debt loads they face after graduation, some colleges are offering an alternative: We'll pay your tuition if you offer us a percentage of your future salary. Norwich University announced yesterday that it will become the latest school to offer this type of contract, known as an income share

  • Lasco Distributors pays down debt

    July 25, 2018 4:45 AM 20

    Lasco Distributors Limited paid down nearly half-billion dollars of the loans secured for its build-out project at Red Hills Road in Kingston in the quarter ending June. The $1.2-billion project will create an additional 100,000 square feet of storage space at the warehouse complex. The additional space facilitated the increased inventory under its deal to distribute

  • Playa expects to recoup part of Jamaican investment in under five years

    July 25, 2018 4:45 AM 13

    Playa Hotels & Resorts Limited expects to recoup its investment in the Jewel Grande and Hilton Rose Hall resort properties acquired under a deal with Sagicor Group Jamaica, in less than five years. The disclosure was limited to those two properties - both based in Montego Bay - and Playa is refusing to say why, citing market rules. "Unfortunately we are unable

  • Papa John's adopts 'poison pill' to block founder

    July 24, 2018 4:52 AM 6

    Papa John's is attempting to ward off its controversial founder from amassing a controlling stake in the company by adopting a 'poison pill' plan. The pizza company is struggling to distance itself from John Schnatter, who resigned as chairman this month after his use of a racial slur during a media training session was revealed. Schnatter has since

  • In the battle for Twenty-First Century Fox, Comcast blinks

    July 20, 2018 4:40 AM 6

    In a battle among media giants for control of Twenty-First Century Fox's entertainment business, Comcast has blinked. The cable and media company said on Thursday that it is dropping its bid, instead focusing on its pursuit of the European pay-TV operator Sky. Fox owns 39 per cent of Sky and has also been trying to buy the 61 per cent it doesn't own. Comcast

  • Canadian marijuana company files IPO in the US

    July 20, 2018 4:40 AM 7

    A Canadian company is the first marijuana business to complete an initial public offering (IPO) on a major United States stock exchange, raising US$153 million to expand its operations as Canada prepares to legalise the drug nationwide. British Columbia-based Tilray Inc's shares began trading on Thursday on the Nasdaq stock exchange. Initially priced

  • JUTC hopes to burn $3b fuel bill with LNG

    July 20, 2018 4:40 AM 9

    The LNG gas station to be developed by New Energy Fortress will have the capacity to fuel 25 buses daily, or five times the number of buses designated for the pilot programme to be conducted with the Jamaica Urban Transit Company, JUTC. New Fortress spokeswoman Verona Carter also said it's estimated that the five JUTC buses would require 720 gallons

  • Cornerstone makes $3b bid for Barita

    July 19, 2018 11:20 PM 12

    Cornerstone Investments Holdings Limited released its offer circular for a majority stake in Barita Investments Limited in a deal worth just over $3 billion offer at $9.20 per share. The offer at a 20-cent premium on Barita’s last trading price of $9 per share, values the investment company at $4.1 billion. Cornerstone, which is led by Paul Simpson

  • Cyprus sets new record in tourist arrivals

    July 18, 2018 5:46 AM 5

    NICOSIA, Cyprus (AFP) – More than 1.6 million tourists visited Cyprus in the six months to June, the largest number ever for the first half of the year, the island's statistics office said Tuesday. Tourist arrivals in January-June rose 12.4 per cent to 1.64 million from 1.46 million in the same period last year, according to the Cyprus Statistical Service

  • AMG flushes away $34 million with toilet paper disposal

    July 18, 2018 5:46 AM 5

    AMG Packaging and Paper Ltd booked losses of $34.3 million from the disposal of its toilet paper business for its third quarter ended May 31. The company, which is now in the business of manufacturing boxes, expects to increase future earnings now that it has stripped itself of producing toilet paper. Still, AMG Packaging and Paper may have to wait awhile