Nigerian Equities Beat Global Stocks With N371b Gain
Nigerian equities closed weekend upbeat ahead of other major global stock markets with increased demand for Nigerian shares fuelling a four-day rally that left investors with net capital gains of…
Flee From Investments With Unrealistic Returns—SEC Warns Nigerians
For the umpteenth time, Nigerians have been warned to flee from investments that promise to offer them unrealistic returns as this will end in premium tears. This warning was given…
India’s July Palm Oil Imports Plunge 43%, Says Trade Body
India’s July palm oil imports plunged 43% from a year earlier to their lowest in five months, a leading trade body said on Monday, as demand was curtailed by prices…
Tesla Expands Legal, External Relations Workforce In China
Tesla Inc (TSLA.O) is hiring managers for legal and external relations teams in China, according to a job post on its Wechat account, as the electric-car maker faces public scrutiny…
EV Startups Hunt For Low-Cost Roads To Mass Production
Electric car and van startups racing to become the next Tesla Inc (TSLA.O) all want to avoid Elon Musk’s journey through “manufacturing hell.” But electric vehicle firms such as UK…
Home Depot’s U.S. Sales Slow As DIY Frenzy Tapers Off
Home Depot Inc (HD.N) on Tuesday fell short of U.S. same-store sales estimates for the first time in nearly two years, as do-it-yourself projects during the height of the pandemic…
Walmart Raises Forecast As People Return To Stores; Online Sales Slow
Walmart Inc (WMT.N)increased its annual U.S. same-store sales forecast after beating analysts’ estimates on Tuesday, as shoppers coming out of lockdown bought more clothes, travel gear and back-to-school merchandise. As…
Automobile Shortages Weigh On U.S. Retail Sales
U.S. retail sales fell more than expected in July as shortages weighed on purchases of motor vehicles, suggesting a moderation in economic growth early in the third quarter. The weak…
Bill Ackman SPAC Sued , Plaintiffs Say Sponsors Got ‘Staggering Compensation’
Bill Ackman’s troubled SPAC was hit with a lawsuit Tuesday that alleged the blank-check company awarded “staggering compensation” to its sponsors, and asked that the entity’s special status be revoked.…
Walmart Earnings Top Estimates Fueled By Strong Grocery Sales And Back-To-School Spending
Walmart’s second-quarter earnings exceeded Wall Street’s expectations on Tuesday as the retail giant gained ground in its grocery business and had a strong start in back-to-school sales. Shares are down…
ECOWAS Fixes January 2025 Deadline For Adoption Of Cleaner Fuels
Member countries of the Economic Community of West African States (ECOWAS) have set a January 2025 deadline for the adoption cleaner fuels and vehicles in the region to reduce air…
Economic Outlook Getting Better, Adedipe, Others Claim
Chief Consultant of B. Adedipe Associates Limited, Dr. Biodun Adedipe and Director, Monetary Policy Department of the Central Bank of Nigeria (CBN), Dr. Hassan Mahmud, said the prospect of the…
Forex Scarcity, Others Put Pressure On FMCG Companies’ Profits
Analysts have identified scarcity of foreign exchange, inflationary pressures and rising input costs due to naira devaluation as responsible for the shrinking profit margins of some fast-moving consumer goods companies…
Equities Market Declines By N9bn On Profit-Taking In Banking, Oil & Gas Stocks
Trading on the Nigerian equities market yesterday started the week marginally lower, as investors profit-taking in Banking and Oil & gas stocks down the market by N9 billion. In summary,…
Afghanistan Is A ‘Disaster,’ But These Two Market Risks Are Higher On Invesco’s Radar
There are two risks high on Invesco’s radar, but the Taliban takeover in Afghanistan isn’t one of them. Kristina Hooper, the firm’s chief global market strategist, sees a Federal Reserve…
Treasury Yields ebb Lower Ahead Of Retail Sales Data
U.S. Treasury yields ebbed lower on Tuesday, ahead of the release of July’s retail sales data. The yield on the benchmark 10-year Treasury note fell nearly 3 basis points to…
Again, SEC Warns Against Patronage Of Ponzi Schemes
The Securities and Exchange Commission (SEC) has once again, bemoaned the proliferation of fraudulent investment outfits in the capital market, urging investors to desist from patronising of such illegal operators.…
China May Align Itself With Taliban And Try To Exploit Afghanistan’s Rare Earth Metals, Analyst Warns
Afghanistan is estimated to have trillions of dollars worth of rare earth metals, and countries — such as China — that may be looking to swoop in on the country…
Europe Markets Set To Open Lower As Investors Monitor Inflation Data, Afghanistan Crisis
European markets are set to open slightly lower on Tuesday, on track to extend losses after snapping a 10-day winning streak in the previous session. Of the major bourses, the…
China Seeks To Tighten Rules On Unfair Internet Competition, Sending Tech Shares Lower
China’s market regulator issued draft rules on Tuesday aimed at stopping unfair competition on the internet, as Beijing continues its broad crack down on the country’s technology sector. The rules…
United State Stock Futures Dip After Dow, S&P 500 Close At Record Highs
U.S. stock index futures were slightly lower during overnight trading Monday, after the Dow and S&P 500 closed at record highs during regular trading. Futures contracts tied to the Dow…
Chinese Electric Scooter Company Niu Shakes Off Pandemic Slump And Predicts Strong Sales Ahead
Almost three years since Chinese electric scooter start-up Niu Technologies listed in the U.S., the company has not only turned profitable but has also shaken off losses from the coronavirus…
T-Mobile Says It Found Unauthorized Access To Data
T-Mobile US Inc (TMUS.O) on Monday acknowledged a data breach but said it was yet to find if any customer information has been compromised, a day after an online forum…
Beijing Takes Stake, Board Seat In ByteDance’s Key China Entity – The Information
The Chinese government has taken a stake and a board seat in TikTok owner ByteDance’s key Chinese entity, Beijing ByteDance Technology, The Information reported on Monday, citing corporate records and…
Roblox Bookings Miss Wall St Target As Easing Curbs Hurt Online Games
Roblox Corp’s (RBLX.N) quarterly bookings missed market expectations on Monday, as easing restrictions slowed the pandemic-fueled surge in spending for its games including “Jailbreak” and “MeepCity”, sending its shares down…
Analysis: Decentralised Finance: Latest Front In Crypto’s Hacking Problem
For most of the 13-year life of cryptocurrencies, exchanges were the epicentre for cyberheists. Now, a bigger hacking risk in the growing sector has exploded into view: peer-to-peer crypto platforms.…
Pearson To Pay $1 Mln To Settle Charges It Misled Investors, U.S. SEC Says
London-based Pearson PLC (PSON.L) will pay $1 million to settle charges it misled investors about a 2018 cyber intrusion involving the theft of millions of student records, the U.S. Securities…
Dollar Steadies After Weak China Data; Fed Minutes Eyed
The dollar held its ground against major peers on Monday as disappointing monthly activity data from China helped the greenback claw back some losses after a shocking slump in consumer…
Ranking The Currencies That Could Unseat The Dollar
This is the second installment in a series on global currencies. The first part details the forces eroding the U.S. dollar’s reserve status. Half a century ago today, on Aug.…
BOE’s Inflation Alarm Deemed Overly-Cautious By Economists
Bank of England policy makers are being overly-alarmist on their outlook for inflation, economists’s forecasts suggest, casting doubt on the need for a significant tightening in policy in the years…