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Trump’s Tax Bill Impacts the Caribbean!
​If you don’t already have a US Visa, Donald Trump just made it harder for you to get one.
So, the United States just passed Trump’s “One Big Beautiful Bill” budget. This is the same bill that caused Donald Trump and Elon Musk to fall out. Remember, Elon said it was a disgusting abomination and Trump said Elon was just mad because the bill cuts EV spending.
Well, the bill passed both the House and Senate and was signed into effect on July 4.
It’s a massive bill, literally. It’s almost 900 pages long. Among other things, the law makes some previous Trump era tax cuts permanent and makes cuts to the US healthcare programmes.
But it also includes major changes that will directly impact us, here in the Caribbean.
For starters, it adds an additional...
Brokers adjust Tropical Battery APO recommendation
Take it back
NCB Capital Markets and Sagicor Investments have both adjusted their recommendation for Tropical Battery’s secondary offer.
Tropical was trying to raise almost J$2 billion to pay down some of its debts and improve profitability.
The offer was originally scheduled to close on June 6, but was extended twice to July 4.
Tropical restated their Q1 results citing accounting errors. The restated financials saw the company’s net profit of J$35 million changing to a net loss of J$96 million.
NCB Cap said it would initiate refunds for its customers unless otherwise instructed. Meanwhile, Sagicor changed its recommendation from Participate to Market Weight. According to Investopedia, Market Weight is similar to a “hold” rating, while “overweight” is equivalent to “buy” and “underweight” is typically a recommendation to “sell”.
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LIAT resumes flights from Kingston to Mobay
Finally
Flights between Kingston and Montego Bay are set to return on July 11. According to Sangster International Airport, regional airline LIAT will use the airport as its base and operate three flights weekly.
Travel by road from Kingston to Montego Bay can take up to four hours. However, officials say the LIAT flight is expected to take just 25 minutes.
They explained that the move will improve convenience for business and leisure travellers. Flights start at US$122, including taxes.
Gov’t gets thumbs up for JPS renegotiation
Big Deal!
Several business organisations have welcomed the government’s announcement that it plans to end its existing licence with JPS once it expires in 2027.
Energy Minister Daryl Vaz revealed last week that the Government will not renew JPS’s all-island licence under the current terms.
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He said the government will be renegotiating terms to help bring electricity costs down. The Jamaica Chamber of Commerce, the Jamaica Manufacturers and Exporters Association, and the Private Sector Organisation of Jamaica have all welcomed the move.
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They note that high electricity costs have been one of the greatest barriers in manufacturing for decades.
Shein slapped with 40 million euro fine
Not nice!
France has hit fast-fashion giant Shein with a 40 million euro fine. The fine comes after a year-long investigation that found the online retailer guilty of deceptive commercial practices.
French officials said Shein misled its customers on price reductions.
The investigation looked at products listed on sale on Shein's French website from October 2022 to August 2023. It found that 57% of those sale products had no price reduction, 19 percent had a slight discount, while 11% actually had a price increase.
Shein has accepted the fine.
Watch Taking Stock
​Catch What's Hot every week in Taking Stock with Kalilah Reynolds! New episodes live every Tuesday at 8pm on YouTube and your favourite podcast platforms.
đź’°Let's get this money!
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