Real Time Financial News Website
Following the failure of several palliatives to strengthen both Niger Insurance Plc and Standard Alliance Insurance. The National Insurance Commission (NAICOM) has revoked their licenses, weeding them off the market.…
Elon Musk just passed the 100 million follower mark on Twitter. This made him the sixth user on the platform to reach a nine-digit follower count. Musk hit the milestone…
The U.S. Federal Trade Commission it sued Walmart Inc (WMT.N), alleging the company had done too little to prevent scam artists. This was from using its money transfer services for…
The rouble rallied past 52 against the dollar to a more than a seven-year high on Tuesday as capital controls. Also the month-end taxes offset the negative impact of Western…
The dollar slipped against most major peers as a decline in U.S. yields took some of the sheens off the currency. This is with investors mulling the risk of a…
South Korean battery maker LG Energy Solution Ltd (LGES), a major supplier to U.S. carmakers, including Tesla (TSLA.O). They are reassessing a $1.3 billion investment plan, for an Arizona factory…
Aeromexico said on Tuesday that a majority of its shareholders approved a proposal to exit the main Mexican stock exchange. This is as a part of the airline’s bankruptcy restructuring.…
Tesla (TSLA.O) has shuttered its office in San Mateo, California, and laid off roughly 200 employees. Especially those working on its Autopilot driver-assistant system there, in a move seen as…
The NGX closed on a positive note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 31 basis points. The NGX ASI closed at 51,803.98 points to…
South Korean export growth is expected to have rebounded in May, but the trade balance likely remained in red, while consumer inflation is seen rising above 5% for the first…
Africa’s Global Bank, the United Bank for Africa Plc, has rewarded its loyal customers in its UBA Super Savers draw with N16.6m cash prizes. The computerised draw held at the…
The Association of Corporate Trustees has said that trustees play a relevant role in; ensuring capital market investment protection in the country. The association disclosed this during a presentation titled’…
Russia’s failure to pay $1.9million in accrued interest on a dollar bond will trigger payouts potentially worth billions of dollars. A panel of investors determined, as the country teeters on…
Findings have shown that electricity tariffs increased by 58% after the Federal Government yanked off a yearly subsidy of N500bn to the power sector. The document titled, ‘Analysis of the…
Britons are shifting to cheaper food alternatives in their supermarket shopping as they try to navigate a worsening cost of living crisis. Market researcher NielsenIQ said that over the four…
Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on Tuesday. To date only a few large Japanese companies have…
Japan’s Nissan Motor Co Ltd (7201.T) on Tuesday rejected a shareholder proposal at its annual general meeting (AGM) that would have led to the disclosure of a decades-old agreement with…
Asian shares swung into positive territory in afternoon trade, propelled by China’s decision to ease some quarantine requirements for international arrivals; with Hong Kong stocks particularly supported. MSCI’s broadest index…
China will roll out tools in its policy reserve in a timely way to cope with more economic challenges; as COVID-19 outbreaks and risks from the Ukraine crisis pose a…
Ericsson (ERICb.ST) said the closing of its $6.2 billion Vonage acquisition was delayed to the end of July. From the first half of the year, due to a pending investigation…
Finnish elevator maker Kone (KNEBV.HE) said it will sell its business in Russia to local management for an undisclosed amount. The firm had already reduced its activities after Russia’s invasion…
Buy and hold, maximum long. That has basically been the strategy for commodity hedge funds for the last couple of years; but it is fast losing its luster. Crude oil,…
The war in Ukraine is making it hard for even unsanctioned Russians to sell exclusive residential property in Britain. Adding to a shortage of supply that has helped drive up…
Leading conglomerate, PZ Cussons Nig Plc, released its Q4 2021/22 unaudited results for the period ended May 31, 2022. Reporting a profit of N758.37 million, representing an 11.71% increase year…
The Nigerian Government has decided to clamp down on filling stations selling Premium Motor Spirit (PMS); above the N165 agreed pump price as Nigeria’s fuel scarcity lingers for another week.…
Investors in MTN’s Public Offer for Sale conducted in December 2021 have gained an estimated N35 billion; since the offer closed last year. The company listed its public offer price…
The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit; popularly called petrol, consumed in Nigeria is currently above N600- oil sector operators. Also,…
Electricity distribution companies’ payment to generation companies for electricity generation has dropped by 50%; according to industry data obtained by our correspondent. The statistics showed that DisCos were unable to…
Saro Group of Companies has invested not less than N24bn in an integrated farm in Edo State; in a concerted effort to boost local production of raw materials for use…
Shifting political winds during the U.S. November mid-term elections could spell trouble for automakers’ hopes of getting billions of dollars in consumer tax credits. That would help the United States…