Kelleher and Bessent held talks in recent months about what a move to the US would look like for the lender, with the Trump administration receptive to welcoming one of Switzerland’s most prized assets, according to three people familiar with the conversation. The talks with Bessent are part of an ongoing effort by Kelleher to […]
VFD Group successfully redeemed its N12.83 Billion Series 5 Commercial Paper on its maturity date, reinforcing strong liquidity and disciplined balance sheet management. The redemption strengthens investor confidence amid market volatility and supports the ongoing N50 Billion Rights Issue scheduled to close on November 24, 2025. Since launching its CP Programme in 2022, VFD has […]
Oil prices are set to further drop into next year from current levels amid a large surplus on the market, with the U.S. benchmark WTI Crude expected to average $53 per barrel in 2026, according to Goldman Sachs. Early on Tuesday, WTI Crude was trading just above $60 per barrel, at $60.09, up by 0.22% on the […]
Nigeria’s second largest bank by asset base and market capitalization, Zenith Bank is seeking to acquire Kenya’s Paramount Bank and has sought regulatory approval to proceed with the transaction Zenith would join other Nigerian banks that have expanded in Kenya, such as Access Bank, which acquired the National Bank of Kenya from the KCB Group […]
While optimistic economists argue that America can grow its way out of a debt crisis, pessimists believe the real outcome will be somewhat less popular. Business leaders, policymakers, and investors are growing increasingly concerned by the United States’s borrowing burden, currently sitting at $38.15 trillion. The worry isn’t necessarily the size of this debt, but […]
Companies have pledged to invest 9.2 billion euro ($10.7 billion) in France, the finance ministry said on Monday, as the government seeks to show the euro zone’s second-biggest economy remains a top business destination despite political turmoil. French firms in sectors from energy to health and agri-food made the commitments ahead of a government-organised “Choose […]
U.S.-based cloud services provider GMI Cloud said on Monday it will build a $500 million artificial intelligence data centre in Taiwan with the support of U.S. chipmaker. The data centre will come online by March 2026 and will run on Nvidia’s new Blackwell GB300 chips. The facility will house about 7,000 GPUs across 96 high-density […]
The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as Opec+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday. “Global oil market balances are looking increasingly lopsided, as world oil supply is forging ahead while oil […]
British utility SSE unveiled a 33 billion pound five-year investment plan on Wednesday, including a 2 billion pound ($2.68 billion) equity fundraising, as it seeks to upgrade the UK’s regulated electricity networks and bolster its renewables business. SSE’s shares rose more than 11% to a record high. Analysts were positive about the plan which provided […]
Dutch bank ABN Amro on Wednesday said that it had acquired domestic commercial lender NIBC Bank from private equity firm Blackstone, strengthening its position in its home market. The acquisition, for an estimated price of 960 million euros ($1.1 billion), is set to close in the second half of next year. It is expected to […]