India raises minimum export price for onions

India has raised the minimum export price for onions, to maintain price levels at home, as fears grow of a shortage because of adverse weather conditions.

Effective immediately, exports of onions can only take place at or above the price of $500 (£292) per tonne.

That is a 67% jump from the government's recent pricing policy on a key ingredient for Indian dishes.

Two weeks ago the government had set a minimum export price of $300 per tonne.

But at a recent meeting the government's findings showed that wholesale and retail prices of onions have been going up.

The inter-ministerial committee said in a statement

JP Morgan boss Jamie Dimon to carry on despite cancer

JPMorgan Chase chairman and chief executive Jamie Dimon says he will continue to run the bank despite being diagnosed with throat cancer.

Mr Dimon said his condition was curable and that he would remain "actively involved" in the business.

"We will continue to run the company as normal," he wrote in a letter to staff and shareholders.

Mr Dimon said the bank's board had been "fully briefed" and were "very supportive".

"The good news is that

Facebook faces UK probe over emotion study

A UK regulator is investigating whether Facebook broke data protection laws when it conducted a psychological study on users without their consent.

The test saw Facebook "manipulate" the news feeds of nearly 700,000 users to control which emotional expressions they were exposed to.

The Information Commissioner's Office (ICO) said it planned to question Facebook over the study.

Facebook said it had taken "appropriate protections for people's information".

"We are happy to answer any questions regulators may have," Facebook's Richard Allen said in a statement.

Fashola wants Apapa tank farm owners to act more responsibly

Following the massive traffic problem and the new security threat in the Apapa area, Lagos State Governor, Babatunde Fashola, Tuesday met with operators of Tank farms in the area and urged them to conduct their businesses with more consideration for others and to be vigilant.

Apapa which accommodates two of the nation’s busiest sea ports and several other businesses has been plagued by traffic gridlocks which take hours to navigate and cuase pain and losses to commuters and businesses.

The major cause are the

Telecoms sector not included in GDP rebasing, says Nigerian-British chambers

The Nigerian-British Chamber of Commerce, NBCC, has said that following the rebasing of the Nigeria’s GDP figures, the telecommunication sector, which has grown exponentially in the past 10 years and one of the fastest growing in the world, was not included in the country’s GDP.

In his welcome remark at the opening ceremony of the 2014 NBCC trade mission to the UK, at the London Chamber of Commerce, President of NBCC, Prince Adeyemi Adefulu, recalled on the 6th of April, the Nigerian National Bureau of Statistics announced a rebasing of the Nigeria’s GDP figures.

“The justification for the exercise was the need to

GM's ignition-switch crisis deepens; death toll rises to 16

General Motors Co's (GM.N) ongoing safety crisis over deadly ignition switches deepened on Monday with the recall of 8.23 million mostly older cars linked by the U.S. automaker to three deaths.

The latest recalls boosted the number of deaths acknowledged by GM to at least 16 in cars with switch-related problems. The automaker said it now knows of 61 crashes tied to faulty ignition switches, although U.S. lawmakers and safety regulators have said they expect the death toll to climb.

The latest fatalities occurred in two separate high-speed crashes, one involving a 2003 Chevrolet Impala, the other a 2004 Impala, according to GM spokesman Jim Cain. The air bags failed to deploy in both crashes, Cain said, but GM cannot conclusively link the nondeployment to the ignition switches.

"Among these recalled vehicles,

After BNP, U.S. targets range of firms in crackdown on illicit money flows

BNP Paribas’ guilty plea and agreement to pay nearly $9 billion for violating U.S. sanctions is part of a larger U.S. Justice Department shift in strategy that is expected to snare more major banks and other firms across the financial food chain.

Two other major French banks, Credit Agricole and Societe Generale, Germany's Deutsche Bank AG, and Citigroup Inc's Banamex unit in Mexico are among those being investigated for possible money laundering or sanctions violations, according to people familiar with the matter and public disclosures.

The Justice Department and other U.S. authorities, including the Manhattan District Attorney, are probing