MTN Group shares plunged more than 22% on Thursday morning after reports emerged that the Nigerian central bank has ordered four banks to refund more than $8-billion “illegally expatriated” by the telecommunications provider.

Struggling power utility Eskom is expected to submit an application to energy regulator Nersa for an average tariff increase of 15%/year for the next three years.

MTN Group’s unit in Ghana raised 1.1-billion cedis (R3.5-billion) selling about a third of the shares the wireless carrier made available in an initial public offering.

MTN Group has hit out at the Central Bank of Nigeria over a demand to refund more than $8-billion allegedly illegally expatriated from the country over an eight-year period.

Dyson, best known for its vacuum cleaners and hand dryers, is charging ahead with a £2-billion push to start building electric cars, unveiling plans to turn a former airfield into a vehicle testing site.

Amazon.com headed for its biggest gain in four months, pulling within US$26-billion of becoming America’s second trillion-dollar company, after Morgan Stanley said sales growth remains strong.

Apple has acquired Akonia Holographics, a six-year-old maker of displays for augmented reality glasses, as the iPhone maker explores a foray into the burgeoning field.

Eran Eyal, a South African-educated technology entrepreneur who now lives in the US, is facing criminal charges in the New York for allegedly stealing more than $600 000 from investors.

Nigeria ordered four banks including Citigroup and Standard Chartered to refund more than $8-billion it says was illegally expatriated by MTN Group over eight years through to 2015.

Vodacom is negotiating a wireless network sharing deal with Telkom as a replacement for former partner Cell C, according to people familiar with the matter.