business news update

I entered Amazon Go, the company’s checkout-less convenience store in Seattle, at 10:23 a.m. Monday and spent precisely 11 minutes and 59 seconds browsing before I walked out with a sandwich and a yogurt cup. This information was available because the moment I scanned a personalized QR code …...

Following an already rough month for bitcoin, three U.S. virtual currency operators have been charged with fraud by the United States Commodity Futures Trading Commission (CFTC). The CFTC alleges that CabbageTech, Entrepreneurs Headquarters Ltd., and one unnamed bitcoin operator have engaged in...

Tim Akinbo, Co-Founder Tanjalo The 6 months I have spent trading cryptocurrencies have been a roller coaster ride. Cryptocurrencies are a 24/7 market easily swayed by the smallest of news items – a coin being listed on a new exchange, or yet another country clamping down on trading. The most...

The United States is set to overtake Saudi Arabia as the world’s number two oil producer this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday. “This year promises to be a record-setting one for the US,” the IEA wrote in …...

In Nigeria, there are loads of individuals (wanapreneurs) with great ideas in mind. But sadly accessing funds to kick-start their idea seems to be almost impossible. In a country like Nigeria, there are only a hand full of fundraising platforms that supports start-ups which makes accessing funds...

In June 2017, Nigeria’s Minister for Science and Technology, Dr. Ogbonnaya Onu, reportedly said plans were being made to teach Science, Technology, Engineering and Mathematics (STEM) subjects in indigenous languages. There was an opinion as to why this was not a good idea, even though this...

Individual using a bitcoin ATM Cryptocurrency markets around the world were yesterday thrown into panic yesterday when bitcoin fell 28% yesterday, breaking below the $10,000 floor. Ripple fell by 46%, while ethereum lost 30%, dropping below the $1000 floor. This led to over $400 billion being...

By Hilary Kimuyu The Communications Authority of Kenya (CA) has fined the three leading mobile operators Safaricom, Airtel and Telkom Kenya Sh311 million for failing to meet the quality of standards (QoS) for the 2015/2016 financial year. According to the QoS report by the CA, neither Safaricom...

By Ken Macharia The Kenya financial market has been ranked fifth in Africa with a score of 59 percent in the Africa Financial Markets Index. South Africa, with a score of 92 percent is first in the index followed by Mauritius, Botswana and Namibia. The index by Barclays Africa … via...

Goldman Sachs Group Inc on Wednesday reported a sharp drop in trading revenue that renewed questions about its ability to revive a moribund profit driver or find business to replace it, sending shares down 3 percent. The Wall Street bank posted its first quarterly loss in six years due …...

By Prince Osuagwu The Nigerian Communications Commission, NCC, Tuesday gathered stakeholders in Lagos, to discuss possible ways of ensuring appropriate pricing for broadband services in the country. Umaru Garba Danbatta, New NCC boss The commission said appropriate pricing will enhance robust...

Pangea, a platform connecting African startups with international investment & expertise, has launched its accelerator program in Kenya and is set to invest up to 500,000 USD into ten final startups in Kenya. Pangea is working with Kenya’s Strathmore University’s @iLabAfrica accelerator to link...

AP Photo/Kevork Djansezian Plenty of celebrities have been on the wrong end of a costly divorce settlement, including Paul McCartney, Madonna, Tiger Woods, and even President Donald Trump. Though each of those settlements were worth tens of millions of dollars, they pale in comparison to the...

Huawei’s just announced intentions to bring the Mate 10 Pro to the U.S. Fast on its heels is the Mate 10 Porsche Design, set to be released in mid-February. The Porsche Design Huawei Mate 10 revs up specs a bit, while adding some class, and a whole lot of … via PhoneArena – News –...

The naira Wednesday depreciated to N360.73 per dollar for the first time this week in the Investor and Exporter window, prompted by a 16 percent decrease in dollar supply. Data from the Financial Market Dealers Quote (FMDQ) showed that indicative exchange rate for the window, known as Nigerian...

Virgin Atlantic Airways has expressed optimism about continuing its business with Nigeria and also has plans for the country in the future. The Airline which has conveyed Nigerians to London in the past sixteen years said it is grateful to Nigeria for its support and as … via BusinessDay ...