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The economic downturn hitting Nigeria has shown face in 7-Up Bottling Nigeria Plc’s numbers as the company’s profit dropped and sales increased marginally. The company’s March 2016 audited financial statement showed sales grew by 3.85 percent to N85.23 billion from N82.45 billion in 2015. The single digit growth at the top line came as inflation ramped up […]Read More

Africa’s literary community lost a respected member, Captain Elechi Amadi, who passed away on Wednesday, June 29, 2016 at about 3.45pm in Port Harcourt. One of Africa’s finest novelists, poet and dramatist Captain Elechi Amadi died Wednesday at the Good Heart hospital in Port Harcourt at the age of 82. A relative, Mr. Bar Wabueze Amadi, confirmed […]Read More

The Ekiti State House of Assembly members on Wednesday held their plenary session on a major roundabout in Okesa Ado Ekiti to protest what they said was a witch-hunt against Governor Ayodele Fayose by the Federal Government.    They conducted their legislative session under a canopy while the area was sealed off by a detachment […]

Mr. Ayuba Wabba,  president of the Nigerian Labour Congress, said on Wednesday in Abuja that the Congress has withdrawn the strike notice it served on six commercial banks over the mass sacking of workers and redundancy in the banking sector on 15th June 2016. Wabba, stated this during a joint press briefing with the Director-General […]

Former Chief of Air Staff, Air Marshal Adesola Amosu, has been granted bail by a Federal High Court sitting in Lagos. Amosu was granted bail in the sum of N500 million‎. The Economic and Financial Crimes Commission (EFCC) arraigned him before the court on a 26-count charge of looting about N50 billion. The former Air Chief was arraigned […]Read More

Chairman of the independent National Electoral Commission Prof.  Mahmood Yakubu, has announced that his commission would fix dates for ‎suspended rerun elections in Rivers, Imo, Kogi and Kano States on Thursday. Chairman said that the commission was consulting with those he described as important stakeholder, including leaders of political parties and security agencies, in the […]

By the SRSrocco Report, This could be the year that the mainstream investor finally pushes the gold market over the edge.  While a fraction of investors continue to acquire a lot of physical gold, the mainstream investor is the key to driving the gold market and price going forward. Why?  Because the diehard precious metal […]

“If Brexit is used as an excuse, the central banks will print more money, QE4 in the U.S. is on the way and the depreciation in the purchasing power of currencies will continue,” warned a vociferous Marc Faber said in a Bloomberg TV interview today from Hong Kong.  “In that situation, you want to own […]Read More

Submitted by David Stockman via Contra Corner blog, Talk about not waiting for the body to get cold. The establishment oracles are out in force today proclaiming that Brexit has already been cancelled. Apparently, like in the case of the first negative vote on TARP, two days of currency and stock market turmoil have taught the rubes who voted for it the […]Read More

Over three years ago we wrote “At $72.8 Trillion, Presenting The Bank With The Biggest Derivative Exposure In The World” in which we introduced a bank few until then had imagined was the riskiest in the world. As we explained then “the bank with the single largest derivative exposure is not located in the US […]

Meet Joe. He used to make a steady income in manufacturing, but the work has disappeared. Now, he is selling everything and moving into his van.  Joe is one of the 71% of Americans who think the U.S. economic system is “rigged in favor of certain groups,” according to a new poll by Marketplace and […]

Randi Weingarten is the president of the American Federation of Teachers, and is a name that hedge fund managers and those on Wall Street are beginning to learn quite well. About a decade ago, some liberals joined conservatives in pushing to expand charter schools. As the WSJ reports, those efforts received financial support from hedge […]