Business

UBS (UBSN.VX) hiked chief executive Sergio Ermotti's pay by a fifth last year to 10.73 million Swiss francs ($12.30 million), according to the Swiss bank's annual report published on Friday. But UBS's highest paid executive was investment banking chief Andrea...

 ULI HOENESS Germany's center-left deputy chancellor hailed the jail sentence for tax evasion handed to Bayern Munich soccer boss Uli Hoeness and said the directors of Swiss banks that hide such funds should be hauled before the courts. "I hope we...

The Panama Canal Authority has signed a deal to end a major dispute over the multibillion-dollar expansion of the waterway, an official said on Thursday, raising hopes that the consortium behind the project will follow suit before the week...

...Senate C'ttee concludes probe, adjourns sine die BEVERLY HILLS, March 13, (THEWILL) – The Group Managing Director, (GMD) of the Nigerian National Petroleum Corporation (NNPC), Engr. Andrew Yakubu, on Thursday declared that no money is missing from its coffer contrary...

A U.S. judge wrestled on Thursday with a U.S. Justice Department request that Bank of America Corp pay $2.1 billion in penalties after being found liable for fraud over defective mortgages sold by its Countrywide unit. In a second hearing...

MR FEMI OTEDOLA To his admirers and detractors, he is certainly an intriguing personality. His calm mien makes it easy to underestimate him, but that will be at your peril. Mr Femi Otedola, needs no introduction. Rich, successful and sometimes...

...Shell says $1 bln/month oil theft figure probably accurate ...Proposed legal changes curbing Nigeria's oil output ...Some Nigerian risks worsened, Shell says in annual report Royal Dutch Shell lost nearly $1 billion through theft and various disruptions to its Nigerian oil and...

Boeing Co (BA.N) is in discussions with Indian airlines Jet Airways (JET.NS) and Air India AIN.UL about the sale of its 737 MAX jets, one of the aircraft manufacturer's senior sales executives said on Thursday. Speaking to Reuters at an...

J.C. Penney Co Inc (JCP.N) is about to undo the centerpiece of former Chief Executive Officer Ron Johnson's failed vision to take the retailer upmarket. On Thursday, the department store chain is relaunching its home goods sections. It has brought...

Central bank governor alleged $20 bln oil fraud * President suspended governor on unrelated charges * Several previous audits, graft probes ignored Nigeria's president has authorised a forensic audit of the national energy company, the presidency said on Wednesday, after weeks of...