Berkshire sheds nearly all of Wells Fargo, a holding since 1989
Berkshire Hathaway Inc (BRKa.N) has sold nearly all of its holdings in Wells Fargo & Co (WFC.N), as Warren Buffett abandoned a more…
Day: May 17, 2021
Some big U.S. hedge funds loaded up on SPACS, value stocks during first quarter
A number of well-known U.S. hedge funds bought value stocks and blank-check acquisition companies, selling some winners from the technology-led…
Bitcoin drops to 3-month low in wild trading after Musk tweets
Bitcoin fell to a three-month low on Monday in a volatile session that saw investors selling and buying the digital…
Dollar Essentially Unchanged As Treasury Yields Hold Steady
The dollar on Monday held steady near recent lows as new restrictions in Asia to contain COVID-19 and mixed economic…
Apple’s App Store chief kicks off iPhone maker’s defense at Epic Games trial
Apple Inc (AAPL.O) on Monday began its formal defense in an antitrust trial brought by “Fortnite” online game creator Epic Games, by…
Summer Travel Is Returning: Here’s Who’s Booking And Where They’re Going
More than half (56%) of Europeans intend to travel this summer with the vast majority choosing to stay within the…
PM Urges ‘Heavy Dose Of Caution’ As Hugs, Indoor Pints And Foreign Holidays Return In England
As the country moves to stage thre of the PM’s roadmap, friends and family will enjoy greater freedom to gather…
Why Airbnb (ABNB) Looks Set To Bounce Back
It is easy to argue, as so many have over the last few years, that the market’s recent love affair…
Canadian Dollar Steadies As Housing Activity Calms In April
The Canadian dollar was little changed against its U.S. counterpart on Monday, consolidating some recent gains as Wall Street edged…
Dollar Holds Firm As Virus Restrictions In Asia Unnerve Investors
The dollar held above recent lows on Monday as new COVID-19 restrictions in Asia and mixed economic data in China…
Chinese Yuan Slumps As PBoC Injects $16 Billion Into Financial System
The Chinese yuan weakened against several of its major currency counterparts to kick off the trading week as the People’s…
Nigeria’s Inflation Rate Slows To 18.12% In April — First Decline In 20 Months
The consumer price index, which measures the rate of change in the price of goods and services, dropped to 18.12…
India’s Oil Demand Shrinks Further As Virus Crisis Persists
India’s oil demand worsened in the first half of May as large parts of the nation remained under local lockdowns…
Inflation – Money Supply Rises 22.5 Percent To N38trn
The increasing demand for cash by members of the public to meet the rising prices of goods and services has…
The World Economy Is Suddenly Running Low On Everything
A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the…
ANALYSIS: 77% Of Oil Spills In Nigeria Occurred In Only Three States
Between January 2019 and April 2021, 12 states in Nigeria recorded 881 cases of oil spillage, according to data obtained…
N120b Petrol Subsidy To Double As CBN Adjusts Exchange Rate
As the Central Bank of Nigeria (CBN) signals a subtle harmonisation of exchange rates with the removal of N379/$1 official…
Currency Printing Is Finance Ministry’s Responsibility, Says Owoh
Godwin Owoh, a professor of applied economics and expert in central banking, in an interview with GEOFF IYATSE, speaks on…
NNPC Selects 26 Firms To Lift Nigeria’s Crude Oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift…
Agusto & Co Forecasts $22bn Diaspora Remittances For Nigeria In 2021
Pan-African credit rating agency, Agusto & Co has projected that Nigeria’s diaspora remittances will reach $22 billion by 2021, representing…
Branch Offers Free Money Transfers
The Branch Finance Company is offering free unlimited money transfers and a 20 per cent per annum investment returns for…
Investors Gain N150bn As Nigerian Stocks Cut Losses
Investors gained N150bn at the close of trading on the Nigerian Exchange Limited last week as stocks pared their losses.…
China Loan At Risk As Nigeria Faces New Claim Over Power Deal
A Nigerian company that lost out on a contract to build a multibillion-dollar hydropower plant has filed a $400 million…
Sterling Holds Recent Gains As Britain Enters Second Phase Of Reopening
Sterling held on to recent gains against the dollar on Monday as Britain took a big step towards reopening its…
$1.24bn Spent On Food Imports Despite Buhari’s Forex Ban
Food products imports gobbled up $1.24bn of the foreign exchange supplied by the Central Bank of Nigeria from October 2020…
Elon Musk Just Reopened An Old Wound In The Bitcoin World
Earlier this year, when Tesla added Bitcoin to its balance sheet, CEO Elon Musk became an instant hero in the…
NSML To Establish Dry Docking Facility
The NLNG Ship Management Limited (NSML), which manages vessels belonging to the Nigerian Liquefied Natural Gas (NLNG), is to establish…
Dollar Lower After Weak Data, As Inflation Fears Ease
The dollar edged lower against major currencies on Friday after U.S. retail sales unexpectedly stalled in April and as concerns…
IMF Mission Says Ghana Economy Rebounding
A country mission of the International Monetary Fund said on Friday that Ghana has managed its COVID-19 outbreak very effectively…
Nigeria Devalues Naira, Official Rate Now 411 To Dollar
Nigeria let the naira weaken to a record low against the dollar on the official market on Friday, according to…