Nasdaq cracks down on IPOs of small Chinese companies
Businessam Staff
September 30, 2019
Nasdaq Inc. is cracking down on initial public offerings (IPOs) of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers. Nasdaq’s attempt to limit these stock market flotations comes as a growing number of them end up raising most of the capital in their […]
Wall Street drops as turmoil in Washington outweighs trade optimism
Businessam StaffSeptember 26, 2019
U.S. stock indexes dipped on Thursday as fresh developments in an inquiry into the impeachment of President Donald Trump offset gains from trade-related optimism fueled by upbeat comments from China. The U.S. House Intelligence Committee released a declassified version of a whistleblower report alleging that Trump used his office to solicit interference in the 2020 […]
Wall Street rises on Trump’s trade comments, Nike hits record high
Businessam StaffSeptember 25, 2019
U.S. stock indexes rose on Wednesday after President Donald Trump said a trade deal with China could happen sooner than expected, while Nike’s shares hit a record high on upbeat quarterly results. Wall Street had a sluggish start after Democratic lawmakers moved to launch an impeachment inquiry into Trump, adding fresh uncertainty for markets already […]
Impeachment drama whipsaws stocks, dollar rises
Businessam StaffSeptember 25, 2019
The latest impeachment drama in Washington whipsawed U.S. stocks, adding another risk to markets already on edge over trade and slowing global growth. The dollar rallied. The S&P 500 bounced to session highs after President Donald Trump said a deal with China could happen “sooner than you think,” speaking to reporters amid the swirl of […]
U.S. stocks drop on trade, regulatory concerns
Businessam StaffSeptember 24, 2019
U.S. stocks fell after comments from president Donald Trump dented hopes on trade and rekindled regulatory concerns for the biggest social media companies. The S&P 500 slid for a third day, with chipmakers leading the loss after Trump accused China of manipulating its currency and stealing intellectual property in remarks just weeks before planned high-level […]
With N23bn loss, equities index dips by 0.17%
Businessam StaffSeptember 24, 2019
Omobayo Azeez As investors returned to the floor of the Nigerian stock Exchange on Monday to commence the week’s activities, the equities’ index dipped by 0.17 percent to close the day following mixed sentiments by the investors. The benchmarked index that tracks the flow of share prices in the market, the All-Share Index (ASI) shed […]
Tech shares lead Wall Street higher; S&P 500 nears record high
Businessam StaffSeptember 19, 2019
A Microsoft-led rally in technology shares pushed U.S. stock indexes higher on Thursday, a day after the Federal Reserve cut interest rates as expected and left the door open for further monetary intervention. Shares of the software giant (Microsoft) rose 2.2% after the company unveiled a $40 billion stock buyback plan, boosting the S&P 500 […]
Asia, Europe stocks rise Thursday following Fed, BoJ rate ease
Businessam StaffSeptember 19, 2019
Asian markets were mostly higher on Thursday after the Bank of Japan (BoJ) kept its ultra-easy monetary policy unchanged following the US Federal Reserve’s interest-rate cut. Mainland Chinese stocks were up on the day, with the Shanghai composite higher by 0.46 percent at about 2,999. Hong Kong’s Hang Seng index, however, declined 1.07 percent to […]
Wall Street falls as energy drags; focus shifts to Fed meeting
Businessam StaffSeptember 17, 2019
U.S. stocks edged lower on Tuesday as a drop in oil prices weighed on the energy sector, while investors stayed away from making big bets ahead of the Federal Reserve’s two-day policy meeting, where it is widely expected to cut interest rates. The energy index fell 1.59% and was the biggest drag on the benchmark […]
Now that Amaechi has lost comfort with $195m security contract to Israeli firm
Samson EchenimSeptember 16, 2019
By Samson Echenim For two years, Nigerians have talked about a “reformed” security contract to an Israeli firm, HLSI Security Systems and Technologies Limited valued at $195 million for securing Nigeria’s maritime domain. It’s been two years of paying $50,000 monthly to a company whose services are yet to be seen, with men of the […]