Technology giant Microsoft has announced that Satya Nadella will be its next chief executive. Indian-born Mr Nadella is currently Microsoft’s head of Cloud and Enterprise, which builds and runs the firm’s computing platforms and
Britain-based drinks giantSABMiller’s (IW 1000/206)Nigerian subsidiary said today it is investing $110 million to expand its brewery in the southeast of the country. Intafact Beverages, which brews Hero Lager, said the money will help triple annual capacity from 700,000 to 2.1 million hectolitres and would create
If the report we are getting from National Bureau Of Statistics(NBS) is anything to by then Nigeria will be Africas largest economy in the next 3weeks as the National Bureau of Statistics (NBS) has in its new released rebased Gross Domestic Product (GDP) show that Nigeria has overtaken South Africa as Africa’s largest economy, which […]
A crucial meeting between key government offices concerning the Central Bank of Nigeria (CBN) over the declaration that the Nigerian National Petroleum Corporation (NNPC) has failed to remit to the Federation Account the sum of $49.8 billion between 2012 and 2013 has concluded that only about $10.8 billion appears to be unaccounted for. That figure […]
US bank JP Morgan has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation. The bank acknowledged it made “serious misrepresentations to the public”, but said it did not violate US laws.
JP Morgan has reached a $5.1bn (£3.2bn) settlement with the US Federal Housing Finance Agency (FHFA) over charges it misled mortgage giants Fannie Mae and Freddie Mac during the housing boom.
Google shares have topped $1,000 (£617) for the first time after the company reported better-than-expected earnings. The company posted a 36% jump in net profits to $2.97bn for the July-to-September period. Shares in the giant online search and ads company rose more than 13% to $1,006, and are now up 41% since the start of […]
The US Commodities Futures Trading Commission has said JP Morgan will pay $100m (£62.4m) to settle with the agency over losses stemming from its “London Whale” trading debacle in 2012.
The number of unemployed in the UK fell by 18,000 to 2.49 million in the June-August period, official figures show.
China has offered tax rebates to manufacturers of solar power products in an attempt to prop up the struggling sector and also cut pollution levels. Manufacturers will be refunded 50% of the value added tax from 1 October 2013 to 31 December 2015, the state-owned Xinhua news agency has reported.