South Africa’s Unemployment Rate Jumps To New Record High
South Africa’s unemployment rate jumped to a record high in the fourth quarter of last year, the statistics agency said…
Category: Business
BlackRock Downgrades Government Bonds, Keeps Faith With Stocks
The world’s largest asset manager BlackRock has cut its stance on government bonds, preferring equities in light of the COVID-19…
European Shares Gain On Higher Commodity Prices; HSBC Weighs
European shares rose on Tuesday as strong commodity prices helped outweigh mixed corporate earnings updates, while British bank HSBC fell…
Facebook To Unban Australia News After Deal On Media Law
Facebook moved to lift a contentious ban on Australian news Tuesday, after a last-gasp deal on landmark rules requiring tech…
iPhone 12 Sales Propel Apple To Top Of Smartphone Market: Survey
Strong sales of iPhone 12 models lifted Apple to the top of the global smartphone market in the fourth quarter,…
Bitcoin Battles For Support At $50,000
Bitcoin dropped below $50,000 on Tuesday, as investors began to get a little nervous about the digital currency’s lofty valuation…
Oil To Hit $70 In Second Quarter
Goldman Sachs Group Inc. has raised its price estimates and is predicting that Brent will reach $70 a barrel in the…
Crypto-Trading May Go The Way Of Multiple Exchange Rates – Analysts
Like Nigeria’s multiple exchange rates which the Central Bank of Nigeria (CBN) has battled to converge in the last five…
UK Jobless Rate Hits 5.1% As Sunak Readies More Job Support
Britain’s jobless rate rose to 5.1% in the last three months of 2020, its highest in nearly five years but…
Jay-Z Sells Half His Champagne Brand To LVMH’s Moet Hennessy
Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday the purchase of a 50% stake in…
Dollar Pinned Near Six-Week Low As Focus Turns To Powell
The dollar nursed losses near a six-week low on Tuesday while commodity currencies loitered around multi-year highs, as investors’ focus…
Britain’s G4S Recommends $5.4 Billion Allied Universal Bid, Ending Takeover Tussle
Private security firm G4S on Tuesday recommended shareholders vote for Allied Universal’s final offer valuing the British firm at 3.8…
HSBC Curbs Profit And Payout Ambitions, Targets Asia Wealth
HSBC Holdings PLC on Tuesday abandoned its long-term profitability target, and unveiled a revised strategy focused mainly on wealth management…
Exclusive: South African Upstart Bank Teams Up With JG Summit To Expand Into Philippines
South African digital bank Tyme has raised $110 million in private capital and linked up with JG Summit, one of…
WhatsApp Goes On Charm Offensive, Takes Shot At Telegram
Ahead of the release of an updated privacy policy that allows Facebook and its companies access to certain levels of…
Alleged 69.4bn Debt: Court Vacates Order Against Jimoh Ibrahim’s Assets
The Federal High Court, Abuja, on Monday, set aside the interim order through which the Asset Management Corporation of Nigeria…
ICT Drove Economic Growth In 2020, Says Pantami
The Minister of Communications and Digital Economy, Dr Isa Pantami, has said the Information and Communications Technology sector recorded the…
Investors Kick Against Concession Of Lagos Trade Fair Complex
An umbrella body for the 61 investors that secured different development lease agreements from the Federal Government through the Ministry…
Insurance Sector’s Assets Hit N1.82tn On Recapitalisation Deadline
Despite the impact of COVID-19 pandemic on the economy, the insurance industry attracted some investments that boosted its assets, investigation…
With Rising Poverty, Unemployment, Nigeria Sitting on Time Bomb
The Financial Derivatives Company Limited (FDC) has stressed that Nigeria’s high unemployment (27.1%), its large youth population, as well as…
Private Investors Fault Central Bank Of Nigeria’s N50Bn Injection Into Commodity Exchange
Private investors in commodity exchanges have faulted the plan by the Central Bank of Nigeria (CBN) to inject N50 billion…
Economic Recovery: Beneath The Wobbly Growth
As predicted, the economy has exited recession. But as expected also, at 0.11 per cent, the growth is fragile –…
Buhari Sets Record As Nigerians Grow Poorer For Sixth Straight Year
At no point in its 60-year history has Nigeria’s economy expanded slower than its population for a longer period than…
Shareholders Approve Chemical Allied Product, Portland Paints Merger
Shareholders of Chemical and Allied Products (CAP) Plc and Portland Paints and Products Nigeria (PPPN) Plc have approved the merger…
Will Bill Gates Go Back To Shaking Hands? Hear His Thoughts
As more and more Americans receive the Covid-19 vaccine, CNN’s Anderson Cooper asks Bill Gates if, one year from now, he would…
British Airways Owner IAG Says Pensions Deal, Loan Help Boosts Liquidity
British Airways-owner IAG said on Monday it had raised total liquidity by 2.45 billion pounds ($3.4 billion) by deferring pension…
Saudi Defence Firm SAMI Targets $5 Billion Annual Revenue By 2030
State-owned Saudi Arabian Military Industries (SAMI) aims to generate annual revenue of $5 billion by 2030, its chief executive said…
Texas Utilities Can’t Stick Customers With Huge Bills After Storm: Abbott
Texas utility regulators will temporarily ban power companies from billing customers or disconnecting them for non-payment, after the deadly winter…
World Shares Sink As Bond Yields, Commodities Surge
World shares sank on Monday as expectations for faster economic growth and inflation battered bonds and boosted commodities, while rising…
India To Clear 45 Investments From China, Likely To Include Great Wall, SAIC
India is set to clear 45 investment proposals from China, which are likely to include those from Great Wall Motor…