Carl Icahn’s forecast for Apple Inc. (AAPL)would swell the world’s biggest market capitalization beyond the economy of Argentinato heights never seen in public markets. The billionaire activist says Apple should trade at $203, twice its current price, an estimate that would push it to $1.2 trillion. He’s asking that of a stock that has gained more than 3,500 percent in the past decade and became the most valuable company in U.S. history two years ago, before adjusting for inflation.
Updated 5 Years ago

Russia’s currency interventions have exceeded $3 billion this month as a domestic dollar shortage and slumping oil prices batter the ruble. The central bank sold $1.5 billion on Oct. 8, according to data released on its website today, the most for a single day since a $4.41 billion intervention that preceded the Crimea referendum to join Russia in March. According to a Bloomberg poll, the monetary authority dipped into reserves for another $1 billion or more yesterday to support the ruble.
Updated 5 Years ago

London Zoo is working with UK regulator Ofcom to test so-called TV White Space (TVWS) technology. TVWS uses gaps in the spectrum assigned for television transmissions. Videos of the animals will be streamed to YouTube 24 hours a day.
Updated 5 Years ago

The Norton antivirus software maker said it would spin off operations into two publicly traded firms, one focused on security and the other on storage. The move follows similar operational division by tech giants Hewlett-Packard (HP) and Yahoo.
Updated 5 Years ago

US stocks marked their worst decline this year after the head of Europe's central bank said the region's economic recovery may be losing momentum. In Japan, the Nikkei 225 fell 1.2% to its lowest in two months.
Updated 5 Years ago

The audit report on the alleged $10.8bn missing from the coffers of the Nigerian National Petroleum Corporation will be ready in November, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said. The minister spoke at the Financial Times Africa Summit 2014 in London on Monday. She said there had been ongoing discussions between the Ministry of Finance and the Ministry of Petroleum Resources on the matter, adding that the huge attention generated by the alleged unaccounted for fund necessitated the government to take steps, including the appointment of PriceWaterHouseCoopers to do a forensic audit of the Nigerian National Petroleum Corporation.
Updated 5 Years ago

The Group Managing Director of Union Bank Plc, Mr. Emeka Emuwa, has said stakeholders in the banking sector must work together to end electronic fraud. Emuwa challenged internal auditors in the industry to tackle the emerging trends in e-fraud, which has been threatening the growth of the e-payment subsector.
Updated 5 Years ago

Total Exploration and Production Nigeria has said that a lot of milestones have been achieved towards the realisation of the completion of the development of Egina in 2017. According to the company, such milesstones achieved in the past few months include the procurement of the drilling tubulars, the gas export and water injection line pipes, the first wellheads set, the steel cutting in-country for living quarters and subsea manifolds, and finally last week, the sail away of the Drilling Rig West Jupiter to Nigeria.
Updated 5 Years ago

General Electric (GE) has sent the first batch of 15 newly recruited Nigerian technicians to Brazil for training in the assembly and test of subsea equipment. This is in furtherance of its commitment to create jobs, build skills and ensure technology transfer in its operations in Nigeria and beyond. Uzo Nwagwu, chief operating officer GE Oil and Gas who made this known in Lagos also disclosed that over the next months, the team will proceed to Aberdeen for the next phase of training in GE’s Bridge of Don manufacturing facility where they will receive further hands-on exposure to subsea equipment manufacturing activities.
Updated 5 Years ago

Kaduna State government and Skye Bank plc have entered into partnership to increase the state’s internally generated revenue (IGR) in order to accelerate the pace of development in the state. Mukhtar Ramalan Yero, Kaduna State governor, disclosed this in Kaduna recently, while launching Point of Sales (PoS) terminal for revenue collection scheme of the state, powered by Skye Bank.
Updated 5 Years ago