Business

… Raises 4-man Committee To Verify Accruals, Withdrawals From Federation, Excess Crude Accounts SAN FRANCISCO, June 29, (THEWILL) – Following revelations that state owned Nigerian National Petroleum Corporation (NNPC) earned N8.1 trillion, remitted only N4.3 trillion into the account of...

SAN FRANCISCO, June 29, (THEWILL) – The Nigerian naira on Monday fell sharply against the United States dollar trading at N226 - $1 in the parallel market (black market) from its close of N220 last week. Forex dealers, who spoke...

SAN FRANCISCO, June 29, (THEWILL) – Mr. Mordecai Danteni Baba Ladan has been appointed as the new Director of the Department of Petroleum Resources (DPR) by the President Muhammadu Buhari led federal government. Ladan, whose appointment takes immediate effect succeeds...

The borrowing cost on a key source of overnight loans for Wall Street rose on Monday as a breakdown in talks between Greece and its creditors caused a mad dash for cash to fund trades in advance of the...

U.S. stocks extended their losses in heavy trading on Monday, adding to a global selloff, after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the euro zone. All three major indexes...

European bank stocks and borrowing costs for Italy, Spain and Portugal bore the brunt on Monday of financial markets' fright at the growing risk that Greece will leave the euro. The worst fall in shares for six months and a...

Rising interest rates after years of loose monetary policy will pose a fresh risk to banks' ability to absorb losses using capital buffers, the Bank for International Settlements said in its annual report on Sunday. A prolonged period of ultra-low...

Martina Roemmelt-Fella, who owns a small, family-run turbine manufacturer in Bavaria, should be a cheerleader for a trade deal between Europe and the United States that promises to ease the flow of goods and services across the Atlantic. But instead...

Greek Prime Minister Alexis Tsipras called a referendum on austerity demands from foreign creditors on Saturday, rejecting an "ultimatum" from lenders and putting a deal that could determine Greece's future in Europe to a popular vote. The surprise call marked...

FedEx (FDX.N) has asked the European Union's competition regulator to approve its 4.4-billion-euro ($4.9 billion) bid for Dutch rival TNT Express (TNTE.AS), the U.S. package delivery service company. The deal, which will combine FedEx's air fleet with TNT's sizeable European...