S&P 500, Nasdaq Notch All-Time Closing Highs Ahead Of Jackson Hole
Wall Street gained ground again on Wednesday, with chipmakers and financials helping to push the S&P 500 and the Nasdaq…
Day: August 25, 2021
U.S. Near Deal For Nvidia Supercomputer As It Waits For Delayed Intel Machine -Sources
The U.S. Department of Energy is nearing a deal to purchase a supercomputer made with chips from Nvidia Corp (NVDA.O) and Advanced…
EU Extends Deadline On Facebook’s Kustomer Deal To Jan. 7
EU antitrust regulators will decide on Jan. 7 whether to clear Facebook’s (FB.O) purchase of U.S. customer service startup Kustomer, a European…
Western Digital In Advanced Talks To Merge With Japan’s Kioxia Holdings – WSJ
Western Digital Corp (WDC.O) is in advanced talks for a potential $20 billion stock merger with Japanese semiconductor firm Kioxia Holdings Corp,…
Hybrid Work Demand Fuels Salesforce Earnings Forecast
Salesforce.com Inc (CRM.N) on Wednesday signaled the shift to hybrid work would keep demand for its cloud-based software strong in the third…
Google Brings Samsung 5G Modem Tech To U.S. Market With New Pixel Phone -Sources
Google will tap Samsung Electronics Co Ltd (005930.KS) to supply the 5G modem for its next flagship Pixel smart phone, sources familiar…
Nigerian E-Naira Currency Could Be A ‘Game Changer’ But Banks Will Have To Adapt
Nigeria is set to test a central bank digital currency from October, a move that could reshape the country’s financial landscape…
South Africa Rebases GDP, Revises Economic Growth Figures
South Africa has rebased its gross domestic product (GDP) survey, with the new data showing the economy was 11% bigger…
CBN, Bankers Committee Have More Money For Creative Industry
The Central Bank of Nigeria (CBN) led by Godwin Emefiele, its governor, and the bankers committee still have more money for the…
FX: Customers To Return Unutilized PTA/BTA Within 2 Weeks
Customers who approached commercial banks for the purchase of foreign exchange (FX) at cheaper rates especially for personal travel allowance/business…
Gold Eases On Steady Dollar, Focus On Jackson Hole
Gold retreated below $1,800 on Wednesday as the dollar halted its slide while investors sought cues on the timeline of…
Turkish Lira Rises In Muted FX Trade As Focus Turns To Jackson Hole
The Turkish lira rose on Wednesday while other emerging market currencies were muted as investors turned to an annual U.S.…
Nigerian Tax Tribunal Orders Multichoice To Pay 50% Of Disputed $4.4 Bln Tax Bill
A Nigerian tax tribunal ordered the local unit of South Africa’s pay-TV company Multichoice to pay 50% of a disputed…
Ghana’s Currency Heads For Weakest-Ever Close Vs Dollar
The biggest injection of dollars yet by Ghana’s central bank failed to stem the cedi’s slide on Wednesday amid a…
China Reopens World’s Third Busiest Port After Partial Virus Halt
China reopened a key terminal at the world’s third-busiest cargo port on Wednesday, after a shutdown to control the coronavirus…
Banks Come Under Fire As Fraud Cases Reach New Heights
In the wake of the pandemic has come a scammers epidemic. The crime is so widespread, aggressive and severe that…
Oil Steadies Near $71 After Two-Day Rally
Oil prices steadied near $71 a barrel, taking a breather after a strong rally in recent days as Mexico was…
Sterling Steady, Currency Markets Lack Momentum Ahead Of Jackson Hole
Sterling was little changed on Wednesday, lacking direction as investors waited for the Federal Reserve’s annual economic symposium on Friday…
Dollar Perks Up To Trade Above One-Week Low On Delta Variant Fears
The safe-haven dollar gained on Wednesday to trade above a one-week low versus major peers amid concerns that the highly…
Group Blames FG As Saudi Arabia Recruits Nigerian Doctors
THE Federal Government on Monday feigned ignorance as a firm concluded arrangement to recruit Nigerian doctors for Saudi Arabia. The…
Global Corporate Profits To Fall 8% In Q3 After Record Q2 – Data
Global corporate profits in the third quarter are likely to fall for the first time in 18 months after record…
‘Tax Evasion’: Tribunal Orders Multichoice To Pay N900bn To FIRS Before Hearing Appeal
A tax appeal tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited to pay 50 percent of N1.8 trillion…
Nigeria: Globacom Redefines TV Viewing With Glo TV Launch
In a bold step to redefine television viewing experience for all Nigerians, Globacom has announced the launch of Glo TV, an innovative TV streaming…
Nigeria: FG, States, LGAs To Get New Revenue Formula This Year –RMAFC
Twenty-eight years after the last revenue sharing formula was introduced, the Chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr…
Stocks Making The Biggest Moves Premarket: Dick’s Sporting, J&J, Express, Shoe Carnival, Others
Dick’s Sporting Goods (DKS) – The sporting goods retailer’s shares jumped 4.9% in the premarket, as its quarterly earnings beat…
Ray Dalio Is Wrong About China’s Tech Crackdown, Economist Says
China expert George Magnus disagrees with Bridgewater Associates’ Ray Dalio on Beijing’s tech crackdown. In a LinkedIn post this month,…
Nigeria: FG Releases N1.3trn To Fund 2021 Capital Budget
The federal government has released N1.3 trillion to fund part of the 2021 capital expenditure budget of its Ministries, Departments…
Nigeria: Reps Direct PPPRA To Produce Consumption, Revenue Remittances Records
The House of Representatives committee on Finance has directed the Pipeline Products Pricing Regulatory Agency (PPPRA) to reconcile its daily…
Nigeria: Ending Subsidies Puts Nigeria On Fiscal Sustainability Path
A former Governor of the Central Bank of Nigeria (CBN) and a former Emir of Kano, Sanusi Lamido Sanusi, has…
Nigeria: Facebook Extends Marketplace Initiatives To 37 SSA Countries
Facebook has extended its marketplace initiatives to 37 countries and territories in sub-Saharan Africa. Already available in South Africa, Ethiopia,…