NEW YORK — Careful to blame only himself, a "deeply sorry and ashamed" Bernard Madoff pleaded guilty Thursday to pulling off what could be the biggest, most spectacular swindle Wall Street has even seen, and was sent off to jail in handcuffs to the applause of his furious victims.

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Used-car imports have collapsed under pressure from the global recession, striking a major blow to the industry which suffered a more than tenfold decline in year-over-year monthly stock imports in January, its biggest tumble ever.

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The world's youngest tycoons may have sprouted a few gray hairs over the last year.

Amid the global recession, the Forbes list of the World's Billionaires is smaller--and poorer--this year. As a result, the tiny club of billionaires age 40 and younger just got a whole lot smaller too.

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Stocks soared to their biggest one-day gains since mid-November after Citigroup (C, news, msgs), the troubled banking giant, disclosed that it was enjoying its best quarterly performance since 2007.

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MIAMI, USA (Reuters): The Allen Stanford fraud case is another black eye for the image of the Caribbean offshore finance sector, which must improve oversight and regulation to stay competitive in tough times, a regional trade expert said.

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Many would remember that Red Stripe also came under fire from many dancehall fans earlier this year for its decision to stop sponsoring all reggae/dancehall ... Continue Reading

Jamaica Money Market Brokers (JMMB), the island's third largest securities trader, estimates that about three per cent of the company's own-account investment portfolio is exposed to last weekend's collapse of the US investment bank, Lehman Brothers.

However, billions of dollars managed on behalf of clients, such as pension schemes, are not part of this mix and are inoculated against a Lehman contagion, JMMB indicated.

Source: Jamaica Gleaner

by: Wally Bock

For centuries people have debated whether leaders are born or made. Several decades ago researchers started trying to answer the question. The debate goes on, even though we know the answer.

It turns out to be a little of both. Leaders are sort of born and they're always made. Knowing the details will help you develop effective leaders for your company.

Leaders are Sort of Born

It seems like there's only one thing that a person needs to actually be born with in order to be a leader later in life. That's intelligence. A leader needs to be smart enough.

by: Jonathon Hardcastle

The US government is one of the three countries in the world that have initiated and maintained the Cuba blockage. Specifically, only US, Israel and Uzbekistan are the rejecting the voice of the United Nations General Assembly to seize this type of trade treatment. More cases appear every year in the news regarding the US embargo consequences on the lives of millions of Cubans. Food, medicine and other important supplies are withheld from the citizens of this island due to its political history and recent communist upheaval that led Fidel Castro in power. But although the General Assembly of the United Nations approved a resolution, condemning the economic blockade that the US has applied to Cuba for more than 35 years, the situation remains almost unchanged.

by: Steven Rich, MBA

Hundreds of foreigners residing here are starting up new businesses in Panama every year.

Panama offers many opportunities for business entrepreneurs. You can start a bar, restaurant, retail shop, hotel, bed & breakfast, provide tour-guides or professional services.

Maybe you are thinking about opening a new business full time? Or, you are retired and thinking of passing the time by engaging in a part-time business.

Whichever you do, Panamanian laws must be understood and complied with. That's why the following information will be useful for every reader who is thinking about starting a business in Panama.

By Guillermo Parra-Bernal

CARACAS, Venezuela (Bloomberg): Venezuelan President Hugo Chavez may have to devalue the currency by 2008 should he fail to curb a surge in government spending, Citigroup Inc. has said.

Royal Caribbean Cruises Limited completed its purchase of Pullmantur SA. The pruchase valued US$900 Million.

Break Down of the US900M

US$552.8 Million equity
US$347.1 Million debt

DB&G’s DIRECTORS RECOMMEND ACCEPTANCE OF SCOTIABANK’S OFFER

On Friday, October 20, Scotiabank and Scotiabank Jamaica, announced their intention to make a joint take-over bid to acquire at least 75% and not more than 80% of the shares in Dehring Bunting & Golding Ltd. (DB&G). The Offer, which is a cash bid priced at J$21.08 and TT$2.00 for each share, opened on October 23.

To communicate the response of DB&G’s Board of Directors to the Scotiabank Offer, DB&G’s Executive Chairman, Peter Bunting, held a media briefing at the DB&G Merchant Bank offices on Thursday, October 26. At the briefing, Mr. Bunting, on behalf of DB&G’s Board, recommended that DB&G’s shareholders accept the Scotiabank Offer.