Sterling Hovers Near Recent Lows, Unmoved By Inflation Slowdown
Sterling hovered near a 3-1/2-week low on Wednesday after UK inflation data showed a sharper slowdown than expected. The pound…
Category: Business
Nigeria’s Economy May Grow To 2.5% In 2021, 2.6% In 2022, IMF Predicts
The International Monetary Fund (IMF) has maintained an unchanged economic growth rate of 2.5 per cent for 2021 and 2.6…
Forex – Labour Advocates Improved Monetary, Fiscal Policies
The leadership of Association of Senior Civil Servants of Nigeria (ASCSN) has called on federal government to take necessary measures…
Nigeria’s Foreign Reserves To Surpass $40bn By September –Experts
Against the backdrop of a $3.35 billion direct allocations approved by the International Monetary Fund (IMF), financial experts have observed that…
S&P 500, Dow Edge Lower Ahead Of Fed Minutes
The S&P 500 and the Dow inched lower in choppy trading on Wednesday as investors refrained from making big bets…
Big-Ticket Spenders Boost Lowe’s Sales, Shares Jump
Lowe’s Cos Inc (LOW.N) said on Wednesday that professional builders and handymen were rushing back to its stores, boosting sales at a…
U.S. Senators Urge FTC To Probe Tesla Over Self-Driving Claims
Two U.S. senators on Wednesday pressed the Federal Trade Commission (FTC) to probe Tesla (TSLA.O), saying the company has misled consumers…
TY Holdings Acquires 72% Stake In BOC Gases Nigeria
TY Holdings Limited yesterday announced to investing public that it has acquired 72 per cent stake in BOC Gases Nigeria…
Mortgage Rates Hit Their Highest Level In A Month, And Weekly Demand Drops
Borrowers backed away from the mortgage market last week, as higher interest rates chilled a recent revival in refinances. The…
Chinese Tesla Rival Xpeng Expands Production Capacity As Competition Heats Up
Chinese electric carmaker Xpeng is doubling the production capacity at one of its key plants as competition heats up. Xpeng said it…
Huawei Will Return To Smartphone Throne’ Despite Crippling Sanctions, Chairman Says
Huawei Technologies’ (HWT.UL) chairman said while U.S. sanctions have choked its smartphone business, it will not give up and plans…
Woodside Investors Jittery On Petroleum Merger, BHP Falls On Listing Change
Shares in BHP Group Ltd. (BHP.AX) and Woodside Petroleum fell on Wednesday as investors digested details of the Perth-based oil and gas…
Analysis: As Investors Look To Jackson Hole, Options Markets See ‘A Lot Of Nothing’
Traders in U.S. equity options do not expect the Federal Reserve’s symposium in Jackson Hole, Wyoming later this month to…
Yuan’s Global Use Faces A Test As Xi’s Reforms Rattle Markets
The Chinese yuan has been making inroads in the world of cross-border payments in recent years, but a pair of…
Forex: Labour Backs CBN, Makes Case For Manufacturers
Following the current foreign exchange squeeze being experienced in the country, organised labour, under the aegis of Association of Senior…
Pound Hits 3-Week Low Vs Dollar As Risk Appetite Weakens
Britain’s pound hits its lowest level in three weeks against the dollar on Tuesday as weakening risk sentiment weighed on…
Govt To Borrow N5.62trn For 2022 Budget Deficit
The federal government has submitted a proposal to borrow N5.62 trillion to finance the budget deficit in the 2022 budget.…
Labour Seeks Special Allocation Of Forex To Manufacturers
Organised Labour has pleaded with the Federal Government to devise a special arrangement to ensure that foreign exchange, forex, is…
2022 Budget: FG Crashes Capital Expenditure, Despite Higher Earnings
The Federal Government’s fiscal operations in 2022 is set for contraction, despite higher oil earnings and earnings from increased exchange…
Oil Rises On Bargain-Hunting, Expectations That OPEC+ Will Not Boost Supply Soon
Oil prices rose on Tuesday, recovering from the previous day’s losses, as investors sought bargains and on expectations that major producers…
Nigerian Equities Beat Global Stocks With N371b Gain
Nigerian equities closed weekend upbeat ahead of other major global stock markets with increased demand for Nigerian shares fuelling a…
Flee From Investments With Unrealistic Returns—SEC Warns Nigerians
For the umpteenth time, Nigerians have been warned to flee from investments that promise to offer them unrealistic returns as…
India’s July Palm Oil Imports Plunge 43%, Says Trade Body
India’s July palm oil imports plunged 43% from a year earlier to their lowest in five months, a leading trade…
Tesla Expands Legal, External Relations Workforce In China
Tesla Inc (TSLA.O) is hiring managers for legal and external relations teams in China, according to a job post on its Wechat…
EV Startups Hunt For Low-Cost Roads To Mass Production
Electric car and van startups racing to become the next Tesla Inc (TSLA.O) all want to avoid Elon Musk’s journey through “manufacturing…
Home Depot’s U.S. Sales Slow As DIY Frenzy Tapers Off
Home Depot Inc (HD.N) on Tuesday fell short of U.S. same-store sales estimates for the first time in nearly two years, as…
Walmart Raises Forecast As People Return To Stores; Online Sales Slow
Walmart Inc (WMT.N)increased its annual U.S. same-store sales forecast after beating analysts’ estimates on Tuesday, as shoppers coming out of lockdown…
Automobile Shortages Weigh On U.S. Retail Sales
U.S. retail sales fell more than expected in July as shortages weighed on purchases of motor vehicles, suggesting a moderation…
ECOWAS Fixes January 2025 Deadline For Adoption Of Cleaner Fuels
Member countries of the Economic Community of West African States (ECOWAS) have set a January 2025 deadline for the adoption…
Economic Outlook Getting Better, Adedipe, Others Claim
Chief Consultant of B. Adedipe Associates Limited, Dr. Biodun Adedipe and Director, Monetary Policy Department of the Central Bank of…