Facebook stumbled in its first trading day Friday as shares ended barely above the starting price after a glitch-plagued market debut on the Nasdaq that failed to live up to the enormous hype. The stock, priced at $38 on Thursday in the largest-ever initial public offering (IPO) for a technology firm, eked out a gain [...]
Nigeria has signed a deal worth up to $200 million (157 million euros) with two French firms to improve electricity supply in the power-starved country, a statement said Wednesday. French power giant EDF and ETDE will first conduct a feasibility study before constructing a high-voltage transmission line and power distribution substations, the statement from Nigeria’s [...]
Japan Airlines (JAL), which went bankrupt two years ago in one of the country’s biggest-ever corporate failures, on Monday logged an annual net profit of $2.33 billion, thanks to cost-cutting efforts. The carrier said net profit for the year through March was 186.6 billion yen on sales of 1.2 trillion yen, as a strong yen [...]
GBENRO ADESINA/IBADAN The Oyo State Government has signed a Memorandum of Understanding (MOU) with an Australian Consortium for the exploration of mineral resources in the state. Dr. Festus Adedayo, the Senior Special Adviser to Governor Abiola Ajimobi of Oyo State said the governor signed on behalf of the state, while Dr. Dapsy Olatona signed on [...]
Yahoo! announced Sunday that Ross Levinsohn will temporarily replace chief executive Scott Thompson, who has stepped down in the face of controversy about his allegedly inflated resume. The California-based company, in a compromise with activist investor Daniel Loeb, said Fred Amoroso would take charge of the board of directors as the struggling Internet pioneer seeks [...]
Leading economists have ranked how to best and most cost-effectively invest to solve many of the world’s seemingly insurmountable problems, a Danish think-tank said Monday, calling for a shift in global priorities. “It may not sound sexy, but solving the problems of diarrhoea, worms and malnutrition will do good for more of the world’s poor [...]
Dubai’s Emirates airline group posted a 61-percent slump in net profit in the year to March 31 due to unprecedented economic pressures and record high fuel prices, the company said Thursday. Total profits for Emirates Group, including all of its subsidiaries, dropped to 2.3 billion dirhams ($629 million) in 2011-2012 from 5.9 billion dirhams ($1.6 [...]
