Ark Invest Adds $124 Million Worth Tesla Shares
Cathie Wood’s Ark Invest funds added a further $124 million stake in Tesla on Tuesday as the shares closed below $700 for the first time in 2021, according to the…
AM Best Affirms Credit Ratings Of AXA Mansard
AXA Mansard Insurance Plc has said that its rating outlook by the global insurance rating agency, A.M. Best as stable and its Financial Strength Rating of “B+” (Good) and “bbb-”…
Ant Investor Boyu Capital Targets $6 Billion For New Private Equity Fund – Sources
Chinese private equity firm Boyu Capital, an investor in Chinese technology titans including billionaire Jack Ma’s Ant Group, is raising a new, China-focused fund targeting as much as $6 billion,…
Show Us The Plan: Investors Push Companies To Come Clean On Climate
In the past, shareholder votes on the environment were rare and easily brushed aside. Things could look different in the annual meeting season starting next month, when companies are set…
A Nigerian Refinery: Known As Dangote Refinery Set To Sell It’s First Oil In Early 2022
Having crossed all hurdles, the 650,000 barrels a day Dangote refinery an integrated refinery and petrochemical project under construction in the Lekki Free Zone near Lagos, will commence full production…
Cryptocurrencies, Virtual Assets Pose Serious Risks For Nigeria – ICPC Boss
The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Bolaji Owasanoye, on Tuesday said virtual assets and cryptocurrencies are risky for implementation in Nigeria. Owasanoye made…
Exclusive: Top Banks Asked To Justify Why They Still Clear Euro Swaps In London
Europe’s top banks must justify why they should not have to shift clearing of euro-denominated derivatives worth billions of euros from London to the European Union after Brexit, an EU…
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 and some leveraged players took profit. The cryptocurrency dropped more…
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 billion pounds ($5.35 billion), after a rare auction ended a…
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 the biggest conglomerates in the Philippines, to apply for a…
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 of Industry, Trade and Investment and Trade Fair Management Board…
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 into the Nigeria Commodity Exchange (NCX), describing it as a…
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 on Monday, part of a drive to build more defence…
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 and SAIC Motor Corp, government and industry sources told Reuters,…
Shares Turn Cautious As Bond Yields, Commodities Surge
Asian shares turned mixed on Monday as expectations for faster economic growth and inflation globally battered bonds and boosted commodities, while rising real yields made equity valuations look more stretched…
Rio Tinto Executives Say Goodbye To 2020 With Chunky Payouts
Three Rio Tinto executives forced to leave the company after the destruction of sacred rock shelters at Juukan Gorge in Western Australia all closed off the year with substantial payouts,…
OPEC, U.S. Oil Firms Expect Subdued Shale Rebound Even As Crude Prices Rise
OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC…
Tesla Has Made About $1 Billion In Profit On Its Bitcoin Investment, Analyst Estimates
Tesla has made roughly $1 billion in paper profits from its investment into bitcoin, according to Daniel Ives, analyst at Wedbush Securities. The company is “on a trajectory to make…
Bitcoin, Either Hit Fresh Highs
Bitcoin hit a fresh high on Saturday, extending a two-month rally that took its market capitalization above $1 trillion on Friday. The world’s most popular cryptocurrency rose to a record…
What’s Behind SpaceX’s $74 Billion Valuation: Elon Musk’s Two ‘Manhattan Projects’
Elon Musk’s SpaceX is now worth $74 billion after it raised more capital last week – and the strong demand for shares means many investors believe the company’s two ambitious…
Saudi Arabia To Invest More Than $20 Billion In Its Military Industry Over Next Decade
Saudi Arabia will invest more than $20 billion in its domestic military industry over the next decade as part of aggressive plans to boost local military spending, the head of…
Coca-Cola Zero Sugar Will Be The Company’s Biggest Source Of Growth In 2021, CEO Says
The biggest source of growth for Coca-Cola over the next few years will likely be the zero-sugar version of the company’s namesake soda. “Actually, the best growth driver in ’21…
Brazil’s Bolsonaro To Oust Petrobras CEO After Fuel Pricing Spat
Brazilian President Jair Bolsonaro moved to replace the head of state-run oil company Petrobras, naming a retired army general with no oil and gas experience as CEO after weeks of…
Bitcoin, Ether Hit Fresh Highs
Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier. The world’s most popular cryptocurrency…
Bitcoin Steams To New Record And Nears $1 Trillion Market Cap
Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side…
European Shares Rise On Upbeat Hermes Earnings; Renault Slides
European shares edged higher on Friday as an upbeat earnings report from Hermes boosted confidence in a broader economic recovery, although the benchmark STOXX 600 was set to snap a…
Barclays Resumes Dividend Payouts As Annual Profit Halves
Barclays has resumed shareholder payouts after a year-long hiatus due to the COVID-19 pandemic, setting expectations other British lenders will follow suit when they report full year earnings in the…
Walmart Investors Eye Push Into Advertising, Healthcare Following Pandemic Boom
Walmart Inc’s investors and analysts are likely to look past the retail giant’s slowest same-store sales growth since the start of the coronavirus crisis, when it reports quarterly results on…
Dollar Hits Five-Month High Against Yen As Inflation Talk Boost U.S. Yields
The dollar held the upper hand against low-yielding currencies on Wednesday, hitting a five-month high against the yen as U.S. bond yields jumped on the prospects of further economic recovery…
Bitcoin makes history hits $50,000 for the first time
The price of Bitcoin on Tuesday rose above $50,000 for the first time in history. The buzz around bitcoin grew when the second richest man in the world Elon Musk…