US Moves To Block Microsoft’s Activision Takeover
Regulators in the US have asked a judge to block Microsoft from completing its $69bn (£56bn) purchase of Call of Duty publisher Activision Blizzard. The US Federal Trade Commission (FTC) said the deal, which would be the largest in the history of the video games industry, could “substantially lessen competition” in the sector. The move […]
Nigeria President Bans Binance Operations
A ban on operation has been placed on Binance Nigeria Limited’s by the President Bola Tinubu-led administration. The Securities and Exchange Commission (the Commission) announced the ban in a circular. The Commission claimed in the circular that Binance Nigeria Limited is neither registered or subject to regulation, making its operations in Nigeria illegal. The circular […]
Fuel Subsidy: Innoson Unveils Compressed Natural Gas Vehicles
As a result of the escalating cost of fuel, Innoson Vehicle Manufacturing (IVM), has unveiled mass-produced varieties of Compressed Natural Gas buses. In Nnewi, Anambra State, at the company’s factory, the CNG vehicles were on display. The vehicles include, trucks, minibuses, ambulances, long buses, and SUVs among others. Speaking at the unveiling, Dr. Innocent Chukwuma, […]
Apple Unveils A $3,500 Headset As It Wades Into The World Of Virtual Reality
Apple on Monday unveiled a long-rumored headset that will place its users between the virtual and real world, while also testing the technology trendsetter’s ability to popularize new-fangled devices after others failed to capture the public’s imagination. After years of speculation, Apple CEO Tim Cook hailed the arrival of the sleek goggles — dubbed “Vision […]
Oil Prices Rise As Saudi Arabia Pledges Output Cuts
Oil prices have risen after Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July. Other members of Opec+, a group of oil-producing countries, also agreed to continued cuts in production in an attempt to shore up flagging prices. Opec+ accounts for around 40% of the world’s crude oil […]
With Oil Prices Slumping, OPEC+ Producers Weigh More Production Cuts
The major oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in supply to the global economy as the OPEC+ alliance struggles to prop up sagging oil prices that have been a boon to U.S. drivers and helped ease inflation worldwide. The 23-member group is meeting Sunday at OPEC headquarters […]
Elon Musk Says He Has Appointed New Twitter Boss
Elon Musk says that he has found a new chief executive to lead Twitter. He announced the news on the social media platform, which he bought last year for $44bn (£35bn). Mr Musk did not name the site’s new boss but said “she” would start in six weeks, at which point he would become executive […]
Janet Yellen Warns Of Debt Ceiling ‘catastrophe’
US Treasury Secretary Janet Yellen has warned a failure to raise the US’s debt ceiling could have dire consequences. Without an agreement to increase what the federal government can borrow, it could run out of money by early June. At that point the federal government might not be able to make wage, welfare and other […]
Nigerian Airlines Places Sudan Crises Priority, Postpone Signing Agreement For Hajj Airlift
Due to the Sudan crises, representatives of local airlines including Air Peace, Azman Air, Max Air, and Aero Contractors, selected to airlift Nigerian pilgrims for the 2023 Hajj have turned down signing a letter of agreement with NAHCON. The signing of the airlift agreement, which was scheduled for today, has been postponed until Tuesday of […]
First Republic: JP Morgan To Take Over Major US Bank
JP Morgan is set to take over the troubled US bank First Republic in a deal brokered by regulators. The Federal Deposit Insurance Corporation (FDIC) confirmed in a statement that First Republic had collapsed on Monday. Investment banking giant JP Morgan will now take on “all of the deposits and substantially all of the assets of First […]
