Stock selloff snowballs on fresh fears for world growth
Businessam Staff
December 10, 2018
Losses on global stocks snowballed on Monday, with European markets following Asian peers lower as fresh signs emerged of slowing growth worldwide and fears grew that simmering U.S.-China tensions would torpedo chances of a trade deal. Wall Street was set to open lower, futures indicated, after New York-listed shares posted their biggest weekly decline since […]
Asian stocks retreat on falling US yields, global worries
Oyindamola AlamuDecember 6, 2018
Oyindamola Alamu With agency report Asian stocks fell across board, after Wall Street U.S equities dropped, though declines futures rose after China pledged to start delivering on trade agreements reached with America. Stocks fell in Japan, Korea, Australia and Hong Kong, and China’s yuan gave up some of its recent surge. The break in trading […]
Qatar’s decision to leave OPEC to have no major impact on the global oil market, say Fitch analysts
Bukola OdufadeDecember 4, 2018
Analysts at Fitch Solutions Macro Research have said that Qatar’s decision to leave the Organisation of Petroleum Exporting Countries (OPEC) is unlikely to have a major detrimental impact on OPEC’s ability to manage the oil market. “We estimate that Qatar’s move, while likely to fuel tensions with its GCC [Gulf Cooperation Council] neighbours, will not […]
Emerging cities could attract $29trn in climate-investments, says World Bank
Temitayo AyetotoNovember 29, 2018
Cities in emerging markets could attract $29 trillion in climate-related investments like green buildings and electric vehicles over the next decade, according to the World Bank’s International Finance Corporation (IFC) on Thursday. Researchers looked at climate action plans of cities with more than 500,000 people, focusing on six sectors: green buildings, public transport, electric vehicles, […]
On a roll with FDA approvals, Pfizer doubles down in AML with Daurismo nod
Businessam StaffNovember 27, 2018
Make that four drug approvals for Pfizer’s oncology unit in less than two months. In a welcome streak for the pharma giant—what with Lyrica generics looming—the FDA handed out a go-ahead for Daurismo, a treatment for acute myeloid leukemia. The new approval puts Daurismo, in tandem with low-dose cytarabine chemo, in line to treat newly diagnosed adults aged 75 […]
After denials, Bayer eyeing consumer brand and animal health selloffs, says report
Businessam StaffNovember 27, 2018
It was only two weeks ago that Bayer CEO Werner Baumann told reporters that the company wasn’t discussing “any strategic considerations” for its troubled animal health and consumer units. But behind the scenes, Bayer’s executives may be plotting big changes for those businesses, according to a new report. Bayer is planning a board meeting this week, […]
Investors withdraw over $14bn from emerging markets on global trade conflicts
Adesola AfolabiJuly 18, 2018
*IMF gives conflict navigation tips to emerging economies The International Monetary Fund (IMF) has said over $14 billion dollars have been withdrawn by investors from emerging markets in May and June of this year further complicating situations in these markets. Christine Lagarde in an article released Wednesday via the IMF blog also indicated that […]
China to benefit from increased export of U.S. agricultural products
Businessam StaffMay 22, 2018
Increasing the export of U.S. agricultural products will improve China’s effective supply in its domestic market and broaden consumption choices, an expert told People’s Daily during a recent interview. China and the U.S. issued a joint statement last Saturday in Washington after economic and trade talks, agreeing to meaningfully increase the export of U.S. agricultural […]
Wet wipes face ban in UK for constituting 93% of sewer blockages while product booms in Nigeria
Chukwuemeka ObiomaMay 9, 2018
Wet wipes, used for sticky fingers and removing eye make-up, as well as on other anatomy use could be phased out in the United Kingdom for constituting 93 percent of sewer blockages, according to a BBC report monitored in Lagos. This is just as the product is booming in Nigeria without regulation amid widespread flooding […]
Air France shares tank amid CEO’s resignation
Businessam StaffMay 7, 2018
Air-France- KLM Group is facing its biggest crisis in years as chief executive officer Jean -Marc Janaillac prepares to quit amid a deepening labour conflict which the French government warned is threatening its survival. According a wire service report, the stock dropped Monday, when Europe’s biggest airline was forced to scrap 15 percent of its […]