United States: Biden’s Solar Plans Run Into a Chinese Wall “A new and unexpected obstacle to President Joe Biden’s green ambitions has emerged: a tiny solar-power company based in San Jose. Auxin Solar Inc., which accounts for all of 2% of U.S. solar-module manufacturing, recently persuaded the Commerce Department to open a potentially devastating trade
April 22, 2022 The Statistical Institute of Jamaica (STATIN) reported that the unemployment rate for January 2022 was 6.2 per cent compared to 8.8 per cent for the same quarter of 2021, the lowest unemployment rate in Jamaica's history. In January 2020, before the coronavirus (COVID-19) pandemic, the unemployment rate was 7.3 per cent, there
April 21, 2022 Supreme Ventures Limited (SVL), for the three months period, reported a 19% increase in Total Gaming Revenue from $10.71 billion in 2021 to $12.72 billion in 2022. Revenues from the SVL’s segments were as follows: Revenue from Non fixed odd wagering games, horse racing and pin codes $7.22 billion (2021: $6.69
April 21, 2022 Governments lessened the economic pain of the pandemic by providing plenty of liquidity to stricken consumers and businesses through credit guarantees, concessional lending, and moratoriums on interest payments. Though these policies proved effective in supporting balance sheets, they also led to a spike in private debt, extending a steady increase in leverage
United States: Fed Risks Shattering Pro-Jobs Policy by Taking Hammer to Prices “Jerome Powell wants to quell inflation without sinking the labor market. Success or failure will be a defining part of the Federal Reserve chair’s legacy and the pro-employment policy he’s championed.” https://www.bloomberg.com/news/articles/2022-04-21/fed-risks-shattering-pro-jobs-policy-by-taking-hammer-to-prices?srnd=economics-vp Europe: European Inflation Wagers Are on the Cusp of Eclipsing U.S.
April 20, 2022 Global shipping costs are starting to trend downwards, nonetheless, prices remain elevated considerably above pre-pandemic levels. Notably, there is an approximate 50% reduction being experienced by Caribbean importers. According to Richard Pandohie, former President of the Jamaica Manufacturers & Exporters Association, the cost for shipping a 40ft container now ranges between US$10,000
April 19, 2022 Margaritaville Turks Limited (MTL), for the nine months ended February 28, 2022, reported revenues of US$975,061 versus US$46,606 reported in the prior corresponding period, an increase of US$928,455. For the third quarter, revenues increased to US$974,015 (2021: US$6,155). Management stated, “Revenue earned for the Quarter was USD$974,015 or an average spend frate of
United States: U.S. Housing Starts Unexpectedly Rise to Fastest Pace Since 2006 “New U.S. home construction rose unexpectedly in March to the highest level since 2006, boosted by multifamily projects as builders seek to replenish housing inventory. Residential starts climbed 0.3% last month to a 1.79 million annualized rate from an upwardly revised February figure,
April 19, 2022 Paramount Trading (Jamaica) Limited recorded a 22% increase in total revenues to $1.23 billion from $1.02 billion reported in 2021. For the quarter, revenues rose 34% to close at $463.96 million (2021: $347.24 million). PTL stated that, “The reduction in curfew hours, elimination of ‘no movement days’ and the re-opening of schools
April 14, 2022 AMG Packaging Paper Company Limited (AMG) for the six months ended February 28, 2022 recorded turnover in the amount of $486.81 million, 44% more when compared to $338.40 million the previous year. Turnover for the quarter rose 32% to total $216.81 million relative to $164.54 million the prior year’s quarter. Cost of
