Economy
Trial into Brazil mining disaster to open in London
A long-awaited trial into whether Australian miner BHP is liable for one of Brazil's worst environmental disasters opens in London on Monday, potentially triggering compensation totalling billions of dollars. Vale has offered to share any compensation BHP ends up paying as a result of the London trial.
UN report says 1.1 billion people in acute poverty
More than one billion people are living in acute poverty across the globe, a UN Development Program report said Thursday, with children accounting for over half of those affected. The five countries accounted for nearly half of the 1.1 billion poor people. af-nr/bjt/jgc
China to boost credit for property market, renovate 1 mn homes
China said Thursday it would boost the credit available to the ailing property market and help renovate a million homes as it unveiled another round of measures to shore up the sector and try to reignite the economy. "An additional one million worn-out homes... will be renovated," he added.
ECB set to cut rates again as inflation cools
European Central Bank policymakers meet on Thursday with fading price pressures and weaker economic activity in the eurozone nudging them towards making another cut to interest rates. "The ECB is on a path to cut interest rates at each one of the next five policy meetings," including Thursday's gathering, HSBC bank analyst Chris Hare said.
Asian markets rally, with eyes on China housing briefing
Asian markets rose Thursday as Chinese investors waded back ahead of a briefing in Beijing by the country's housing minister that fanned hopes for more measures to support the ailing property sector.
Raytheon to pay $950 mn over fraud, bribery schemes: US
Raytheon, a subsidiary of major American defense contractor RTX, will pay more than $950 million to resolve fraud and bribery charges, the US Justice Department announced Wednesday. Raytheon has "agreed to pay more than $124 million to resolve charges that it violated the Foreign Corrupt Practices Act," the SEC said. bur-elm-st/wd/des/md/des
Lower rates, surging stock market fail to ignite US IPO market
Public listings on Wall Street have seen a slow comeback in 2024 despite a resilient US economy, a long-awaited interest rate cut by the central bank and stock valuations hitting record highs.
CBN orders Nigerian banks to refund N7.05bn as customers of GTBank, Zenith, others battle network
The Central Bank has revealed that banks operating in the country have refunded about N7.05bn and $714,569.03 to customers following its intervention.
Panama Canal crossings down 29 percent due to drought
Traffic in the Panama Canal fell by 29 percent over the past year due to a severe drought linked to climate change, the canal's operator said late Tuesday. The volume of cargo shipped through the canal, which links the Atlantic and Pacific oceans, was down by 17 percent in a year to 423 million tons, the canal authority of the central American country added.
Economy
Load more