Economy
Naira continues free fall in all markets as Africa’s largest bank predicts New FX rate in 2024
The naira crashed again on Friday, May 13, 2024, against the US dollar in the parallel and official markets, closing at N1,478 and N1,520, respectively.
Chief of state oil company dismissed in Brazil
The CEO of Brazil's state oil company Petrobras has been sacked, the government announced Tuesday. The March announcement caused the company's share price to plummet and was seen by some analysts and opponents as direct government intervention.
Asian markets mixed as focus turns to US inflation report
Asian markets wobbled Wednesday ahead of key US inflation data later in the day, with traders struggling to pick up the baton after a record performance on Wall Street. A sense of optimism on Wall Street pushed all three main indexes higher, with the Nasdaq hitting a new record and the S&P 500 coming within a whisker of its own all-time peak.
Brazil government announces Petrobras chief dismissed
The government of Brazilian President Luiz Inacio Lula da Silva announced Tuesday that the CEO of state oil company Petrobras has been sacked. During that time, the company saw four CEOs succeed one another in rapid succession.
Parts of Canadian city in oil sands region evacuated as wildfire draws near
Four neighborhoods of Fort McMurray, a city in Canada's major oil-producing region, were ordered evacuated Tuesday as an out of control wildfire drew near and thick smoke filled the skies.
Push for new US lithium mine leaves some Americans wary
When Kristal Lee and her husband bought a house in Gaston County, North Carolina two years ago, they envisioned a "forever home". Lee learned about the mine a year after moving into her current home -- when Piedmont mailed the family a gift of coffee and a note.
US says Boeing can be prosecuted for 737 MAX crashes
The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max crashes that killed 346 people approximately five years ago. Such a breach would mean Boeing can be prosecuted for any violation of federal law related to the crashes, according to US justice officials.
More money pledged for flood-stricken Brazil
The BRICS group of nations pledged a billion dollars for storm-ravaged southern Brazil Tuesday as slowly receding floodwaters started to reveal the full extent of the devastation. The bank of the BRICS -- a group including Brazil, Russia, India, China and South Africa -- said Tuesday it would free the equivalent of more than a billion dollars to help the affected state.
Amazonian chief at UN to combat traditional knowledge piracy
The leader of the Brazilian Amazon's Huni Kui people remains hopeful that a planned United Nations treaty will advance the fight against biopiracy: the pillaging of traditional knowledge and genetic resources.
Economy
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