January 19, 2012
‘No shutdown’ – LIME says environment tough but it’s not leaving
LIME Jamaica yesterday strongly denied a news report that British parent company Cable & Wireless (C&W) plc has decided it will shut down its local operation in light of a ‘difficult’ regulatory environment. “I categorically deny that,” LIME…
January 19, 2012
Grenada hosts UK-Caribbean Forum
Dozens of journalists from regional and international media are expected in Grenada this weekend for an important trade and business meeting involving representatives from the United Kingdom and the Caribbean Community (CARICOM). The journalists…
January 19, 2012
World-renowned Caribbean rum brand celebrates 150th anniversary in 2012
Bacardi Limited, the world’s largest privately-owned spirits company, has declared that 2012 will be its most innovative year since the creation of Bacardi rum in 1862. Throughout the year, Bacardi will host one-of-a-kind birthday parties, launch…
January 19, 2012
Largest Caribbean refinery in USVI to close
The Caribbean’s largest oil refinery in St Croix, US Virgin Islands, is to close down by mid-February because of reduced fuel demand and increased international competition. The Hovensa refinery is a joint venture between the Hess Corporation and…
January 19, 2012
Montserrat police conducting internal investigation into misconduct allegations
The Royal Montserrat Police Service has been conducting an extensive internal investigation into allegations of police misconduct during and following the arrests of George Leonard and George Farrell on the morning of 17 December 2011. As a…
January 19, 2012
Eastman Kodak files for bankruptcy protection
Eastman Kodak, the company that invented the hand-held camera, has filed for bankruptcy protection. The move gives the company time to reorganise itself without facing its creditors, and Kodak said that it would mean business as normal for…
January 19, 2012
Sony Ericsson reports fourth quarter loss
Mobile phone company Sony Ericsson has reported a fourth quarter loss, citing tough competition and the global economic slowdown for the deficit. The firm - which is soon to be fully taken over by Sony - posted a net loss of 207m euros ($267m;…
January 19, 2012
Goldman Sachs cuts pay and bonuses as profits halve
US banking giant Goldman Sachs has cut its pay and bonus payments during 2011 - to $12.2bn (£7.4bn). It said its total compensation - including staff bonuses - was down 21% from 2010. The bank also said that its quarterly profits had more than…
January 19, 2012
IMF seeking $500bn funding boost
The International Monetary Fund (IMF) has said it will seek to increase its resources by $500bn (£325bn) to help stabilise the global economy. The extra money could be used to help countries in the eurozone struggling to pay their debts. But the…
January 19, 2012
Pakistan PM Gilani stands firm in contempt battle
Pakistani Prime Minister Yousuf Raza Gilani has appeared before the country's Supreme Court in contempt proceedings, to defend his record. The court initiated the hearing over Mr Gilani's refusal to ask Swiss officials to reopen a corruption case…