September 23, 2013
Blackberry agrees preliminary deal to be sold to Fairfax
Struggling smartphone maker Blackberry has agreed in principle to be bought by a consortium led by Fairfax Financial for $4.7bn (£3bn). Blackberry said in statement that Fairfax, its largest shareholder, had offered $9 a share in cash to buy the…
September 23, 2013
Apple sells 9 million of its new iPhone models
The company said that sales of the iPhone 5S and 5C had beaten previous launches of new phones. Apple said demand for the 5S had outstripped supply and Apple shares rose almost 6% on the news before falling back to trade 4% higher. The 5S has a…
September 23, 2013
UK Prime Minister says’TURKS AND CAICOS ISLANDS IS NOT A TAX HAVEN’
The Turks and Caicos Islands is one among several of the Overseas Territories rejoicing at the declaration made by UK Prime Minister, David Cameron. During the recent sitting of the House of Commons, Minister Cameron strongly defended the Overseas…
September 23, 2013
Scotia Celebrates small Business Week
Scotiabank (Turks and Caicos Islands) Limited will be celebrating Small Business Week. The Branches will be focusing on entrepreneurs with a series of activities which include a branch open house with complimentary resources for small businesses,…
September 21, 2013
Blackberry to cut 4,500 jobs amid earnings plunge
Blackberry has announced it is planning to cut 4,500 jobs, or 40% of its worldwide workforce, in an attempt to staunch huge losses. The smartphone maker said it anticipated a loss of as much as $995m (£621m) when it reports its second-quarter…
September 21, 2013
Obama proposes carbon limits on new US power plants
US President Barack Obama has unveiled a proposal to limit carbon emissions on new power plants built in the US. It would be the first federal attempt to impose limits on the pollution blamed for global warming. "Climate change - caused by…
September 21, 2013
JP Morgan makes $920m London Whale payout to regulators
US bank JP Morgan Chase has agreed to pay four regulators $920m (£572m) relating to a $6.2bn loss incurred as a result of the "London Whale" trades. The settlement is the third biggest banking fine by US regulators, and the second largest by UK…
September 21, 2013
Deadline to legalize foreign workers looms; hoteliers complain of red tape
The Hotels and Tourism Association (Asonahores) on Thursday complained that laborers, severance pay, the legal status of seasonal workers and immigration difficulties faced by its mid level and senior executives are its main challenges, a statement…
September 21, 2013
US lawmakers vote to cut food stamp benefits from 2014
US lawmakers have narrowly voted to cut food stamp benefits from next year despite a veto threat from the White House and opposition by lobby groups. The Republican-led House of Representatives passed the bill by 217-200. But it has little chance…
September 16, 2013
Larry Summers pulls out of US Federal Reserve race
Former US Treasury Secretary Larry Summers has withdrawn his candidacy to succeed Ben Bernanke as head of the US central bank, the Federal Reserve. In a letter to President Barack Obama, quoted by the Wall Street Journal, Mr Summers said any…