Business archive

Page 5

1. Houthi Attacks Push Brent Above ₤98, Force Shutdowns at Saudi Energy Sites

   Brent topped $98 after Iran-aligned Houthi strikes on Saudi energy sites forced temporary halts and added a risk premium to global oil markets.

2. Kenya Shows Markets Fail To Reach Africa’s Last‑Mile Electricity Customers

   Kenya’s expansion of the grid leaves remote pastoralist and refugee households uneconomic for private suppliers.

3. Canadian Prime Minister Mark Carney Imposes Tariffs, Raising Costs for Cars and Homes

   Mark Carney's retaliatory tariffs on US metals, lumber and household goods will push up costs for cars, construction and some consumer items.

4. UK Lenders Raise Mortgage Rates, Many Borrowers Face Over £5,000 Annual Hit

   Major UK lenders raised rates on new mortgage deals, forcing borrowers to choose between locking in higher payments now or risking further increases.

5. Visa Pairs Settlement Data With Onchain Credit To Speed Loans For Stablecoin Card Issuers

   Visa will combine its settlement records with blockchain lending tools so lenders can underwrite stablecoin-linked card issuers faster.

6. Microenterprises Lose When Credit Lacks Trust In Lagos, Kano, Anambra, Borno

   EFInA-supported fieldwork in Lagos, Kano, Anambra and Borno finds credit access often fails to produce enterprise growth; trust, timing and repayment

7. ARC Ride Raises $33.3 Million to Add 5,000 Motorcycles and Scale Battery Swapping

   ARC Ride raised $33.3 million to scale battery swapping, add 5,000 electric motorcycles and expand from Kenya into Ghana, South Africa, Tanzania and

8. Stoke Space Raises $1 Billion to Fund Reusable Nova Pathfinder's 2027 Orbit Bid

   Stoke Space closed an initial $1 billion Series E to scale production and fund a second‑generation reusable rocket, aiming for a Pathfinder orbit

9. Albania Courts Dental Tourists, Risks Reputation if Clinics Cut Corners

   Tirana’s nearly four hundred dental clinics are selling €600 implants to foreign patients, but officials warn fast growth could invite unsafe

10. UK Commits £30m to SaxaVord Spaceport, Enabling Two New Launchpads

    The UK has pledged £30m to SaxaVord Spaceport to fund a second hangar and two launchpads, unlocking a further £30m in private capital.

11. Canada Imposes $27.6 Billion Retaliatory Tariffs, Deepening U.S. Trade Rift

    Canada’s 15%, 50% duties on $27.6 billion of U.S. goods took effect, targeting steel, appliances and dairy; Ottawa has pledged a $7.5 billion support

12. Dacia Moves Spring EV Assembly to Slovenia, Price Falls to €12,200 After French Credits

    Dacia will assemble the Spring EV in Novo Mesto, Slovenia, to qualify for French subsidies, cutting the effective price to €12,200 after credits.

13. BPI Agrees $451 Million Sale, Will Exit Angola After 30 Years

    BPI agreed on September 3 to sell its remaining 33.35% in BFA to CFSA for nearly $451 million, pending Angolan regulatory approval.

14. P&G Acquires Thorne, Bolsters Premium Health Portfolio

    Procter & Gamble will buy Thorne from L Catterton’s Flagship Fund, pending regulatory approval, to strengthen its premium wellness offering.

15. Novartis Pelacarsen Miss Shrinks Multibillion-Dollar Lp(a) Market

    Pelacarsen cut Lp(a) but failed to reduce heart attacks or strokes in a late-stage trial, denting Novartis and raising the stakes for Amgen and Eli

16. Wistron Prices $1.47 Billion Global Offering, Shares Slide Over 6%

    Wistron priced a $1.47 billion global depositary receipt offering that will dilute about 7.29% of shares and knocked the stock down over 6%.

17. Dangote IPO Could Push NGX Toward ₦225 Trillion Market Value

    The Dangote refinery's planned IPO values the company at ₦65.22 trillion and could lift NGX to about ₦225 trillion. Offer opens 14 September 2026.

18. Companies Run Public Hiring Contests, Critics Say They Exclude Low-Income and Introverted Applicants

    Firms including L'Oréal use public pitch contests to hire and showcase candidates, but critics say they favour extroverts and those who can afford

19. FirstHoldCo Joins FTSE Frontier 50, Broadens Global Investor Access

    FirstHoldCo’s inclusion in the FTSE Frontier 50 on 21 September 2026 widens routes for global capital and should deepen liquidity and institutional

20. Next Keeps Higher Warehouse Pay, Blocking Over £30m In Back Pay

    Appeal lets Next keep higher warehouse pay, blocking more than £30m in potential back pay for over 3,500 workers.

21. InfraCredit Guarantees Let 24 Nigerian Firms Raise ₦327 Billion, Shift Pension Funds Into Infrastructure

    InfraCredit-backed guarantees enabled 24 companies to secure ₦327 billion from local markets, with pension funds now funding 56% of those issuances.

22. Jaguar Land Rover Cuts Jobs as Sales Fall and Chinese Competition Intensifies

    JLR is trimming staff as sales decline and Chinese rivals pressure its switch to electric vehicles.

23. Banks Raise Dollar Card Limits, Restoring International Payment Access for Customers

    Customers regain wider access to dollar payments as major Nigerian banks lift card spending caps amid improved FX liquidity and CBN reforms.

24. Trump Claims 'Hundreds of Billions' From Stocks, Prompting Regulatory Scrutiny

    President Trump posted dozens of AI images on Truth Social and an unverified claim he made "Hundreds of Billions of Dollars" on U.S. stocks and other

25. Nigeria’s GDP Growth Is Driven By Telecoms And Services, Leaving Jobs Behind

    GDP rose 4.43% in Q2 2026, the fastest since 2021, but telecoms and services are powering output while employment-heavy sectors lag.

26. Sabato De Sarno Joins Icicle, Takes Charge of Design for Fall/Winter 2027

    Former Gucci creative director Sabato De Sarno will oversee womenswear, menswear, accessories and eyewear at Icicle, debuting Fall/Winter 2027.

27. Check Warns Millions May Never Start Investing Unless Platforms Build Social Trust

    Check found a seven-to-ten-year gap between intent and action, driven by trust, family demands and emotional barriers to saving.

28. UACN Cuts Debt to ₦307 Billion, Strengthening Its Balance Sheet

    UACN lowered total debt to ₦307 billion after ₦70.9 billion free cash flow in H1 2026, prompting CardinalStone to raise its target and keep a BUY.

29. Eight Nigerian Stocks Exceed $5 Billion, Command Over ₦103.12 Trillion of Market Value

    Eight firms on the Nigerian Exchange had market caps above $5 billion on Sept 2, 2026, together worth about ₦103.12 trillion, over 60% of NGX.

30. China Bolsters Bank Balance Sheets With 360 Billion Yuan Recapitalisation

    Beijing will recapitalise eight state banks and insurers with 360 billion yuan to strengthen balance sheets and support lending.

31. 10-Year Treasury Clearing 4.8% Would Force Market Repricing

    A sustained break above 4.8% on the 10-year would force repricing across long-duration bonds, growth stocks and other sensitive assets.

32. NMDPRA Says Crude Sourcing and Single-Source Refining Keep Petrol Prices Volatile

    The regulator says full deregulation leaves consumers exposed to swings driven by crude sourcing, single-source refining and logistics.

33. Vetiva Leads Dangote Refinery IPO to Broaden Ownership on Sept 14

    Vetiva will lead the Dangote Petroleum Refinery IPO opening for subscription on September 14, 2026. The offer includes up to 4.1 billion shares.

34. Eurometal Warns 300,000 EU Factory Jobs at Risk From Chinese Supply Chains

    Eurometal predicts 300,000 manufacturing jobs will vanish in 2026 unless Brussels restricts Chinese component suppliers embedding in EU supply chains.

35. Atoms Moves Into Robotaxi Market, Could Supply Uber With AV Technology

    Atoms is gearing up after a $1.7 billion raise, lining up hires and acquisitions and has discussed deploying robotaxis with Uber.

36. SEC Sues ISS to Enforce Subpoena, Tightening Oversight of Proxy Advisers

    The SEC filed suit to compel Institutional Shareholder Services to produce records after the firm withheld documents, intensifying review of proxy

37. Buyers Face Higher Costs as Sugar Surges About 20% on Supply Risks

    Weather, policy and ethanol demand tightened supplies, pushing sugar about 20% higher in 2026 and outpacing the S&P 500.

38. Trump Presses Warsh to Stop Fed Hike, Threatens Trade Action

    The White House has mounted a public campaign to block a likely Fed rate increase at the Sept. 15-16 meeting. Markets put the odds at about 60%.

39. ALAN Warns Law Firms Risk Failing to Scale Without Management Systems

    More than 300 managing partners at ALAN’s Lagos roundtable said governance, finance, talent and tech must underpin scalable growth.

40. Budget Travelers Keep Vacations, Bargain Platforms See Orders Climb

    Higher fares and fuel costs are not stopping price-sensitive travelers. They turn to mystery trips, hostels and discount cruises to keep vacations