JD Sports is facing an investor backlash after handing its boss a £4.3m bonus despite benefiting from millions of pounds in Covid support. Executive chairman Peter Cowgill’s total pay, including a short-term salary reduction, reached nearly £5m. Shareholder advisory group Glass Lewis recommends that investors vote against JD Sports’ “inappropriate” pay policy. The retailer received…
Victoria Edeme Former Super Eagles captain, Mikel Obi, on Sunday paid a courtesy visit to the Governor of Kogi State, Yahaya Bello. Bello made this known on his Facebook page as he uploaded a picture of himself and the football star. The Governor wrote, “Earlier today, I received in audience my dear brother and friend,…
Leaders of the major industrial nations have pledged one billion Covid vaccine doses to poor countries as a “big step towards vaccinating the world”, Boris Johnson has said. At the end of the G7 summit in Cornwall, the PM said countries were rejecting “nationalistic approaches”.G7: World leaders promise one billion Covid vaccine doses for poorer…
Dividend yields on Nigerian stocks are ahead of those available on Africa’s major stock markets – but investors will have to tread carefully to avoid the pitfalls, analysts say. The dividend yield on the NSE 30 Index at the end of May stood at 6.26%, meaning income for investors was more than 50% higher than…
Plans by Nation Media to carry out Kenya’s first share buyback may be copied by other companies needing to reward shareholders as stock prices languish. The company proposed buying back up to 10% of its stock in a circular sent to shareholders on 31 May. The buyback, subject to shareholder approval, will run until 24…
A forecasted decrease in GCC sukuk, Egypt’s enticing yields, and business sectors that have thrived during the pandemic could guarantee the country an auspicious low-cost debut of the Islamic bonds. On the other hand, the sukuk could lead to a rise in utility bills. Egypt’s impending issuance of the sovereign sukuk is widely hailed as…
Chinese Premier Li Keqiang shakes hands with Nigerian President Muhammadu Buhari at the Diaoyutai State Guesthouse in Beijing, China, September 5, 2018. Parker Song/Pool via REUTERS The great internet firewall of China remains the most prominent example of state internet filtering used to control what happens online. President Muhammadu Buhari’s administration reportedly wants to take…
Nigerian banks are faced with low growth and a punitive cash reserve ratio of 27.5% at home. They are betting on the African Free Trade Zone to expand elsewhere on the continent. However, the profitability of their subsidiaries outside Nigeria is relatively average. Are they falling into an expansionary trap? A pastoral setting, an elegantly…
Manchester United have had an opening bid of £67 million ($95m) rejected for Jadon Sancho. The England international is one of Ole Gunnar Solskjaer’s top targets this summer after a deal failed to materialise for the 21-year-old last year due to a gap between the two sides over valuation. Solskjaer is still keen to strengthen…
