United States: Rebound in U.S. Retail Sales Slowed in July Amid Virus’s Surge “The rebound in U.S. retail sales slowed in July by more than expected, indicating a surge in coronavirus cases and still-high unemployment cooled the economic recovery. The value of retail purchases increased 1.2% from the prior month after an upwardly revised 8.4%
August 13, 2020 IronRock Insurance Company Limited (ROC), for the six months ended June 30, 2020 posted gross premium of $421.98 million relative $318.55 million; this represents a 32% increase year over year. For the second quarter gross premium rose by 23% to total $243.31 million compared to $197.77 million. Proportional reinsurance amounted to $309.91
August 13, 2020 For the nine months ended June 30, 2020, Honey Bun (1982) Limited reported revenues of $1.24 billion, 6% up from $1.17 billion reported a year ago. For the quarter, revenues dropped by 7% to $367.42 million (2019: $394.49 million). HONBUN noted, “The revenue decline was mainly due to many customers in
United States: U.S. Jobless Claims Below 1 Million for First Time in Pandemic “The number of Americans applying for unemployment benefits fell below 1 million for the first time since the pandemic began in March, suggesting the economic recovery is gaining some traction amid a deceleration in coronavirus infections. Initial jobless claims in regular state
August 12, 2020 Salada Foods Jamaica Limited (SALF), for the nine months ended June 30, 2020 recorded a 6% increase in turnover to close at $819.55 million (2019: $769.64 million). Management stated, “despite the pandemic, our exports and contract manufacturing business segments continue to perform well and are the growth drivers.” As for the
Sterling Investments Limited (SIL) for the six months ended June 30, 2020 reported interest income of $57.70 million, a 25% increase compared to $46.10 million booked twelve months earlier. Interest income for the quarter closed at $30 million compared to $24.27 million reported for the same quarter of 2019. Foreign exchange gain amounted to $64.29 million,
August 12, 2020 Jamaica Producers Group Limited (JP), for the six months ended June 30, 2020, experienced a 6% decrease in revenue to total $9.52 billion compared to the $10.16 billion reported in 2019. The company posted second quarter revenue of $4.36 billion, a 19% decrease on 2019’s $5.37 billion. The revenue for the Food
United States: Americans Rush to Be Their Own Bosses as Covid Hits Job Market "Whether out of necessity or a fondness for working in one’s pajama bottoms, Americans are filing paperwork to become their own bosses at a clip one economist calls “off the charts.” The number of people applying for Employer Identification Numbers, which
United States: U.S. Recovery Sees Some Momentum After Monthlong Stall “The latest high-frequency data suggest America’s economic recovery may finally be getting moving again after stalling for a month. Bloomberg Economics created a weekly dashboard of high-frequency, alternative and market-based data to track the economy’s plunge into recession and eventual recovery. New Covid-19 cases have
Jamaica Stock Exchange Limited (JSE), for the first six months ended June 30, 2020 recorded total revenue of $886.85 million, a 1% increase when compared to the $874.52 million booked the prior year’s corresponding period. For the second quarter the company reported a 12% decrease in total revenue to close the quarter at $378.26 million
