Sterling Rises Above $1.42 After UK Jobs Data
Versus a weaker dollar, the British pound rose to a three-month high on Tuesday, with sentiment also boosted by jobs data showing that Britain’s unemployment fell between January and March.…
Brent Oil Climbs To $70 A Barrel As Reopenings Boost Demand
Brent crude topped $70 a barrel in London for the first time since mid-March amid signs that recovering consumption has whittled away a glut of oil that built up last…
Dollar Drops As Yield Support Fades Amid Expectations Of Low U.S. Rates
The dollar plumbed a six-year trough against the Canadian dollar and teetered near multi-month lows versus European currencies on Tuesday, as Treasury yields stalled amid renewed expectations the United States…
UK Jobless Rate Falls Again, Hiring Up As Lockdown Eases
Britain’s unemployment rate fell again to 4.8% between January and March, when the country was under a tight lockdown, and hiring rose further in April, according to data that showed…
Shipping Gathers Together To Fight Piracy Off Nigeria
Around 100 maritime companies have signed the Gulf of Guinea Declaration on Suppression of Piracy, which was launched yesterday, as shipping tries to cool the world’s worst hotspot for robberies…
China’s Yuan Firms As Dollar Drops On U.S. Rate Outlook
China’s yuan strengthened on Tuesday as investors tempered earlier expectations that the U.S. central bank could hike interest rates soon, weighing on the dollar. But traders said a robust U.S.…
Nigerian Stocks Halt Gains As Sell Pressure Weighs On Big-Cap Shares
Nigerian equities were down by 0.44 per cent on Monday, shedding value for the first time in 10 days in a trading session that saw sector giants: MTN and GTB…
Analysts Express Cautious Optimism As Inflation Drops To 18.12%
After 20 consecutive months of increase, the Consumer Price Index(CPI), which measures inflation has dropped to 18.12 per cent (year-on-year) in April, compared to 18.17 per cent the previous month,…
Family Businesses Key To Realising Nigeria’s 6% Yearly Growth
Based on their significance, it is pertinent that lasting family businesses emerge in Nigeria if the country will realise its desired growth potentials of four per cent – six per…
AfDB, European Bank To Bridge US$2.5trn Financing Gap In Africa
The African Development Bank (AfDB) Group and the European Bank for Reconstruction and Development (EBRD) have signed a memorandum of understanding (MoU) on Monday to promote sustainable private-sector development in…
The Naira Depreciated Against The US Dollar On IEFX Window As Nigeria’s Oil Production Improved
The Macroeconomy Nigeria’s oil production improved. Headline inflation inched up further in March 2021. The Naira depreciated against the U.S. Dollar on the I&E FX Window. The Financial Markets Bulls…
Nigerian Naira Weakens On Official Market
ABUJA: Nigeria’s naira inched down against the dollar on Monday, having recently weakened in the official market in a move suggesting the central bank may be trying to unify its…
Banks Consume More Energy Than Bitcoin – Report
A report by Galaxy ‘On Bitcoin’s energy consumption’ has revealed that traditional banks use more energy than Bitcoin. Last week, the crypto market tanked after Tesla said it was no…
Exchange Rate: Outlook Of Ghana’s Cedi Against Foreign Currencies
On the interbank board today May 17, 2021, the Ghana Cedi started the 21st trade week of the 2021 fiscal year on a stable note as it is trading against…
Raising Diaspora Remittances With Offshore Networks, Partnerships
Diaspora remittances remain major sources of stable external financing for Nigeria and developing countries. Countries have continued to harness these benefits despite the global fall in remittance flows in the…
Nigeria’s Annual Inflation Rate Dips Slightly In April, Naira In Focus
Nigeria’s annual inflation eased marginally to 18.12%, the first dip in the rate in 20 months, the statistics office said on Monday, despite recent naira weakness. It reached a more…
Foreign Investors’ Trapped $2bn Dragging Down External Reserves – Rewane, Others
The clearing of foreign portfolio investors’ funds that have been trapped in Nigeria for months on the back of foreign exchange scarcity is putting downward pressure on the country’s external…
Naira Gains 0.04% At I&E, Remains Unchanged At Black Market
The Naira appreciated by 27 kobo or 0.04 per cent on the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange market on Monday, May 17.…
WorldRemit Backs CBN’s Extension Of Naira-4-Dollar Scheme
WorldRemit, a global cross-border payments company, has expressed support for the Central Bank of Nigeria’s decision to extend the deadline of the Naira-4-Scheme that was introduced in March this year.…
Pound-Dollar Steady On UK Lockdown Easing
The Pound US Dollar (GBP/USD) exchange rate is steady as the latest lockdown easing measures come into force across much of the UK today. At the time of writing the…
California regulator reviews Tesla’s self-driving claims
A California regulator said on Monday it is reviewing whether Tesla Inc (TSLA.O) violated regulations by falsely promoting its advanced driver-assistance systems as being “full self-driving.” Tesla’s driver assistant features,…
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 than 31-year-old investment that had been among…
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 stock rally as bond yields rose during the first quarter,…
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 currency after Tesla boss Elon Musk tweeted about the carmaker’s…
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 signals from China supported safe-haven currencies, while bitcoin extended its…
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 calling its App Store chief Phil Schiller to…
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 continent, according to the European Travel Commission, a non-profit organization…
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 together. BY Greg Heffer People across England are again able…
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 with growth has gotten a little overheated. That has led…
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 lower and domestic data showed activity easing in Canada’s red-hot…