Oil Rises On Prospects Of Less Aggressive U.S. Rate Hike
Oil prices rose amid prospects of a less aggressive U.S. rate hike; although worries about a recovery in demand capped…
Year: 2022
TomTom’s Quarterly Loss Widens As Inflation, Supply Chain Issues Weigh.
Dutch navigation and digital mapping company TomTom (TOM2.AS) reported worse-than-expected loss for the second quarter, citing high inflation and strained…
Stocks Stumble As China Slowdown Rattles Investors
Asian stocks fell to a two-year low and were heading for a weekly loss; while they set the dollar for…
S&P 500, Dow Close Lower After Bank Earnings, Inflation Data.
The S&P 500 (.SPX) pared early losses to close modestly lower, after investors digested disappointing quarterly results from two large…
Alibaba Shares Fall On Report Of China Probe Over Data Theft.
Shares in Alibaba Group Holdings Ltd (9988.HK) fell 5.7% after the Wall Street Journal reported that the Chinese tech giant’s…
Handelsbanken’s Q2 Profit Misses Forecasts On Hedging Loss
Swedish bank Handelsbanken reported its second-quarter profit well below forecasts; after a downturn in capital markets triggered a loss on…
Uniqlo Owner’s Shares Reach 2022 High On Profit Forecast, Yen.
Fast Retailing shares surged to the highest level this year in Tokyo trading after the owner of clothing brand Uniqlo…
Morgan Stanley Profit Slumps 30% As Deals Stall, Recession Risks Rise.
Morgan Stanley’s second-quarter profit slumped 30%, it reported, falling short of analysts’ estimates for the first time in nine quarters;…
China C.Bank Keeps Medium-Term Policy Rate Unchanged For A Sixth Month
China’s central bank stood pat on its medium-term policy rate for a sixth straight month; as expected, with investors believing…
Deutsche Bank’s International Private Bank hires 4 bankers in Americas
Deutsche Bank’s International Private Bank hired four bankers in the Americas, according to an internal memo seen by Reuters. The…
China’s Economy Brakes Sharply In Q2, Global Risks Darken Outlook
China’s economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns; and…
Chocolate Factory To Restart Production After Salmonella Scare – Barry Callebaut
Barry Callebaut said that it would restart the first chocolate production lines as of early August; at its factory in…
UK Court Allows Civil Case Claimant To File NFT Legal Documents
Non-fungible tokens (NFTs) have found a way into the British legal system; weeks after a similar development in the United…
Major Crypto Lender Celsius Files For Bankruptcy
Crypto lender, Celsius Network said it had filed for bankruptcy in New York, becoming the latest victim in the cryptocurrency…
Lagos To Launch New Electronic ID Card for Residents
Lagos State Government is set to roll out smart i.d cards for residents of the State through the LSRRA The…
Investors Selling Off Investments In Oil Futures Over Recession Fears
Hedge fund managers are selling off oil futures amid fear that projected recession could cause demand for the commodity to…
Netflix Has Named Microsoft As Partner For Its Ad-Supported Service
Netflix has named Microsoft as its partner for its ad-supported service, the companies announced Wednesday. The “Stranger Things” streamer, which has been struggling…
Fidson Plans N1 Billion Dividend Bonus Shares For Shareholders
Fidson Healthcare sets to pay shareholders over N1 billion in dividends and also issue them one new share for every…
UK Lenders Expect Biggest Fall In Mortgage Demand Since Q2 2020
British lenders expect the biggest fall in demand for mortgages since mid-2020 during the three months to the end of…
More Than 500 Women Sued Uber Over Sexual Assault Claims
Uber is being sued by more than 500 women who claim they were assaulted by drivers who use the ride-hailing platform.…
Telecom Giant MTN, BOI Offers Training And Grants Worth N2 Million To Female Entrepreneurs
Nigeria’s Bank of Industry and telecoms company, MTN, have announced a business initiative that will train female entrepreneurs and provide them…
CBN To Introduce USSD Code To Improve E-Naira
The Central Bank of Nigeria says it is set to introduce the USSD code as part of steps to improve the…
Nigerian Stocks In Seventh Day Of Flat Trade Despite Improved Transaction Volume
Nigerian stocks inched up 0.02 percent on Wednesday, marking one week of flat trade that has seen the benchmark index recording little…
Banks’ Borrowings From CBN Hits N595.34bn In Two Months
The Central Bank of Nigeria (CBN) through its Standing Lending Facility in two months, lent to commercial banks a total…
41 Million Get NINs To Escape SIM Ban.
Over 41.59 million Nigerians have obtained their National Identification Numbers; since the Federal Government first banned the sales of SIM…
Neimeth Moves To Float N3.67bn Rights Issue
Neimeth International Pharmaceuticals Plc held a completion board meeting in Lagos; to float a rights issue of N3.67bn through the…
Why 100 Basis Point Interest Rate Hike Spells Doom For Bitcoin And Crypto Market.
The Federal Reserve is to raise interest rates by 100 basis points. Which would be the biggest rise since it…
NNPC Blocks Exxon Mobil’s Asset Sale To Seplat-Nigeria.
THE Nigerian National Petroleum Company Limited has won a court decision temporarily blocking Exxon Mobil Corporation; from selling assets in…
Anambra Traders Lament New Tax Regime.
TRADERS at various markets in Anambra State, particularly Eke Awka market in Awka South Local Government Area; are lamenting the…
Bear Curve Flattening Underway, Public Debt Rises In Q1 2022 And Corporate Tax Collections Accelerate To 7-Year Highs.
Mixed trends along the curve as short-term rates rise while long-dated bonds recline; The divergent trends along the Naira yield curve…