Business

Aliko Dangote losses $900million in just 24 hours

  Billionaire businessman, Aliko Dangote, reportedly lost a whooping $900million on Friday, January 8, after his company, Dangote Industries Limited, emerged the biggest loser at the end of trading on the Nigerian Stock Exchange. According to Bloomberg Billionaires Index, his wealth fell from $18.4billion on Thursday to $17.5billion on Friday, making him the 114th wealthiest man in the world, down ...

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Elon Musk Overtakes Bezos To Become World’s Richest Person

  Tesla Inc chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man, Bloomberg News reported on Thursday. Including Thursday’s gains in Tesla shares, Musk, 49, had a net worth of more than $188.5 billion, $1.5 billion more than Bezos, the report said. (https://bloom.bg/3nnOz3U) Musk’s personal wealth has been boosted by ...

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China to leapfrog US as world’s biggest economy by 2028

China is due to overtake the US as the world’s biggest economy five years earlier than planned – despite the coronavirus pandemic starting there, experts gave revealed. The Centre for Economics and Business Research said Beijing was on track to race past America in 2028 as its growth rate outstrips rival nations. Publishing the World Economic League Table in its ...

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Elon Musk’s personal fortune rockets after eventful week

After an eventful week for tech entrepreneur Elon Musk, his personal fortune has shot up by more than $15bn.   On Monday, it was announced that his electric car company Tesla has been accepted into the S&P 500, a major US stock market index. This comes after his rocket company SpaceX sent four astronauts into space. On top of testing ...

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Mystery Chinese buyer pays £1.4m for racing pigeon

A racing pigeon has sold at auction for more than £1.4 million to a mystery Chinese buyer. The three-year-old hen called New Kim was sold by Belgian auctioneers Pigeon Paradise (PIPA) in an online auction for 1.6 million euros on Sunday. The sale beat the 1.25 million euros paid last year for male pigeon Armando, dubbed the Lewis Hamilton of the sport ...

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NNPC raises petrol depot price, marketers to sell at N168-N170/litre

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N155.17 per litre from N147.67 per litre.   The PPMC disclosed this in an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali. The memo, a copy ...

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Border Closure: Dangote reacts, says report of sole cement export misleading, mischievous

  The management of Dangote Group has described as misleading reports that the company was granted sole approval to export cement through the land borders. In a statement Tuesday, the company said it was not the only company enjoying such privilege to move goods through the land borders. TGB reported how facts emerged on Monday that despite the border closure policy put ...

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Yahoo Groups to shut down from December 15th

Facing a steady decline in usage over the last several years, Yahoo has made the decision to shut down Yahoo Groups from on December 15. Verizon, which bought Yahoo in 2017, announced the decision on Tuesday which marks the end of the road for one of the largest message board systems on the Web of its time.r that same period, ...

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Nigeria lady who sells hair says there’s no reason why any hair should cost as much as 800k

                                          According to twitter user @bibilomo__, who sells hair, hair sellers have no reason to sell hair to us at exorbitant prices.   She says there’s no reason for any hair to be 800K, while in her comment section, someone notified her of a wig which was going to be sold to her for almost one million naira.                                        ...

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Manchester United sign former PSG striker Cavani

  Manchester United have completed the signing of former Paris-Saint Germain striker Edinson Cavani. The 33-year-old has signed an initial one-year contract with the option of a further 12 months. He is set to earn €11 million (£10m/$13m) per season at Old Trafford, with a potential further €2m in performance-related add-ons, and a €4m signing-on bonus. “Manchester United is one ...

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BMW fined US$18 million for inflating monthly US sales figures

German automaker BMW has been slammed with an $18 million fine for allegedly inflating its sales figures while raising billions of dollars from investors.   The Munich-based company’s North American unit inflated US sales numbers from 2015 to 2019 to close the gap between its actual performance and internal targets, the Securities and Exchange Commission said. The scheme involved a ...

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Facebook opens new office in Lagos

                                                  Facebook on Friday said it would be opening an office in Lagos, Nigeria, as part of its continued commitment and ongoing investment in Africa.   In a statement made available to newsmen in Lagos, said ...

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$6 plastic crown worn by Notorious B.I.G in his last photoshoot sells for $594,750 at auction

            The plastic crown worn by Christopher “Notorious B.I.G.” Wallace in his last photo shoot sold for $594,750 (including Sotheby’s “buyer’s premium” fees and taxes) during an auction Tuesday night –despite its original $6 price tag.   At the auction house’s first hip-hop memorabilia auction, the crown’s original purchaser said he didn’t buy the it for its gold content and ...

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One of world’s rarest diamonds might fetch $30m as it goes on auction next month [photos]

                                                    One of the world’s rarest diamonds, about the size of an egg or a large lollipop, is going up for auction next month and is expected to fetch $12 million to $30 million.  Sotheby’s said that the 102.39-carat diamond, a flawless white sparkler, was the second-largest oval diamond of its kind to be offered at ...

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TikTok USA rejects Microsoft offer

                                          Microsoft said on Sunday it was informed by Bytedance that it would not be selling U.S. operations of TikTok to it.   “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” Microsoft said in a statement. Trump Microsoft said on Sunday it was informed by Bytedance that it would not be ...

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US to block key exports from China’s Xinjiang region

The US is to block key exports from China’s Xinjiang region due to allegations that they are produced using forced labour.   The proposed bans include cotton and tomato products which are two of China’s major commodity exports. The Trump administration has been ratcheting up pressure on China for its treatment of Xinjiang’s Uighur Muslims. In recent years China has ...

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Jeff Bezos’ ex-wife MacKenzie becomes the world’s richest woman

Jeff Bezos’ ex-wife MacKenzie Scott has become the world’s richest woman after Amazon shares surged amid coronavirus lockdowns.   Scott, who owns a 4 percent stake in the ecommerce giant, has added another $30.3 billion to her bank balance in the last year, taking her net worth to a staggering $67.4 billion, according to Bloomberg Billionaires Index. The boost comes ...

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Chelsea complete £50m Ben Chilwell signing from Leicester City

  Chelsea have completed the signing of Ben Chilwell from Leicester City in a deal worth £50 million ($66m), the club confirmed on Wednesday. The left-back has signed a five-year contract with Frank Lampard’s team after they reached an agreement with the Foxes this week. “I am delighted to be joining Chelsea at this very exciting time for the club,” Chilwell told the club’s ...

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US Billionaire, Dan Friedkin Buys Roma Football Club For $700m

Roma on Thursday announced a change of ownership, with US billionaire Dan Friedkin buying the Serie A club for $700 million. Friedkin, 54, takes over the Italian side from American businessman James Pallotta, 62. “AS Roma can confirm that an agreement has tonight been reached between AS Roma SPV, LLC, the majority shareholder of AS Roma S.p.A, and The Friedkin ...

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