Business

UPDATE: Governor of the CBN, Mr. Godwin Emefiele Tuesday officially announced the introduction of a flexible foreign exchange rate regime that would effectively devalue the naira against the United States dollar at the official window. The governor, who announced this during...

Commodity currencies traded in red across the board early Tuesday as risk aversion and dropping commodity prices continued to weigh on high yielding currencies. The Aussie fell by more than 30 pips against the US Dollar to trade below...

Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output, returning investor attention to a global glut. Adding to signs the oil market will remain oversupplied, data showed last week...

Saudi Arabia won support for its economic reform plan from one of the world's biggest companies on Monday as General Electric Co (GE) (GE.N) said it would double its workforce in the kingdom to 4,000 people by 2020. GE will...

German drugs and crop chemicals group Bayer has offered to buy U.S. seeds company Monsanto for $62 billion in cash, defying criticism from some of its own shareholders in a bid to grab the top spot in a fast-consolidating...

Tribune Publishing Co (TPUB.N), the owner of the Los Angeles Times and the Chicago Tribune, rejected Gannett Co Inc's (GCI.N) latest takeover offer but said it would allow Gannett to access some confidential corporate information. Tribune also said on Monday...

Stock markets violently oscillated between losses and gains during trading on Monday as the mounting Brexit anxieties coupled with heightened expectations over the Fed raising US rates in Q2 encouraged investors to scatter from riskier assets. Confidence towards the...

Gold concluded trading for last week under heavy selling pressure with the metal not only recording its third consecutive weekly losses, but also declining towards levels not seen since late April below $1250. The major reason for the weakness...

The United States issued a fresh warning to Japan against intervening in currency markets on Saturday as the two countries' differences over foreign exchange overshadowed a Group of 7 finance leaders' gathering in the Asian nation. Japan and the United...

The top U.S. securities regulator is taking aim at exchange-traded funds, with the agency's chair on Friday saying that recent events have called for giving the popular funds "enhanced attention." The statements by Mary Jo White, chair of the Securities...