Capital market

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Capital market Money market

Trump’s first year will be filled with fiscal follies

Washington, Dec. 25, 2025 – Relief swept Washington, D.C., after Congress ended a budget standoff and passed a short-term spending bill on Dec. 21, averting a government shutdown. But that year-end legislative battle may foretell further fiscal chaos in 2025, including the risk of another downgrade of US debt. Donald Trump will take office on Jan. 20 with his fellow Republicans running both houses of Congress. That Republican “trifecta”— full control of the legislative and executive branches — has boosted hopes that Trump will be able to extend a huge …

Business Planning

Toyota global production down for 10th month despite rising sales

Tokyo, Dec. 25, 2024 – Toyota Motor’s global production decreased for a 10th straight month in November, the Japanese carmaker said on Wednesday, although its worldwide sales grew for the second consecutive month on solid demand in the United States and China. The world’s biggest automaker manufactured 869,230 vehicles globally in November, down 6.2% from the same month last year, a larger fall than October’s 0.8% dip. Toyota’s U.S. output was down 11.8%, making a slow recovery although the production of Grand Highlander and Lexus TX SUV models resumed in …

Business Planning Investment

Nissan, Honda plan to merge, creating world’s No. 3 automaker

Tokyo, Dec. 23, 2024 – Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda’s president, Toshihiro Mibe, said Honda and Nissan will pursue unifying their operations under a joint holding company. Honda will …

Business Planning Foreign Money market

Fed expected to combine interest rate cut with hawkish 2025 outlook

Washington, Dec. 18, 2024 – The Federal Reserve is expected to lower borrowing costs on Wednesday in what some observers are calling a “hawkish cut” set to be delivered alongside policymakers’ updated interest rate outlooks and economic forecasts covering the first months of the incoming Trump administration. The anticipated quarter-percentage-point move would lower the U.S. central bank’s benchmark policy rate to the 4.25%-4.50% range, a full percentage point below where it stood in September when it began easing the tight monetary policy used to counter a surge in inflation that …

Capital market Money market

DMO offers 2 FGN bonds worth N120bn for subscription

Abuja, Dec. 17, 2024 – The Debt Management Office (DMO) has offered for subscription two Federal Government bonds valued at N120 billion. The DMO announced this in a statement on Monday in Abuja. The first offer is the April 2029 FGN bond valued at N60 billion being offered at 19.30 percent an interest per annum (five-year re-opening). The second offer is the February 2031 FGN bond of N60 billion being offered at 18.50 per cent per annum interest rate (seven-year re-opening). The auction date is Dec. 16, while the settlement …

Capital market Travel

Boeing’s year of crisis leaves investors wary of beaten-up stock

Seattle, Dec. 16, 2024 – What was supposed to be a comeback year for Boeing Co. has turned into its worst stock-market plunge since 2008, and if Wall Street is right, the plane-maker’s shares may have only a modest recovery in store in 2025. The stock is down 35% this year, placing it among the 20 biggest decliners in the S&P 500 Index. The shares have stabilized over the past month, but investors remain wary. They point to the string of crises in 2024 that shook their confidence in Boeing’s …

Business Planning Money market

FAAC shares N1.7trn among FG, states, LGs as monthly allocations

Abuja, Dec. 14, 2024 – The Federation Accounts Allocation Committee (FAAC) has shared N1.727 trillion among the federal, states and local government councils from the federal revenue in November 2024. This was disclosed in a communiqué issued by FAAC at the end of its monthly allocation meeting on Friday. The federal government received N581.856 billion, the state governments received N549.792 billion, while the local government councils received N402.553 billion. The sum of N193.291 billion (13% of mineral revenue) was shared to the beneficiary states as derivation revenue. The allocated amount …

Business Planning Foreign

Business leaders fear recession, labour shortages, World Economic Forum says

London, Dec. 5, 2024 – Business leaders globally are worried about the risk of recession, labour shortages and rising inflation, despite some signs of improvement in economic conditions, a World Economic Forum survey said on Thursday. Extreme weather events are an increasing concern, following a year of record temperatures, severe flooding and wildfires, including in major economies such as Brazil, Germany, Indonesia and the United States, according to the survey of more than 11,000 business leaders from G20 countries. The WEF Executive Opinion Survey shows “a significant level of anxiety …

Business Planning

MAN urges FG to recapitalise Bank of Industry

Lagos, Dec. 4, 2024 – The Manufacturers Association of Nigeria (MAN) has urged the federal government to recapitalise the Bank of Industry (BoI) to enable it meet the demands of the industries. The association also called on the government to provide credit information to industries and widen the scope of assets for collateral. These are part of the recommendations of the MAN in its position paper on the third quarter Gross Domestic Product (GDP) of the country, MAN also called on government to create special windows for providing single-digit interest …

Business Planning

Tax reforms to streamline tax administration, make environment business friendly – Presidency

Abuja, Dec. 3, 2024 – The current tax and fiscal policy reforms are to streamline tax administration in Nigeria and make the operating environment conducive for businesses. The Presidency said this on Monday in a statement issued by Bayo Onanuga, the Special Adviser to the President on Media and Strategy. The statement was in reaction to criticisms that have trailed the new tax reform bill since it was submitted to the National Assembly. The presidency said businesses, investors, and private sector players in Nigeria had been complaining of being overburdened …