Pound Rallies Over $1.41 To Highest Since February
The pound has surged on the foreign exchange markets today, thanks to a cocktail of economic optimism and fading political risks. Sterling has jumped over a cent and a half…
Nigerian Mid-Crop Cocoa Output Seen Rising – Cocoa Association
Nigeria’s mid-crop cocoa output is expected to rise following higher than expected rainfall which hashelped boost output for the 2020/21 season to an estimated 320,000 tonnes, the president of the…
Gas Flaring Declined In 2020, Study Finds
LAGOS, Nigeria — Gas flaring worldwide decreased by 5 percent in the pandemic year, mostly because of lower demand for oil, according to a recent report from the World Bank.…
Nigeria’s Mutual Funds Rose To N1.6tn In 2020 – Coronation Asset
Funds reporting needs to be harmonised as Nigeria’s mutual funds rose to N1.6tn as of the end of 2020, Coronation Asset Management Limited has said. The firm disclosed this on…
Pipeline Outage forces airlines to find other ways of getting fuel
The cyberattack that forced the shutdown of the country’s largest refined fuel-products pipeline over the weekend has sparked some routing changes for American Airlines as it seeks to conserve fuel…
‘It’s a big deal’ for America’s push to reopen, says NIH Director on Pfizer vaccine approval for adolescents
National Institutes of Health Director Dr. Francis Collins described the Food and Drug Administration’s emergency use authorization of Pfizer and BioNTech’s Covid vaccine for kids aged 12 to 15 as…
Cloud stocks plunge to six-month low as investors hasten rotation out of recent top performers
The rotation out of tech stocks continues to hammer cloud companies the hardest, as investors sell out of last year’s best performers. While the Dow Jones Industrial Average is trading…
Citi downgrades Facebook and Google, says ad market expectations are too bullish
The growth trajectory for the online advertising market doesn’t appear to be strong enough to drive more gains for two Big Tech stocks that rely heavily on that business, according…
Shares of The Trade Desk close down 26% after company reports earnings and upcoming stock split
Shares of ad tech company The Trade Desk closed down nearly 26% on Monday after the company reported first-quarter earnings and a 10-for-1 stock split. Here’s how The Trade Desk…
NTSB releases preliminary report on fatal Tesla crash in Spring, Texas
The National Transportation Safety Board, a federal agency that investigates accidents, has released records from a preliminary probe of a fatal Tesla crash that took place in Spring, Texas, in…
Goldman says these are the biggest threats to the dominant 5 tech stocks
The so-called FAAMG stocks — Facebook, Apple, Amazon, Microsoft, and Google-parent Alphabet — have evolved into dominant juggernauts in the market, but Goldman Sachs is warning about a few threats…
These cybersecurity stocks could benefit from the Colonial pipeline attack, says Goldman
The cyberattack that knocked a key U.S. gas pipeline offline should be another positive for the stocks in growing cybersecurity industry, Goldman Sachs said in a note to clients on…
More than 40 attorneys general ask Facebook to abandon plans to build Instagram for kids
Attorneys general from 44 states and territories urged Facebook to abandon its plans to create an Instagram service for kids under the age of 13, citing detrimental health effects of…
Cloudflare seeing uptick in cyber incidents as hackers try ‘unleashing everything,’ CEO says
Cybersecurity provider Cloudflare has observed a significant rise in threats toward its customers in recent months, CEO Matthew Prince told CNBC on Monday. Prince’s comments, made in a “TechCheck” interview,…
Roblox revenue grows 140% in first earnings report since company went public
Roblox shares rose as much as 5% in after-hours trading, following the release of the company’s first earnings report since it went public in a direct listing in March. Here’s…
Bitcoin’s biggest rival just hit a record high — here’s how to mine for ethereum
Bitcoin’s biggest rival, ether, blew past $4,000 on Monday to hit a new record high. The cryptocurrency is up more than 400% so far this year. While it is easier…
Tom Lee is worried about ‘FANG’ and tech, favors these three sectors now amid the reopening
Fundstrat’s Tom Lee tweaked his group of reopening “epicenter” sectors and is sounding the alarm about weakness in major tech names. The market strategist said in a note that the…
SolarEdge’s slide offers a buying opportunity, Bank of America says in upgrade
Bank of America upgraded shares of SolarEdge Technologies to a buy rating on Monday, saying the stock’s post-earnings sell-off is overdone. Shares of the solar inverter company are down nearly…
Ford names new F-150 electric pickup Lightning with plans to reveal it May 19
Ford Motor’s upcoming all-electric F-150 pickup truck will be called Lightning, a name used by the automaker for street performance trucks in the 1990s and early 2000s. Ford released the…
FDA permits use of the Pfizer-BioNTech Covid vaccine in kids ages 12 to 15
The Food and Drug Administration on Monday approved Pfizer and BioNTech’s request to allow their Covid-19 vaccine to be given to kids ages 12 to 15 on an emergency use…
Investors are being driven out of the flashy stocks into ‘boring’ names as the economy grows, Jim Cramer says
Many stocks that were up in Monday’s session will continue winning, while those that declined will likely keep melting down, CNBC’s Jim Cramer said. “The stocks that held up today…
Tesla, GM and Visa among the ‘Memorial Day trade’ stocks to play, Jim Cramer says
With a holiday and the summer months on the horizon, CNBC’s Jim Cramer on Monday revealed a list of stocks that have a history of rising on what’s dubbed the…
What Is Dogecoin? And Why Is It Rising And Falling With Elon Musk?
The cryptocurrency dogecoin went on a rocket ride to the moon and back over the weekend after Elon Musk poked fun at it on Saturday Night Live before announcing on…
Petroleum Production And The Paradox Of Plenty
Takudzwa Takunda Mutevedzi Imagine winning a million-dollar lottery but instead of rolling around in opulence and glamour for eternity, you plunge into perpetual poverty. Oil has been referred to as…
UK Secures £276m From G7 To Assist North-East Nigeria
ntries face. Millions of people in Yemen, South Sudan and North East Nigeria are already in crisis, the statement said. The crisis in North-East Nigeria is more than a decade…
Ecobank Partners NiDCOM To Mobilise Nigerians Abroad For National Development
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has stated that the bank is privileged to work closely with the Nigerians in Diaspora Commission, (NiDCOM) and will continue to pursue one…
Biggest Crypto Exchange Binance Briefly Suspended Withdrawals
Binance Holdings Ltd., the largest cryptocurrency exchange, briefly suspended withdrawals on Monday. The company made the announcement on Twitter that it had stopped withdrawals, and then about half an hour…
World’s Dollar Reserves Hit 25-Year Low
The percentage of global foreign reserves held in U.S. dollars declined to its lowest point in 25 years during the fourth quarter of 2020. Why it matters: The U.S. dollar…
Wall Street Unleashes Old Tricks In $2.5 Trillion Crypto Jungle
The symbols for Bitcoin and Ethereum cryptocurrency sit displayed on a screen during the Crypto Investor Show in London, U.K., on Saturday, March 10, 2018. The meeting is the largest…
Uber Raises Fares By 13% In Lagos
The economy option for Uber, popularly referred to as UberX, has been increased by 13 per cent in Lagos State. An electronic mail message from the ride-hailing firm to its…