Lafarge, Unicem in business combination for size, competition
Niyi Jacobs
June 7, 2017
The shareholders of Lafarge Africa Plc, coming out of the company’s 58th Annual General Meeting (AGM) in Lagos Wednesday approved the proposed business combination with Unicem that would see the size of the company increase to position it for market competition. They also approved the payment of N1.05 as dividend per share presented by the […]
91 percent businesses in India believe IT complexities put their companies at risk- Citrix
Businessam StaffJune 7, 2017
Ninety one percent of Indian businesses believe that their company is at risk because of organisational and IT complexities, higher than the APJ average of 85% and the global average of 83%. About 72% said that it’s time for a new security framework. These were some of the key findings in a global study carried […]
Google, Apple, Microsoft, Amazon and Facebook top most valuable global brands list
Businessam StaffJune 7, 2017
U.S. tech giants Google, Apple, Microsoft, Amazon and Facebook are the five most valuable global brands, according to rankings released on Tuesday by WPP and Kantar Millward Brown. The BrandZ Top 100 Most Valuable Global Brands ranking saw Google retain its top spot with a brand value of more than $245 billion. Amazon rose three […]
Ikeja Electric taps Deloitte to manage whistle-blowing platform
Businessam StaffJune 6, 2017
Ikeja Electric Plc, the electricity distribution company with coverage across parts of Lagos and Ogun states, has engaged the services of Deloitte, a leading Nigerian professional service firm, to manage a new platform it is dedicating to whistle-blowing by customers who have information that could help reveal illegal and unethical activities in its network. The […]
Stanbic IBTC Bank engages clients on employee productivity
Businessam StaffJune 6, 2017
Stanbic IBTC Bank PLC, a member of Stanbic IBTC Holdings PLC, has hosted the Human Resources Managers of the companies to a breakfast seminar with the theme “Increasing employee productivity through engagement”, with the keynote lecture delivered by principal partner, Philips Consulting, Foluso Philips. At the workshop organised at The Renaissance Hotel in Ikeja G.R.A. […]
Rio Tinto debt reduction proves popular with investors
Businessam StaffJune 6, 2017
Rio Tinto has repurchased $781m (£605m) of its bonds ahead of time as part of a wider $2.5bn debt reduction programme. The world’s second largest miner revealed plans to use cash reserves to reduce its debt burden on 22 May. The first tranche was due to be extinguished by 19 June. But in a short […]
Bank of Ireland fined over €3m for breaching money laundering, terror financing rules
Businessam StaffJune 6, 2017
*The Central Bank said it identified 12 occasions where the bank failed to enforce rules over three years from 2010…. Bank of Ireland has been fined more than three million euro after it admitted breaching laws drawn up to thwart terrorists and criminals. The Central Bank said it identified 12 occasions where the bank failed […]
AT&T reaches a tentative agreement with 17,000 workers
Businessam StaffJune 6, 2017
AT&T West, along with subsidiary DIRECTV, has reportedly reached a tentative agreement with 17,000 of its employees by working closely with the Communication Workers of America, but talks are ongoing with a large number of employees. The agreement that has been reached is tentative in nature. The deal was brokered by District 9 of the […]
British Airways’ reputation hurt by systems failure, Willie Walsh admits
Businessam StaffJune 5, 2017
The image of British Airways was damaged by the systems failure which grounded an estimated 75,000 passengers last month, Willie Walsh, the head of its parent company, IAG, has admitted. Mr Walsh, who was attending the summit of the aviation trade body, the International Air Transport Association in Cancun, voiced confidence that there would be […]
Blackstone offers $2 billion for Finnish real estate firm Sponda
Businessam StaffJune 5, 2017
U.S. private equity group Blackstone Group (BX.N) said on Monday it had offered to buy all shares in Finnish real estate investment company Sponda (SDA1V.HE) for about 1.8 billion euros ($2.0 billion) as it seeks to expand its real estate business in the Nordic region. The cash offer, 5.19 euros per share, represents a premium […]