Glencore weighs bid for Chevron’s South Africa assets
Businessam Staff
October 1, 2017
Glencore Plc. is among companies considering bidding for Chevron Corp.’s South African assets after a proposed sale to China Petroleum & Chemical Corp. stalled when local partners said they will exercise a preemptive right, according to two people familiar with the matter. China Petroleum said in March it agreed to pay $900 million for Chevron’s […]
Neimeth announces management change as Chris Mmeje becomes acting CEO
Businessam StaffSeptember 27, 2017
The board of directors of Neimeth International Pharmaceuticals Plc. has announced the appointment of Chris Mmeje as acting managing director and chief executive. This followed the resignation of Ebere Igboko Ekpunobi who has been chief executive since March 2016 but had to resign on poor health after suffering injuries from a sporting accident. In a […]
Fidelity Bank, LBS move to boost forex earnings with export initiative
Businessam StaffSeptember 27, 2017
Fidelity Bank Plc has expressed readiness to support the Federal Government non-oil sector diversification drive with an Export Management Programme (EMP) to boost foreign exchange earnings.Nnamdi Okonkwo, the bank’s Managing Director, said this while speaking at the EMP Stream Five Initiative at the Lagos Business School (LBS). Nnamdi Okonkwo, the bank’s Managing Director, said this […]
Uber set to pull out of Canada’s Quebec province
Businessam StaffSeptember 27, 2017
Ride-hailing service Uber Technologies Inc. said on Tuesday it will stop operating in the Canadian province of Quebec next month, pulling out to avoid following tough new regulations announced last week. Uber is withdrawing from Canada’s second-most populous province as it also battles a decision to strip the company of its license to operate in […]
Western Digital seeks injunction to block Toshiba’s $18 billion chip unit sale
Businessam StaffSeptember 26, 2017
Western Digital Corp (WDC.O) said Tuesday it will seek an injunction to block the sale of Toshiba Corp’s (6502.T) prized semiconductor business to a rival group, upping the ante in an acrimonious battle with its chip venture partner. The latest legal action by the U.S. firm, which jointly invests in Toshiba’s main chip plant, comes […]
FirstBank promotes kindness in week-long corporate responsibility, sustainability celebration
Bukola OdufadeSeptember 25, 2017
Nigerian lender, First Bank, Monday began a whole week devoted to celebrating its corporate responsibility and sustainability (CR&S)initiatives across the country, some African countries where it has subsidiaries and in the United Kingdom. The celebration will last until Friday 29, September, 2017. The lender in a statement said the theme for the celebration is ‘Promoting […]
Air France launches Joon airline targeted at younger passengers to better compete against Gulf carriers
Businessam StaffSeptember 25, 2017
Air France Monday formally launched its new “Joon” lower-cost airline, which it hopes will attract a younger clientele and restore some routes to profitability. Air France said Monday that Joon would start off by flying to six destinations. Starting from Dec. 1, Joon will fly to four cities in Europe – Barcelona, Berlin, Lisbon and […]
JPMorgan to hire ‘thousands’ for operations hub in Poland
Businessam StaffSeptember 22, 2017
Poland’s government expects JPMorgan Chase & Co. to open an operational center in Warsaw, swelling the ranks of banks attracted by Poland’s lower costs amid competition by European cities for jobs set to move away from London. The U.S. bank, which is poised to hire “several thousand people,” according to Polish Deputy Prime Minister Mateusz […]
Aiteo shuts Nembe creek trunk line over leakage – official
Businessam StaffSeptember 22, 2017
Aiteo Eastern Exploration and Production Company Friday said it had shut its Nembe Creek Trunk Line (NCTL) for emergency repairs following the detection of oil leakage. Ndiana-Abasi Matthew, the company’s Senior Manager, Corporate Communications, made this known in a statement issued in Lagos, saying that the shutdown was done on September 15 According to him, […]
Mercedes plots Tesla attack with $1bn U.S. Electric Push
Businessam StaffSeptember 22, 2017
Daimler AG plans to spend $1 billion to start production of Mercedes-Benz electric vehicles at its Alabama factory, setting the world’s largest luxury-car maker up to battle with battery-car specialist Tesla Inc. on its home turf The German automaker will build its fifth battery plant globally and create more than 600 jobs in the region, the company said […]