Dollar Holds Firm Near 4-Month High, Retains Weekly Gains On Fed Bets
The dollar held firm on Friday, staying near its highest level in four months against a basket of currencies as investors looked for more hints from the Federal Reserve on…
APMDC Counters Shippers’ Council Over Claims Of Arbitrary Charges
The Associated Port Marine Development Company has denied allegations of arbitrary charges and charging in foreign currency levelled against it by the Nigerian Shippers’ Council. The council had earlier closed…
Thai Baht Gains Among Muted Asian Currencies; S.Korea’s Won Slips
Thailand’s baht edged up among mostly muted Asian currencies on Friday, after a short-lived retreat in the dollar this week even as COVID-19 worries capped gains, while South Korea’s won…
Crypto Platform Poly Network Rewards Hacker With $500,000 ‘Bug Bounty’
Poly Network, the cryptocurrency platform which lost $610 million in a hack earlier this week, confirmed on Friday it had offered the hacker or hackers a $500,000 “bug bounty”. In…
U.S. House Members Introduce Bill Targeting Apple And Google App Stores
A Republican and a Democratic member of the U.S. House of Representatives introduced a bill aimed at reining in powerful app stores run by companies like Apple Inc (AAPL.O) and…
Port, Shipping Firms Divert Vessels After A Ningbo Terminal Shuts
Ports and shipping companies are diverting vessels from a container terminal in China’s busiest marine transportation hub which was forced to close after a coronavirus case emerged, as the pandemic…
Tesla’s Musk Hopes To Make First Cars At Berlin Plant In Oct
Tesla (TSLA.O) hopes to make the first cars at its “Gigafactory” in Gruenheide, near Berlin, in October or soon afterwards, Chief Executive Elon Musk said on Friday. Tesla has pushed…
U.S. Consumer Sentiment Plummets In Early August To Decade Low
U.S. consumer sentiment dropped sharply in early August to its lowest level in a decade, in a worrying sign for the economy as Americans gave faltering outlooks on everything from…
Virgin Galactic Falls As Billionaire Branson Sells Stake Worth $300 Million
Shares of Virgin Galactic Holdings Inc (SPCE.N) fell nearly 3% on Friday after its founder and British billionaire Richard Branson sold a portion of his stake for nearly $300 million.…
Peloton Is Sued For Improperly Charging Sales Tax
Peloton Interactive Inc (PTON.O) subscribers have filed a proposed class action lawsuit accusing the maker of at-home stationary bicycles of improperly charging sales tax on memberships in New York, Virginia…
Strong Disney Earnings Push S&P 500, Dow To New Peaks
The Dow and the S&P 500 opened at record highs on Friday, boosted by Walt Disney and tech-related shares, while signs of cooling inflation and a strong recovery in corporate…
Banks Take Steps To Reduce Potential Cloud Computing Risks, Google Survey
Banks are taking steps to mitigate risks from their increasing use of external cloud computing services, a survey by Harris Poll and Google Cloud (GOOGL.O) said on Thursday. The Bank…
Analysis: As Fed Shifts Gears, Shaping Consensus Gets Trickier For Powell
In his nearly six years on the Federal Reserve’s board of governors before becoming its chair, Jerome Powell never once cast a dissenting vote on monetary policy. That doesn’t mean…
Italy Gets 25 Billion Euros In First Tranche Of EU Virus Recovery Fund
Italy on Friday received 24.9 billion euros ($29.3 billion), its first tranche of money from the 800 billion euro EU Recovery Fund, aimed at helping the bloc rebound from the…
Markets No Longer Fear Inflation And Stocks Will Continue To Rally, HSBC says
Markets no longer fear inflation and are now focused on the spread of the delta Covid-19 variant, according to HSBC Wealth Management. In a note Thursday, Chief Investment Officer Xian…
FinTech Raises N11.5bn Series ‘A’ Funding To Address Vehicle Financing Gap In Africa
Moove, an African mobility fintech, has raised $23 million Series ‘A’ funding, led by Speedinvest and Left Lane Capital, with participation from DCM, Clocktower Technology Ventures, among others. This brings…
Instagram Unveils New Tools To Reduce Abuse, Racist Comments
Instagram on Wednesday announced new measures to curb abusive and racist content on the image-centric social network, following an onslaught of hateful comments directed at UK footballers after the Euro…
Computer Security Firm Norton Buys Avast For Over $8bn
US cybersecurity giant NortonLifeLock is to buy Czech rival Avast for over $8 billion to create a leading consumer business, the pair announced Wednesday after the pandemic fuelled online activity.…
Experts Weigh Costs As Federal Government Plans To Unban Twitter
The Federal Government has hinted at a possible resolution to the suspension of micro-blogging platform, Twitter in Nigeria. Minister of Information and Culture, Lai Mohammed, disclosed this while briefing newsmen…
Pension Assets To Hit N20trn In 2023 –Agusto & Co
The Nigerian pension industry’s net assets will hit the N20 trillion mark by 2023, recording an average growth rate of 18 per cent, credit rating agency, Agusto & Co has…
Federal Government Of Nigeria Okays $2.5m, N498.2m For Four Power Projects
The federal government has approved a total sum of $2.54 million and N498.23 million for four power projects across the country. This is just as it also okay the interim…
Singapore To Deepen Investments In Nigeria, Others
Singapore is looking at deepening its economic ties with Nigeria and other West African countries as its enterprises promise to increase investments in key sectors in the region. Regional Director,…
Federal Government Reintroduces Toll Plazas, Nigerians To Pay N500, N200 Per Trip
The Federal Executive Council has approved the reintroduction of toll collections on some selected dual carriageways across the country. This is as it exempted diplomatic, military, para-military vehicles, tricycles, motorcycles…
The Securities and Exchange Commission (SEC), African Development Bank (AfDB) Commence Implementation Of Risk-Based Supervision Project
The Securities and Exchange Commission (SEC) and African Development Bank (AfDB) have commenced the implementation of the regulatory capacity improvements under the risk-based supervision framework and capacity building project. The…
The Nigerian Exchange Limited(NGX) Sustains Bullish Profile As Index Inches Further By 0.7 Per Cent
The Nigerian Exchange Limited (NGX) sustained rising profile, as more blue-chip stocks appreciated at price, resulting to a further increase in the All-share index by 0.7 per cent. At the…
Asia-Pacific Stocks Mostly Decline; Samsung Shares Fall As Heir Lee Is Released From Prison
South Korean and Taiwanese stocks led losses among major Asia-Pacific markets in Friday trade, with shares of firms related to conglomerate Samsung falling. The broader Kospi in South Korea closed…
Breaking Society Apart’: Unvaccinated People Are Angry As They Face More Covid Restriction
The divide between the vaccinated and unvaccinated when it comes to Covid-19 is likely to become even deeper, with officials in the U.S. and Europe planning, or introducing, an increasing…
China’s Zero-Covid Policy Is So Strict That It Shut Down A Whole Shipping Terminal After Just One Case
China has shut down a key terminal at its Ningbo-Zhoushan port, the third busiest port in the world, after one worker was found to be infected by Covid — a…
It Just Got Harder And Less Profitable To Mine For Bitcoin As Algorithm Adjusts
It just got harder and less profitable to mine for bitcoin. Every 2016 blocks, or about every two weeks, bitcoin resets how tough it is for miners to mine. Early…
Treasury Yields Fall Following Mixed Economic Data
U.S. Treasury yields fell on Friday morning, following mixed economic data in the previous session. The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.341% at…