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Posts published in “Finance”

Buffett’s Berkshire buys Aon, slashes Chevron and Wells Fargo

Berkshire Hathaway Inc (BRKa.N) said on Monday it has taken a $943 million stake in insurance brokerage Aon Plc (AON.N) and sold large portions of its investments in Chevron Corp (CVX.N) and Wells Fargo & Co (WFC.N).

The changes were disclosed in a regulatory filing detailing Berkshire’s U.S.-listed holdings as of March 31.

American Households including Children to get Monthly Stimulus Payment

A poverty-fighting measure included in the COVID-19 relief bill passed this year will deliver monthly payments to households including 88% of children in the United States of America starting in July, Biden administration officials said on Monday.

The Democratic-backed American Rescue Plan, signed into law by President Joe Biden in March as a response to the coronavirus pandemic, expanded a tax credit available to most parents.

Personal finance startup NerdWallet files for U.S. IPO -sources

NerdWallet Inc, the owner of the eponymous consumer financial advice website, has confidentially submitted paperwork to U.S. regulators for an initial public offering (IPO), people familiar with the matter said on Friday.

NerdWallet has hired a group of investment banks, led by Morgan Stanley (MS.N), to arrange the IPO and is aiming to go public before the end of the year, the sources said. The San Francisco-based company could seek a valuation of as much as $5 billion, two of the sources added.

Global equity funds receive biggest money inflow in four weeks – Lipper

Global investors continued to buy equity funds in the week ended May 12, driven by hopes of an economic rebound and expectations of faster vaccine rollouts to curb the pandemic.

According to Refinitiv data, global equity funds received $15.1 billion worth of inflows, the biggest in four weeks.

Google Pay launches International Money Transfers with Wise and Western Union

Alphabet Inc’s (GOOGL.O) Google has launched international money transfer partnerships with remittances firms Wise and Western Union Co (WU.N) for users of its U.S. payments app, the companies said on Tuesday.

CBN extends naira-4-dollar deadline to boost remittances

The Central Bank of Nigeria has extended indefinitely its ‘Naira 4 dollar scheme’ earlier scheduled to end on May 8, 2021.

It disclosed this on Thursday in a circular to all Deposit Money Banks, International Money Transfer Operators and the general public, titled ‘Re: Introduction of the CBN’s “Naira 4 dollar scheme” for diaspora remittances’.

Mastercard says More Nigerians open to digital payments

A new Mastercard payments index has shown that 96 per cent of Nigerian consumers are open to emerging payment methods, including cryptocurrencies.

In a research carried out on Nigerian consumers, the company found that an increasing number of consumers in Nigeria are considering emerging payment methods such as wearables, biometrics, digital wallets and currencies, and QR code, in addition to contactless.

Paystack Expands Operation to South Africa

Nigerian fintech startup, Paystack, launched in South Africa on Thursday.

The payment solution company, which operates in Nigeria and Ghana, is expanding its tentacles to the southern part of Africa.

Federal Government Grants Dangote Cement ₦22.32bn Tax Credit

Report reaching us says the Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc, tax credit certificates valued at ₦22.321billion.

The tax credit certificates are for construction of Apapa-Oworonshoki-Ojota road in Lagos and Lokoja-Obajana-Kabba road straddling Kogi and Kwara states.

Apple soars past sales, profit targets, warns of chip shortages

Apple Inc (AAPL.O) on Wednesday posted sales and profits ahead of Wall Street expectations fueled by 5G iPhone upgrades but warned a global chip shortage could dent iPads and Mac sales by several billion dollars.

Fiscal second-quarter sales to China nearly doubled and results topped analyst targets in every category, led by $6.5 billion more in iPhone sales than predicted and Mac sales about a third higher than estimates.