Business

Saudi Arabian state oil giant Aramco on Tuesday reported a 25 percent fall in first-quarter net profit, hurt by lower oil prices and coronavirus. Net profit fell to 62.48…

Not everyone gets personally insulted by the president of the United States when they announce their retirement. But when you’re walking away with a pension plan big enough to buy a typical…

Ten Deposit Money Banks (DMBs) in the country earned a total of N124.47 billion in fees and commission income in the first three months of this year, the lenders’…

Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down…

Foreign investors wishing to repatriate their funds from Nigeria can safely do so, the Central Bank of Nigeria (CBN), has assured. CBN Governor Godwin Emefiele at the…

•Zero petrol subsidy to save country $2bn yearly As Nigeria anxiously expects oil prices to rise to a comfortable position and boost the country’s confidence to recover from the…

Tesla chief Elon Musk on Saturday threatened to pull his electric car headquarters and plant out of California. He made the threat after local authorities kept him…

The Nigerian Stock Exchange (NSE) has started the recruitment process for the role of its Chief Executive Officer currently held by Mr. Oscar Onyema. This followed the appointment…

The richest man in Europe and third-richest billionaire worldwide, has lost a whooping $30 billion due to the coronavirus pandemic, this is more than any other person worldwide. The coronavirus is an ongoing pandemic which has led to the…

Notwithstanding the lockdown the Nigerian economy witnessed in April over the ravaging CODIV-19 pandemic, the stock market, boosted by the remote trading via fintech, recorded a gain of N897bn during the month. The Federal…

Uber said Wednesday it was cutting 3,700 jobs amid a huge slump in its ride-hailing operations during the pandemic. The cuts amount to around 14 percent of Uber’s global workforce, which does not include its contract drivers. The…

South Africa’s sudden resolve to sell its cash-burning state-owned firms provides key learning for Nigeria as it desperately seeks to ease pressure on government finances in the wake of the COVID-19…

Oil prices rose for a fifth consecutive day Tuesday, with the international crude benchmark Brent trading for $30.31 its best level since April 13. Equities also soared on hopes for…

Virgin Atlantic has announced plans to lay off 3,150 staff and move its operations from Gatwick Airport to Heathrow Airport. The layoff represents almost one-third of the airline’s total…

The year 2020 began with lots of predictions and promises, but the volatility in the stock market (which was occasioned by the Coronavirus pandemic) was not top on…

Massive stimulus to support the U.S. economy through the coronavirus crisis will cause the Treasury to borrow a record $3 trillion this quarter. The department on Monday announced the  total Monday. “The increase in privately-held net…

Fidelity Bank has reported N6.6bn Q1 profit, and has reassured its stakeholders that it will continue to take measures to ensure the safety of customers, staff, and others during the COVID-19 pandemic. This is just…

An estimated 84 million barrels of Nigerian crude oil is currently stranded at sea, a report by Wall Street Journal has said. In an April 27 report, the newspaper said cargo ships filled with Nigerian crude had nowhere to go and…

Oil prices fell in early trade on Monday, paring last week’s gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery. The…

Access Bank Plc has urged its customers and the general public to disregard social media report of its shutting 340 branches nationwide. Responding to enquiry,…

lockdown imposed by federal and state governments to control the spread of the coronavirus has created a supply glut in the poultry products market. This is similar to the happenings in the global crude oil market where movement…

Warren Buffett’s Berkshire Hathaway Inc. reported a record $49.75 billion first-quarter net loss on Saturday at the annual general meeting. The loss reflected huge unrealised losses on…

The Association of Progressive Nigerians has appealed to the Central Bank to withdraw old and tattered naira notes from circulation as the country is battling COVID- 19 pandemics. The group…

          Tesla's founder Elon Musk wiped $14bn off the carmaker's value after tweeting that its share price was too high. The tweet also knocked $3bn off Mr Musk's own stake in Tesla as investors promptly bailed out of the company.…