Business archive

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1. Retail Nigerians Gain Chance To Own Dangote Refinery Shares

   Retail investors are buying 10-share bundles at ₦5,250 as Dangote opens his refinery to public ownership; he retains 87% of the $19 billion asset.

2. Nigeria Must Convert Stability Into Strategic Economic Power

   Reforms have rebuilt buffers and raised reserves to $46bn. Nigeria must translate that stability into manufacturing, exports and bargaining power.

3. Air Peace Says NCAA Understated August Flights, Warns Report Could Tarnish Airline

   Air Peace says the NCAA undercounted its August flights, inflating delay rates. The carrier blames external disruptions and urges a data audit.

4. Noise Raises $5.5 Million to Scale Low-Cost Creator Marketplace

   Noise closed a $5.5 million seed round to build product features, hire staff and grow a pay-per-view marketplace that lists 1.5 million creators.

5. Fed Raises Rates 25 Basis Points, S&P 500 Falls as Markets Brace for Another Hike

   The Fed lifted its policy rate 25 basis points in a unanimous move, sending the S&P 500 lower while officials’ dot plots signal at least one more

6. World Bank Gains Nobel Laureate Michael Kremer as Chief Economist, Reorients Research Agenda

   Michael Kremer will become World Bank Chief Economist on October 1, 2026, to lead the institution's research, data and analytical agenda.

7. Amazon Raises U.S. Starting Pay to $20, Boosting Average Hourly Pay to Nearly $24

   Eligible U.S. delivery and fulfillment workers get a $1 hourly raise as Amazon sets a $20 minimum and adds banking and grocery perks.

8. U.S. Chip Capacity Could Rise If SK Hynix Moves RAM Production To Ohio

   SK Hynix has held talks with Intel about making RAM in Ohio, including leasing space at Intel’s planned plant. The company says no decision has been

9. J.B. Hunt Stock Falls 10% After Company Warns Q3 Earnings Will Drop

   Shares tumbled after J.B. Hunt said Q3 earnings will fall 5% to 10% as recruiting, onboarding and record diesel prices squeeze margins.

10. U.S. Households Face $1,760 War Bill as Oil and Yields Push Costs Higher

    Energy and borrowing costs have raised the bill for the average U.S. household to $1,760 since the U.S.-Iran conflict began, Moody's finds.

11. Nissan Links £170m Sunderland Investment to Potential Cut in UK ZEV Mandate

    Nissan has pledged £170m to make the Kicks hybrid in Sunderland, but says the cash depends on easing the UK’s Zero Emission Vehicles mandate and

12. Thin Cash Buffer Exposed as Legend Internet's Profit Drops 92% to ₦13.21 Million

    Pre-tax profit slid to ₦13.21 million as a ₦672 million asset gain hid an operating shortfall; management must cut costs and refinance by December.

13. Fuel Price Rise Pushes UK Inflation to 3.1%, Raises Pressure on Bank of England

    Petrol, diesel and airfares pushed annual inflation to 3.1% in August as oil topped $91 a barrel, widening the gap to the BoE's 2% target.

14. UK Inflation Rises to 3.1%, Adds Pressure Ahead of Bank of England Decision

    Inflation rose to 3.1% in August as motor fuel prices jumped 23% year-on-year. The print precedes the Bank of England's policy update.

15. U.S. Crude Build Pushes Oil Down, Saudi Pipeline Closure Keeps Supply Risk

    Oil fell after American Petroleum Institute data showed a 7.1 million-barrel U.S. crude build, even as a closed Saudi pipeline sustains Middle East

16. Dec. 31 Deadline Forces Employers and Families To Reconcile Trump Account Contributions

    Dec. 31 is the last day to fund Trump Accounts for 2026. Employer deposits and paycheck deferrals count toward the $5,000 limit and excesses carry

17. Steelcase Reopens Clerkenwell Studio, Lets Clients Test Workplace Designs

    Steelcase has reopened its Clerkenwell WorkLife Studio as a living laboratory where visitors can try research-led layouts, products and workflows.

18. NPCI Imposes 0.4% Fee on UPI Above ₹2,000, Businesses Must Absorb Cost

    A 0.4% merchant levy on UPI payments above ₹2,000 takes effect October 15, ending years of merchant-free processing and shifting costs to businesses.

19. 10-Year Treasury Climbs to 5.04%, Raising US Borrowing Costs

    The 10-year Treasury yield hit 5.04%, its highest since 2007, after oil surged and markets priced in stronger Fed action.

20. Evvy Raises $40 Million Led by Catalio to Scale Vaginal Microbiome Research

    The Series B will fund expansion of Evvy’s CLIA and CLEP at‑home vaginal microbiome testing, research dataset and clinical partnerships.

21. Nigeria Posts ₦797.50 Billion US Trade Surplus in June, Ends 14-Month Deficit Streak

    A surge in urea exports lifted Nigeria to a ₦797.50 billion surplus with the US in June 2026, reversing 14 months of deficits.

22. Samsung Joins €200M Round in Euclyd, Boosts Non‑GPU AI Inference Push

    Samsung co-led a €200 million Series A in Dutch startup Euclyd to back non‑GPU inference chips and rack systems that aim to cut energy and operating

23. Small US Cities Offer $5,000 Relocation Grants, Let Remote Workers Buy Homes

    Small towns such as Muncie and Jacksonville pay $5,000 relocation grants to attract remote workers, helping some move from expensive cities and buy

24. Government Moves To Acquire Speciality Steel UK, Protecting 1,300 Jobs

    Ministers will seek to buy Speciality Steel UK to preserve 1,300 jobs across four sites after private sale talks with Blastr failed.

25. Government Moves To Acquire Speciality Steel UK, Preserves Strategic Control

    Ministers will prepare a public acquisition of Speciality Steel UK after rejecting a private bid, aiming to protect sites and about 1,300 jobs.

26. Kevin Warsh Must Choose a Rate Hike, Fed Credibility Is at Risk

    Oil and tariff shocks have narrowed the Fed's options; with inflation above target, Kevin Warsh must decide whether to raise rates this week.

27. Bamboo App Crashes, Locks Out Investors From Dangote Refinery IPO

    Bamboo's app failed after traffic overwhelmed its systems, leaving many users unable to access accounts during the Dangote Refinery public offer.

28. India's Inflation Climbs to 4.82%, Puts Pressure on RBI to Hike Rates

    Retail inflation rose to 4.82% in August, the tenth straight monthly increase. Rising food, fuel and transport costs deepen the policy challenge.

29. Shein Shares Drop After Australia, New Zealand Recall Contact-Lens Cleaner

    Shein's Hong Kong stock slid after Australia and New Zealand ordered an urgent recall of a contact-lens cleaning product over contamination.

30. Rivals Move to Capture Drivers and Riders After Uber Exits Nigeria

    Shuttlers, inDrive and Bolt have rolled out promotions, new services and lower fees to lure drivers and passengers after Uber left.

31. Amazon Pauses 21 Air Flights, Cutting a Carrier From Its Logistics Network

    Amazon suspended operations with 21 Air after a 21 Air Boeing 767 overshot a Miami runway on 6 September, killing five as the NTSB probes.

32. Borrowing Costs Rise as 10-Year Treasury Nears 5%

    The 10-year Treasury yield sits around 4.96%, pushing mortgage and corporate borrowing costs higher and shifting market risk depending on the cause.

33. Geopolitical Tensions Raise Costs, Threaten Production in Africa

    Shipping disruptions, energy insecurity and dependence on external suppliers are lifting costs and causing delays, prompting calls for regional

34. Cramer Warns AI Slowdown Could Hit Nvidia, Plans Heavy Sell Then Rebuy

    Jim Cramer said Dario Amodei’s push to slow frontier AI could pressure Nvidia and data-center plays; he plans to sell heavily then rebuy.

35. Sunbeth Joins Agriculture Summit Africa 2026, Adds Commercial Voice to Food Agenda

    Sunbeth Global Concepts will co-convene Agriculture Summit Africa 2026 in Abuja, Sept 15-16, bringing a commercial perspective to the summit.

36. Nigeria Keeps OPEC Quota, But Output Still Falls Short of 2026 Budget

    Nigeria met its OPEC production quota for a fourth month as output rose 0.4% to 1,677,777 bpd in August, but output remains below 2026 budget

37. Markets Brace for Likely Fed Rate Hike Ahead of Dreamforce

    Markets price almost a 90% chance of a Fed rate hike Wednesday. Retail sales, housing and industrial data follow, while Dreamforce draws corporate

38. Breakwave Tanker ETF Surges 3,600%, Becomes Top U.S. Non-Levered Fund

    BWET, which tracks tanker futures rather than crude, is up about 3,600% YTD through Sept. 11 as Middle East and Red Sea disruptions squeeze capacity.

39. RTX Backing and an NNSA MoU Pull Fusion Startups Toward Defense Work

    Defense contractors and federal labs are offering fusion firms funding and test access, with RTX Ventures backing Xcimer and Pacific Fusion signing

40. Supermarkets Replace Atlantic Mackerel With Chilean Jack, Shoppers Lose Omega-3

    Which? says suppliers are replacing Atlantic mackerel with cheaper Chilean jack, which has about half the omega-3 and a third the vitamin B12.