Economy

U.S. mulls South Sudan pressure, cutting aid may not work; U.N. envoy

By Michelle Nichols ADDIS ABABA (Reuters) – The United States is considering how to pressure South Sudan’s President Salva Kiir into peace, but withdrawing aid may not work, U.S. envoy to the United Nations Nikki Haley said ahead of a visit to South Sudanese refugees in Ethiopia on Tuesday. Haley plans to visit Gambella in […]

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Anglo production Q3 output up 6 percent output, platinum cut

LONDON (Reuters) – Anglo American on Tuesday reported a 6 percent rise in total output for the third quarter but said it had cut its platinum production to remove “unprofitable ounces”. It lowered its production guidance for platinum to 2.30-to-2.35 million from 2.35-to-2.40 million ounces following the closure of unprofitable production at Bokoni, which was […]

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Abubakar Malami

Nigerians reacts to FG’s move to takeover accounts without BVN

Some residents of the Federal Capital Territory (FCT) have expressed disparate views over the order of interim forfeiture made by Justice Nnamdi Dimgba of the Federal High Court, Abuja directing that 46 million bank accounts not covered by the Biometric Verification Number (BVN) but domiciled in 19 Banks be taken over by the federal government. […]

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Doing the heavy lifting: investors eye tech-tonic shifts for Europe’s industrials

By Kit Rees LONDON (Reuters) – Investment funds seeking to invest at the intersection of Europe and technology are finding rich pickings in places that some may find surprising: sprawling industrials like trains-to-turbines Siemens and engineering group ABB. Building on their traditional expertise in factory automation, the conglomerates’ digital divisions are adding cutting-edge software and […]

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Brazilian phone carrier Oi suffers two setbacks in debt restructuring

SAO PAULO (Reuters) – Brazilian phone carrier Oi SA faced two setbacks from the government on Monday in its efforts to pull off the country’s biggest-ever in-court debt restructuring. Brazilian telecoms regulator Anatel rejected the company’s request to swap billions of reais in regulatory fines for new investments. Anatel said in a statement that the […]

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U.S. government should manage climate risks as costs soar: GAO report

By Valerie Volcovici WASHINGTON (Reuters) – The U.S. federal government should adopt a strategy to manage climate change risks, as their cost to the government may rise as much as $35 billion per year by mid-century, a congressional watchdog office report released on Monday said. The report from the non-partisan Government Accountability Office comes as […]

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U.S. companies act on climate despite Trump: survey

OSLO (Reuters) – U.S. companies are still among the most ambitious in setting targets to combat global warming despite President Donald Trump’s plans to quit the 195-nation Paris climate agreement, a 2017 survey showed on Tuesday. U.S.-based firms made up a fifth of those in a 2017 “A list” of 159 companies judged to have […]

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Less wealth tied to higher odds of disability and premature death

By Lisa Rapaport (Reuters Health) – People with fewer assets like real estate, savings, stocks and retirement accounts may be more likely to develop disabilities or die prematurely than wealthier individuals, a new study suggests. While plenty of previous research has documented health problems associated with poverty, the current study looked beyond just income to […]

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Solar industry fears for thousands of jobs should U.S. impose import restrictions

By Florence Tan SINGAPORE (Reuters) – Singapore-headquartered solar panel maker REC hopes to be exempt from potential U.S. restrictions on imports following a recent trade finding that said no significant injury to the United States had been caused by makers including those from Australia, Canada and Singapore. U.S. President Donald Trump is expected to announce […]

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BofA fortifies online banking with new security layer

(Reuters) – Bank of America Corp <BAC.N> will start using an additional layer of authentication for its online banking services, the Wall Street bank said on Monday, amid a wave of high-profile data breaches at several big U.S. companies. BofA said it would incorporate Intel Corp’s <INTC.O> Online Connect technology, that enables fingerprint touch payments, […]

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Ghana to open bids for energy bonds worth 6 bln cedis ($1.36 bln)

ACCRA (Reuters) – Ghana will start receiving bids on Tuesday for domestic bonds worth 6 billion cedis (1.36 billion) to settle energy-sector debts that accumulated over the last decade, lead arrangers said on Monday. The 7-year and 10-year bonds to be priced on Thursday form part of government’s plans to raise a total of 10 […]

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Platinum miner Lonmin to cut over 1,000 jobs in South Africa: union

LONDON (Reuters) – Platinum miner Lonmin plans to cut over 1,000 jobs before Christmas, South Africa’s Solidarity union said on Monday, due to persistently low commodity prices and rising costs. “Because of these cost pressures, Lonmin has decided to place a number of its marginal shafts under care and maintenance and that is the reason […]

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