Economy
Panama bans new mining deals, but fails to quell protests
Panama's President Laurentino Cortizo on Friday announced a ban on new metal mining concessions, but maintained a contract with a Canadian company that has sparked massive protests in the country. In a televised address, the president said the government had issued a decree "declaring a ban on granting new metallic mineral concessions throughout the country."
FG partners ECOWAS to set up Africa Energy Bank to improve crude oil exploration
The Federal Government and other members of the Economic Community of West African States, ECOWAS intend to establish the Africa Energy Bank to support exploration
Nigerian firm Neveah promotes Nigeria's solid minerals in London Metal Exchange
Nigerian commodity trading company is at the forefront of promoting Nigeria's solid minerals potential at the London Metal Exchange, which opened recently.
Bumper profits ebb at US oil giants as they tout big fossil deals
ExxonMobil and Chevron reported lower profits Friday compared with the year-ago blowout quarter as the oil giants touted recent acquisitions they said balance economic and environmental priorities.
Naira to appreciate as FG moves to boost Forex liquidity with $7bn NLNG dividends
The Nigerian government is reportedly moving to convert $7 billion NLN dividends to loans to boost foreign exchange liquidity and strengthen the naira.
Electrolux to cut 3,000 jobs as sales fall
Swedish home appliances maker Electrolux said Thursday it plans to cut some 3,000 jobs as it reported lower sales in the third quarter. In October last year, it announced it would cut 4,000 jobs worldwide but mainly in North America.
GM's Cruise pauses driverless car operations after California ban
US vehicle company Cruise has suspended all operations of driverless cars, the subsidiary of auto giant General Motors said Thursday, days after California authorities halted testing of its driverless cars in the state. California on Tuesday suspended testing of Cruise autonomous vehicles as robotaxis citing safety concerns following a series of accidents.
Tesla workers strike in Sweden over union demands
Tesla mechanics in Sweden walked off the job on Friday to protest against the electric carmaker's refusal to sign a collective wage agreement, the metalworkers union said. Pettersson said Tesla informed them Tuesday it would not sign a collective bargaining agreement, adding that the carmaker told the union they "don't do that anywhere in the world."
UK's NatWest bank showed 'serious failings' over Farage: probe
UK bank NatWest displayed "serious failings" in its treatment of the banking affairs of arch-Brexiteer Nigel Farage, an independent probe found Friday. NatWest chairman Howard Davies admitted the lender had made "serious failings" in the treatment of the politician.
Economy
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