U.S. increases cost of visa application for Nigerians

The United States has increased the cost of visa application for Nigerians. The US Consulate announced this in a statement explaining that it was “reciprocating” the extra visa fee the Nigerian government charges American citizens. The consulate explained that the extra cost will be applicable to only those whose visa requests were granted.   The […]

End of NAFTA to trim 0.55% off Canada’s economy- report

A new report concludes the end of the North American Free Trade Agreement would trim just over half a percentage point from Canada’s economy. It finds that the end of NAFTA would shave 0.55% off Canada’s gross domestic product (GDP), push 25,000-50,000 Canadians from the workforce, and reduce exports by 2.8%. The report comes from […]

Statistics Canada to include marijuana in GDP accounts

Canada will start measuring the use and production of non-medical cannabis as the country prepares to legalise the drug. Statistics Canada said Tuesday, according to Bloomberg that it will begin making estimates of current illegal production, sale, and use of marijuana to provide a clearer picture of the “economic and social consequences of the legalization” […]

U.S. consumer prices edging up on rising rent, healthcare costs

Although U.S. consumer prices barely rose in October, the boost to gasoline prices from hurricane-related disruptions to Gulf Coast oil refineries remained unwound, just as rising rents and healthcare costs point to a gradual buildup of underlying inflation. The Labor Department said its consumer price index edged up 0.1 percent last month after jumping 0.5 […]

US Fed faces prospect of global monetary policy tightening

Prospects for tighter monetary policy in Europe and other countries could pose a fresh problem for the Federal Reserve when it meets next week to ponder its plan to reduce its $4.2 trillion bond portfolio purchased after the 2008 financial crisis. The Fed bought U.S. Treasuries and mortgage-backed securities (MBS) for about six years in […]

Report: Major cloud services attack could cost $53 billion

What trait does a global cyerattack and a hurricane share? Both could cost insurers – and victims – dearly, according to a report published Monday by insurance giant Lloyd’s of London. A global, major attack on cloud computing services could cost an average of $53 billion, according to the report, which was co-written with Cyence, a […]

U.S. banks’ $150bn investment funds hang on wing of stress test results

Thursday’s expected release of stress test on American banks is expected to open floodgate of investments and stock buybacks by banks, which are itching to buoy their profitability and thus capacity to pay enhanced dividends, reports Reuters. Investors are hoping America’s Federal Reserve will allow big U.S. banks to put an estimated $150 billion in […]