Europe World EU Fines Apple $2 Billion for App Store Antitrust Violation March 4, 2024 Ekemini Uba Brussels levied a historic fine of 1.84 billion euros ($2 billion) against Apple (AAPL.O) on Monday, marking the tech giant’s first-ever antitrust penalty from the European Union. The fine stemmed…
World EU Countries Split Over Support for Nuclear Energy March 4, 2024 Ekemini Uba Divergent views on nuclear energy policy among European Union member states were on display Monday, with France spearheading one camp advocating for nuclear technology while Austria and Germany led another…
World Valero Joins Summit’s Carbon Capture Project March 4, 2024 Ekemini Uba Valero Energy Corp (VLO.N) has partnered with Iowa-based Summit Carbon Solutions in its proposed carbon-capture and storage project, as announced by the private company on Monday. Valero intends to transport…
World EU Pushes for Fossil Fuel Industry Contribution to Climate Finance March 4, 2024 Ekemini Uba The European Union (EU) is poised to advocate for the fossil fuel industry to contribute to funding efforts aimed at combating climate change in poorer countries, according to a draft…
World Blackwells Capital Calls for Stronger Strategy, Disney Seeks Board Seats March 4, 2024 Ekemini Uba Investor Blackwells Capital has highlighted concerns over Walt Disney’s performance, citing the lack of a robust content and technology strategy, as well as governance and transparency issues. The investment firm…
Europe Investing Exor Acquires 10.1% Stake in Clarivate, With Potential Increase to 17.5% March 4, 2024 Ekemini Uba Italy’s Agnelli family, through its investment arm Exor, has acquired a 10.1% stake in Clarivate, a New York-listed information services provider. The companies announced on Monday that Exor has the…
Trade World U.S. Funding Legislation Blocks China from Buying Oil from Strategic Petroleum Reserve March 4, 2024 Ekemini Uba The funding legislation introduced by congressional leaders on Sunday includes a provision to prevent China from purchasing oil from the Strategic Petroleum Reserve (SPR). This measure reflects a bipartisan consensus…
Banking Local FCMB Charges Accountants on Transparency March 4, 2024 Ekemini Uba The Managing Director of First City Monument Bank (FCMB), Mrs. Yemisi Edun, emphasized the importance of sustainability accounting during her keynote address at the Western Zone Conference of the Institute…
Local FCT residents loot NEMA warehouse March 4, 2024 Ekemini Uba Residents of the Federal Capital Territory (FCT) reportedly looted a warehouse belonging to the National Emergency Management Agency (NEMA) due to prevailing economic hardship in the country. The warehouse, located…
Local Lagos State to Implement Monthly Rental Scheme by End of 2024 March 4, 2024 Ekemini Uba Barakat Odunuga-Bakare, the Special Adviser to the Lagos State Governor on Housing, announced plans to enforce the state’s monthly rental scheme by the end of 2024 or early next year.…
Business Local Qatar Airways and Access Bank to Offer Flight Discounts Across Africa March 4, 2024 Ekemini Uba Qatar Airways has joined forces with Access Bank to provide discounts on flights to the bank’s customers across Africa. According to a statement released on Friday, the airline will extend…
Business World NICA Advocates for Inclusive Credit System for Students March 4, 2024 Ekemini Uba The National Institute of Credit Administration (NICA) has urged for the establishment of a credit system that extends access to students and participants in the informal sector, facilitating education and…
Business Market Equity Market Investors Lose N1.55tn March 4, 2024 Ekemini Uba In February, investors in the Nigerian equity market suffered significant losses amounting to approximately N1.55 trillion due to the allure of high yields in the fixed-income market. At the start…
Local Africa Prudential Plc Appoints First Female CEO March 4, 2024 Ekemini Uba Africa Prudential Plc, the pioneering registrar listed on the Nigerian Exchange, has named Catherine Nwosu as its first female Chief Executive Officer, effective March 1. Nwosu’s appointment follows her extensive…
Local Senate to Probe N30tn Loan Spent by Buhari’s Administration March 4, 2024 Ekemini Uba The Senate has announced plans to question officials from the Central Bank of Nigeria (CBN) regarding the utilization of the N30 trillion Ways and Means loan obtained by the Federal…
Business Local African Share of Global Trade Remains Below 3%: Report” March 4, 2024 Ekemini Uba According to a report assessing progress on regional integration in Africa by the Economic Commission for Africa (ECA), the continent’s share of global trade remained below three percent in 2023,…
Local EFCC Uncovers Fresh N17bn Fraud Linked to Ministry of Humanitarian Affairs March 4, 2024 Ekemini Uba Allegations of fraud within the Federal Ministry of Humanitarian Affairs, Disaster Management, and Social Development continue to escalate as the Economic and Financial Crimes Commission (EFCC) investigating the issue has…
Breaking BREAKING: MTN Nigeria Incurs N740 Billion In Forex Losses, Shareholders Funds Wiped Out March 1, 2024 Ekemini Uba MTN Nigeria Plc has recorded a significant loss before tax amounting to N177.8 billion, attributing the losses to a substantial foreign currency loss of N740 billion. The company’s shareholders’ funds…
Breaking Business Forex Crisis: FG Slaps $10 Billion Fine on Binance March 1, 2024 Ekemini Uba The Federal Government has imposed a $10 billion fine on cryptocurrency platform Binance, accusing it of exacerbating Nigeria’s forex crisis. According to Bayo Onanuga, special adviser to President Bola Tinubu,…
Africa Zambia Plans to Import and Ration Electricity Due to Drought March 1, 2024 Ekemini Uba Zambia is grappling with a severe drought crisis, prompting President Hakainde Hichilema to announce plans to import and ration electricity, as the dry spell significantly affects hydropower generation, the country’s…
Africa Energy Ghana’s Parliament Faces Power Cut Over Unpaid Debt March 1, 2024 Ekemini Uba Ghana’s state-run electricity provider, ECG, took the drastic step of briefly cutting off power to the parliament building, aiming to pressure lawmakers into settling a 23 million Ghanaian cedi ($1.8…
Business World India’s Rice Output to Drop for the First Time in 8 Years- Govt March 1, 2024 Ekemini Uba India anticipates a decline in rice production for the first time in eight years during the 2023/24 season due to below-average rainfall, as stated by the government. The dip in…
Local Tesla Rolls Out New Incentives in China as Price War Escalates March 1, 2024 Ekemini Uba Tesla has unveiled new incentives, including insurance subsidies, in a bid to attract consumers in the world’s largest auto market, where it faces stiff competition from established rivals like BYD.…
Investing World Investors Await UK Spring Budget Amid Election Speculation March 1, 2024 Ekemini Uba As Britain anticipates its Spring budget set for the upcoming Wednesday, investors closely monitor Finance Minister Jeremy Hunt’s balancing act between economic stimulus and fiscal prudence against the backdrop of…
Technology World Facebook Owner Meta Angers Australia with Plan to Stop Paying for News Content March 1, 2024 Ekemini Uba Meta Platforms, formerly known as Facebook, announced its decision to halt payments to Australian news publishers for content appearing on its platform, reigniting tensions with Canberra. Both news publishers and…
World Disney Founders’ Grandchildren Back CEO Bob Iger Against Activist Investors March 1, 2024 Ekemini Uba The grandchildren of Walt and Roy Disney, founders of Walt Disney Co (DIS.N), have voiced their support for CEO Bob Iger and the company’s board, while opposing activist investors seeking…
Local Maritime MainOne Lands 2Africa Subsea Cable in Akwa Ibom State March 1, 2024 Ekemini Uba MainOne, in collaboration with 2Africa, has successfully installed the 45,000-kilometre subsea cable system in Akwa Ibom State, Nigeria. This initiative aims to bridge connectivity gaps by linking Akwa Ibom and…
Local OPay Urges Customers to Link BVN or NIN to Accounts March 1, 2024 Ekemini Uba OPay, a financial services firm, has called on its customers to comply with the Central Bank of Nigeria’s directive by completing the regularization of their accounts. Customers are required to…
Business FRC to Enforce Stricter Codes for Accounting Professionals March 1, 2024 Ekemini Uba The Financial Reporting Council (FRC) has issued a stern warning, indicating its intent to hold accounting professionals and companies accountable for any breaches of its governance codes. Effective immediately, the…
Local Trade Rand Merchant Bank optimistic about $11bn Indo-Nigeria trade March 1, 2024 Ekemini Uba Rand Merchant Bank (RMB) highlights the promising prospects of trade between Nigeria and India, estimated at $11.8 billion, following the recent India-Nigeria Business Forum in Abuja. Dr. Doris Uzoka-Anite, Nigeria’s…
