Economy
United announces $1.5 bn share buyback as earnings top estimates
United Airlines announced a $1.5 billion share buyback on Tuesday as its earnings for the third quarter topped analyst estimates. Alongside its earnings, United also announced a new $1.5 billion share repurchase program -- its first since the onset of the Covid-19 pandemic.
US holiday spending to approach $1 tn: Retail Federation
US consumers are expected to spend close to $1 trillion during the winter holiday season, a slight uptick from the year prior, the National Retail Federation (NRF) said Tuesday.
Turkish govt delays tax plan to fund defence industry
The Turkish government on Tuesday postponed until 2025 a parliamentary debate on a proposed tax on credit cards, which it sought to fund the arms industry as conflict rages in its neighbourhood. The bill stipulated that people with a credit card limit of at least 100,000 liras (nearly $3,000) would have to pay an annual 750 lira ($22) in tax from January to bolster the defence industry.
Trump says 'obnoxious' tariffs will bring factories to US
US Republican candidate Donald Trump on Tuesday said that companies will drop plans to build factories overseas when faced with the threat of high tariffs on shipping goods to the United States. "The higher the tariff, the more likely it is that the company will come into the United States," the former president Trump told an audience at the Economic Club of Chicago.
Russia, China step up cybercriminal recruitment, warns Microsoft
Russia, China and North Korea are becoming more aggressive and sophisticated in their recruitment of cybercriminals to steal money, gain intelligence and sway elections, Microsoft said in a threat report released Tuesday. Observations during the past year affirm a "convergence" of governments and cybercriminals, according to the report, which cited activity by China, Russia, Iran, and North Korea.
Boeing to raise up to $25 bn as strike weighs on finances
US aircraft manufacturer Boeing unveiled measures meant to replenish its cash flow Tuesday, including an intention to raise up to $25 billion, as it navigates recurrent production problems and a major US strike. The direct financial impact of the first month of the strike cost Boeing more than $3 billion, according to Anderson Economic Group.
“No more 32.15%:” Nigeria’s inflation rate accelerates to new high amid hike in petrol prices
Nigeria's headline inflation has surged to 32.75 per cent in September 2024 from 32.15 recorded in August 2024 following the increase in petrol prices.
Expert predicts new exchange rates as naira crashes in black market, rises 5.38% in official window
The naira gained about N89 in the official market on Monday, October 14, 2024, to trade N1,551 UP from the N1,641 it sold the previous day, but fell in black market.
Boeing announces intention to raise up to $25 bn
US aircraft manufacturer Boeing on Tuesday unveiled measures meant to replenish its cash flow, including its intention to raise up to $25 billion, as it navigates recurrent production problems and a major US strike. The direct financial impact of the first month of the strike cost Boeing more than $3 billion, according to Anderson Economic Group.
Economy
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