Dollar Tiptoes Toward Inflation, Powell Testimony
Currency markets were on edge and the dollar a few ticks lower on Tuesday, ahead of U.S. inflation data which traders think could offer clues about the timing of tapering…
Stocks Simmer Near Record Highs Ahead Of U.S. Inflation Data
Global shares hung near record highs on Tuesday, buoyed by better than expected Chinese export data as markets awaited the release of U.S. inflation data for further clues about the…
Exclusive-European Efforts To Assess Russia’s Sputnik V Vaccine Stymied By Data Gaps
The developers of Russia’s Sputnik V coronavirus vaccine have repeatedly failed to provide data that regulators deem to be standard requirements of the drug approval process, according to five people…
U.S. Consumer Prices Post Largest Gain In 13 years; Inflation Has Likely Peaked
U.S. consumer prices increased by the most in 13 years in June amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels as the…
U.S. Senate Democrats Agree To $3.5 Trln For Budget Reconciliation Bill
U.S. President Joe Biden’s drive for big new infrastructure investment got a boost on Tuesday when leading Senate Democrats agreed on a $3.5 trillion investment plan they aim to include…
Japan’s Q3 Growth Forecast Cut As New Pandemic Curbs Hit
Japan’s economy will grow at a slower pace than initially expected in the third quarter, as fresh coronavirus emergency curbs in Tokyo, extending through the Olympic Games, weigh on consumption,…
BOJ Aimed To Work With Govt In Regional Bank Scheme, Minutes Show
The Bank of Japan’s scheme to incentivise consolidation among regional banks was meant to show it was working alongside the government to tackle problems in the country’s banking system, minutes…
Musk Defends Timing Of Tesla’s $2.6 Bln Deal For SolarCity
Elon Musk told a judge on Tuesday Tesla Inc (TSLA.O) had to buy SolarCity in 2016 because the failing solar panel company was essential to the electric vehicle maker’s long-term…
FCMB Announces Appointment Of Mrs Yemisi Edun As The New Managing Director And Successor To Mr Adam Nuru
The Board of Directors of FCMB Group Plc have announced the appointment of Yemisi Edun as the Managing Director of First City Monument Bank (FCMB) Limited. This announcement is subsequent…
Africa’s Single Currency Realisable, Says AfCFTA Scribe
The Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat, Mr. Wamkele Mene, has predicted that Africa would one day have a common currency that would ease constraints…
Oil Not Going Away Soon – Nigerian Government
Minister of State Petroleum Resources Mr Timipre Sylva, on Monday, reiterated that crude oil was not going away soon as it will continue to be an important component of the…
African Currencies Week Ahead: Kenyan, Tanzania Units To Remain Steady, Uganda’s Shilling Up
KENYA – The Kenyan shilling is expected to remain steady due to subdued demand for dollars amid a slow market, traders said. At 0615 GMT, commercial banks quoted the shilling…
Bitcoin ‘Crash’ Risks Taking Its Price Down To $10,000, Minerd Says
There’s no reason for investors to buy Bitcoin at the moment, according to Guggenheim Investments Chairman Scott Minerd. The world’s biggest cryptocurrency is in the midst of a crash that…
Russian Central Bank Says Inflationary Pressure Remains High, But Is Easing
EMBARGO 1730 GMTInflationary pressure remains high in Russia, the central bank said in a report on Monday, but there are signs that some pressure is easing and annual inflation will…
One Of The Priciest Rough Diamonds Ever Fetches $40 Million
Petra Diamonds Ltd. sold a 39.3-carat blue gem for more than $40 million, making it one of the most expensive rough diamonds ever. The small miner sold the exceptional Type…
EFCC Arraigns Four For N900 Million POS Fraud
The anti-graft agency says the prime suspect connived with some staff members of First Bank to defraud customers using a POS terminal allocated to him. The Economic and Financial Crimes…
Dollar Edges Higher Amid Pandemic Concerns, U.S. Inflation In Focus
The dollar edged higher across the board on Monday as concerns about the pandemic encouraged investors to seek a safe haven, and as they awaited more clues about the global…
Nigeria’s Lagos State Faces “Potential Third Wave” Of COVID-19
He warned of fines or even imprisonment for those who break rules to contain the virus and said Lagos state would step up its vaccination campaign, following the detection of…
Nigeria To Become Oil Bunkering Hub In Africa – DPR
The Department of Petroleum Resources (DPR) has said that Nigeria has moved to become the Marine Petroleum Products Retail Operations (MAPPRO) hub in Africa as it has improved the MAPPRO…
Nigerian Govt Says No Plan To Privatise Electricity Transmission Company
The Nigerian government does not plan to privatise the Transmission Company of Nigeria (TCN), the Bureau of Public Enterprises (BPE), has said. Yunana Malo, Director, Energy Department, of the BPE…
CBN Advocates Private Sector Funding To Tackle 22m Housing Deficit
The Central Bank of Nigeria (CBN) has stressed the need for the mobilisation of private sector funding to redress the country’s 22 million housing gap. The Deputy Governor (Economic Policy)…
As Crackdown Looms, South Korea’s Defiant Crypto Fans Dig In Joori Roh
Yun Hae-ri, a 26-year-old South Korean cryptocurrency investor, has seen the value of a coin named Metadium nearly wiped out since she bought it in April. Like many South Korean…
U.S. Consumer Watchdog Orders GreenSky To Pay Fine For Lending Abuses
The U.S. Consumer Financial Protection Bureau (CFPB) on Monday said it has fined an Atlanta-based financial technology firm $2.5 million for processing and servicing loans to consumers who did not…
Some Twitter Staff Return To Offices In New York, San Francisco
After more than 16 months of working from home, some Twitter Inc (TWTR.N) employees in San Francisco and New York returned to the office on Monday as the company reopened…
Musk Tells SolarCity Trial That Tesla Would ‘Die’ If He Wasn’t CEO
Elon Musk insisted in court that Tesla Inc’s(TSLA.O)board controls the company but also said the electric vehicle maker would “die” if he wasn’t the chief executive, as he ended his…
Nasdaq, S&P 500 Scale New Peaks As Focus Turns To Earnings, Economic Data
Wall Street’s main indexes rose on Monday, with the Nasdaq and the S&P 500 hitting record highs, as investors awaited the start of the second-quarter earnings season and a batch…
U.S. Asks Court To Dismiss Government Appeal Of TikTok Ruling
The Biden administration on Monday asked a federal appeals court to dismiss the Justice Department’s legal challenge to court rulings that barred a Trump-era effort to ban new downloads of…
India’s Paytm Seeks To Raise $268 Mln In Pre-IPO Share Sale-Source
Indian digital payments firm Paytm is planning to raise $268 million in a funding round as it prepares for an initial public offering later this year, a source directly aware…
Walmart’s Flipkart Raises Fresh Funds For $38 Billion Valuation As IPO Looms
Walmart Inc-owned Flipkart on Monday ushered back SoftBank Group Corp (9984.T) as an investor in a $3.6 billion funding round, doubling the Indian online retailer’s valuation to $37.6 billion in…
After U.S. Push, EU Pauses Tax Plan, But Ireland Sticks To Its Guns
The European Union has agreed to delay a corporate tax plan for the bloc following pressure from the U.S. administration and in a bid to facilitate a broader global tax…