Economy
US consumer inflation falls before Fed interest rate decision
US consumer inflation continued to cool last month, according to US government data published Wednesday, giving the US Federal Reserve some positive news shortly before it publishes its latest interest rate decision. Wednesday's data is unlikely to sway the Federal Reserve's plans to leave its key lending rate unchanged later on Wednesday.
Nigerian bank, state govt close N14 billion deal to roll out 5,000 electric tricycles
In a landmark agreement, the Alternative Bank has signed a pioneering deal with the Niger state government to facilitate the supply of 5,000 electric tricycles.
EU to slap extra tariffs of up to 38% on Chinese electric cars
The European Union threatened on Wednesday to hit Chinese electric car imports with additional tariffs of up to 38 percent from next month following an anti-subsidy probe, a move that risks triggering a trade war. The EU's tariffs, while high, are lower than the United States' 100-percent rate imposed from last month on Chinese electric cars.
World will amass 'major' oil surplus by 2030: IEA
The world is likely to have a major surplus of oil by 2030 as production is ramped up while the clean energy transition tempers demand, the International Energy Agency said Wednesday.
US inflation data unlikely to alter Fed plans to hold rates steady
Fresh US consumer inflation data published Wednesday is unlikely to sway the Federal Reserve, which is widely expected to leave its key lending rate unchanged and lower the number of cuts it has penciled in for this year.
UK economy stagnates heading into general election
Britain's economy stagnated in April after emerging from recession in the first quarter of the year, official data showed Wednesday ahead of the country's general election next month. Britain had emerged from a short-lived recession with growth in the first quarter of this year.
Nigeria's dyed cloth traders feel heat from China, inflation
Despite the rain pelting Balogun market in Lagos, Ajoke takes her time choosing the tie-dye fabric known as adire that she wants to give as a gift. - Competition and crisis - Adire fabric is produced using the tie-dye technique.
Asian markets stutter as investors fret ahead of US releases
Worries about upcoming US inflation data and the Federal Reserve's outlook for interest rates permeated Asian trading floors Wednesday, while the euro continued to struggle owing to political uncertainty in Europe fuelled by shock EU election results.
Mexican president-elect says investors have nothing to fear
Mexican president-elect Claudia Sheinbaum said Tuesday that investors had nothing to fear from proposed judicial reforms that have rattled confidence in Latin America's second-largest economy. "Their investments are safe in Mexico, within the framework, obviously, of our laws," said Sheinbaum, who was elected Mexico's first woman president by a landslide on June 2.
Economy
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