Business

OIL climbed to a five-month high in London, topping $45 a barrel after United States (U.S.) industry data showed a decline in the nation’s stockpiles. Brent for October settlement rose to…

FCMB Group Plc has again proved its resilience and capability to deliver outstanding performance and returns to customers and shareholders going by the half year results of the…

Virgin Atlantic Airway has filed for bankruptcy, as the aviation industry continues to be ravaged by the coronavirus pandemic. The Virgin Group airline filed for Chapter 15 bankruptcy in…

Choppies Enterprise Ltd. is shutting down its supermarkets across several African nations in a bid to concentrate on growth in Botswana, where it is listed, as well as other southern African…

Following the successful acquisition of the Bajaj franchise by the Stallion Group recently, the latter is taking proactive and preventive measures to make sure, contact between the Keke operator and…

Global energy giant BP on Tuesday reported a post-tax loss of $6.7 billion dollars in the second quarter amid lower oil prices and writedowns. The loss compared to a post-tax…

The imbroglio between Nigeria Postal Service (NIPOST) and the Federal Inland Revenue Services (FIRS) over jurisdiction in respect of stamp duty collection worsened on Tuesday. Director Communication…

CEMENT producer BUA Cement, on Monday, announced an impressive 2020 half-year revenue of N101.3 billion and a Profit after Tax (PAT) of N34.82 billion. These represent an increase of…

Shoprite, Africa’s largest food retailer, announced on Monday it is considering selling off its majority share in its Nigerian subsidiary.  In a trading update filed at the Johannesburg Stock…

Microsoft Corp has confirmed talks with ByteDance to acquire the U.S. operations of the Chinese-owned short-video app TikTok. The U.S. tech giant formally declared its interest on Sunday…

When Shoprite leaves Nigeria, its assets will most likely be handed over to a Nigerian. The Nation has confirmed “discussion is ongoing and at advanced level to dispose their…

The on-going Dangote ‘Bag of Goodies Season 2 Consumer Promo’ has triggered excitement in the country as more winners continue to emerge, winning millions of Naira, goodies bags, recharge cards, and several others mouthwatering…

Africa’s biggest grocery retailer, Shoprite, is exiting the continent’s most populated country, Nigeria, after 15 years. The Cape Town-based retailer has started a formal process to consider the…

•Heavy consumers to pay exit fees as NERC releases new rules Ten out of the 11 electricity distribution companies (Discos) in Nigeria’s power sector have said that they will take part in a planned…

Deposit Money Banks on August 1 commenced the implementation of the Central Bank of Nigeria’s Global Standing Instruction which allows them to recover outstanding debts of debtors from other…

Banks’ loans to customers were priced between 15.01 per cent and 30.70 per cent in the first quarter of this year, the Central Bank of Nigeria (CBN) has disclosed. The lenders…

The Bank of Industry (BOI) disbursed N234 billion to 10,145 micro, small and medium enterprises in 2019. This was disclosed at the bank’s 60th annual general meeting that held virtually in…

The owner of British Airways has announced a £3.8 billion loss and warned that passenger numbers will not recover until 2023 after plummeting by 93 per cent during the pandemic. Parent company IAG…

Leading fertiliser and agro-allied company in Africa, Notore Chemical Industries Plc, has posted a six per cent revenue growth, showing gross revenue of  N17.4 billion and operating income…

The NNPC has signed a $1.5 billion prepayment deal led by Standard Chartered and backed by oil traders Vitol Group and Matrix Energy. It was the first such agreement since the COVID-19…

Revenue generated from value-added tax increased by 8.45 percent from the N600.9 billion realised in half-year 2019 to N651.7 billion in 2020. According to the sectoral distribution on…

…URGE COMPANY TO TARGET MORE MARKETS    Shareholders of NASCON Allied Industries Plc, a subsidiary of Dangote Industries Limited have expressed satisfaction at the performance of the company but…

Just as crypto investors and traders have been cashing in on the recent bullish run in the crypto market, BTC thieves moved about 3,897 BTC in 7 transactions within an hour. The…

The UK's debt is now worth more than its economy after the government borrowed a record amount in May. The £55.2bn figure was nine times higher than in May last year and the highest since records began in 1993. The borrowing…