Crude Oil Prices At $100 Per Barrel Amid Declining United States Oil Stockpiles.
Oil prices remained stable as fears over weakening demand outweighed news from the industry; that revealed a larger-than-anticipated reduction in…
Author: akintunde
FG Shuts Oil Firm Over Illegal Offshore Operations- Nigeria.
THE Federal Government has shut down Scorpion Oil Services for carrying out offshore operations without approval and also violating the…
Russia-Made Goods Replacing Imports On The Country’s Shelves, Nielsen Says.
Russia-made products accounted for 83% of the country’s market for common consumer goods in the first half of 2022, up…
Russia Fines Google $34 Mln For Breaching Competition Rules.
Russia’s competition watchdog fined Alphabet’s Google (GOOGL.O) 2 billion roubles ($34.2 million); for abusing its dominant position in the video hosting market,…
Central African Republic’s Digital Coin Finds Few Buyers.
The sale of Central African Republic’s first digital coin got off to a slow start; with just over 5% of…
Indonesia Says Mitsubishi Motors To Invest About $667 Million Over Next Three Years.
Mitsubishi Motors Corp (7211.T) plans to invest about 10 trillion rupiah ($666.89 million) in Indonesia. This will be between 2022 and 2025,…
Remy Confident After China Sales Rebound In June.
Remy Cointreau (RCOP.PA) said it was confident over prospects for its current financial year. This was after first-quarter sales beat expectations and…
U.S. Retailers Tumble After Walmart Cuts Profit Forecast.
A profit warning by Walmart (WMT.N) ignited a sell-off in shares of major U.S. retailers late, quickly evaporating over $100 billion in…
Zenith Bank Retains Position In Banking Award.
Zenith Bank Plc has been rank as the number one bank in Nigeria by Tier-1 Capital in the 2022 Top…
Companies May Collapse Over Energy And Currency Crisis.
An economist, Bismark Riwane, and other experts have predicted that the high cost of power and diesel will lead to…
Amazon To Raise Prime Prices In Europe As Retailer Wrestles With Costs.
Amazon.com Inc (AMZN.O) will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year, the…
3M To Spin Off Healthcare Business.
3M Co (MMM.N) said the industrial giant plans to spin off its healthcare business and will retain a stake of 19.9% in…
UK Retailers Downbeat About Outlook For August – CBI.
British retailers are downbeat about the outlook for August as the cost-of-living squeeze weighs on demand. Despite a relatively modest…
KPMG Escapes Record Fine Over Carillion, Regenersis Audit Checks.
KPMG was to pay 14.4 million pounds after the accounting firm admit to providing false information. To its regulator during…
Tesla Raises Spending Plan, Discloses New Subpoena On Musk’s 2018 Tweet.
Tesla Inc (TSLA.O) has increased its capital spending plan by $1 billion, the electric automaker said in a regulatory filing; that also…
Cryptoverse: Venture Capitalists Bet Big On Crypto.
It’s not all doom and gloom. Even as the crypto sector shivers in the bleak winter, venture capitalists are pouring…
FG Reiterates Commitment To 2030 Renewable Energy Target-Nigeria.
The Minister of State for Power, Mr Goddy Jedy-Agba, has reiterated the Federal Government’s commitment; to the 2023 sustainable energy target. The…
Nigerians In Diaspora Contribute 4% Of GDP.
The Vice-chair, Chartered Institute of Personnel and Development, South London Branch, United Kingdom, Mr. Dayo Olomu, has said that Nigerians…
Asia Shares Increase As A Fed Rate Hike Approaches.
Asian shares pared losses as investor sentiment improved on China’s reported plans to tackle a debt crisis in real estate…
China Belt & Road Spending Dips In H1, With No Investment In Russia.
China’s finance and investment spending in Belt and Road countries fell in the first half compared to a year earlier.…
Bank Of Japan Board Reshuffle Brings In Less Dovish Member.
The Bank of Japan has reshuffled its board and brought in a new member seen as more keen to end…
Rogers To Invest C$10 Billion In AI, Testing After Massive Outage.
Rogers Communications Inc (RCIb.TO)said it will invest C$10 billion ($7.74 billion) over the next three years in Artificial Intelligence; and…
Britain’s M&S Seeks Food Supply Chain Control With $173-Mln Gist Buyout.
British retailer Marks and Spencer (MKS.L) said it would acquire its key logistics services provider Gist Ltd for 145 million…
U.S. Business Activity Contracts In July For First Time In 2 Years, Survey Shows.
U.S. business activity contracted for the first time in nearly two years in July. As a sharp slowdown in the…
According to SundaysZeitung, Credit Suisse Plans To Make More Cost cuts.
Credit Suisse (CSGN.S) is considering how it could cut costs further after a dismal performance by the embattled bank in…
Shanghai Bourse Vows Market Stability Before Communist Party Congress.
The Shanghai Stock Exchange (SSE) vowed over the weekend to maintain market stability; ahead of the politically significant 20th Party…
Stocks Decline As Growth Risks Weaken Confidence; Demand For Bonds, Dollar.
Asian stocks lost ground, retreating from over three-week highs as worries about a global economic downturn sapped investors’ risk appetite.…
Cargill, Continental Close U.S. Chicken Deal.
Cargill and Continental Grain Co said that they had closed their deal to buy Sanderson Farms Inc (SAFM.O). This is…
In Argentina, Financial Risks Deepen Along With Investor Jitters.
Argentina’s debt sank deeper into distressed territory, in just the latest week of sour financial news. This highligted growing doubts…
The U.S. ITC Opens An Investigation Into The Trading Of Specific Fabrics With South Korea.
The U.S. International Trade Commission said it has launched an investigation related to the possible impact on the trade of…