New York Attorney General Sues Amazon Over Covid Shortfalls
New York Attorney General Letitia James sued Amazon.com on Tuesday over its handling of worker safety issues around the Covid-19 pandemic at…
Day: February 17, 2021
Marketers Raise Petrol Price To N170, Depots Suffer Shortage
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent…
US Sells $200m In Weapons To Egypt Despite Human Rights Abuses
The United States approved an arms sale worth nearly $200m to Egypt but vowed to press human rights issues after…
Nigeria To Turn Central Bank’s $26 Bln Financing Into 30-Year Loan
Nigeria plans to convert 10 trillion naira ($26.3 billion) worth of short-term government financing by the central bank into a…
Interswitch Joins Nigeria’s $17Bn E-commerce Market With Quickteller Business
Interswitch-owned Quickteller has become the latest entrant in the Nigerian e-commerce market estimated at $17 billion. The payment unit announced…
U.S. Producer Prices Post Biggest Gain Since 2009
U.S. producer prices increased by the most since 2009 in January as the cost of goods and services surged, suggesting…
Walmart Investors Eye Push Into Advertising, Healthcare Following Pandemic Boom
Walmart Inc’s investors and analysts are likely to look past the retail giant’s slowest same-store sales growth since the start…
A Nigerian Rivers Investment Firm Flees With Depositors’ Funds
AN investment company in Igwuruta, Obio/Akpor Local Government Area of Rivers State has left its customers devastated after their office…
Nigeria: Declare State Of Emergency On Security, Senate Tells Buhari
The Senate on Wednesday asked the President, Major General Muhammadu Buhari (retd), to declare a state of emergency on security…
Nigerian Marketers Raise Petrol Price To N170, Depots Suffer Shortage
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent…
Federal Government Of Nigeria Subsidises Electricity By N50Bn Monthly, Says Minister
The Federal Government has been subsidising electricity supply across the country to the tune of over N50bn monthly, the Minister…
Nigeria May Demand For Increased Crude Production From OPEC+ In March
Nigeria may demand increased daily crude oil production from OPEC+ in March when the restriction placed on the country’s production…
G10 FX Short-Term Valuation: Most Currencies Have Further To Run Vs USD
Based on our short-term fair value model, EUR, JPY, NZD and AUD are all undervalued vs USD by more than…
Experts Caution Federal Government, Central Bank Of Nigeria As Inflation Hits 16.47%
As Nigeria’s headline inflation jumps to 16.47 per cent from 15.75 per cent, economic experts have implored the federal government…
Africa Leads Global Mobile Money Growth With 46 Percent
There are about one billion mobile money accounts globally, according to latest report by cybersecurity giants, Kerspersky. These accounts, the…
Wealthy, Efficient Dutch Play Catch-Up In Vaccine Roll-Out
Despite its wealth and reputation for efficiency, the Netherlands trails in the European Union vaccination rankings, its roll-out hampered by…
Nigeria’s Debt To Balloon Beyond N49trn On Conversion Of Central Bank Of Nigeria N10trn Borrowing
Nigeria has set the terms for the conversion of its stock of central bank overdrafts into long-term notes. The conversion…
Analysis: Europe Braces For Pandemic Reality To Hit Banks
Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether…
Naira Steadies Across FX Market Segments As Bitcoin Sells Above N24.7m
The Naira was relatively stable against other currencies across all the tracked segments at the foreign exchange market on Tuesday,…
Reps, Finance Ministry Spat Over N2.8B Payment To OPEC
The House of Representatives and the Ministry of Finance yesterday disagreed over the procedure for paying N2.8 billion to the Organisation…
Dollar Needs Retail Sales Comeback
U.S. traders came back from their long weekend on Tuesday ready for a busy trading week. They drove stocks to…
Citigroup Cannot Recoup Revlon Payouts After Nearly $900 Million Gaffe: U.S. Judge
A federal judge on Tuesday said Citigroup Inc C.N is not entitled to recoup half a billion dollars of its own money…
U.S. Shale Could Face Weeks Of Depressed Oil Production Due To Cold
The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to…
Bitcoin’s Record Price Unsustainable Without Lower Volatility: JPMorgan
Bitcoin’s charge to a record north of $50,000 isn’t sustainable unless the cryptocurrency’s price swings cool down quickly, JPMorgan analysts…
Rising U.S. Yields Takes Edge Off Stocks Rally
Stock markets scratched out a new record peak in Asia on Wednesday, but their rally lost a bit of steam…
Why MTN Is Partnering African Union To Help Vaccinate 7m Health Workers
Every year, the National Fire Protection Association puts out a report about injuries to firemen in the United States. In…
Dollar Hits Five-Month High Against Yen As Inflation Talk Boost U.S. Yields
The dollar held the upper hand against low-yielding currencies on Wednesday, hitting a five-month high against the yen as U.S.…
UK Inflation Rises To Three-Month High Of 0.7%
British inflation rose a little more than expected in January as the country went back into a coronavirus lockdown, pushed…
Column: Central Bank Digi Cash Spooking Shadow Economy To Crypto
If central bank digital cash is to rapidly replace banknotes, a shadow economy worth trillions of dollars may creep deeper…