Browsing: Business & Economy News

BlackBerry said Friday it fell deeper into the red in the past quarter as the struggling smartphone maker unveiled a new manufacturing partnership and a revamped organizational structure. The Canadian firm reported a massive $4.4 billion loss in its…

The Standard and Poor’s ratings agency on Friday downgraded the European Union’s long-term credit rating one notch, from “AAA” to “AA+”, citing weaker credit worthiness among the bloc. “The downgrade… reflects our view of weaker creditworthiness among…

The United States has signed anti-tax fraud pacts with six countries and territories including some considered tax havens, the US Treasury Department said Thursday. The Netherlands, Malta, and the British territories of Bermuda, Jersey, Guernsey and…

Why is everybody making such a fuss about the latest Warren Buffett wind power purchase? Okay, so the legendary investor’s MidAmerican Energy Company has just ordered a huge mess of wind turbines from Siemens, but it was all the way back in May that…

Facebook founder Mark Zuckerberg will sell 41.35 million ‘B’ shares in the company for tax purposes, US stock market regulators said on Thursday. These shares will allow Zuckerberg to retain power over Facebook because each has 10 voting rights. Proceeds…

The Bank of England is to issue plastic banknotes for the first time in its history, it announced Wednesday, with Winston Churchill gracing the first run. The polymer note, carrying a value of £5 ($8.2, 6.0 euro), is to be released in 2016 — and as…

The virtual currency Bitcoin crashed in China on Wednesday, falling almost 50 percent after the country’s biggest trading platform BTC China banned deposits in yuan following new restrictions imposed by the central bank. Chinese speculators have driven…

CALGARY, Alberta, December 16, 2013 /PRNewswire/ — Oando Energy Resources Inc. (“Oando Energy Resources” or the “Company”) (TSX: OER), a company focused on oil and gas exploration and production in Nigeria, today announced that it has further amended…

It’s easy to get caught up in the obvious aspects of platforms such as Twitter and Facebook, but success lies in the subtleties

Banker ousted from Barclays floats £150m fund for venture in Africa, with Nigeria rumoured to be starting point for investment

By David Holmes On December 7, 2013It’s been one month since Twitter’s mega-IPO, and its stock price and market capitalization have held firm. The stock price is up slightly from $44.90 to $44.95, as is the market capitalization up from $24.46B…

In the latest in a long list of travesties carried out by the US government in the Megaupload case, apparently it went to the US court handling the case, and without letting Megaupload know, got an ex parte order allowing the government to share evidence…

Trade ministers from the United States and 11 other countries opened talks on Saturday in an attempt to meet a US deadline to forge a trans-Pacific trade pact before the end of the year. However, analysts said an agreement on the proposed Trans-Pacific…

Commerce ministers capped days of hard negotiations Saturday by approving a WTO agreement on international commerce they hailed as a “historic” boost for the trade body. The agreement falls far short of the World Trade Organization’s lofty but elusive…

New Transportation market report from Business Monitor International: “Nigeria Shipping Report Q1 2014” Boston, MA — (SBWIRE) — 12/06/2013 — The short- and medium-term picture for the Nigerian shipping sector appears rosy, with the country’s five…

Alan Mulally, the current CEO of Ford Motor Company, who was up for consideration to take over the position of Microsoft’s new CEO, has been taken out of contention for Steve Ballmer’s soon-to-be-old job. According to a Bloomberg report, the car…

ANNAPOLIS, Md., Dec. 5, 2013 /PRNewswire/ — American Capital Energy & Infrastructure (“ACEI”) announced today that it has committed to invest up to $130 million in Azura Power Holdings Ltd. (“Azura”), the company responsible for developing the Azura…

Dec. 5 (Bloomberg) — As Nigeria’s economy grows — 6 percent this year — so does the wealth of some of it’s citizens. The wealthy few no longer have to shop abroad for their luxury staples because those brands are setting up shop in the African country…

The European Commission approved on Wednesday Microsoft’s nearly 5.5-billion-euro takeover of the mobile phone business of Finland’s Nokia which once dominated the global industry. The acquisition does “not raise any competition concerns, in particular…

Apple has acquired social media analytics firm Topsy for more than $200 million, The Wall Street Journal reported Monday. The newspaper, citing sources familiar with the deal, said it was unclear how Apple planned to use the firm but that it could be…