Torontonians who can barely wrap their minds around a housing market where $1-million is the average price for a detached home might want to take notice of a new fast-approaching benchmark. Try not to panic if you haven’t bought yet but the $2-million home is a growing segment of the market in Canada’s largest city.
Updated 5 Years ago

In the second-straight day of heavily bullish options buying in Apple, one major investor appears to be betting nearly $60 million that Apple shares will rise above $700 by October. In one of Wednesday morning's largest options trades, 20,000 Apple 675-strike call options were traded for $21.30 per share. Since each call contract gives an investor the right to buy 100 shares at a set price within a set time, this amounts to a $43 million wager that the stock will trade above $696 by Oct 17.
Updated 5 Years ago

Sprint Corp. (S) is nearing an agreement on the price, capital structure and termination fee of an acquisition for T-Mobile US Inc. (TMUS)that could value the wireless carrier at almost $40 a share, people with knowledge of the matter said. Sprint will offer about 50 percent stock and 50 percent cash for T-Mobile, leaving Bonn-based parent Deutsche Telekom AG with about a 15 percent stake in the combined company, according to the people, who asked not to be identified because the process is private. The agreement could be announced as soon as July, the people said. At just under $40 a share, T-Mobile’s equity value would be about $31 billion.
Updated 5 Years ago

Ukraine’s President-elect Petro Poroshenko is ready to sign a deal establishing free trade between the EU and Ukraine, right after his inauguration on June 7. The agreement lies at the heart of the Ukraine crisis and he hopes it will help “restore peace". "I'm ready to sign the economic part of the Association Agreement and to enter a free trade zone with the EU immediately after the inauguration," Poroshenko said during a meeting in Warsaw on Wednesday with Austrian President Heinz Fischer.
Updated 5 Years ago

They say the figure has been hit just four years after passing £2bn, and that revenues have doubled in seven years. "A remarkable achievement in isolation, but phenomenal in the wider economic context of that same period," said Dan Jones, head of Deloitte's sports team. He said the battle between TV firms for Premier League rights was key to driving the league's revenues higher.
Updated 5 Years ago

The drugs are asthma medication Advair and anti-depressants Paxil and Wellbutrin. GSK did not admit any wrongdoing, and said the charges came from past issues. "We don't feel like this is who we are today," GSK spokesperson Mary Anne Rhyne told the BBC.
Updated 5 Years ago

The naira appreciated slightly against the United States dollar Monday as a result of dollar sales by local units of four multinational oil companies. Reuters quoted dealers to have revealed this. The nation’s currency closed at N162.40 to a dollar, compared to last Friday’s close of N162.80 to a dollar.
Updated 5 Years ago

The Nigerian equities market sustained its positive momentum at the close of trading Monday following gains recorded in the share prices of some highly capitalised stocks such as: Nigerian Breweries Plc, Stanbic IBTC Plc, Nestle Nigeria Plc, FBN Holding Plc and Unilever Nigeria Plc. The market had last week recorded impressive gains buoyed by renewed optimism driven by bargain hunters’ effort to take advantage of discounted stocks.
Updated 5 Years ago

The Islamic Development Bank has launched a programme to release $180 million in financing to six African countries for renewable energy projects as part of a broad strategy to deepen its involvement in the region. Islamic finance is growing in Africa as governments seek to develop large-scale infrastructure projects. Last year Nigeria’s Osun State began offering the country’s first Islamic bond.
Updated 5 Years ago

The Pension Fund Administrators have invested a total of N1.9tn in the Federal Government of Nigeria bonds. A document obtained from the National Pension Commission on Tuesday indicated that the figure represented 45.2 per cent of the total pension funds under the custody of the PFAs as of March, 2014.
Updated 5 Years ago