US Economy

Armed group blocks key Libya oil field for a week

277,040 barrels of crude oil lost via illegal oil bunkering

The Nigerian Navy, said that the nation lost over a whopping 277,040, barrels of crude oil through illegal oil bunkering activities in 2019. This was as the nation also lost about 223.1million liters of Automated Gasoline Oil(AGO), and 1.2million liters of Dual Purpose Kerosene(DPK), at the same time. Chief of Training And Operations (COPP), Rear […]

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U.S. cuts crude oil imports from Nigeria by 62 pct

The United States cut its crude oil imports from Nigeria by 62.08 per cent to 3.92 million barrels in March, the lowest monthly level since February 2016. The latest data from the US Energy Information Administration seen by our correspondent on Friday showed that the country imported 10.03 million barrels and 10.34 million barrels in […]

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Wells Fargo to pay $1B for mortgage, auto lending abuses

Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in a wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion will go directly the victims of Wells Fargo’s abuses. Wells will pay $500 million to […]

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US businesses add a healthy 241,000 jobs in March: survey

U.S. companies hired 241,000 new workers in March, a solid total that suggests the already-low unemployment rate may be headed lower in the coming months. Payroll processor ADP says the gains were strong across different industries, with construction, manufacturing and professional services such as accounting showing healthy gains. The figures come two days before the […]

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Human rights lawyers link stolen Nigeria crude to Philadelphia, USA

Human rights lawyer and Senior Advocate of Nigeria (SAN), Femi Falana, yesterday revealed one of the destinations where stolen crude oil from Nigeria was taken to without the knowledge of the Federal Government. Through the efforts of a group of lawyers of like mind, Falana said that some ships that carried stolen crude from Nigerian […]

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ANALYSIS-Trump ‘energy dominance’ policy pits Washington against Moscow

Last July, U.S. President Donald Trump stood beside his Polish counterpart, Andrzej Duda, in Warsaw and promised to help wean the nation off Russian energy imports. He offered U.S. fuel as an alternative, “so that you can never be held hostage to a single supplier.” Trump was tapping into longstanding European concerns about Russia’s ability […]

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Amazon set to launch its own delivery service: wsj report

Amazon is preparing a limited launch of a delivery service that would compete directly with services like Fedex and UPS, the Wall Street Journal reported Friday. Citing unnamed sources, the newspaper said the US online and retail giant expects to begin a delivery service in Los Angeles in coming weeks with third-party merchants that sell […]

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Neste says U.S. tax credit to lift Q1 profit

Finnish oil refiner and biofuel producer Neste expects the reinstatement of the renewable fuel tax credit in the United States to increase its first quarter profit, the company said on Friday. The retroactive approval of the 2017 biodiesel credit was part of the budget deal approved by the U.S. Senate and House of Representatives, averting […]

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U.S. oil industry set to break record, upend global trade

Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And this new record, expected within days, likely won’t last long. The U.S. government forecasts that the nation’s […]

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Adidas aim to increase its US market share to 20 pct – paper

German sportswear maker Adidas wants to increase its U.S. market share to around 15-20 percent from levels that are now “significantly lower”, its chief financial officer said. “In every market we have a share of at least 15 to 20 percent,” CFO Harm Ohlmeyer told the Boersen Zeitung in an interview published on Saturday. “Our […]

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Trump says program to protect ‘Dreamers’ is ‘probably dead’

President Donald Trump said Sunday that a program that protects immigrants who were brought to the U.S. illegally as children is “probably dead,” casting a cloud over already tenuous negotiations just days before a deadline on a government funding deal that Democrats have tied to immigration. At issue is the Deferred Action for Childhood Arrivals […]

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Walmart starting pay rises to $11 an hour, including bonuses

Walmart, the world’s largest private employer, is boosting its starting salary for U.S. workers to $11 an hour, handing out one-time cash bonuses to those who don’t benefit from the pay hike and expanding its maternity and parental leave benefits. The company said the moves that will affect more than a million hourly workers in […]

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