Morgan Stanley says US economy is on ‘recession watch

The stock market and economic outlook in the United States are "deteriorating," according to an analysis from one of Wall Street's top investment banks as reported by CNBC. Renewed trade tensions and a slump in economic data — ranging from falling durable goods and capital spending to a downshift in the services sector — has[...]

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With a Revenue of N965bn, Mtn to list on Nigerian Stock Exchange by July

MTN Group has said it will list in the Nigerian Stock exchange by July this year. The telecommunication giant made this disclosure in a mailed statement seen by TheCable on Thursday, as its results showed a total revenue of 37,971,000,000 South African rand (N965.3bn). “MTN plans to list by introduction on The Nigerian Stock Exchange during the first[...]

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Election outcome: NSE market capitalisation decreases further by N196bn

Trading on the Nigerian Stock Exchange (NSE) continued to react negatively to the outcome of the presidential election with the market capitalisation losing N196 billion to close below N12 trillion mark. NAN reports that the market capitalisation for last trading day in February shed N196 billion despite the N16 dividend declared by Dangote Cement. Specifically,[...]

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JC Penney to close stores as sales tumble

J.C. Penney on Thursday reported earnings and sales for the holiday quarter that topped analysts' lowered expectations, as the company said it was successful in reducing a glut of unsold inventory in 2018. But revenue was down sharply, and the company declined to provide a forecast for 2019 as it works to improve its financial performance.[...]

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Foreign investors withdraw N642bn from stock market

Foreign investors pulled out a total of N642.65bn from the nation’s stock market last year, compared to the N435.31 withdrawn in 2017, the Nigerian Stock Exchange said in a new report on Thursday. The NSE said foreign inflows into the market fell to N576.45bn last year from N772.25bn in 2017. Foreign portfolio investment outflow includes[...]

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Amazon emerges as most valuable U.S. company for the first time ever with a market value of $797BILLION – surpassing Microsoft

Amazon has eclipsed Microsoft as the most valuable publicly traded company in the U.S. as a see-sawing stock market continues to reshuffle corporate America's pecking order. The shift occurred Monday after Amazon's shares rose 3 percent to close at $1,629.51 and lifted the e-commerce leader's market value to $797billion.  Meanwhile, Microsoft's stock edged up by[...]

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Carlos Ghosn’s detention extended until Jan. 11

Ghosn, who was initially charged, twice, for allegedly underreporting his remuneration, has been detained since November A Tokyo court on Monday approved yet another a request from prosecutors to extend the detention of former Nissan Motor Co. Chairman Carlos Ghosn for alleged financial misconduct. This stretch should keep the automaker’s savior behind bars until Jan. 11.[...]

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Microsoft beats Apple to the most valuable company in the world

Microsoft Corp’s stock market value closed above Apple Inc’s for the first time in eight years on Friday as the Windows maker benefited from growth in cloud computing while Apple was hit by investor concern about iPhone demand. Shares of Microsoft rose 0.6 percent to end the week at $110.89, putting its market capitalisation at[...]

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Nigerian stocks plummet 3.46% , further plunge predicted

The Nigerian Stock Exchange fell to its worst performance year to date as the All Share Index closed at 32,292.79 basis points, down 3.46% and below the 33,000 mark. Year to date, the index is down 15.56%. The drop was largely due to Dangote Cement falling sharply in today’s trading session. The stock closed at[...]

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