U.S. increases cost of visa application for Nigerians
Businessam Staff
August 27, 2019
The United States has increased the cost of visa application for Nigerians. The US Consulate announced this in a statement explaining that it was “reciprocating” the extra visa fee the Nigerian government charges American citizens. The consulate explained that the extra cost will be applicable to only those whose visa requests were granted. The […]
US goods trade deficit widens in October, inventories fall
ReutersNovember 28, 2017
The US goods trade deficit increased sharply in October and inventories declined broadly, which could temper expectations of strong economic growth in the fourth quarter. The Commerce Department said on Tuesday the goods trade gap jumped 6.5 per cent to US$68.3 billion last month amid an increase in imports of industrial supplies, consumer and other […]
End of NAFTA to trim 0.55% off Canada’s economy- report
Businessam StaffNovember 27, 2017
A new report concludes the end of the North American Free Trade Agreement would trim just over half a percentage point from Canada’s economy. It finds that the end of NAFTA would shave 0.55% off Canada’s gross domestic product (GDP), push 25,000-50,000 Canadians from the workforce, and reduce exports by 2.8%. The report comes from […]
Statistics Canada to include marijuana in GDP accounts
Businessam StaffNovember 21, 2017
Canada will start measuring the use and production of non-medical cannabis as the country prepares to legalise the drug. Statistics Canada said Tuesday, according to Bloomberg that it will begin making estimates of current illegal production, sale, and use of marijuana to provide a clearer picture of the “economic and social consequences of the legalization” […]
U.S. consumer prices edging up on rising rent, healthcare costs
Businessam StaffNovember 15, 2017
Although U.S. consumer prices barely rose in October, the boost to gasoline prices from hurricane-related disruptions to Gulf Coast oil refineries remained unwound, just as rising rents and healthcare costs point to a gradual buildup of underlying inflation. The Labor Department said its consumer price index edged up 0.1 percent last month after jumping 0.5 […]
Goldman Sachs launches $5bn fund with China to give US companies better access, says CEO
Businessam StaffNovember 9, 2017
Lloyd Blankfein said Thursday that Goldman Sachs’ agreement to establish a $5 billion investment vehicle with China’s sovereign wealth fund is aimed at putting money into “U.S. companies that could be helped by better access to China,” according to CNBC report. The China Investment Corporation and Goldman have pledged to split the investment, with each […]
Fed holds rates steady, expects to cut balance sheet ‘relatively soon’
Businessam StaffJuly 27, 2017
The Federal Reserve kept interest rates unchanged on Wednesday and said it expected to start winding down its massive holdings of bonds “relatively soon” in a sign of confidence in the U.S. economy. The Fed kept its benchmark lending rate in a target range of 1 per cent to 1.25 per cent, as expected, and […]
US Fed faces prospect of global monetary policy tightening
Businessam StaffJuly 24, 2017
Prospects for tighter monetary policy in Europe and other countries could pose a fresh problem for the Federal Reserve when it meets next week to ponder its plan to reduce its $4.2 trillion bond portfolio purchased after the 2008 financial crisis. The Fed bought U.S. Treasuries and mortgage-backed securities (MBS) for about six years in […]
Report: Major cloud services attack could cost $53 billion
Businessam StaffJuly 19, 2017
What trait does a global cyerattack and a hurricane share? Both could cost insurers – and victims – dearly, according to a report published Monday by insurance giant Lloyd’s of London. A global, major attack on cloud computing services could cost an average of $53 billion, according to the report, which was co-written with Cyence, a […]
U.S. banks’ $150bn investment funds hang on wing of stress test results
Kelvin EgerueJune 19, 2017
Thursday’s expected release of stress test on American banks is expected to open floodgate of investments and stock buybacks by banks, which are itching to buoy their profitability and thus capacity to pay enhanced dividends, reports Reuters. Investors are hoping America’s Federal Reserve will allow big U.S. banks to put an estimated $150 billion in […]