A $9.5 billion pollution judgment against Chevron in Ecuador was obtained by corrupt means, a US judge has ruled, blocking American courts from being used to collect on the historic settlement. "Justice is not served by inflicting injustice. The ends do not justify the means," wrote US District Judge Lewis Kaplan. Kaplan said he found "clear and convincing evidence" that attorney Steven Donziger, whose legal team represented the plaintiffs in the Lago Agrio case, had used bribery, fraud and extortion in pursuit of an $18 billion judgment against the oil company.
Updated 6 Years ago

Peugeot Automobile Nigeria, PAN, has concluded arrangements to restart its plant in June with a target production of 3,000 cars.
Updated 6 Years ago

Shareholders of Vitafoam Nigeria Plc Thursday approved the N245.7 million dividend recommended for the 2013 financial year at the company’s 52nd Annual General Meeting (AGM) held in Lagos. The dividend, which translates into 30 kobo per share, was recommended by the Board of Directors for the year ended September 30, 2013.
Updated 6 Years ago

In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year. Now Dunand, 52, and Jaeggi, 53, are executing a plan to propel Geneva-based Mercuria Energy Group Ltd. nearer to the top independent traders, Glencore Xstrata Plc (GLEN), Trafigura Beheer BV and Vitol Group. After entering exclusive talks last month to buy JPMorgan Chase (JPM) & Co.’s $3.3 billion commodities unit, Dunand and Jaeggi will probably announce a deal within the next week, according to two people with knowledge of the situation.
Updated 6 Years ago

As part of its Corporate Social Responsibility (CSR), Sterling Bank Plc has supported the ‘We Are the Future of our Nation’ (WATFON).
Updated 6 Years ago

Pope Francis has played down the notion that he is a "superman" who will bring sweeping reforms to the Roman Catholic Church, stressing that its ban on contraception and opposition to gay marriage will remain in place.
Updated 6 Years ago

Macau is known as the Las Vegas of the Far East, and it’s easy to see why.
Updated 6 Years ago

Gamers, start your engines. Just weeks after the console’s first major update was pushed out, Microsoft has announced that the Xbox One’s March update began rolling out to consoles on Tuesday night. The big new software update comes one week ahead of Titanfall’s release on March 11th, and it includes plenty of new functionality as well as some big bug fixes.
Updated 6 Years ago

Inter-bank rates at the money market yesterday rose by 6.54 percent following the N62.1 billion Treasury bills auction via Open Market Operation (OMO) on Tuesday as well as foreign exchange policy by the Central Bank of Nigeria (CBN).
Updated 6 Years ago

The Nigerian Stock Exchange (NSE) is set to enhance efficiency in real time delivery of stock transactions to investors after rolling out a mobile an email alert notification system. “Each time investors buy or sell a security, an alert is sent to them via a Text Message to the recipient’s mobile phone or via an e-mail to the recipient’s mailbox,” explained Mr Ade Bajomo, Executive Director of Market Operations and Technology at the NSE.
Updated 6 Years ago