Coca-Cola acquires stake in Kobe Bryant backed US sports drink BodyArmor

Businessam Staff3 hrs

BodyArmor

Coca-Cola has announced that it will be acquiring a stake in sports drink brand BodyArmor, in order to challenge PepsiCo’s Gatorade. Coca-Cola noted that it will become the company’s second-largest shareholder, after co-founder and Chairman Mike Repole, while basketball star Kobe Bryant remains its third-largest shareholder. Dr Pepper Snapple also has a 15.5% stake in […]

Facebook requests customer information from U.S. banks

Justice OkamgbaAugust 7, 2018

Facebook

Facebook Inc., the social media giant, has requested large U.S. banks to share comprehensive financial information about their customers, as part of strategies to offer new services to users, The Wall Street Journal reported on Monday, citing people familiar with the matter. The financial information asked from the banks include card transactions and checking account […]

T-Mobile, Nokia sign $3.5bn deal to boost 5G in US

Bukola OdufadeAugust 2, 2018

T-Mobile and Nokia have announced a $3.5 billion agreement to accelerate the deployment of 5G network in United States. According to the agreement, Nokia will provide T-Mobile with its complete end-to-end 5G technology, software and services portfolio, assisting the Un-carrier in its efforts to bring its 5G network to market for customers in the critical […]

Goldman Sach’s CEO Blankfein to retire, Solomon to replace him

Anthony OgboJuly 17, 2018

Blankfein

Goldman Sachs said on Tuesday that Lloyd Blankfein, the firm’s chief executive officer and chairman for the last 12 years, will step down as the chairman at the end of the year. Blankfeing will be succeeded by David Solomon, a long-time Goldman executive, to lead the storied Wall Street investment bank. Solomon’s stature as the […]

Trade fears deepen on US steel, aluminum tariffs

Businessam StaffJune 4, 2018

Trade tensions between the United States and some of its biggest trading partners continue to escalate on the imposition of steel and aluminum tariffs. China said Donald Trump’s plan to impose tariffs on $50 billion of Chinese exports threatens to wipe out recent progress made in trade talks between Beijing and Washington. The latest round […]

US-North Korea: Trump says summit with Kim is back on

Businessam StaffJune 3, 2018

Donald Trump’s summit with Kim Jong-un in Singapore on 12 June is back on, the US president says, a week after it was scrapped. Trump made the announcement after talks with a senior North Korean envoy at the White House. The envoy, General Kim Yong-chol, hand-delivered a letter from the North Korean leader to President […]

US economy creates 223,000 new jobs in May

Businessam StaffJune 1, 2018

Trump

The US economy continued to create plentiful new jobs in May according to the country’s latest employment report, despite Donald Trump’s concern for steel and car manufacturing workers. The Bureau of Labor Statistics reported that there were 223,000 net new jobs in the month and that the jobless rate declined again to 3.8 percent, its […]

Finally, US announces steel, aluminum tariffs on key allies

Businessam StaffMay 31, 2018

The US Friday announced the imposition of tariffs on steel and aluminum imports from the European Union, Mexico, and Canada, saying the 25 percent tariffs on steel and 10 percent on aluminum will begin at midnight. The move, revealed by Wilbur Ross, commerce secretary, will affect several key US allies – and NATO members – […]