China seizes control of Anbang Insurance as chairman prosecuted

Anbang Insurance

The Chinese government on Friday seized control of Anbang Insurance Group Co Ltd and said its chairman had been prosecuted, a dramatic move that highlights Beijing’s willingness to curtail big-spending conglomerates as it cracks down on financial risk. Anbang had violated laws and regulations which “may seriously endanger the solvency of the company”, More...

by metro | Published 22 hours ago
By metro On Friday, February 23rd, 2018
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Global stocks stay subdued as dollar edges higher

A stronger dollar and slightly higher global borrowing costs kept world shares subdued on Friday and left gold limping toward its worst week since December. Europe’s main London, Frankfurt and Paris markets <0#.INDEXE> More...

Dangote
By metro On Thursday, February 22nd, 2018
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Dangote to build sugar plants in 6 states

Dangote Nigeria’s Dangote Group has signed a deal to commence the building of integrated sugar plants in six states in Nigeria. The Chairman of the group, who is also Africa’s richest man, Alhaji Aliko Dangote, More...

electric cars
By metro On Wednesday, February 21st, 2018
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Slowing U.S. auto sales prompts Japan automakers to rethink discounts

A second year of slowing growth in the U.S. auto market is forcing Japanese automakers to look beyond discounts to grow market share and focus more on boosting profitability in their largest market. Global automakers More...

European stocks
By metro On Monday, February 19th, 2018
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World stocks extend global recovery, set for sixth day of gains

World stocks were set for a sixth session of gains on Monday, extending a recovery from a selloff sparked by fears of creeping inflation and higher borrowing costs. Gains were marginal, however, and scored largely More...

By metro On Friday, February 16th, 2018
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NB, Dangote Cement, others lift NSE index by 1.03 per cent

Following price gains recorded by major highly capitalised stocks especially Nigerian Breweries, and Dangote Cement, transactions on the equity sector of the Nigerian Stock Exchange (NSE), continued in upbeat yesterday, More...

NSE
By metro On Monday, February 12th, 2018
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Nigerian stocks drop for sixth session to one month low

Nigerian stocks shed 1.5 percent on Monday in late trades to drop to one month low as investors sold off shares from the relatively liquid banking sector.  The stock market, hit by a global risk-off sentiment, More...

Heineken
By metro On Monday, February 12th, 2018
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Volatile markets prompt Heineken to lower margin growth target

Volatile markets and an acquisition in Brazil prompted the world’s second largest brewer Heineken to warn its profitability in 2018 would improve by less than the target it had set for the previous three years. The More...

Bitcoin
By metro On Monday, February 5th, 2018
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British banks ban buying of bitcoin with credit cards

Bitcoin Britain’s biggest lender, Lloyds Banking Group Plc, has disclosed that it would ban its credit card customers from buying crypto currencies. Reuters reported on Monday that the development, which followed More...

NSE
By metro On Wednesday, January 31st, 2018
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Profit Taking Drags Market Into Negative Territory, ASI Down 34bps

The equities market closed negative today as profit taking dragged the benchmark index 34bps lower to 44,343.65 points while YTD return contracted to 16.0%. As a result, market capitalization decreased by N53.8bn More...