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Nigerian political standoff threatens central bank independence

A standoff between Nigeria’s presidency and parliament over confirmation of new members of the central bank’s interest rate committee is threatening the bank’s independence and damaging fragile investor confidence in Africa’s biggest economy. The central bank had been due to announce its interest rate decision on Jan. 23, a day …

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Tax whistleblowers to get new protections

People who blow the whistle on corporate tax cheats will be protected under new laws that aim to encourage people to report white collar crime. The new protections will help protect the identity of people who report suspected tax offences, as well as allowing anonymous disclosures. Special Minister of State …

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Nigerian MPs begin investigation into suspension of SEC chief

Nigerian MPs begin investigation into suspension of SEC chief

ABUJA/LAGOS, Dec 5 (Reuters) – Nigerian lawmakers opened an investigation on Tuesday into the finance minister’s suspension of the head of the Securities and Exchange Commission (SEC), saying they would look into whether the ministry had interfered with the SEC’s work. Lawmakers in the House of Representatives plan to investigate …

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China Sept new yuan loans rise more than expected

SHANGHAI, Oct 14 (Reuters) – Chinese banks extended more loans than expected in September, buoyed by demand from home buyers and companies, even as the government tightened the screws to wean the economy off its years-long addiction to cheap debt. Banks extended 1.27 trillion yuan ($193.05 billion) in net new …

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Wall Street hits new record as techs, autos rise

Wall Street hits new record as techs, autos rise

(Reuters) – U.S. stock indexes touched new record highs on Tuesday, boosted by a rally in tech stocks and gains in Ford Motor (F.N) and General Motors (GM.N) after strong September vehicle sales. Eight of the 11 major S&P indexes were higher, led by technology .SPLRCT and consumer discretionary .SPLRCD …

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Automakers’ U.S. September sales lifted by hurricanes

DETROIT (Reuters) – Major automakers posted higher U.S. new vehicle sales in September, as consumers in hurricane-hit parts of the country, in particular southeast Texas, rushed to replace flood-damaged cars. Analysts and industry consultants had predicted that hurricanes Harvey and Irma would provide automakers with their first monthly sales gain …

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