Business

Nigeria's commercial lenders have stopped accepting cash deposits in dollars, in a move to discourage speculation on the naira currency, two banks said on Friday. "Banks no longer accept dollar cash due to large speculation on the currency," the chief...

SAN FRANCISCO, July 30, (THEWILL) – Standard Chartered Bank, one of Nigeria’s most liberal banks in terms of handling customers’ foreign exchange dealings has told customers it would no longer accept foreign exchange deposits in cash due to an...

The United States Trade and Development Agency (USTDA) Thursday in Lagos announced a grant of $997.4 million dollars as training support for the proposed refinery by the Dangote Group.   The grant was announced at the signing of a Memorandum of...

Time Warner Cable Inc (TWC.N), which is being bought by Charter Communications (CHTR.O), reported lower-than-expected revenue for five quarters in a row as it lost about 45,000 residential video customers. Cable companies have been struggling with declining subscriber numbers as...

Facebook Inc's (FB.O) plans to focus spending on its two messaging services, Instagram and its virtual reality headset business was cheered by Wall Street analysts, who said the efforts would boost long-term growth. Of the 50 brokerages covering the stock,...

Virgin America Inc (VA.O), a low-cost airline partly owned by Richard Branson, reported a 76 percent jump in quarterly profit, helped by higher U.S. travel and lower fuel costs. The company's net income rose to $65 million in the second...

The Nigerian National Petroleum Corporation (NNPC) says the Port Harcourt and Warri refineries have commenced preliminary production of petroleum products after successful test-runs. The Group General Manager, Group Public Affairs Division of NNPC, Mr. Ohi Alegbe, in a statement on...

The Dow Jones industrial average and the S&P 500 were slightly higher on Wednesday while the Nasdaq composite edged lower, as investors assessed earning ahead of a statement from the U.S. Federal Reserve that could give clues regarding the...

Credit and debit card issuer MasterCard Inc (MA.N) reported lower-than-expected quarterly revenue as the company offered more rebates and incentives to win new and renewed deals. Shares of MasterCard, which operates the world's second largest payment network, fell about 3...

Twitter Inc (TWTR.N) interim CEO Jack Dorsey's criticism of the company's efforts to woo new users may just be the first step to address its long-standing problems. But being frank is not enough. To generate long-term earnings growth and satisfy investors,...