Economy
Income gap widens as new survey shows only 5% of Nigerians earn above N500k monthly
As inflation raises the cost of living across Nigeria, a new survey has revealed a widening gap between the rich and poor. It shows how much Nigerians really earn.
Corona beer maker Modelo says to invest $3.6 bn in Mexico
Grupo Modelo, the producer of Corona and other Mexican beer brands, said Thursday that it would invest more than $3.6 billion in Mexico despite trade tensions with the United States. Last month, US retail giant Walmart said that it would invest more than $6 billion in Mexico this year, generating several thousand jobs.
American Airlines pulls 2025 forecast on economic uncertainty
American Airlines withdrew its full-year profit forecast Thursday, citing economic uncertainty that has clouded its outlook for hiring and capacity additions. While American plans to add between two and four percent flying capacity in the second quarter, the outlook is fuzzier for the second half of 2025.
European carmakers on China charm offensive as sales droop
Once blithely dominant in China, European automakers are now launching full-fledged charm offensives at consumers in the world's largest car market, seeking to claw back sales lost to domestic rivals. Volkswagen, the largest foreign automaker operating in the country, announced that by 2027 it would release more than 20 new cars for the local market.
Trump should be 'free' to criticize the Fed, senior official says
President Donald Trump should be free to voice his opinion about the US Federal Reserve, a senior bank official said Thursday, while defending the central bank's independence to tackle inflation.
Marketers project date that Nigeria will become a net exporter of petroleum
The activities of multiple refineries in Nigeria has increased refining capacity and marketers are projecting when Nigeria will become a net exporter.
Nigerians can now withdraw from cabotage funds, after 22 years of waiting
The Nigerian Maritime Administration and Safety Agency (NIMASA) has sent out a notice to shipowners as the Federal Government finally makes Cabotage funds available.
'Made in America' lingerie squeezed by Trump's tariffs
After years spent working in sweatshops in California, Francisco Tzul got a job at a trendy lingerie brand that prides itself on ethical business practices and a "Made in America" approach. "My whole point was that I wanted to... create jobs in an ethical way, and now they're making it impossible for me to do that," Hughes said.
US Treasury chief raised 'important issues' in IMF criticism: Georgieva
US Treasury Secretary Scott Bessent's criticism of the International Monetary Fund raised "a number of important issues" to grapple with, the head of the Washington-based institution said Thursday.
Economy
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