NIGERIA

Global and regional priority brands lift Gruppo Campari’s nine months results

BUSINESS, New Products, News, NIGERIA, Nigerian state programs, wazobia companies
Italian spirits firm Gruppo Campari reported a €1.27bn in revenue for the nine months to the end of September, an 8.1% increase over the previous year. The company behind brands such as Campari, Skyy vodka, Aperol, among others credits its sales growth to the performance of its high margin global and regional priority brands as well as a slightly positive exchange rate effect of 0.3%, driven by the progressive strengthening of the Euro against many of the group’s trading currencies. The company said it also benefitted from the combined perimeter effect of the Grand Marnier acquisition in July 2016, the termination of some distribution agreements and the sale of non-core businesses. Group Pre-tax profit rose 81.1% to €238.2m from €131.5m in the previous year. The company said that the Ameri

Japan’s top two lavatory-makers are at last making inroads overseas

african inspired, BUSINESS, News, Newspaper, NIGERIA, Nigerian News, Nigerian state programs, wazobia companies
WHEN staff at the Louvre in Paris head to the bathroom, the toilet lid opens as they approach, a warm seat heats their derrières, and, once done, their nether regions are washed and dried precisely. Selling the equipment is a coup for Toto, Japan’s biggest producer of “shower toilets”.Toto and its rival Lixil carve up the Japanese market for fancy, multi-function loos between them. At home they have market shares of 60% and 30% respectively, according to Nomura Securities, a brokerage. Yet they have struggled to win foreign bottoms over to luxuries enjoyed in Japan for many decades.Today 26% of Toto’s and 30% of Lixil’s revenues come from abroad (much of it from products other than shower toilets). The Japanese market is profitable, but their loos are already ubiquitous there (including in

Trouble for the AT&T-Time Warner deal

african inspired, BUSINESS, News, Newspaper, NIGERIA, Nigerian News, Nigerian state programs, wazobia companies
In the eye of a stormTHE titans of media in America have decided this is an opportune moment to join together in mega-mergers, the better to take on the giants of Silicon Valley. The problem for them is that the Department of Justice (DoJ), and President Donald Trump himself, are less keen.On November 8th reports surfaced that the DoJ is preparing to block a proposed $109bn acquisition by AT&T of Time Warner, owner of CNN, HBO and the Warner Brothers film studio—a deal that was announced a year ago and which had been expected to win approval by the end of 2017. The DoJ have reportedly told AT&T executives that to get the merger through they would have to sell off assets: either Time Warner’s Turner Broadcasting division, including CNN, which Mr Trump has repeatedly attacked as “fake news”,

Regulators begin to tackle the craze for initial coin offerings

african inspired, BUSINESS, News, Newspaper, NIGERIA, Nigerian News, Nigerian state programs, wazobia companies
“I’M GONNA make a $hit t$n of money on August 2nd on the Stox.com ICO.” Written in July on Instagram, these words made Floyd Mayweather, a boxer, the first big celebrity to endorse an “initial coin offering”, a form of crowdfunding that issues cryptographic coins, or “tokens”. Stox, an online prediction market, went on to raise more than $30m, some of which seems to have gone directly into Mr Mayweather’s pocket. Other VIPs, including Paris Hilton, a socialite, followed suit and endorsed ICOs. But this source of easy cash may now be drying up: on November 1st America’s Securities and Exchange Commission (SEC) warned that such promotions may be unlawful, if celebrities fail to disclose what they receive in return.The endorsements and the SEC’s attempt to rein them in are the latest episodes