Adidas may lose $1.3 bn in 2023
Adidas may lose about $1.3 billion in 2023 if they are not able to sell their current Yeezy stock. Yeezy is a fashion collaboration between the American rapper, designer, and…
Russia to cut oil output by 500,000 bpd
By Christian George Russia is hoping to reduce its oil production by 500,000 barrels per day in March. Deputy Prime Minister Alexander Novak said on Friday after an imposed…
Wema Bank hits record N12.6bn profit
Wema Bank has reported a 41.7 per cent growth in profit after tax of N12.64 billion in 2022, having made N8.92 billion in 2021. According to the bank, its…
How UK narrowly escaped recession in 2022 – Report
The economy of the United Kingdom narrowly escaped recession at the last quarter of 2022. This was reported by Reuters according to the figures from the Office for National Statistics…
Fuel scarcity eases gradually after five months
FThe severe fuel scarcity that has plagued the country since November 2022 is gradually phasing out, as petroleum products are already being made available at filling stations with little or…
Scarcity: Accept POS payment, FG orders fuel stations
The Federal Government of Nigeria has ordered fuel stations to make use of Point of Sale and accept payment via bank transfers.nairafuel Following this order, it mobilised security officials on…
TUC threatens to sue FG over Naira, fuel crises
The Trade Union Congress has threatened to sue the Federal Government following the persistent scarcity of naira and hike in the price of petrol. The Punch reported that the National…
Price hike of soaps, packaged food will continue – Unilever
The world's largest producer of soap, Unilever said on Thursday that it will keep raising prices for its soaps, detergents and packaged food. This is owing to its rising production…
Kaduna govt to use WhatsApp to collect taxes
The Kaduna State Internal Revenue Service has said that it will employ social media platform WhatsApp and the Unstructured Supplementary Service Data service to improve less efficient methods of tax…
S’Korea fines Mercedes-Benz $33.48bn for rigging diesel car emissions
By Christian George Three German car manufacturers, Mercedes Benz, BMW and Audi have been fined by South Korea's anti-trust regulator a total sum of 42.3 billion won ($33.48 billion)…
Toyota’s Q3 profit jumps to 22% over weak yen
Toyota Motor Corp, the world's largest automobile on Thursday recorded a 22% rise in its third-quarter operating profit. The rise was reported to have resulted from the weaker state of…
Naira rises 0.07% at investors, exporters window
The Naira on Thursday exchanged at 461.17 to the dollar at the Investors and Exporters window. The figure represented an appreciation by 0.07 per cent compared to the 461.50 it…
