(Reuters) - Sprint Corp (S.N) has proposed a merger with Charter Communications Inc (CHTR.O) as the wireless carrier seeks an alternative to a deal with T-Mobile US Inc (TMUS.O) that has so far not come to fruition, according to sources familiar with the matter.
Japan's SoftBank Group Corp (9984.T), which controls Sprint, proposed a complex transaction that would create a new company and be controlled by SoftBank, the sources said, asking not to be named because the talks are private. The Wall Street Journal first reported the discussions on Friday.
There is no guarantee Charter would be interested in a tie-up with Sprint, the sources said. Bloomberg reported Friday Charter had rebuffed Sprint's merger proposal.
Charter's market capitalization, at $94.6 billion, is much larger than Sprint, which closed trading valued at $32.8 billion on Friday. Verizon Communications Inc (VZ.N) also expressed interest in a takeover of Charter earlier this year, sources have said.
(Jamaica Gleaner) J. Wray and Nephew Limited is appealing to the Government to support its $1-billion makeover of the world-famous Appleton Rum Tour by re-establishing the old rail service and putting in a proper road from Montego Bay, St James, to its Siloah location in St Elizabeth.
"Critical to bringing people to this setting is the railway, this is our preferred form of mass transit," said chairman of the company, Clement 'Jimmy' Lawrence. "Having a railway brings an experience by itself. The rail lines, which has not been operational since the 1900s, travels between the estate and the dock from where passengers from the cruise ship arrives."
He continued, "The train would halve the travel time from the over three-hour bus ride and allow visitors to start the rum experience, while travelling to their destination. In the interim, however, it will be necessary for Government to improve the road conditions from Montego Bay to Appleton to make the journey more pleasant, ensuring that the tourist arrives unshaken."
The Appleton Rum Tour, which offered visitors an opportunity to get a first-hand view of sugar and rum production, is currently on hold to facilitate the rehabilitation work, which involves the upgrading of the existing facility and its expansion by another 25,000 square feet. On completion, the main building will include a welcome centre with a theatre, luxury bar, five-star restaurant and other amenities, which visitors can use before touring the estate's distillery and its rum-ageing warehouses.
(Dominica News Online) Come January 1, 2018, Dominicans earning less than $30,000 a year will not be paying income tax as the government moves to increase the minimum income tax threshold from $25,000 per year to $30,000.
Speaking during the presentation of the 2017/2018 Budget at the First Meeting of the Third Session of the Ninth Parliament on Thursday, Prime Minister, Roosevelt Skerrit said the government will be directing a National Fiscal Policy Panel to consider and advise on the abolition of the 15 percent and 25 percent income tax bands in the next fiscal year.
He proposed the formation of the National Fiscal Policy Panel (NFPP) to be made up of three independent experts with outstanding international reputations to provide the Government, Parliament and the nation with independent economic advice on matters relating to tax and spending policy during this transformation. Part of its job will be to advise the Government on economic and fiscal policies.
According to Skerrit to achieve the bold vision enunciated in the presentation, the country must have a tax system that incentivizes employment over consumption and income over idle assets.
MEXICO CITY, Mexico (AFP) — Britain's trade minister Liam Fox met with Mexican counterparts Thursday to lay the foundations for a post-Brexit trade deal, part of a global diplomatic offensive to smooth its departure from the European Union.
Fox announced Britain had launched an informal working group with Latin America's second-largest economy seeking to "ensure all the preferential arrangements that the UK currently enjoys with Mexico remain in place."
Britain is walking a delicate line as Brexit talks inch forward in Brussels.
It will be ousted from all EU trade deals when it leaves the bloc -- scheduled for March 2019.
But EU rules prohibit it from negotiating new deals until then.
In the meantime, top British cabinet ministers are engaged in a flurry of international diplomacy, seeking to set up new trade agreements with key partners without actually sealing any deals.
Fox's Mexico trip comes on the heels of a visit to the United States, where President Donald Trump this week hailed the prospect of a "very big" trade deal with Britain.
Foreign Minister Boris Johnson was meanwhile on a tour of the Asia-Pacific region, visiting Australia and New Zealand after a trip last week to Japan.
Fox insisted Brexit would make Britain more open to trade, not less.
"For the first time in more than four decades, the United Kingdom will enjoy a fully independent trade policy, free to build closer ties around the world with partners old and new," he told a breakfast meeting of business leaders in Mexico City.
"Any who are tempted to see our exit from the European Union as evidence of Britain looking inwards should think again. We have chosen a different path, to embrace the wider horizons of a truly global Britain in a truly global economy."
He said he and Mexican Economy Minister Ildefonso Guajardo, who held talks over dinner Wednesday, agreed on the need to champion free trade and "reverse a rising tide of protectionism."
Mexico is also keen to explore new trade relationships as talks loom on overhauling the North American Free Trade Agreement (NAFTA) with the United States and Canada, a major driver of its economy for the past two decades.
Trump vows to tear up NAFTA -- which he says has shipped US jobs south of the border -- if the US does not get a better deal at the talks, which open on August 16.
Mexico's economy, which is second only to Brazil's in Latin America, relies heavily on its preferential access to the United States, the customer for 80 per cent of its exports.
The Caribbean Development Bank (CDB) is providing grant funding of EUR219,000 or about J$2.86 million to the Jamaican government to upgrade the existing flood monitoring system on the Rio Cobre in St. Catherine.
The Bank, in a release out of Barbados, noted that the road through the Bog Walk Gorge in Jamaica is a major thoroughfare for vehicles travelling between the north and south coasts of the island.
However, at times it is rendered impassable due to heavy rainfall and flash flooding, and this puts persons in surrounding communities at risk.
An automatic flood early warning system was previously installed on the Rio Cobre River, which is interlinked by the Bog Walk Gorge, but it has been rendered inoperable due to lightning strikes that disabled the transmitters, the CDB said.
The Bank said funding is being provided through the African Caribbean Pacific-European Union-Caribbean Development Bank Natural Disaster Risk Management (ACP-EU-CDB NDRM) in CARIFORUM Countries Programme.
The CDB also noted that the Rio Cobre is the third largest watershed management unit in Jamaica, and includes large sections of Spanish Town and the fast growing municipality of Portmore.
“Flooding of the Rio Cobre puts a number of communities at risk and this project will help to support the delivery of accurate and early notifications to residents and key stakeholder groups such as motorists, the police, fire brigade and emergency response personnel,” said Cheryl Dixon, Coordinator, Environmental Sustainability Unit, CDB.
“We expect that this project will help to reduce the loss of life and reduce damage caused by flooding. The upgraded system will also take advantage of solar renewable energy to enable continued data and information during extreme weather events,” she added.
The project is scheduled to be completed over a 12-month period.