T-MOBILE & SPRINT MERGER ON THE HORIZON, IT DEPENDS ON WHO U ASK?

By Economic & Finance Report

It seems that two cell phone providers are seeking to merge in a global partnership. It has been noted that T-Mobile and Sprint are mergering to form a super cell phone network; which will then in place only bring about three top cell phone providers internationally.

The new company will be called T-Mobile. The deal is worth around $26.5 billion and values estimates the alliance to be worth around $150 billion after completion.

The merger can expect tough regulatory hearings on the formation of the partnership, especially by Chairman Ajit’s FCC, and select congressional committees.

Many analysts see the merger approving between 50%-60%, in passing regulatory approval. They also indicate the stakes are higher for Sprint then they are for T-Mobile, for regulatory approval. -SB

 

PRESIDENT TRUMPS EXECUTIVE ORDER ON THE LABOR DEPT’S FIDUCIARY RULE!!!!!!!!!!!!!!!!!!

By: Economic & Finance Report

 On Friday February 3, 2017, President Donald J. Trump signed his latest executive order; on the significance and obligation of the Fiduciary Rule as it is called. The Labor Dept last year instituted the Fiduciary Rule for the prevention of financial advisers, giving conflicting advise to retirees. The rule was meant to prevent misinformation and a conflict of interest between the adviser and his/her client (retiree).

The Executive Order issued by President Trump issues the Labor Dept to prepare implementations of economic and legal analysis of the rule in various areas, and that the Secretary of Labor has the authority to rescind and revise the rule as he/she sees fit. The order most likely will  go into effect immediately….-SB

PRESIDENT TRUMP GIVES NOD TO KEYSTONE XL PIPELINE & DAKOTA OIL PIPELINES……

By: Economic & Finance Report

President Donald Trump approved two major oil pipelines today, one being the Keystone XL pipeline and the other being the Dakota oil pipelines. Both pipelines were blocked under President Barack Obama’s administration. Both pipelines were cleared to help produce jobs in the midwest region going into Canada, but many environmentalists believe the projects hamper the environment and don’t create as much jobs as Republicans have indicated it would create.

The pipelines have created major debate between environmentalists and job creators about the issue, and the debate has been lingering on for the past couple of years. President Obama disavowed the approval of the pipeline in 2015 because he believed that climate change policies would be affected dramatically. Trump believed different on the issue stating that not approving the pipeline permits would affect the economy and job creation.

Both sides held compelling arguments and as President Trump won the general presidential election; his argument saw the light of day. -SB

PRESIDENT ELECT TRUMP’S TREASURY SECRETARY NOMINEE STEVE MNUCHIN ON CAPITOL HILL(CAPITAL HILL)!!!!!!!

By: Economic & Finance Report

President Elect’s Donald Trump’s Treasury Secretary nominee, Mr. Steven Mnuchin was on the HILL today, being grilled by senators, on his various role(s) in US housing forecloseres, off shore investments, and banking regulations. Mr. Mnuchin is seeking to be the new Trump’s Treasury Secretary, and such is the case for candidates for any US secretary position, Mr. Mnuchin took the mound on Capitol Hill (Capital Hill), no pun intended.

Mnuchin answered questions on his numerous roles in housing foreclosures, banking investment and regulations; and how he managed to be appropriated upon all these different type of managerial skill sets, one may add? He answered all questions by senators and gave his opinion on what his duties as Treasury Secretary; under a Trump Administration would entail. -SB

P.s.  Donald J. Trump gets inaugurated as the 45th US President on January 20, 2017 at around noon 12pm est.

 

THE NIGERIAN STOCK EXCHANGE (NSE) SEEKS FOREIGN COMPANIES TO LIST ON THE EXCHANGE…….

nigerian stock exchange bldng   nigerian stock exchange pic

By: ECONOMIC & FIANANCE REPORT

The Nigerian Stock Exchange (NSE) will widen its scope on listing foreign companies on its exchange. They are doing so to broaden the demographic of foreign investment into the country. Companies who are seeking to invest in other parts of Africa will be included in the NSE and not limited to.

The the (NSE INDEX) has risen slightly  over the past few weeks, but it still has ranked way lower then the other 14 African Indexes currently. New rules will be accompanying the NSE in 2015. Regulations and rules that will be adhered; will concentrate on the markets performance as it relates  to Nigeria’s social, political, and economical issues and how the government manages to deal with the issues at hand.

Domestic/local investors are presumed not to be affected greatly by the drawn down of oil prices because of the preparation that was foreseen by the Nigerian Central Bank and the Nigerian Finance Ministry, but now the new rules and regulations will be able to hedge more on the risk as it is pertained in the future markets…

-SB

NIGERIA’S SEC CHIEF EXITS AFTER 5 YEARS ON THE JOB!!!!!!!

Arunma Oteh 2

BY: ECONOMIC  & FINANCE REPORT

 The head of Nigeria’s Securities and Exchange Commission Aruma Oteh has vacated her post after one full term. Ms. Oteh first came into the post during former President Umaru Yar’adua’s tenure in January 2010.

Ms. Oteh’s was  widely seen and hailed as a reformer, wanting to make Nigeria’s financial markets first class in Africa and the rest of the world. Her initiatives led to newer and up to date regulated (NSE) Nigerian Stock Exchange rules, that allowed fair accountability and competitiveness been businesses and financial trading.

-SB