• Samsung Electronics reportedly considering splitting up business

    Samsung Electronics reportedly considering splitting up business

    South Korea’s Samsung Electronics Co Ltd will consider splitting itself into two as proposed by U.S. activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source.

    A split would allow the heirs of the founding Lee family to strengthen their grip on the global smartphone leader, the crown jewel of the Samsung Group business empire. Elliott proposed a split in October to boost shareholder value.

    Samsung’s board of directors will meet on Tuesday and respond to Elliott’s […]

  • China threatens to cut iPhone sales if Trump declares a trade war

    China threatens to cut iPhone sales if Trump declares a trade war

    China’s state-run newspaper says the government would respond with “countermeasures” if President-elect Donald Trump starts a trade war against the country, warning that the sales of iPhones and US cars would suffer a “setback.” In an editorial published on Sunday, the Global Times said it would be “naive” for Trump to follow through on his campaign promises to implement a 45 percent tariff on Chinese exports to the US and to declare the country a currency manipulator.

    Trump repeatedly targeted China […]

  • CBN resumes dollar sales to BDCs today

    CBN resumes dollar sales to BDCs today

    According to reports, the Central Bank of Nigeria (CBN) will today resume dollar sales to Bureaux De Change (BDCs) seven months after it stopped the practice.

    It stopped the sales last January because of what it called dollar scarcity and abuse of operating guidelines.

    Speaking to The Nation yesterday, Aminu Gwadabe, Association of Bureau De Change Operators of Nigeria (ABCON) President, said nearly 3,000 BDCs are expected to access dollar from the CBN today.

    He said the BDCs had on Wednesday, funded their […]