September 29, 2020 SSL Venture Capital Jamaica Limited (SSLVC), for the year ended June 30, 2020, reported revenues of $116.76 million versus $332.27 million reported in the prior year’s corresponding period. Cost of sales amounted to $105.12 million (2019: $275.87 million), thus resulting in gross profit of $11.64 million relative to $56.40 million booked last year. Gross
United States: Trump’s Jobs Record Fell Short of Promises Even Before the Virus “Four years later, Trump heads into the November election on track to be the first U.S. leader since World War II to oversee a net loss of jobs during a four-year term. The pandemic upended the nation’s record-long expansion and triggered the
September 28, 2020 Ian Kelly, Group Chief Financial Officer & Divisional Director – Sampars of Derrimon Trading Limited, commented on the financial performance of the business. Revenue moved from $9.30 billion to $12.65 billion in 2019, a 36% increase, mainly driven by the distribution business. Net profit amounted to $302.71 million, a 9% growth when compared
September 28, 2020 Following its application to the Financial Services Commission (“FSC”) in June 2020, NCB Financial Group Limited’s (“NCBFG") wholly owned subsidiary in Jamaica, NCB Insurance Company Limited (“NCBIC”) has received approval that will enable NCBFG to streamline the insurance business currently offered by its subsidiaries, NCBIC and Guardian Life Limited (“GLL”). This approval
United States: Fastest-Growing U.S. Job Failed to Lift Pay for Black Women “A job in home-based health care, America’s quickest-growing industry, felt like a step up the ladder for Shawanna Ferguson when she left her fast-food job a decade ago. But in terms of pay and security, it didn’t turn out to be much of
September 25, 2020 The UK government has constructed its Winter Economy Plan to support workers and businesses affected by the COVID-19 crisis. The Winter Economy Plan outlines the measures to support citizens and businesses as the country recovers from the economic aftermath of the pandemic and drive growth across the UK. Further support for employment
United States: Stock Futures Mixed Amid Cloudy Stimulus Outlook: Markets Wrap “Stock futures were mixed amid an uncertain outlook for a new stimulus package. The dollar rose. S&P 500 contracts fell, with the benchmark gauge on track for its fourth straight weekly decline -- the longest losing streak since August 2019. Big technology companies pushed
September 24, 2020 Retail sales volumes increased by 0.8% in August 2020, when compared with July. This was the fourth consecutive month of growth, resulting in an increase of 4.0% when compared with February’s pre-pandemic level. Retail sales values also increased 0.7% when compared with July and 2.5% when compared with February. Despite total
September 24, 2020 The seasonally adjusted initial claims, advance estimate, increased by 4,000 to 870,000 for the week ending September 19 from the prior week's revised level, according to the U.S. Department of Labour (DOL). The prior week's level was revised from 860,000 to 866,000 up by 6,000. In comparison to the previous week’s average, the 4-week moving average
September 22, 2020 Jamaica Producers Group Limited (‘JP’) announces that it has entered into an agreement to sell its 22.1 percent interest in SAJE Logistics Infrastructure Limited (‘SAJE’). SAJE is engaged in property ownership and property management and the holding of investments, and prior to the sale was accounted for as an associated company of
