Serious Foods in administration group.
Jamaica Producers Group (JP) has placed the United Kingdom subsidiary that accounts for more than 70 per cent of its sales into administration - a sort of bankruptcy protection - but says that it wants to sell Serious Foods as a going concern. With its impending full exit...

Guardian Life suffers loss from sugar job cuts
Guardian Life, the second-largest life insurance outfit in Jamaica, has lost out on a scheme that covered thousands of sugar workers and is bracing for a dramatic fall-off in group life business. At the same time, president Earl Moore says the unending job cuts throughout ...

Shaw promises curtailment of forex market
Finance Minister Audley Shaw says too many interests are chasing after foreign currency, and has warned that public bodies who compete for the dollar and then hoard it will be reined in. Shaw on Wednesday, having linked the high demand for US dollars to the increasing price...

Rohan Barnett takes a hot seat - New FSC head to lead cautious change
Rohan Barnett, the Kingstonian turned New York-based commercial lawyer, had a longing to come home, but he has parachuted into a job that has become a hotbed based not only on unfolding global financial events, but also drawn-out domestic regulatory issues...

Guardian Holdings to buy back shares
Trinidad's insurance and property conglomerate Guardian Holdings Limited (GHL) has made an offer to buy back as much as four per cent or 8.2 million of its issued ordinary shares, a move the company said should boost shareholder value. Four per cent is the limit allowed...

I'm still making money, says Soros
Times are tough, but George Soros is making money. The billionaire, financier and philanthropist said on Wednesday that while the collapse of the international banking system took him - and scores more - by surprise, he had a feeling trouble was brewing...

Ciboney hotel sale funds freed from escrow
The Finsac-controlled Ciboney Group Limited has drawn down the US$272,000 that was held in escrow since the sale of the hotel property was finalised in December 2005 with Rios Hotel Management. The hangover funds - US$250,000, which has grown interest...

JMMB doubles nine-month profit to $1.8b - Scaling down insurance business
Jamaica Money Market Brokers (JMMB) more than doubled its nine-month profit to $1.8 billion but came out ahead of last year only because it sold off a portion of its holdings. Had it not been for the $2.3 billion gain booked from the sale of its 45 per...

MOVEMENTS
Ram new JMMB director - Ramsunderama Ramesh, has taken a seat on the Jamaica Money Market Brokers Limited, effective January 20. Ramesh is deputy chairman of a former JMMB partner company, Caribbean Money Market Brokers ...