Stanbic IBTC Collaborates With Google To Train Entrepreneurs On Digital Skills

One of Nigeria's commercial banks, Stanbic IBTC is partnering with Google to train young Nigerians in the SMEs sector on digital skills.

According to a statement by the Bank in Lagos, “the collaboration would facilitate capacity-building for SMEs in the country, adding that beneficiaries would be trained on skills and value of digital marketing”.

Toyota Shuts Down Eight Lifts In Tokyo To Cut Costs

Toyota, the world's biggest automaker, has shut down two out of eight lifts at its Tokyo headquarters in an effort to cut costs.

Air conditioning temperatures have also been adjusted amid concerns about the weak global economy and as the strengthening yen eats into profits.

Toyota said the move was to help the company "stay lean". It took similar steps during 2008's financial crisis. But the company did not disclose how much it expected to save.

US Oil Closes Up 0.6 Pct, At $45.41, After Choppy Session

Crude prices were higher in choppy trading on Friday, with Brent on track to its largest weekly drop in six months, as strong U.S. jobs data and bargain hunting by investors pitted against seasonally weak consumption of oil,reports CNBC.

NSE 2015 Income Drops By 17% - Report

The Nigerian Stock Exchange has reported that its total income dropped   to N6.61bn from N7.733bn in the 2015 financial year.

The NSE operating surplus before taxes declined by 53 per cent from the N3.95bn recorded in 2014.

Nigeria Government Urges China To Reduce Exports Tariff

As the current trade between the Nigeria and China increased to $5.9 billion in the last five  years. Nigeria Government has urged China to reduce the 5 per cent tariff placed on Nigeria’s agricultural exports to China.

The volume of trade between the two countries rose from $6.37 billion in 2009 to $14.94 billion in 2015 due to China’s increased investment in a number of sectors.

One or Two Other Banks Have Failed Liquidity Test - CBN

The Central Bank of Nigeria might also replace the management of some commercial banks in Nigeria over liquidity just as it did to Skye bank.

The Director, Banking Supervision, CBN, Mrs. Tokunbo Martins, said “one or two” commercial banks had failed liquidity tests but they were not in the same situation as Skye.

The central bank on Monday said Skye Bank’s liquidity ratio had been below the regulatory limit for a while and it had resorted to its rediscount window for support, prompting its top executives to resign.

But Martins said the central bank was working with the banks to restore their ratios and sought to reassure depositors that there was no need to panic.

“We have our eyes on one or two other banks right now but they are not in a state of distress. We have our eyes on all banks,” Reuters quoted her to have said on Channels television.

After replacing Skye’s executives on Monday, depositors rushed to withdraw their funds. Martins said Skye was able to meet its obligations and that the central bank was providing support until the new management can bring in fresh funds.

The CBN during the week reiterated that no bank in the country is in distress, just as it reassured bank customers that their deposits are safe.

Nitendo Shares Surge Due To Pokemon Mobile App Success

 Nintendo shares have surged after its Pokemon GO smartphone game shot to the top of Apple's free app chart following its release this week.

Investors cheered signs that the Japanese giant's long-awaited shift into mobile gaming was paying off, sending the stock 9% higher.

Nintendo had for many years resisted introducing products with its best-known characters such as Super Mario Bros and Pokemon as it sought to protect its games console business.

US Adds 287,000 Jobs In June

The United States Department of Labour has revealed that the country added 287,000 new jobs in June, 2016 according to  report released Friday.

It's a massive rebound from May when the U.S. added a mere 11,000 jobs. Unemployment rose slightly in June to 4.9% (up from 4.7% in May). That's actually a good sign because it means more Americans are looking for work again.

The big boost in hiring in June alleviates fears that the U.S. economy is sputtering. It's especially welcome news after the Brexit shock that rattled markets. Stocks rallied Friday morning.

"The economy continues on a solid, but not spectacular path," says John Ryding of RDQ Economics.

Shares of Gun Companies and Makers Of Body Camera Surge Over Dallas Shooting

Stocks of gun companies and makers of body cameras surged Friday following the deaths of five police officers in Dallas and the killings of two black men -- Alton Sterling and Philando Castile -- by police in Baton Rouge and Falcon Heights, Minnesota earlier this week.

Gun makers Smith & Wesson (SWHC) and Sturm Ruger (RGR) both rose more than 3% in early trading Friday.

The two companies have rallied all week after the latest data from the FBI showed a big increase in background checks for guns in June -- a month when 49 people were killed at the Pulse nightclub in Orlando and "Voice" singer Christina Grimmie was shot dead, also in Orlando.

Both stocks often move higher following mass shootings. The rationale is that people rush to buy guns for their own personal protection ... but also due to fears that high-profile massacres will eventually lead to stricter gun control laws.

Samsung ‘Water Resistance’ Phone Does Not Resist Water - Consumer Reports

Consumer Report says a Samsung phone that's advertised as being "water resistant" actually isn't.

The problem appears limited to the Galaxy S7 Active, a rugged model available only through AT&T in the U.S. The standard S7 and S7 Edge models have the same claims on water resistance and passed tests.

McDonald's Sets To Book Over $200 Million In Charges

McDonald's said it would book more than $200 million in charges in the June quarter related to its planned sale of 4,000 restaurants to franchisees by 2018, the company said Thursday.

The $235 million charge, which also includes some costs tied to relocating its headquarters to downtown Chicago, would lower profit by about 20 cents a share, the company said.

Australia Cuts Iron Ore Price Forecast For 2016

Australia’s Department of Industry, Innovation and Science has cut its iron ore forecast to $44.2 a metric ton from $45 a ton, in its quarterly resources report.

The forecast comes amid a rally in iron ore prices this year, with prices jumping well almost 30 percent year-to-date.

Still, although spot iron ore price averaged $48 a ton in the first half of 2016, this was a 13 percent decline from a year ago, the department noted.

Uber Raises More Than $1 Billion With First Ever Leveraged Loan, WSJ Reports

Ride-hailing operator Uber has raised $1.15 billion from a new high-yield loan, the Wall Street Journal reported, citing a person family with the matter.

Twitter In Talks To Stream NBA, MLS Live

Twitter is in talks with the NBA, Major League Soccer and cable network Turner about acquiring digital streaming rights for content related to live sports and events, according to several sources familiar with the discussions.

That could include things like actual game footage similar to the deal Twitter struck with the NFL to stream some of its Thursday Night Football games later this fall. Or it could be fringe content, pre- or post-game material similar to the live interviews and analysis Twitter streamed around Wimbledon earlier this week. (It couldn't stream live tournament matches because ESPN holds those rights.)

Oil Prices Up On Friday After Two-Month Lows

Crude prices bounced back on Friday from two-month lows hit in the previous session, but benchmark Brent was in line for its largest weekly decline since January as bearish economic indicators weighed on oil.

Brent crude futures LCOc1 were trading at $46.58 per barrel at 0933 GMT, up 18 cents from their last settlement. U.S. crude CLc1 was up 17 cents at $45.31 a barrel.

Still, Brent and U.S. crude were heading for weekly losses of more than 7 percent, the deepest such declines since January and February, respectively.

US IRS Accuses Facebook of Unfairly Cutting Its Tax

 The U.S. Internal Revenue Service (IRS) said Facebook Inc (FB.O) may have understated the value of intellectual property it transferred to Ireland by "billions of dollars", unfairly cutting its tax bill in the process, according to court papers.

The U.S. Justice Department filed a lawsuit on Wednesday in federal court in San Francisco seeking to enforce IRS summonses served on Facebook and to force the world's largest social network to produce various documents as part of the probe.