US regulators have shut down Silicon Valley Bank (SVB) and taken control of its customer deposits in the largest failure of a US bank since 2008. The moves came as…
Category: Business News
Tanzania: Forex reserves running low
Tanzania and her East African neighbours are facing a foreign currency reserve crisis. President Samia Suluhu Hassan said Tanzania had received requests to offer guarantees for their fuel imports. She…
Kenya: US dollar shortage out of our control – minister
Kenya’s Trade Minister Moses Kuria has said the dollar shortage in the country is beyond the government’s control. Mr Kuria told MPs that the shortage was a global issue but…
Ukraine: Kyiv denies involvement in Nord Stream pipeline blasts
Ukraine has denied any involvement in September’s attack on the Nord Stream pipelines, which were built to carry Russian natural gas to Germany. The denial follows a report from the…
UK: CBI boss Tony Danker steps aside after misconduct allegations
The boss of one of the UK’s largest business groups has stepped aside while an investigation takes place into complaints about his conduct at work. The CBI said it took…
India: Embattled giant Adani Group strikes $1.87bn US deal
Indian multi-billionaire Gautam Adani’s embattled business empire says it has secured $1.87bn (£1.6bn) of investment from a US-based asset management firm. Florida-headquartered GQG Partners has bought shares in four of…
Zoom boss Greg Tomb fired ‘without cause’
Video conferencing platform Zoom has sacked its president, Greg Tomb, a former Google executive. Mr Tomb’s contract was abruptly terminated “without cause”, according to the company in a regulatory filing.…
Nigeria: Old bank notes still legal tender- Supreme Court
Nigeria’s Supreme Court has ruled that old banknotes remain legal tender until the end of the year, bringing relief to millions affected by a chaotic redesign of the naira notes.…
USA: Whiskey fungus lawsuit forces Jack Daniels to halt building project
A Jack Daniels building project is to be halted after a neighbour argued she was facing a plague of whiskey fungus caused by escaping alcohol vapours. Christi Long, of Lincoln…
India: Government bans TikTok, WeChat and dozens more Chinese apps
India’s government has banned TikTok and dozens more Chinese-made apps it says are a danger to the country. In a statement, it said the apps were “prejudicial to sovereignty and…