The Structural Origins Of Rising Inflation
Headline inflation accelerated for the twelfth successive month in August to 13.22% y/y from 12.82% the previous month. (Our expectation, shared with the newswires, was a little changed rate of…
FG, Lagos State Stop Barge Operations Along Marina Coastline
The Federal Government, in conjunction with Lagos State, yesterday ordered the stoppage of all barge operations, which have desecrated the once beautiful and peaceful Marina coastline. However, the Nigerian Ports…
Pound Near Two-Month Lows On Brexit Worries; Bank Of England Eyed
The British pound held within striking distance of a two-month low on Wednesday before a Bank of England decision on Thursday against the backdrop of a darkening outlook for the…
Dollar, Sterling, Euro Batter Naira Again In Parallel Market
The Naira has lost all its gains of two weeks ago against the US dollar and other major currencies and has sunk to the status quo ante, exchanging for N465.…
Oil Prices Below $40: What It Means For Nigeria, Local Oil Companies, Banks
The price of Brent, the benchmark of Nigeria’s crude oil has fallen to $39 as bearish factors mount and sentiment shifts add another wrench in the recovery for oil prices…
Debts – FAAN To Quit Servicing Private Airports
Lagos — The Federal Airports Authority of Nigeria (FAAN) may quit its services for some private aerodrome operators over growing debts. The authority had, issued a 21-day ultimatum with effect…
Yen Hits Two-Week High On Dovish Fed Expectations; Yuan Rallies
The Japanese yen inched higher on Wednesday as traders bet an ultra-accommodative U.S. Federal Reserve would weigh on the U.S. dollar, while the Chinese yuan extended gains one day after…
Peloton Thinks It Can Grow To 100 Million Subscribers. Here’s How
Peloton just had a breakout quarter, as sales of its high-tech bikes skyrocketed, and its subscriber base surged at a triple-digit rate, with more people than ever working out at…
Peloton CEO On Apple Launching A Workout Service: ‘It’s Quite A Legitimization Of Fitness Content’
Peloton CEO John Foley said Tuesday that Apple launching a fitness platform is a “legitimization” of this type of content. Foley’s remarks were made during the bike maker’s first-ever investor…
Kraft Heinz Looks To Revamp Oscar Mayer Brand, Cut 20% Of Products, As It Rethinks Business
As Kraft Heinz tries to make its new customers stick around after the coronavirus pandemic, the company is rethinking its approach to how it responds to trends. “We need to…
CBN Allows Banks To Pay Winnings, Salaries For 7 Banned Betting & Gaming companies
The Central Bank of Nigeria has given some commercial banks instructions to allow betting and gaming companies suspended earlier in the month the approval to honour withdrawals from their accounts…
Snowflake Prices IPO Above Increased Range, Implying Initial Market Cap Of $33.3 Billion
Snowflake, a provider of cloud-based data storage and analysis software, priced its IPO above its increased range in an offering that values the company at $33.3 billion. Snowflake announced it…
Forex Strapped Nigeria Designates Crypto Assets As Securities
The Securities and Exchange Commission (SEC) of Nigeria has designated crypto assets as securities as the authorities step up efforts to regulate Africa’s largest cryptocurrency market. The SEC says the…
Pound Traders See Opportunity In U.K.-EU Brexit Dispute
Pound traders betting the U.K. and European Union are bluffing in their latest Brexit dispute are set for a windfall if history repeats itself. That’s because options to position for…
Conversion Of Cars To Gas Fuelling Begins In October, Says Sylva
BY next month, the Federal Government will commence the conversion of cars and generating plants for gas fuelling. The Minister of State for Petroleum Resources, Timipre Sylva, spoke on NTA’s…
Nigeria’s SEC Recognises Cryptocurrencies As Securities
Crypto assets have been defined as securities “unless proven otherwise” Nigeria takes another step forward in integrating cryptocurrencies by formally defining digital assets under its regulatory umbrella. On September 14,…
Nigeria Must Lift Bank Loans To Agricultural Sector To 10% Of Total In 4 Years – Cenbank
Nigeria needs to more than double the proportion of bank loans it makes to the agricultural sector to 10% within the next four years to boost food production in Africa’s…
Moody’s Changes Global Oil Exploration, Production Outlook To Stable
The outlook for the global exploration & production (E&P) sector has been changed to stable from negative, Moody’s Investors Service has stated in its latest report. The report anticipated that…
UPDATE 2-IEA Says Oil Demand Recovery Set To Slow For Rest Of 2020
The International Energy Agency (IEA) trimmed its 2020 oil demand forecast on Tuesday, citing caution about the pace of economic recovery from the pandemic. The Paris-based IEA cut its 2020…
Nigeria’s Inflation For August Highest In 28 Months
Nigeria’s inflation rate rose further to 13.22 per cent in August, the highest in 28 months, as a result of the spike in the prices of basic food items in…
General Motors To Unveil Hummer EV Pickup With ‘Crab Mode’ In October
General Motors will reveal the GMC Hummer EV – its first all-electric pickup – in October, roughly a year ahead of it arriving in dealer showrooms to compete in what’s…
Here’s What To Expect From Kraft Heinz’s Investor Meeting
Kraft Heinz is scheduled to present its new strategy for the company on Tuesday morning to investors, who are looking to hear more details on coming innovation and cost savings…
PepsiCo To Launch Drink To Aid Sleep As Consumers Struggle With Stress
Doctors and dentists are reporting more cases of cracked teeth and insomnia as the coronavirus pandemic takes a toll on the nation’s stress levels. PepsiCo’s latest drink Driftwell is pitching…
Jim Cramer Reveals Playbook For Snowflake IPO: ‘It’s A Great Concept’
CNBC’s Jim Cramer on Monday made a recommendation on the soon-to-be public stock of Snowflake, the cloud enterprise tech company that has drawn interest from the likes of Berkshire Hathaway…
Nigeria to Regulate Crypto-Currency Trading to Protect Investors
Nigeria’s Securities and Exchange Commission said it will regulate trade in digital currencies to provide protection for investors and to ensure that transactions are transparent. “The general objective of regulation…
Forbes Lists Messi Second Footballer To Earn $1 billion
Barcelona forward, Lionel Messi has been named the second professional footballer to earn $1 billion in his career. This is after his rival, Cristiano Ronaldo was listed the first footballer…
World’s First Collectible Digital Coin Emailed To ECB Policy Makers
The email inboxes of European Central Bank policy makers were pinged on Monday with an unusual gift from one of their colleagues — the world’s first collectible digital coin. LBCOIN,…
Nigeria’s SEC Classifies Cryptocurrencies As Securities In Landmark Regulatory Document
Nigeria’s Securities and Exchange Commission (SEC) on Monday designated the title of “securities” to crypto assets and hence will be regulated by it. According to the capital market regulator, the…
Concerns Rise On Banks’ CRR As COVID-19 Impact On Businesses Bites
Amid the devastating effects of COVID-19 on businesses, commercial banks currently have the issues of Cash Reserve Ratio (CRR) obligations to grapple with. The Central Bank of Nigeria (CBN) now…
Private Tank Farms Crippled Refineries, Says IPMAN
The Independent Petroleum Marketers Association has said that the collapse of Nigeria’s refineries can be traced to the birth of private tank farms. Chairman of IPMAN in Rivers State, Dr…