Uber settles with Waymo on self-driving

Businessam StaffFebruary 12, 2018

Uber and Waymo have reached a settlement over claims Uber stole trade secrets from the self-driving company. As part of the agreement, Uber is giving a 0.34 percent Uber stake to Waymo, worth approximately $245 million (£177m). Uber has also agreed not to use Waymo’s technology in its self-driving cars, though it maintains it never […]

Equity Assurance announces name change, now Sunu Assurances Nigeria

Businessam StaffFebruary 12, 2018

Equity Assurance Plc. has announced name change to Sunu Assurances Plc. The company in a notification to all stakeholders said having passed the necessary special resolution in line with section 31 (3) of the Companies and Allied Matters Act (CAMA), Cap20, laws of the federation, 2004, and obtaining the approval of the Corporate Affairs Commission […]

Chinese textile giant buys Swiss luxury brand Bally amid global shopping spree

Businessam StaffFebruary 10, 2018

Mainland Chinese textile and apparel producer Shandong Ruyi Group has bought a controlling stake in Bally International AG, the 167-year-old Swiss luxury brand, its latest buy in a global shopping spree where it has picked up French fashion group SMCP and British trench coat maker Aquascutum. Ruyi, based in eastern Shandong province, has signed definitive […]

Airbus ordered to pay $99m fine in Eurofighter case

Businessam StaffFebruary 10, 2018

German prosecutors have ordered Airbus to pay 81.25 million euros (71.98 million pounds) to settle one of two investigations into alleged corruption surrounding the sale of Eurofighter combat jets to Austria in 2003, the two sides said on Friday. The settlement includes an administrative fine of 250,000 euros and “disgorgement” – which legal experts broadly […]

Twitter now worth more than Snap as shares soar

Goddey OdinFebruary 9, 2018

Twitter now has a bigger market cap than Snapchat maker Snap after posting a thoroughly interesting earnings beat for its fourth quarter Friday morning. Shares of the social media giant rocketed more than 25% this morning following the report, which showed the service is actually able to generate a profit on a GAAP basis. Twitter […]

Afromedia Plc appoints Olufemi Olaiya executive director

BusinessamFebruary 7, 2018

Afromedia Plc has appointed Olufemi Sunday Olaiya executive director and chief operating officer of its media business. In a notification to the Securities and Exchange Commission (SEC), the company said in accordance with its articles of association, it has appointed Olufemi Sunday Olaiya as the executive Director/C.O.O media business units of the company to replace […]

Multinational media group, OLX, shutdown Nigeria office

Businessam StaffFebruary 7, 2018

Multinational media group and investor Naspers has confirmed closing all OLX offices in Africa except the one in South Africa. Operations in Ghana, Nigeria and Kenya are going to be affected by this announcement. According to a report on Innovation Village, staff in these offices have been informed and are expected to fully move out by the […]

CIAPS workshop to help companies see opportunities in clients, staff complaints

Bukola OdufadeFebruary 5, 2018

The Ikeja, Lagos-based Centre for International and Professional Studies (CIAPS) has said that Nigerian companies are failing to see the opportunities that exist in encouraging constructive complaints in their clients and staff. Anthony Kila, a professor, and director of the centre, told business a.m. during an interview that companies operating in Nigeria are failing to […]

Aviation union pickets Bristow, Caverton Helicopters

February 1, 2018

 The National Association of Aircraft Pilots and Engineers (NAAPE), on Thursday shut down the operations of Bristow and Caverton Helicopters at the Murtala Muhammed Airport, Lagos. The union also ordered its members in both airlines to withdraw their services indefinitely until all the pending issues involving their welfare are resolved. NAAPE said the protest was over the […]

FBN Holdings appoints Ani-Mumuney chairperson, FBN Insurance Brokers

Businessam StaffJanuary 31, 2018

FBN holdings, parent company of First Bank Nigeria Limited, has reconstituted the board of its subsidiary, FBN Insurance Brokers with Folake Ani-Mumuney appointed chairperson of the board of directors. In a notification to the Nigerian Stock Exchange (NSE), shareholders and the general public, Wednesday, the company also indicated that the duo of Seye Kosoko and Seyi […]