Fed’s Waller Says U.S. Economy ‘Ready To Rip’ But Inflation Will Level Off
The U.S. economy is set to take off this year as more Americans get COVID-19 vaccinations and become comfortable engaging…
Day: April 16, 2021
GM, LG Energy Solution To Build 2nd U.S. Battery Plant In Tennessee
General Motors Co (GM.N) and South Korean joint-venture partner LG Energy Solution on Friday said they will build a second U.S. battery…
Morgan Stanley Reveals $911 Million Archegos Loss As Profit Jumps
Morgan Stanley (MS.N) lost nearly $1 billion from the collapse of family office Archegos Capital Management, the bank said on Friday, muddying…
S&P 500, Dow Hit Record Highs On Bank Earnings Boost
The S&P 500 and the Dow hit record highs on Friday after Morgan Stanley wrapped up bumper quarterly earnings reports…
Bitcoin Price Drops After Turkey Bans Cryptocurrency Payments
The price of bitcoin (BTC-USD) descended from record highs on Friday following a decision by Turkey’s central bank to ban…
SEC, CBN In Talks On Crypto Market Regulation
The Securities and Exchange Commission has said it is in discussion with the Central Bank of Nigeria on how to…
Euro Zone Yields Rise As U.S. Treasury Yields Jump Back After Rally
Euro zone bond yields rose on Friday, following an overnight jump in U.S. Treasury yields after a hefty rally a…
Forex Scarcity Cripples Local Airlines, Spike Airfares
The foreign exchange (FX) liquidity crisis is eating deeper into the daily operations of the local airlines, causing airlines’ capacity…
More Worries Over Rising Inflation Amid Static Household Incomes
Nigerians have been struggling with some unpleasant news lately, especially from the National Bureau of Statistics. Many were however not…
Why Banks Need To Pay Attention To Where A Digital Euro Is Heading
The European Central Bank makes clear that the development of its “digital euro” will take several years. Yet given the…
Media Portrayal Of Nigeria Led Twitter To Choose Ghana For Africa Office -Minister
Twitter Inc (TWTR.N) failed to choose Nigeria for its first African office because the media misrepresents the country, its information minister said…
Inflationary Pressures To Feed Expectations For Further Yield Increases
According to the National Bureau of Statistics (NBS), Nigeria’s headline inflation rose for the 19th consecutive month to 18.17% YoY…
Buhari Returns From Medical Trip, Expresses Confidence In Service Chiefs
Abuja — President Muhammadu Buhari yesterday returned to Nigeria after a 17-day medical trip to London, the United Kingdom. Buhari…
Qatar May Allow Foreigners To Fully Own Listed Companies
Qatar may allow foreign investors to fully own listed companies, in a move that could trigger more than $1 billion…
Naira Stable At Official, Parallel Markets
Nigeria’s naira gained marginally against the U.S. dollar at the I&E window of the foreign exchange market on Wednesday, data…
Federal Government May Earn N30bn From Cargo Transfer To Onitsha Port, Others
The federal government may have struck gold with the plan movement of cargo from Lagos ports to inland ports across…
Central Bank Of Nigeria Mulls Forex Ban On Sugar, Wheat Importation
The Central Bank of Nigeria (CBN) says it is planning to include sugar and wheat on the list of import…
Federal Government Supporting Private Developers To Provide Electricity – Osinbajo
The Federal Government is currently supporting private developers to provide electricity through solar energy, the Vice President, Prof. Yemi Osinbajo,…
Govt Begins Commercialisation Of Federal Mortgage Bank
The Federal Government on Thursday announced that it had commenced the process for the full commercialisation of the Federal Mortgage…
Over 43 Oil, Gas Cases Waiting To Be Resolved – DPR
The Department of Petroleum Resources has said over 43 cases in the Nigerian oil and gas industry are waiting to…
Kwara Distributes Facilities To Prevent Bird Flu
The Kwara State Government has distributed biosecurity materials to Poultry Farmers in the State. The equipment, which comprised disinfectants, motorised…
Experts Blame Insecurity, Low Production, Forex As Inflation Hits 18.17%
Nigeria’s rate of inflation, which has maintained a continuous increase for more than a year, rose again in March, hitting…
Printed N60bn: Central Bank Nigeria Faults Obaseki, Governor Maintains Stand
The Edo State Governor, Mr Godwin Obaseki, has urged the Federal Government to take urgent steps to end the current…
Controversial Payment: RCCG Petitioner Apologises As Fashola Faces Senate
The Minister of Works and Housing, Mr Babatunde Fashola, on Thursday, explained how his Ministry paid N151m to the Cartil…
Nine Power Plants Shut, Federal Government Apologises For Outages
The Federal Government on Thursday said nine power plants were currently shut down, as this was why power outages had…
Dollar Heads For Second weekly Loss On Fed’s Lower-For-Longer Stance
The dollar headed for its worst back-to-back weekly drop this year amid an extended retreat in Treasury yields as investors…
Hong Kong Tycoon Jimmy Lai, Others To Be Sentenced For Illegal Assembly
Hong Kong media tycoon Jimmy Lai and nine other pro-democracy activists are expected to be sentenced on Friday after they…
City Of London Brexit Hit Worse Than Expected, Says Study
Over 400 financial firms in Britain have shifted activities, staff and a combined trillion pounds ($1.4 trillion) in assets to…
ARK buys $110m Coinbase Shares, Adding To Positions
Celebrity stockpicker Cathie Woods’ ARK funds bought more shares of Coinbase (COIN.O) worth $110 million a day after the cryptocurrency exchange’s…
Investor Einhorn Says Palihapitiya, Musk Poured ‘Jet Fuel’ On GameStop
Investor David Einhorn said on Thursday that prominent venture capitalist Chamath Palihapitiya and entrepreneur Elon Musk threw “jet fuel” on…