Author: Olu Anisere

AstraZeneca Unveils $37bn U.S. Investment Plan Amid Tariff Threats British-based drug maker AstraZeneca has announced plans to invest 50 billion dollars in the United States over the next five years amid the looming threat of President Donald Trump’s trade tariffs. The Cambridge-headquartered firm said on Tuesday that the investment will fund a new “state-of-the-art” manufacturing facility in Virginia set to be its largest single manufacturing investment in the world. It will also expand research and development (R&D) and cell therapy manufacturing in Maryland, Massachusetts, California, Indiana, and Texas. The announcement marks the latest by a global pharmaceutical giant to expand…

Oil Prices Slip as EU Targets Russian Energy in New Sanction Oil prices slipped slightly on Monday as investors and markets focused on fresh European Union (EU) sanctions targeting Russian oil and awaited progress in trade talks ahead of the August 1 US tariff deadline. Prices of crude oil have remained range-bound, hovering around $70 per barrel across grades amidst US tariff pressures and a bearish outlook on global economic growth in 2025. China’s economic outlook faces significant pressures, and the EU’s export performance has been projected to retreat over higher US tariffs on exports. The international benchmark Brent crude…

US Dollar Slides as Markets React to Fed Dovish Comment The U.S dollar fell against trading partners in the forex market as uncertainties weighed on investors actions amidst the Fed’s dovish comments. Investors liquidated positions in dollar assets, with surging interest in safe havens amidst untamed tariff threats to sentiment. Investors sold off dollar assets, showing increased interest in safe havens amid ongoing concerns about tariff threats. Across the global markets, investors are reacting to U.S. President Donald Trump’s tariff threat, which some analysts said has become weapon against America’s perceived enemies rather than a policy recalibration. With investors rotating…

Chevron Hess Acquisition Sealed After Exxon Fight Chevron has successfully completed its $55 billion acquisition of Hess Corporation, overcoming a prolonged arbitration challenge from Exxon Mobil. The deal, which was delayed by over a year, grants Chevron access to Hess’s 30% stake in Guyana’s lucrative Stabroek block, one of the fastest-growing oil production regions globally, with over 11 billion barrels of oil. Chevron CEO Michael Wirth expressed satisfaction with the outcome, stating that the merger brings together two great American companies, combining the best in the industry. The acquisition is expected to drive significant free cash flow and production growth…

Trump Withdraws US from WHO Pandemic Reforms The United States has officially rejected changes agreed upon last year to strengthen the World Health Organization’s pandemic response, citing concerns over national sovereignty. President Donald Trump’s administration announced the decision, sparking regret from WHO chief Tedros Adhanom Ghebreyesus. The rejected amendments aimed to enhance global preparedness and response to health crises. However, Secretary of State Marco Rubio and Health and Human Services Secretary Robert F. Kennedy Jr. argued that these changes would undermine the country’s ability to make its own health policies, potentially infringing on Americans’ rights to speech, privacy, and personal…

GCR Affirms Lagos State Government Ratings, Outlook Stable GCR Ratings has maintained Lagos State Government’s national scale long-term and short-term issuer ratings at AA-(NG) and A1+(NG), respectively. The agency also affirmed the national scale long-term issue rating of AA-(NG) for various bond issuances under the government’s programmes. In addition, the outlook remains stable for Lagos State’s ratings. The reaffirmation reflects GCR’s continued confidence in the state’s creditworthiness and financial stability. The government of Lagos State is committed to maintaining strong fiscal discipline and prudent financial management practices. According to GCR, the ratings of Lagos State Government underscore its robust and…

First HoldCo Denies Share Sale Claims First HoldCo Plc has debunked reports in certain media outlets about the sale and ownership of its shares in a recent off-market transaction. The clarification relates to ownership of shares exchanged in the reported off-market deal that has drawn public speculation. In a disclosure to the Nigerian Exchange Ltd., the company said some media outlets wrongly claimed that Mr Femi Otedola or the Federal Government purchased the shares. First HoldCo clarified that Barbican Capital Ltd. and its affiliates, as well as Leadway Group and its affiliates, were the actual sellers. RC Investment Management Ltd.…

FAAC Distributes N1.818trn to FG, States, LGs The Federation Account Allocation Committee Committee (FAAC) has shared a total sum of N1.818 trillion, being June revenue to the Federal Government, states and the Local Government Councils (LGs). This is according to a communiqué from FAAC made available by Bawa Mokwa, Director , Press and Public Relations, Office of the Accountant-General of the Federation (OAGF). The revenue was shared at the July 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja on Friday night. According to the communiqué, the N1.818 trillion total revenue comprised statutory revenue of N1.018 trillion, Value Added…

Nigeria’s Fundamental issue not Its Constitution, Says Nwoko Nigeria’s fundamental issue was not the constitution, but the lack of patriot leadership and accountability. Sen. Ned Nwoko (APC-Delta), and member Senate Committee on Constitution Review, said this in an interview on Channels TV. Nwoko, who representis Delta North Senatorial District and Chairman Senate Committee on Reparations and Repatriation, said structural reforms were also important. He referenced the UK as a model, saying in spite of not having a single codified constitution, the UK operates on a system of Acts of Parliament, yet governance runs smoothly because the people and institutions prioritise…

How $12m was Swapped in 10 days in SunTrust Bank -EFCC Witness Mr Suleiman Ciroma, the Economic and Financial Crimes Commission (EFCC)’s witness, on Thursday, told the Federal High Court in Abuja how the sum of 12 million dollars was swapped in SunTrust Bank within 10 days. Ciroma stated this while being led in evidence by EFCC’s lawyer, Ekele Iheanacho, SAN, before Justice Emeka Nwite, in the ongoing trial of Halima Buba, the Managing Director/CEO of the bank. According to News Agency of Nigeria, Buba and her co-defendant, Innocent Mbagwu, the Executive Director/Chief Compliance Officer of SunTrust Bank, are being…