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Nigeria is to devalue naira

AS previously reported, Nigeria, one of Africa’s potentially strongest economies which depends so heavily on oil revenues, has been experiencing significant troubles with obtaining foreign currency. Having blocked credit cards and transfer of funds out of the country, the black market rate between the dollar and naira has doubled over…

BHS blame shifts to current owner

AFTER the furore that accompanied allegations against Sir Philip Green and the impending closure of BHS, the most recent owner, Dominic Chappell has been branded a ‘liar’ who had his ‘fingers in the till’ by former BHS managers at a Commons enquiry into the financial woes of the company. Darren…

Uber car hire continues to grow

HATED by taxi drivers and loved by those who want a cheap ride, the American corporation Uber, operator of the Uber mobile app, which allows consumers with smartphones to submit a trip request that gets routed to Uber drivers who use their own cars, has just received a €3.15 billion…

Latest view from Currencies Direct on exchange rates

As we edge ever closer to the EU referendum on 23 June, all eyes turn to ITV at 10pm Spanish time tonight (June 7), where David Cameron and Nigel Farage will face questions from a live studio audience. Recent polls suggest that the Leave campaign has witnessed a sharp rise…

Popular News

Sacyr’s request for more money

THE Spanish construction group Sacyr, the leader of the consortium Grupo Unidos por el Canal (GUPC), confirmed that it had now completed the work that it had been commissioned to undertake on the Panama Canal and that the first ship will pass through the expanded third lock on June 26.…

Aston Villa FC sold to China

AMERICAN billionaire Randy Lerner has agreed to sell recently demoted Aston Villa Football Club to minority shareholder Chinese businessman Dr Tony Xia for £60 million (€78 million) and a spokesman for the club said that Mr Lerner had “sought the right owner to take care of the club and restore…

Adidas and Chelsea to part company

IN what is said to have been by mutual agreement, Chelsea will not have their kit supplied by Adidas after the end of next season and provided they pay what could be a substantial amount to buy out the remaining years of their contract, they will then be able to…

Rotten news for Apple as they lose lawsuit in China

ALTHOUGH often touted as a company that cares about people, Apple does have a bit of a reputation for understandably trying to protect its trademark by going to law, but on this occasion it has received a verdict which will not be to its liking. The Beijing Municipal High People’s…

Plan for shorter working hours

DESPITE the fragility of their position in the lower house of parliament and the fact that there will be a new election in June of this year, the interim government is determined to push ahead with its plan to change the working pattern within Spain and with a majority in…

The world’s best currency is...

WHEN looking to identify the world’s best-performing currency, the last place that most people would consider would be in Africa, which for so many years has seen massive inflation and poor financial results, but according to Bloomberg, the Zambian kwacha has so far performed better than any other currency during…

Yahoo’s poor performance

IN what is quite an unusual move, Starboard Value, a significant investor in internet company Yahoo, has called for the replacement of the entire board in a letter to other shareholders, where it says it is “extremely disappointed with Yahoo’s dismal financial performance, poor management execution, egregious compensation and hiring…

No nudes is bad news

IT appears that following the decision announced by the Playboy group to stop publishing images of nude women in their magazine that sales have shrunk and in consequence, advertising revenue has also reduced. Hugh Hefner, who will soon be 90, has already put the Playboy mansion up for sale at…
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