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Banks increase lending rates after CBN’s MPR hike
featured

Banks may reconsider customer loans over naira slump – Security Firm

An analysis by a security firm, Cordros Securities shows that the release of foreign exchange is only anticipated to have a minor effect on banks’ lending-to-deposit ratios. According to The Punch, the security company said that the CBN’s proposal to re-enforce LDR could hurt Tier 1 banks, forcing them to revalue their loans and deposits in foreign […]

Netflix to roll out games for TVs, laptops
News Tech

Netflix to roll out games for TVs, laptops

Video streaming platform, Netflix will start the testing of a few games to make games playable on select TVs and laptops. Mike Verdu, the organization’s vice president of games made this known in a blog post on Monday. Starting on Monday, the company will launch a modest beta test for a restricted number of customers […]

Oil and Gas

Nigeria’s Forcados crude oil resumes exports, says Shell

An oil company official confirmed on Monday that Shell Nigeria resumed exports of the nation’s Forcados grade of crude oil on Sunday. According to Reuters, this came after loadings of the medium sweet grade were halted about a month ago due to a probable leak at the export terminal. The grade’s exports were stopped on […]

FTX CEO Sam Bankman-Fried appeals imprisonment
News Tech

FTX: Bankman-Fried to remain in jail till trial

CEO of the bankrupt FTX, Sam Bankman-Fried will be in the Brooklyn’s Metropolitan Detention Center till his trial in October. Sam Bankman-Fried will prepare for his fraud trial from the jail, where convicts ranging from the former president of Honduras to convicted sex trafficker Ghislaine Maxwell have complained of poor living circumstances. Bankman-Fried, the CEO […]

Sony Music, Triller settle copyright infringement case
News Tech

Sony Music, Triller settle copyright infringement case

Sony Music Entertainment has dropped its lawsuit against Triller over claims the short-form video platform exploited the label’s music without authorization. Sony Music and Triller informed the Manhattan federal court on Friday that they will drop the copyright complaint with prejudice, which prevents a subsequent filing. Triller agreed to pay more than $4.5 million to […]

Amazon deploys AI to enhance product review
News Tech

Amazon deploys AI to enhance product review

Amazon on Monday announced that it will start using generative AI to help customers understand what customers are saying about a product. The company claims that it will take advantage of the new technology to display a brief paragraph of text directly on the product detail page that will highlight the attributes of the item […]

Canoo signs incentive agreement with Cherokee, Oklahoma
Tech

Electric-car company Canoo seals incentive agreement with Oklahoma, Cherokee

Burgeoning startup, Canoo, has unveiled groundbreaking incentive agreements with the state of Oklahoma and the esteemed Cherokee Nation, setting the stage for a transformative injection of approximately $113 million over the course of the next decade. This visionary move has already set the wheels in motion, as Canoo has embarked on a robust recruitment drive […]

PayPal announces senior Intuit exec Alex Chriss new CEO
News Tech

PayPal announces senior Intuit exec Alex Chriss new CEO

A senior executive of tax-preparation software provider Intuit, Alex Chriss will succeed PayPal Holdings’ longest-serving CEO Dan Schulman on September 27. The shift in leadership is a turning point for the leader in digital payments, PayPal, which last week launched a U.S. dollar stablecoin in an effort to expand its presence in the cryptocurrency payments […]

Crypto news platform CoinDesk cuts workforce ahead of sale
News Tech

Crypto news platform CoinDesk cuts workforce ahead of sale

Digital Currency Group’s CoinDesk, a crypto media company, is cutting back on staff, according to a report by TechCrunch. “…several roles, predominantly in our media team, were impacted by a reduction in force,” Kevin Worth, CEO of CoinDesk, said. The Wall Street Journal reported last month that a deal to sell the media company to […]

Ex-Apple VP Peter Stern to lead Ford Motor's new business services
Tech

Ex-Apple VP Peter Stern to lead Ford Motor’s new business services

Automotive company, Ford Motor announced on Monday the appointment of a former Apple Inc executive, Peter Stern, as the president of its newly-established integrated services business. This division is primed with the critical mission of conceiving and promoting cutting-edge software solutions for Ford’s expansive array of vehicles. With a storied background encompassing leadership roles in […]

Neveah issues its N8.9bn series 6-13 commercial paper
Business

Neveah issues its N8.9bn series 6-13 commercial paper

Leading commodity trading firm Neveah has announced the successful conclusion of its Series 6-13 Commercial Paper Issuances, which raised a total of N8.9 billion. The Nation reported that a wide spectrum of investors, including asset managers, insurance companies, PFAs, and trustees, responded favourably to the series 6-13 issuances and actively subscribed to them. The FMDQ Securities […]

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