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Here's What's Hot on the business scene right now 🔥🔥🔥
NCB Stock Back Above $50
NCB back above 50 dollars? Yeah… that’s getting people’s attention.
After struggling for years and falling hard from its glory days above $200 dollars per share, NCB Financial Group is finally showing signs of life again, with the stock climbing back above the $50 mark.
The stock closed May 8 at $51.94. Now, for longtime investors, that might not sound like a big deal considering where it used to trade.
But it’s definitely better than the...
Jamaica’s revenues beat target
Good news
The Government said it collected more money in the last financial year than expected.
Jamaica’s financial year begins in April and ends in March.
The government collected almost $1.1 trillion between April 2025 and March 2026, which was roughly $8 billion over the target.
Tax revenue did most of the heavy lifting, coming in at $879.5 billion. That’s over $10 billion more than projected.
Non-tax revenue accounted for $194 billion of the island’s overall income.
NCB Profit Drops
Mixed bag
NCB Financial Group says its sharp decline in quarterly profits is due to a one off payment last year.
The group posted a net profit of $5 billion for the March quarter, down from $17 billion a year earlier. They explained that last year’s figure was boosted by a one-time gain from the sale of a Dutch insurance unit.
Without that, NCB says its core business actually improved, helped by stronger performance from its Jamaican operations, lower funding costs and tighter expense management.
The group also announced an interim dividend for shareholders.
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Massy Takes Billion Dollar Hit
Yikes
Massy Holdings is counting a major loss following the sale of its Jamaican distribution business.
The regional company booked a hit of more than $2 billion after selling Massy Distribution Jamaica to Acado Limited, a joint venture backed by Trinidad’s Agostini Limited and Barbados-based Goddard Enterprises.
The sale was first announced in February 2025, but took more than a year to close because of a lengthy regulatory review before it was finalised in March 2026.
Massy says the loss was not tied to poor performance by the Jamaican business. Instead, the company says foreign exchange translation losses piled up over time and were officially recognised once the transaction closed.
Caribbean Dreams IPO Still Alive
Maybe
Jamaican Teas says it has not shelved plans to list Caribbean Dreams Foods on the stock market.
Chairman John Jackson says the company is taking a cautious approach as it watches market conditions and looks for the right timing to maximise returns for shareholders.
Jamaican Teas transferred its manufacturing business to Caribbean Dreams Foods in 2024 as part of the plan to eventually list the subsidiary on the Jamaica Stock Exchange.
The company says the IPO remains on the table, even though the timeline is still uncertain.
Apple Faces AI Fallout
Big deal
Apple could pay out millions after settling a lawsuit tied to its AI marketing.
The tech giant agreed to a US$250 million settlement after customers accused the company of misleading them about new Siri AI features promoted with the iPhone 16 launch.
Eligible iPhone users in the United States could receive between US$25 and US$95 per device if the settlement gets court approval.
The case adds pressure on Apple as it races to catch up with rivals in the fast-moving AI space.
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