Connect with us

Business

Stock Index Futures Record Mixed Fortunes

Published

14 years ago

on

United States stock index

futures pointed to a mixed start for Wall Street on Tuesday, with futures for the S&P 500 and Dow Jones futures down 0.02 percent and Nasdaq 100 futures up 0.09 percent by 3.55 a.m. EDT.

Microsoft Corp will be in focus after it admitted its largest acquisition in the Internet sector was effectively worthless and wiped out any profit for the last quarter. Microsoft shares traded in Frankfurt eased 0.8 percent.

European stocks climbed for the third session in a row as a recent raft of weak U.S. and European macro data has raised investors’ expectation that central banks will soon take fresh policy action to kick-start their economies.

A majority of analysts expect the European Central Bank to trim interest rates at its policy meeting on Thursday, with most predicting a 25 basis point cut to 0.75 percent. The survey was taken before European leaders agreed a more flexible use of euro zone rescue fund late last week, but given recent economic data and rhetoric from the central bank’s policymakers, analysts are still betting on more monetary easing.

Monday’s U.S. ISM manufacturing index, which registered a contraction in the sector for the first time since July 2009, also boosted speculation that the Federal Reserve will announce it will embark on a third round of asset purchases, known as ‘QE3’, perhaps as soon as the central bank’s next policy meeting from July 31 to August 1.

On the macro front, investors awaited the Institute for Supply Management-New York June index of regional business activity, due at 9.45 a.m. EDT, and May factory orders, due at 10 a.m. EDT. Economists in a Reuters survey expect a rise of 0.2 percent in factory orders compared with a 0.6 percent decline in April.

Barclays Plc Chief Executive Bob Diamond quit with immediate effect on Tuesday over an interest-rate-rigging scandal, becoming the highest-profile victim so far in a probe that spans a dozen major banks across the world.

A U.S. judge on Monday rejected a request by Samsung Electronics Co. <005930.KS> to lift a ban on U.S. sales of its Galaxy Tab 10.1, another setback for the South Korean firm in its tablet patent battle with iPad maker Apple Inc. .

U.S. investment management firm BlackRock is buying Swiss Re’s European private equity and infrastructure fund of funds franchise, it said on Tuesday.

Activist investor Carl Icahn said on Monday he intends to look into disclosures that Forest Laboratories Inc CEO Howard Solomon made before selling stock in the U.S. drugmaker over the years, launching the latest salvo in his proxy fight against the company.

U.S. states and localities have run up more than $2 trillion of unfunded pension liabilities, Moody’s Investors Service said on Monday, citing data on plans offered by 8,500 local governments and over 14,000 individual entities.

U.S. stocks edged higher on Monday, shaking off a surprise contraction in U.S. manufacturing, which some investors took as a signal the Federal Reserve will take more forceful actions to boost the economy.

The Dow Jones industrial average eased 8.7 points, or 0.07 percent, to 12,871.39. The Standard & Poor’s 500 Index rose 3.35 points, or 0.25 percent, to 1,365.51. The Nasdaq Composite Index added 16.18 points, or 0.55 percent, to 2,951.23.

Related Topics:
Continue Reading

Transport

Automated Points Concession : FAAN Workers Gave 72hrs To Revise Decisions In PH

Published

6 days ago

on

March 2, 2026

By

The trapatriate Unions conprising the National Union of Air Transport Employees (NUATE), and the Air Transport Service Senior Staff Association of Nigeria, (ATSSSAN),  has given 72 hours Ultimatum to Federal Airport Authority of Nigeria FAAN, Omagwa Airport, Portharcourt to revise its recent decision on the concession of Tollgates and Parks to private hands.
The chairman of the Trapatriate Union, Comrade Felix Ohwoefe gave the Ultimatum yesterday immediately after the joint Unions meeting held at the Airport office of the union, Omagwa, Portharcourt.
Comrade Ohwoefe who double as the chairman of the National Union of NUATE said the two Unions have agreed to take drastic actions if the Authority of the Airport declined to step down it’s decision of concessioning the major revenue points to private hands.
According to the Union chairman, the  two union was not aware of the  concession plans, and that there were no due process to the procedures.
Comrade Ohwoefe said any attempt for the Airport Management to decline it’s demands towards the concession will result to barricading all entrance and access points of the Airport.
Expressing the  the challenges associated to the concession, the Union Chairman said the gesture might resulted to massive sack of workers in the Airport.
The chairman also expressed foul play on the part of either individuals or government in the terms and conditions so given to the concessionaires, demanding the reasons of contracting the automated points to private hands for only 14 millions, when the FAAN is presently generating over 28 million naira monthly, even when the tariff was not  reviewed upwards.
He describes the process to the procedures as fraud with intention to increase unemployment in the state.
“We are not against the concession of the Automated points, but due process must be followed. If government is concessioning the place, we are asking what will happen to our workers in the existing units.
“Secondly, if the concessionaires is taken over, they must pay higher than what the FAAN is generating presently, we are generating to the Management over 28 Millions monthly, but we had that the private company is required to pay only 14 Millions monthly, which is far below 5 percents of what we are generating presently, even when the tariff is increased, which means there is a foul play.
“The process is fraud either on the part of individual in the Government, or Government itself.
” The unions is saying no to the Concession until we come to a terms of understanding ourselves., we are afraid of loosing workers, we don’t want to loose any workers if due process is not followed in this hard of economy,  we even demanding for employment of more workers in FAAN.” Comrade Ohwoefe said.
The Union used the opportunity to called on the minister of aviation, and the President of the Country, Bola Tinubu to intervene.
When contacting the Management of the Airport Authority through the head of Corporate Affairs, Dr Ngozi V. Onyeanwuna-Nwosu,  she said the management has not given her the approval to say something.
Continue Reading

Transport

FAAN Announces Pick-Up Points for Go-Cashless Cards

Published

6 days ago

on

March 2, 2026

By

The Federal Airports Authority of Nigeria (FAAN) has announced designated pick-up points for individuals wishing to obtain their Go-Cashless cards ahead of the March 1, 2026 deadline.
This was announced in a statement signed by the Director Public Affairs and Consumer protection, Henry Agbebire  and made available to the Tide last Friday in Portharcourt.
According to the statement,  Go-Cashless cards is at all  FAAN commercial offices and access gates of Airports in the country .
The release further stated that cards will also be available at designated branches of Fidelity Bank Plc from March 16, 2026.
FAAN in the statement said the cashless policy followed the Federal Government directive mandating all Ministries, Departments and Agencies (MDAs) to transition to a cashless system to enhance transparency and reduce revenue leakages as well improve transaction traceability in the Aviation sector.
FAAN  reiterated its commitment to full compliance with the directive, appealing to the public for their understanding and cooperation during the transition period.
FAAN also inform that the Go-Cashless cards can still be obtained at the designated points after the March 1, deadline.
The Authority assures airport users that the initiative will promote faster, safer, and more convenient transactions across its airports nationwide.
By: Enoch Epelle
Continue Reading

Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

Published

1 week ago

on

February 27, 2026

By

Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).
According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.
 Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.
During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.
He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.
Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.
Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.
These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.
Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.
 This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.
It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.
It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
By: Nkpemenyie mcdominic, Lagos
Continue Reading

Trending