Jamaica Gleaner News- Business - Wednesday

Another transition at LIME - Phil Green hangs up on Jamaica, Houston to take control

Even in the midst of its transformation, not everything has changed at the newly branded LIME Jamaica.The telecommunications company is about to switch bosses again, maintaining its high attrition rate for chief executive officers...

BOJ wields interest-rate shield - Jamaican dollar falls 10 per cent year to date

The Bank of Jamaica, in a pre-emptive move to mop up the cash it expects to flood the market at Christmas, has increased the interest rates on its certificates of deposit - its tool for signalling direction on rates. The move comes against continued depreciation...

Set back for Claro cell tower project

Claro Jamaica has set back its timetable for completing its network of 610 cell towers, from December to the fist quarter of 2009, but says disgruntled subcontractors were not the cause of the delay."We have 70 per cent coverage by population now," said...

Broilers stumbles in second quarter

Forced to pay higher prices for grain and hit by falling ethanol prices, Jamaica's top poultry producer, the Jamaica Broilers Group, stumbled badly in its second quarter into a loss of just under $150 million off revenues of $6.8 billion....

JP cutting 200 jobs in Britain

Jamaica Producers Group (JP), seeking to stanch its big loses of the past two years and win back investor confidence, says it will cut 200 jobs or 40 per cent of the workforce, of its UK juice manufacturing subsidiary, Serious Foods...

CariCRIS maintains ratings on all clients - Says Jamaica to be worst hit by credit crisis

CariCRIS says it will maintain credit ratings on all countries and organisation, following a review of their exposure to the global economic meltdown.No country within the Caribbean will be immune from impact, or escape contagion...

AA cuts back flights

American Airlines is to cut back on its scheduled service to Grenada just weeks after the reintroduction of the service to the island following a 10-year break, tourism officials have said.The resumption of service was secured by a US$1.5 million...

British Airways now courting Qantas

British Airways (BA) PLC said Tuesday it was in talks with Australia's Qantas Airways Limited about a potential merger, sending its shares soaring as it confirmed expectations of consolidation in the hard-hit aviation industry....

GM asks for US$12b, Ford says it can go it alone - Auto sales fall in November

General Motors Corp said Tuesday it needs US$12 billion in government loans to keep operating, telling Congress in a bluntly worded report that its collapse could have "severe, long-term consequences to the United States (US) economy...