May 19, 2023 United States: US Economy Headed for Downturn in Second Half of 2023, Forecasters Say Forecasters see the US economy continuing to cool in the current quarter before a further slowdown in consumer spending and pullback in business investment cause the economy to shrink in the second half of the year. Gross domestic
May 18, 2023 United States: Fed Poised for Big Upgrade to Outlook Despite Swirling Risks Federal Reserve officials are likely to deliver their biggest upward revision to the US economic outlook since 2021 next month, as stress in the banking sector and a looming debt default belie the underlying strength of the economy. That’s likely
May 17, 2023 Jamaica Stock Exchange Limited (JSE) for the three months ended March 31, 2023: Total revenue declined 4% to $540.04 million (2022: $561.71 million) following a 44% decline in cess income to $72.31 million (2022: $129.70 million). Notably, fee income increased 9% to $408.32 million (2022: $372.99 million). Total expenses increased 16%
May 17, 2023 Stanley Motta Limited (SML) for the three months ended March 31, 2023: Revenue marginally increased to $127.04 million (2022: $126.79 million). Management noted that the increase can be attributed to the stability in the USD/JMD rate over the quarter since the Company’s rental income is earned in USD. Additionally, it was
May 17, 2023 United States: US Housing Starts Rise in Sign Home Construction Is Stabilizing US housing starts increased in April, adding to evidence that residential real estate is gradually recovering after a yearlong slump. Beginning home construction rose 2.2% to a 1.4 million annualized rate, according to government data released Wednesday. Single-family homebuilding increased
May 16, 2023 FirstRock Real Estate Investments Limited (FIRSTROCK) for the three months ended March 31, 2023: Net operating income declined 68% to US$1.20 million (2022: US$3.78 million) following a 75% decline in property income to US$955,635 (2022: US$3.82 million). The contraction was due to the reported US$869,179 in realised and unrealised gain/(loss) on
May 16, 2023 Dolphin Cove Limited (DCOVE) for the three months ended March 31, 2023: Total revenue increased 89% to US$4.85 million (2022: US$2.56 million). Of this: Dolphin attraction revenue increased 100% to US$2.63 million (2022: US$1.32 million) Ancillary services revenue increased 78% to US$2.22 million (2022: US$1.25 million). Total direct costs increased 100% to
May 16, 2023 Caribbean Flavours and Fragrances Limited (CFF) for the three months ended March 31, 2023: Revenue increased 22% to $212.83 million (2022: $174.16 million). Management noted that growth in exports from the Company continued during the review period, primarily in the Eastern Caribbean. Gross profit increased 21% to $68.60 million (2022: $56.83
May 16, 2023 Cargo Handlers Limited (CHL) for the six months ended March 31, 2023: Revenue increased 27% to $287.94 million (2022: $227.07 million). For the quarter, revenue increased 40% to $153.60 million (2022: $110.08 million). CHL's gross profit rose 26% to $285.36 million, up from $227.07 million recorded in 2022. For the quarter,
May 16, 2023 United States: US Retail Sales Increase in Sign of Steady Consumer Spending US retail sales increased in April, suggesting consumer spending is holding up in the face of economic headwinds including inflation and high borrowing costs. The value of retail purchases rose 0.4% after an upwardly revised 0.7% decrease in March, Commerce
