Jamaica Observer http://www.jamaicaobserver.com/ JamaicaObserver.com, the most concise and in-depth website for news coverage on Jamaica and the Caribbean. Updated daily 7 days a week, 24 hours a day en-us copyright Jamaica Observer, 2011 ‘There can be only one’ http://www.jamaicaobserver.com/business/-There-can-be-only-one-_16477977 Marcus James says there can be only be one chief executive officer of Access Financial Services. Local Business Thu, 17 Apr 2014 02:00:00 GMT BMR allows for JPS stake in planned wind farm http://www.jamaicaobserver.com/business/BMR-allows-for-JPS-stake-in-planned-wind-farm_16478250 JAMAICA Public Service Company (JPS) has the option to buy a 20 per cent in US-owned Blue Mountain Renewables (BMR) US$90 million ($9.9 billion) wind farm in St Elizabeth. Local Business Thu, 17 Apr 2014 02:00:00 GMT Juici reopens Port Henderson outlet http://www.jamaicaobserver.com/business/Juici-reopens-Port-Henderson-outlet_16477813 JUICI Patties has reopened one of four Corporate Area outlets it closed last year after terminating a franchise agreement with the restaurants' operator. Local Business Thu, 17 Apr 2014 02:00:00 GMT Intel reports lower net income http://www.jamaicaobserver.com/business/Intel-reports-lower-net-income_16474628 NEW YORK, USA - Intel's earnings fell in the first three months of the year amid a continued slump in the worldwide PC market, but revenue grew slightly because of solid demand for tablet processors and its data center services. Financial Thu, 17 Apr 2014 02:00:00 GMT Kingston Properties gains from Miami locations, but profit dips on Jamaica loss http://www.jamaicaobserver.com/business/Kingston-Properties-gains-from-Miami-locations--but-profit-dips-on-Jamaica-loss_16479252 Kingston Properties (KP) benefited somewhat from rising rentals and the revaluation of its Miami, Florida condominiums, but its after-tax profit dipped 70 per cent year on year to $52 million. Local Business Thu, 17 Apr 2014 02:00:00 GMT Spanish promise big solar savings http://www.jamaicaobserver.com/business/Spanish-promise-big-solar-savings-_16478015 The Grand Palladium Resort and Spa in Hanover stands to save US$730,000 ($80 million) a year on energy following the installation of a rooftop solar photovoltaic system. Barcelona, Spain-based Sofos is installing the system for US$34 million. With that kind of annual savings, Palladium should realise a return on investment, not accounting from interest rates or internal rates of return, in less than five years, explained, David Pijuan Sofos business development manager. The Sofos Group has executed 250 solar PV installations worldwide, with more than 30 in the Caribbean, and now has offices in Puerto Rico, Dominican Republic, and the United States.Last year April, the company incorporated in Jamaica. Juan Mayoral, CEO of Sofos Groupsaid that his company is commited to maintaining ratio of employment between local residents and Spanish employees that favours Jamaicans. Currently, Sofos Jamaica employs a 70-30 ratio of Jamaicans to Europeans. Local Business Thu, 17 Apr 2014 02:00:00 GMT Yellen: Fed stimulus still needed for job market http://www.jamaicaobserver.com/business/Yellen--Fed-stimulus-still-needed-for-job-market_16477842 NEW YORK, USA - Federal Reserve Chair Janet Yellen yesterday said that the US job market still needs help from the Fed and that the central bank must remain intent on adjusting its policy to respond to unforeseen challenges. Financial Thu, 17 Apr 2014 02:00:00 GMT China’s growth slows to 7.4% http://www.jamaicaobserver.com/business/China-s-growth-slows-to-7-4-_16475555 BEIJING, China - CHINA'S economic growth slowed further in the latest quarter, but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without politically dangerous job losses. Financial Thu, 17 Apr 2014 02:00:00 GMT US factory output extended solid gains in March http://www.jamaicaobserver.com/business/US-factory-output-extended-solid-gains-in-March_16476813 WASHINGTON, USA Financial Thu, 17 Apr 2014 02:00:00 GMT Growth picks up across most of US http://www.jamaicaobserver.com/business/Growth-picks-up-across-most-of-US_16478272 WASHINGTON, USA Financial Thu, 17 Apr 2014 02:00:00 GMT US home building up in March http://www.jamaicaobserver.com/business/US-home-building-up-in-March_16476672 WASHINGTON, USA Financial Thu, 17 Apr 2014 02:00:00 GMT Court rejects bankruptcy protection for bitcoin exchange http://www.jamaicaobserver.com/business/Court-rejects-bankruptcy-protection-for-bitcoin-exchange_16476768 TOKYO, Japan Financial Thu, 17 Apr 2014 02:00:00 GMT JPS goes after $10-b annual return http://www.jamaicaobserver.com/business/JPS-goes-after--10-b-annual-return_16473818 JAMAICA Public Service Company (JPS) is hoping to clear US$94-million ($10.3 billion) profit a year should its proposed rate hike be approved. Local Business Wed, 16 Apr 2014 02:00:00 GMT Avoid charlatan accountants, says ICAJ http://www.jamaicaobserver.com/business/Avoid-charlatan-accountants--says-ICAJ_16472292 THE Institute of Chartered Accountants of Jamaica (ICAJ) warned businesses to avoid charlatan chartered accountants that offer cheaper but materially inferior service. Local Business Wed, 16 Apr 2014 02:00:00 GMT French to fill void for local chocolate http://www.jamaicaobserver.com/business/French-to-fill-void-for-local-chocolate_16458620 MEDIUM-SIZED coffee and cocoa farmer Averell French recently set up a chocolate manufacturing unit in Jamaica aimed at filling a void left by the stalled Highgate brand. Local Business Wed, 16 Apr 2014 02:00:00 GMT Devaluation, paper costs hit AMG Packaging http://www.jamaicaobserver.com/business/Devaluation--paper-costs-hit-AMG-Packaging_16469387 AMG Packaging Paper Company reported a 50 per cent decline in second quarter profits, the corrugated box manufacturer's bottom line dragged down by devaluation of the Jamaican dollar and rising paper costs. according to the firm. Local Business Wed, 16 Apr 2014 02:00:00 GMT Phone advances with 8.1 update http://www.jamaicaobserver.com/business/Phone-advances-with-8-1-update_16472699 NEW YORK, USA Financial Wed, 16 Apr 2014 02:00:00 GMT The computer: the new weapon of choice http://www.jamaicaobserver.com/business/weapon-of-choice_16473438 LAST week, news broke worldwide of a new computer virus discovered known as the "Heartbleed" computer bug, which allows hackers to manipulate the OpenSSL encryption software used by most websites, giving them access to stored data such as credit card information, passwords, and other personal details. Internet giants such as Google, Microsoft and LinkedIn went into an unsurprising panic, encouraging users to change their passwords. After all, it was not very long ago that social media website LinkedIn was hacked, compromising all users' passwords, many of which were cracked and posted online. Local Business Wed, 16 Apr 2014 02:00:00 GMT Stocks — A viable investment http://www.jamaicaobserver.com/business/Stocks---A-viable-investment_16472613 HISTORY has shown that owning stocks is one of the easiest and most profitable ways to grow your wealth over the long term. Investing in the stock market is often seen as very technical and analytical. This can be daunting for the beginner who has no experience in this area. Despite this, stock market investing, like any other skill, can be learned with enough background reading and research. Buying a stock is literally, owning a piece of a company. For first time investors, it is important to adopt a very simple strategy when investing. One example of this is to buy what you know; namely, companies that you are familiar with and understand. Local Business Wed, 16 Apr 2014 02:00:00 GMT GM sales eyed for impact of ignition switch recall http://www.jamaicaobserver.com/business/GM-sales-eyed-for-impact-of-ignition-switch-recall_16473753 MICHIGAN, USA - AS General Motors executives show off their newest cars and trucks in New York this week, analysts are watching for signs that consumers are shying away from the ones sitting on dealer lots. Financial Wed, 16 Apr 2014 02:00:00 GMT Yellen: Big banks might http://www.jamaicaobserver.com/business/Yellen--Big-banks-might-_16472893 WASHINGTON, USA Financial Wed, 16 Apr 2014 02:00:00 GMT Yahoo's 1Q highlighted by Alibaba, modest ad gains http://www.jamaicaobserver.com/business/Yahoo-s-1Q-highlighted-by-Alibaba--modest-ad-gains_16474030 SAN FRANCISCO, USA Financial Wed, 16 Apr 2014 02:00:00 GMT Finmeccanica shares down on CEO change http://www.jamaicaobserver.com/business/Finmeccanica-shares-down-on-CEO-change_16472354 MILAN, Italy (AP) — Investors signalled concern yesterday at a change of leadership at the scandal-plagued Finmeccanica defence contractor as part of sweeping management changes announced by Italian Premier Matteo Renzi at four strategic state-backed firms. Financial Wed, 16 Apr 2014 02:00:00 GMT Gov’t moves towards eliminating deferred payment with accrual accounting http://www.jamaicaobserver.com/business/Gov-t-moves-towards-eliminating-deferred-payment-with-accrual-accounting_16469437 GOVERNMENT will next year start the process of removing a key means for shaveing billions off the budget in its phased re-adoption of accrual accounting. Local Business Wed, 16 Apr 2014 02:00:00 GMT Paramount's profit falls http://www.jamaicaobserver.com/business/Paramount-s-profit-falls_16473539 PARAMOUNT Trading, posted a 60 per cent decline in profit as a result of a one-off gain on amalgamation of Stamina Trucking. Local Business Wed, 16 Apr 2014 02:00:00 GMT