Court Halts NMDPRA from Shutting Dangote Refinery
A Federal High Court in Lagos has issued an interim injunction restraining Nigeria’s petroleum regulator from shutting down or interfering with Dangote Refinery’s operations.
Business
Latest reporting from the Business desk, in reverse chronological order.
Brent crude rises above $90 after U.S. strike near Strait of Hormuz
Brent crude oil prices climbed above $90 per barrel on 31 August after the U.S. military targeted Iranian rocket launchers preparing to deploy mines into the Strait of Hormuz.
Stocks hover near highs as investors wait for Fed signals and a new wave of heavyweight earnings
Markets entered January 28 with investors focused on the Federal Reserve’s next signal, the outlook for inflation and jobs, and the impact of AI spending on corporate profits. With equities near record territory, traders weighed whether strong tech earnings and softer-rate expectations can keep the rally intact, even as restructuring and layoffs remain a reality for large employers.
Markets end mixed as investors await Fed decision and Big Tech earnings
U.S. stocks finished mixed Tuesday with attention on an upcoming Federal Reserve policy statement and fresh results from major technology companies, while quarterly earnings reports continued to move individual names.
BLS release schedule highlights a January 28 update on U.S. weekly earnings data
The U.S. Bureau of Labor Statistics’ 2026 release calendar lists a data publication on Wednesday, January 28, 2026 for “Usual Weekly Earnings of Wage and Salary Workers (Annual 2025).” The schedule underscores how wages and labor-market metrics remain central inputs for policymakers, businesses, and households tracking inflation, purchasing power, and staffing decisions as the year begins.
U.S. faces greater outbreak risk as CDC surveillance databases stop or delay updates, study says
A study reported in HealthDay News and published in Annals of Internal Medicine says many CDC health surveillance databases stopped or slowed updates in 2025, weakening the nation’s ability to track infectious diseases, vaccination trends and overdoses.
Fed expected to hold rates steady as Powell faces a DOJ probe and political pressure mounts
The Federal Reserve is widely expected to keep interest rates unchanged this week after cuts in 2025, with inflation still above target and the labor market cooling. The meeting comes as Chair Jerome Powell faces a Justice Department investigation tied to Fed building renovations.
Markets watch earnings as Medicare Advantage rate proposal hits insurers; chip stocks lift futures
U.S. futures were mixed as investors weighed major earnings and a CMS proposal pointing to a slim 2027 Medicare Advantage payment increase, pressuring health insurers while chip-linked names helped support tech-heavy indexes.
Fed expected to hold rates steady as Powell faces DOJ scrutiny and White House pressure ahead of May term end
The Federal Reserve is widely expected to leave interest rates unchanged at its first meeting of 2026. The decision comes amid stubborn inflation, a cooling labor market, and intensifying political pressure as Chair Jerome Powell confronts a Justice Department probe related to Fed building renovations and approaches the end of his term in May.
Health insurer stocks slide after CMS proposes tiny Medicare Advantage payment increase for 2027
Shares of major U.S. health insurers fell after the Centers for Medicare & Medicaid Services projected a net average payment increase of just 0.09% for Medicare Advantage in 2027. The proposal surprised analysts and amplified investor anxiety already heightened by scrutiny of Medicare Advantage practices.
UPS plans up to 30,000 job cuts in 2026 as it reshapes network and reduces Amazon volume
UPS says it will cut as many as 30,000 operational jobs in 2026 through buyouts and attrition, while closing facilities and shifting focus to higher-margin segments such as healthcare. The company is continuing to scale down Amazon package volume as part of a broader restructuring designed to align costs with demand.
Markets brace for Fed decision as winter storm disrupts travel; gold hits fresh records amid uncertainty
Investors headed into a major week of earnings and a Federal Reserve decision with futures flat, while a sweeping winter storm disrupted travel and safe-haven demand pushed gold above new highs, reflecting heightened anxiety around policy and geopolitics.