Schneider Electric said on Wednesday it had signed new deals worth almost $2.3 billion with two U.S. data centre operators, as surging adoption of artificial intelligence boosts infrastructure demand. At an industry event in Las Vegas, the French industrial group announced a $1.9 billion partnership with privately held tech firm Switch, covering power modules and […]
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 […]
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 […]
Nebius Group has signed a deal worth about $3 billion with Meta to provide the Facebook owner with AI infrastructure over a five-year period, the company said on Tuesday, after it reported a more than fourfold rise in third-quarter revenue. The company’s shares seesawed in volatile premarket trading, after it posted a surge in capital […]
Billionaire Bill Gates’ foundation will invest at least $1.4 billion over the next four years to help farmers in sub-Saharan Africa and Asia access technologies that enhance resilience to extreme weather. The funding will support innovations aimed at boosting crop yields, improving livestock production, providing digital advisory services, and restoring degraded land. “Smallholder farmers are […]