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World McDonnell’s Davos Message: Share the Wealth to Allay Alienation – Bloomberg
John McDonnell came to the World Economic Forum in Davos with an uncomfortable message for the global elite. “I just warn the Davos establishment: There’s an anger building out there that you need to recognize and deal with,” McDonnell, the U.K. opposition Labour Party’s spokesman on finance...- stato
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Business Nigeria Going After Tax Defaulters Who Say ‘Catch Us If You Can’ –
Nigeria’s finance minister plans to drag tax defaulters who don’t make use of an amnesty to court as she seeks funds to plug the nation’s $25 billion infrastructure gap. In the nine months of reprieve ending March, some penitent taxpayers have said “you got me” and cleared arrears without paying...- curator
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World Chinese Family Pays Price for Activist’s Probe of Ivanka Trump – Bloomberg
Xiangyang, China (AP) — With two young children, Deng Guilian hadn’t planned on going back to work. That changed after her husband was arrested while investigating labor abuses at Chinese suppliers for Ivanka Trump’s brand. Now the 36-year-old mom works the overnight shift at a karaoke parlor...- stato
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World 5 Killed as Gunmen Battle Security Forces At Kabul Hotel – Bloomberg
Kabul, Afghanistan (AP) — Gunmen stormed the Intercontinental Hotel in Kabul, killing at least five people, including a foreigner, and setting off a 12-hour gunbattle with security forces that continued into Sunday morning, as frantic guests tried to escape from fourth and fifth-floor windows...- stato
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World Supreme Court to Review Trump’s Travel Ban – Bloomberg
The U.S. Supreme Court will rule on President Donald Trump’s travel ban, agreeing to hear his appeal of a decision that said he overstepped his authority by restricting entry into the country by people from six mostly Muslim countries. The case could produce a definitive ruling by late June on...- stato
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Metro Norwegian Airlines Sets Record for Fastest Transatlantic Flight – Bloomberg
To the envy of plane-weary travelers everywhere, passengers aboard a Norwegian Airlines flight from New York to London on Jan. 15 were treated to a pleasant surprise: they arrived 53 minutes ahead of schedule, making theirs the fastest transatlantic flight ever recorded on a subsonic commercial...- stato
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World Sinking Tanker Spills Oil Into East China Sea – Bloomberg
The Iranian oil tanker Sanchi sank into the East China Sea on Sunday afternoon after a blast, causing a “serious” oil spill that covered 10 square kilometers (3.9 square miles), state television reported, citing China’s State Oceanic Administration. The oil from the tanker was still burning...- stato
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Business InterContinental Exits Nigeria Over Debt Fallout With Partners –
InterContinental Hotels Group Plc is withdrawing from Nigeria four years after it opened its first site in Africa’s most populous country following a disagreement with local partners over the terms of how to bring the property out of receivership. The U.K. company’s 358-room hotel in Lagos...- curator
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Business Blankfein Tweets American Values Will Survive ‘All the Sh*t’ –
Lloyd Blankfein appeared to take another shot at President Donald Trump Friday. The Goldman Sachs Group Inc. chief executive officer took to Twitter with a photo of the Statue of Liberty piercing through the fog in New York harbor south of his office. During a meeting with lawmakers Thursday...- curator
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Business Coca-Cola South Africa Bottling Unit Severs Ties With McKinsey.
Coca-Cola Co.’s South African bottling unit isn’t awarding business to McKinsey & Co. pending the outcome of probes into the U.S. consultancy’s work involving the politically connected Gupta family. Coca-Cola Beverages South Africa hasn’t given a contract to McKinsey sine June 2017 and has no...- curator
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Business U.K.’s Richest Are Finally Making as Much as Before the Crisis
Spare a thought for Britain’s rich. Their disposable income has only just recovered to its level from before the recession in 2008, according to the Office for National Statistics. In a report on Wednesday, the ONS said the performance for the most well-off has lagged behind other households...- curator
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Business Apple Probed as French Customers Say IPhones Are Designed to Die – Bloomberg
Apple Probed as French Customers Say iPhones Are Designed to Die By January 9, 2018, 4:13 AM EST Apple Inc. faces a French criminal probe into allegations from consumer groups that it’s deliberately shortening the life of iPhones. The investigation, confirmed by Paris prosecutors on Tuesday...- curator
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Business Uber In More Trouble, Banned From Israel, Devalued By Softbank By 30%
SoftBank Group Corp. and a group of investors will value Uber at $48 billion, roughly 30% lower than the $69 billion that investors valued the company at during previous fundraising rounds. The deal would allow Softbank to purchase up to $9 billion of Uber stock from existing shareholders in a...- ProfRem
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Business PHOTO: Here's Nigeria's 2017 Budget Performance in the First Half
Nigeria's budget performance in the first half of 2017 shows oil revenue more or less as expected while non-oil revenue was way down despite the diversification of the economy by the Muhammadu Buhari's administration The analysis was shared by Paul Wallace, @PaulWallace123 o Twitter, Bloomberg...- ProfRem
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World Mark Zukerberg To Make Over $10 Billion Selling Some Facebook Shares In Coming Months
According to Bloomberg, the Facebook founder is expected to sell between 35 to 75 million shares in the next 18 months. At current rates, 75 million shares will be valued at over $12 billion. Bloomberg- siteadmin
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Business Oil Holds Near $50 As Hurricane Harvey Disrupts Refinery Maintenance - Bloomberg
Nigeria could be benefiting from the unfortunate events in America as Hurricane Harvey disrupts schedule maintenance of some of the US largest refinery. Read full report on Bloomberg- siteadmin
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Business MTN Moves To Acquire MultiChoice Africa
MultiChoice Africa is said to be having discussions with MTN, South African telecommunications company, regarding the sale of the company. Naspers Limited, parent company of MultiChoice Africa is the franchise owner of DStv and GOtv. The offer of MultiChoice Africa will not affect the South...- ProfRem
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Business Airtel To Sell-Off Stake In Nigeria, 14 Other African Countries
The Chairman of India’s largest mobile-phone operator, Bharti Airtel Ltd, Sunil Bharti Mittal, has disclosed that the company is considering mergers or sales off its stake in Nigeria and some of its Africa operations so as to cut debt and make its biggest overseas acquisition profitable...- ProfRem
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Business Nigeria to Sell N110Bn Worth of Bonds
The Debt Management Office (DMO) says it will raise N110 billion worth of bonds in three categories on August 17, its first foray into the market since 2013. The DMO said this in its August “Bond Circular” posted on its website on Wednesday. According to the DMO, the three categories of bonds...- ProfRem
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Business South Africa Overtakes Nigeria As Africa's Largest Economy
More than two years after losing Africa's largest economy to Nigeria, South Africa’s economy have regained its position in dollar terms as the value of the Nigeria’s naira move in opposite directions. Based on gross domestic product at the end of 2015 published by the International Monetary...- ProfRem
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