Crude Sinks To Three-Month Low As Fuel Demand Wanes
Crude in New York dropped to the lowest since May after a surprise increase in U.S. gasoline inventories signaled fuel…
Day: August 18, 2021
Exchange Rate Used For Purchasing Stocks Via Fintech Apps Falls To N522/$1
The exchange rate for converting naira to dollar using FinTech apps nosedived to N522/$1 according to data collated from the…
Seized Cash Worth $4.7 Billion Fuels Nigerian Political Fight
Nigeria’s state governors sued the federal government for allegedly failing to share billions of dollars in confiscated funds with their…
Canadian Inflation Jumps To 3.7%, Creating Trouble For Trudeau
Canadian inflation accelerated to match its highest reading in almost two decades, threatening to become a political headache for Prime…
Fed Govt Offers N150b Long-Term Bonds
The Federal Government will today auction medium-to long-term bonds valued at N150 billion as part of government’s efforts to access…
UK Inflation Slows More Sharply Than Expected To 2.0% In July – ONS
British inflation fell to the Bank of England’s 2% target last monthin an unexpectedly sharp slowdown that economists said was…
Sterling Hovers Near Recent Lows, Unmoved By Inflation Slowdown
Sterling hovered near a 3-1/2-week low on Wednesday after UK inflation data showed a sharper slowdown than expected. The pound…
Nigeria’s Economy May Grow To 2.5% In 2021, 2.6% In 2022, IMF Predicts
The International Monetary Fund (IMF) has maintained an unchanged economic growth rate of 2.5 per cent for 2021 and 2.6…
Forex – Labour Advocates Improved Monetary, Fiscal Policies
The leadership of Association of Senior Civil Servants of Nigeria (ASCSN) has called on federal government to take necessary measures…
Nigeria’s Foreign Reserves To Surpass $40bn By September –Experts
Against the backdrop of a $3.35 billion direct allocations approved by the International Monetary Fund (IMF), financial experts have observed that…
U.S. SEC Says It Charges Former Netflix Staffers For Insider Trading
The U.S. Securities and Exchange Commission (SEC) on Wednesday said it has charged three former engineers at Netflix (NFLX.O) for trading on…
Aurora Releases Tool To Gauge Safety Of Self-Driving Systems
Aurora, the Silicon Valley self-driving startup founded by former Tesla, Uber and Google executives, has released what it says is…
S&P 500, Dow Edge Lower Ahead Of Fed Minutes
The S&P 500 and the Dow inched lower in choppy trading on Wednesday as investors refrained from making big bets…
Big-Ticket Spenders Boost Lowe’s Sales, Shares Jump
Lowe’s Cos Inc (LOW.N) said on Wednesday that professional builders and handymen were rushing back to its stores, boosting sales at a…
U.S. Senators Urge FTC To Probe Tesla Over Self-Driving Claims
Two U.S. senators on Wednesday pressed the Federal Trade Commission (FTC) to probe Tesla (TSLA.O), saying the company has misled consumers…
Nigeria’s Central Bank Reportedly Freezes Accounts Of Chaka, Bamboo; What Happens To Your Investments?
A Federal High Court sitting in Abuja has granted the Central Bank of Nigeria an order to freeze the accounts…
Naira Abusers Risk Jail Terms, Central Bank Of Nigeria Warns
The Central Bank of Nigeria (CBN) has disclosed that it is working with the Nigeria Police Force (NPF), Federal Inland…
Central Bank Of Nigeria Moves To Strengthen Cybersecurity In Other Financial Institutions
The Central Bank of Nigeria (CBN) yesterday moved to strengthen cyber resilience of Other Financial Institutions (OFIs) under its regulation…
Experts Raise Concern As Nigeria’s Inflation Falls To 17.38%
Economic experts have expressed concerns over the reported decline in the country’s inflation rate to 17.38 per cent in July.…
TY Holdings Acquires 72% Stake In BOC Gases Nigeria
TY Holdings Limited yesterday announced to investing public that it has acquired 72 per cent stake in BOC Gases Nigeria…
Stock Market Rebounds As Investors Gain N23bn
The equities market on the Nigerian Exchange Limited rebounded from the loss recorded on Monday with investors gaining N23.04bn as…
Dollar Settles Near 4-1/2 Month Highs As Risk Appetite Cools
The dollar held near a 4-1/2 month high versus a basket of major currencies on Wednesday as simmering concerns about…
Mortgage Rates Hit Their Highest Level In A Month, And Weekly Demand Drops
Borrowers backed away from the mortgage market last week, as higher interest rates chilled a recent revival in refinances. The…
PayPal And Fiserv Partner To Allow Paycheck Deposits Into Venmo Accounts
Getting gig economy workers to send their paychecks directly to a PayPal or Venmo wallet is one of the goals of a…
Chinese Tesla Rival Xpeng Expands Production Capacity As Competition Heats Up
Chinese electric carmaker Xpeng is doubling the production capacity at one of its key plants as competition heats up. Xpeng said it…
Tesla Is Facing A Critical Technical Support Level — And A Break Below Could Mean ‘Bulls Are No Longer In Charge,’ Trader Warns
Tesla’s recent declines are taking the stock to treacherous territory, one trader warns. Shares of the electric vehicle manufacturer fell nearly…
Stocks making the biggest moves premarket: Lowe’s, Target, Krispy Kreme And Others
Lowe’s (LOW ) – The home improvement retailer reported an adjusted quarterly profit of $4.25 per share, beating the consensus…
Crypto Exchange Binance Hires Former US Treasury Criminal Investigator
Binance said on Wednesday it had appointed a former U.S. Treasury criminal investigator as its global money laundering reporting officer,…
New Nissan Z Sports Car Unveiled As Halo Vehicle Amid Automaker’s Turnaround Plan
Nissan Motor on Tuesday unveiled its new Z performance vehicle — a favorite of enthusiasts and customizers — as an…
TSMC Overtakes Tencent To become Asia’s Most Valuable Company, As China Crackdown Takes A Toll
The world’s largest chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) has overtaken Chinese tech behemoth Tencent to become Asia’s most valuable…