Posts published in “Business”

Americans are proving remarkably reliable in how they are spending their federal stimulus payments. The New York Federal Reserve released a study this week that…

Credit Suisse has made further progress in winding down funds connected with Greensill Capital and is able to distribute another $1.7 billion to investors, the bank said on Tuesday.

Chinese government has forced a sweeping restructure on the Ant Group so the financial technology firm acts more like a bank.

Ant Group’s mega $37bn (£27bn) share market launch was derailed by regulators in November over concerns about its finance model.

The latest move is part of a wider crackdown by China to reign in the country’s fast-growing tech platforms.

Reality star and businesswoman Kim Kardashian’s Skims raised $154 million in its latest funding round led by venture firm Thrive Capital to reach a $1.6 billion valuation, the shapewear label said on Friday.

The round also included funding from two existing investors, Imaginary Ventures and Alliance Consumer Growth.

China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years.

Alibaba fined $2.75B by Chinese regulators
01:13Alibaba
The fine, about 4% of Alibaba’s 2019 domestic revenues, comes amid a crackdown on technology conglomerates and indicates China’s antitrust enforcement on internet platforms has entered a new era after years of laissez-faire approach.

United states ecommerce giant Amazon who initially denied that workers had to urinate in bottles at times, but evidence of the practice later emerged and Amazon has finally apologised to a United States politician for falsely denying that drivers are, at times, forced to urinate in plastic bottles.

Mark Pocan, a Democrat from Wisconsin, referenced Amazon making “workers urinate in water bottles” in a tweet.

An investment company, Globetrot property, has promised to employ over 1,000 youths and provide loans for indigent undergraduates and dropouts in Rivers State to enable them to complete their education.

The company said its focus, for now, was mainly agriculture and real estate, saying its application portal called ‘Vestpay’ offers savings, loans, and investment options, pointing out that its offerings and services were not a scam.

Newcastle University is encouraging highly motivated and outstanding students to apply for the Masters in International Business Management degree Scholarships. This programme is open for the academic session 2021-2022.

The purpose of this programme is to help and support international students who want to commence the master’s degree programme at Newcastle University.

The Nigeria minister of Information and Culture, Lai Mohammed, says Nigerian brands like Guinness which run adverts during foreign matches must compulsorily advertise during Nigerian Premier Football League games.

The minister further stated that brands that create their adverts abroad but broadcast them on CNN and other international stations broadcasting in Nigeria will pay a fine of N100,000 each time such adverts are run.