Business

Barclays shares closed down 7% after reporting a drop in full-year profits, a dividend cut and a restructuring including reducing its stake in Africa. Underlying annual profits for 2015 fell 2% to £5.4bn. The bank said it would cut its...

BEVERLY HILLS, February 29, (THEWILL) – The naira depreciated in value against the dollar across foreign exchange (FX) markets due to shortage of the greenback. Specifically, the naira lost N20 or 6.45 percent to close at N330/$, compared with N310/$...

Online retailer Amazon (AMZN.O) is set to enter the British fresh food market after striking a supply deal with supermarket Morrisons (MRW.L), potentially ramping up competition in the already cut-throat sector. Morrisons, Britain's fourth biggest supermarket, said on Monday the...

For leading U.S. shale oil producers, $40 is the new $70. Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less...

China said on Monday it expects to lay off 1.8 million workers in the coal and steel industries, or about 15 percent of the workforce, as part of efforts to reduce industrial overcapacity, but no timeframe was given. It was...

SAN FRANCISCO, February 26, (THEWILL) – Sustained Investments in agriculture and energy can lead to and sustain economic transformation across Africa, Tony Elumelu, chairman, Heirs Holdings, UBA plc and Transcorp plc, has said. He spoke on the ‘Role of the...

BEVERLY HILLS, February 26, (THEWILL) – The naira traded at 320 to a dollar on the parallel market on Friday, after five days of speculations, trades, drama and controversies. The week had witnessed a dramatic rise of the naira which...

Pratt & Whitney (UTX.N) has suffered a fresh problem during testing of new aircraft engines for the Airbus A320neo, but flight trials of the latest version of Europe's best-selling airliner are continuing, people familiar with the matter said. The problem...

Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) is in talks with several banks to borrow up to $4 billion to fund expansion plans, including acquisitions, the Wall Street Journal reported on Friday, citing people familiar with the matter. The...

Brent crude oil hit its highest level since early January on Friday and was on track for its first weekly gain in a month as strong U.S. gasoline demand and supply disruptions outweighed concerns about a fundamental glut. Brent crude...