Huawei founder, executives to pay $469,000 fine over quality breaches

January 19, 2018

Ren Zhengfei, HUAWEI Technologies co-founder

Ren Zhengfei, HUAWEI Technologies co-founder, and top executives will pay a self-imposed fine totaling $469,000 for management oversight of some quality breaches at the firm, an internal company memo shows on Friday. According to a notice sent to Huawei member of staff, Ren said there had been cases of “quality breach and business falsification” at […]

U.S. Wells Fargo employs top leaders to boosts its public policy ,external relations capabilities

January 19, 2018

America’s 25th largest corporation, Wells Fargo on Thursday announced that it has employed three new leaders, Beth Zorc, Eric Hoplin, and Shannon Aimone, as part of the growth of its recently-formed government Relations and Public Policy (GRPP) group under the leadership of David Moskowitz, GRPP Head. These individuals will be at the company’s Washington office […]

TPG Growth to acquire TRACE, Africa’s music, entertainment company

Businessam StaffJanuary 19, 2018

TPG Growth (TPG), the middle market and growth equity investment platform of global alternative asset firm has signed a definitive agreement to acquire a majority stake in TRACE, the afro-urban music, and entertainment media, according to report by Africa Business Communities. The remaining stake will be owned by TRACE’s co-founder and management team. TPG Growth […]

UK Royal Mail taps into e-commerce as Nigeria’s NIPOST nears unbundling

January 18, 2018

UK Royal Mail has effectively tapped into logistics deployment, becoming the number one promoter of e-commerce in the United Kingdom, according to Moya Greene, the chief executive officer. This comes as its Nigerian counterpart, Nigerian Postal Services (NIPOST) is being considered for unbundling to have standalone business components that will project it for efficient service and […]

FCMB announces board appointments

Businessam StaffJanuary 18, 2018

FCMB Plc. has announced the appointment of two additional non-executive directors to its board following approval by the Central Bank of Nigeria (CBN). The two new directors are Oladipupo Jadesimi and Olapeju Sofowora. Ladi Jadesimi holds an Oxford MA degree in Law and had served as jurisprudence scholar at the University of Oxford between 1963 […]

GE appoints new CEO for Europe

Businessam StaffJanuary 17, 2018

General Electric (GE), the American industrial conglomerate, has appointed Peter Stracar chief executive and president of its European region, the company said in a statement. Stracar, who has been chief executive of GE Central and Eastern Europe since 2013, succeeds Mark Hutchinson, who the company said retired from GE as of January 1, 2018 The […]

Maersk partners IBM to launch blockchain-based platform for global trade

Businessam StaffJanuary 16, 2018

The world’s largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars. The global shipping industry has seen little innovation since the container was invented in the 1950s, and cross-border trade still leaves an enormous trail of […]

Samsung plans to double revenues of its Africa’s market

Businessam StaffJanuary 15, 2018

South Korea’s Samsung Electronics plans to double the annual revenue contribution from its African markets to 20 percent of the firm’s global total in the next five years, the head of its business on the continent said on Monday. According to Reuters’ report, Sung Yoon said the electronics giant, which accounts for over half of […]

Airbus outsells Boeing, sets sights on deliveries crown

Businessam StaffJanuary 15, 2018

Airbus SE widened its order lead over Boeing Co. in 2017 following a record year of jet sales, prompting the European manufacturer to talk up prospects for overtaking the North American giant by deliveries. Airbus booked contracts for 1,109 airliners, or 52 percent more than in 2016, the Toulouse, France-based company said in a statement […]