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Nigerian industrialist Aliko Dangote opened his refinery to public ownership Monday with plans to raise $1.6 billion from retail investors across the continent in Africa’s biggest initial public offering, or IPO.
Asian shares were mostly lower Monday as shares of AI-related stocks, including Open AI investor SoftBank, declined following calls from Anthropic and OpenAI to slow AI development for safety.
Nigerian billionaire Aliko Dangote on Monday launched Africa’s largest share sale yet with the initial public offering of his oil refinery, opening up ownership of the plant to retail investors and raising money for its expansion.
Canada’s main stock index rose on Friday, breaking a string of negative moves throughout the week.
U.S. stocks are rebounding Friday and clawing back much of their losses for the week after oil prices eased off their recent spurt.
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Euro zone government bond prices recovered modestly on Friday, as the global debt market headed for its worst weekly performance since the start of the Iran war, battered by surging energy prices that are forcing central banks to act quickly to combat inflation.
The U.S. national average price of diesel on Thursday surpassed US$6 a gallon for the first time ever, according to price tracker GasBuddy, as the U.S.-Israeli war on Iran and Ukrainian attacks on Russia’s refineries have squeezed supply.
Canada’s main stock index fell 400 points on Thursday, while U.S. markets also lost ground and the price of oil topped US$100 per barrel.
Oil prices keep climbing to their highest levels since before the summer as the war with Iran keeps clogging the global flow of crude.
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An unwelcome update has reared its ugly head once again this week: the price of oil is on the rise.
Enbridge said on Wednesday it will acquire Blackstone-owned Tallgrass Energy’s crude oil business for US$2.55 billion in cash, expanding its U.S. liquids pipeline network by buying a majority stake in the Pony Express Pipeline and other assets.
Oil prices shot past US$100 a barrel Wednesday as fighting between the U.S. and Iran escalated, threatening to increase costs for consumers and businesses worldwide.
Fuel prices tend to ease off around this time of year, but one industry expert says drivers should expect no such relief this time.
U.S. stocks on Wall Street lost ground again as the price of crude oil climbed back above US$100 a barrel amid further escalation in the U.S. war with Iran.
