January 7, 2015
CIBC FirstCaribbean reports $95-million loss
LOAN loss impairments led CIBC FirstCaribbean Bank Jamaica Ltd to record a $95-million net loss for its year ending October 2014, according to just released data. However, it comes within the context of wider losses from the bank's regional……
January 7, 2015
Brent Crude oil price dips below $50 a barrel
The price of Brent crude oil has fallen below $50 a barrel for the first time since May 2009. It fell more than a dollar to $49.92 a barrel in early trading on Wednesday before edging back above the $50 mark. Slowing global growth and increased…
January 5, 2015
Euro touches a nine-year low against US dollar
The euro slid to a nine-year low against the dollar as investors predicted the European Central Bank (ECB) may act to stimulate the economy. The euro fell by 1.2% against the dollar to $1.1864, marking its weakest level since March 2006, before…
January 5, 2015
Venezuelan leader Maduro seeks economic help on tour
Venezuelan President Nicolas Maduro is beginning an international tour to try to stem the impact of falling oil prices and a deepening recession. Mr Maduro goes first to China - a major source of loans for Venezuela - for talks with the Chinese…
January 5, 2015
German inflation falls to five-year low
Inflation in Germany fell to its lowest level in more than five years in December, official figures have shown. Germany's federal statistics office Destatis, said the annual rate of inflation fell to 0.2% in December from 0.6% a month earlier. That…
December 31, 2014
Venezuela recession confirmed as Maduro attacks US ‘oil war’
The Venezuelan economy is now officially in recession after the central bank released figures showing that it has been shrinking all year. The bank said the economy had declined by 2.3% in the third quarter of 2014. It also revealed for the first…
December 30, 2014
Travel firms sue creator of cheap airfare site
United Airlines and travel firm Orbitz have launched legal action against a site that seeks out cheap "hidden city" airfares. The site finds cheap fares by looking for flights that have a stopover at the city someone wants to travel to. The two…
December 23, 2014
Digicel/Claro merger in order, court rules
The Court of Appeal has ruled that the merger of telecoms providers Digicel and Claro was in keeping with provisions of the Telecommunications Act and does not fall within the Fair Competition Act (FCA). The Fair Trading Commission (FTC) had, in…
December 17, 2014
Fed Pledges ‘Patience’ Before Raising Interest Rates
Top officials of the U.S. central bank (Federal Reserve ) say they will keep their key interest rate at its current ultra-low level and be "patient" in assessing economic data before they raise rates. Interest rates were cut to nearly zero during…
December 16, 2014
Brent oil price falls below $59 a barrel
The price of Brent crude oil has fallen below $59 a barrel for the first time since May 2009. After dropping below $60, the Brent price then fell to $58.50 a barrel, before recovering slightly to $59.01. Oil prices have now nearly halved since June…