It was a celebration day for workers and pensioners in Rivers when Siminalayi Fubara become the second governor to announce N100,000 Christmas bonus.
The Nigerian government has announced that individuals earning N100,000 and below are exempted from paying the newly introduced Personal Income Tax (PIT).
Oracle tech tycoon Larry Ellison is offering a $40.4 billion personal guarantee to back Paramount's hostile bid for Warner Bros. But Warner Bros last week described the Paramount offer as risky, saying it was backed by "an unknown and opaque revocable trust" and involved "no Ellison family commitment of any kind."
Brussels hit back Monday at China slapping duties of up to 42.7 percent on some dairy products from the European Union, calling the move "unjustified". The "duty deposits", which range from 21.9 percent to 42.7 percent, come into effect on Tuesday.
Telefonica will cut up to 5,500 jobs in Spain under a voluntary departure plan agreed with trade unions last week, the debt-laden telecoms firm said in a statement on Monday. "An agreement was reached with the trade unions... concerning the implementation of a voluntary departure plan for approximately 5,500 workers," Telefonica said in a statement released via the stock market regulator.
Italy's competition authority said Monday it had fined the US tech giant Apple 98 million euros ($115 million) for allegedly abusing its dominant position in the mobile app market. French antitrust authorities earlier this year handed Apple a 150-million euro fine over its app tracking privacy feature.
The European Commission said Monday it had opened an investigation to assess whether the Czech government's support plan for the construction and operation of two nuclear units is in line with EU state aid rules.
The new Nigerian tax law, effective 2026, ensures fairness, protects low-income earners, clarifies exemptions, and requires workers to pay only on earned income.
The Federal Inland Revenue Service (FIRS) has revealed that it hauled in record N22.59 trillion in revenue in 2025 amid controversies over new tax laws.
A Swiss court has decided to hear a landmark climate case pitting residents of a tiny Indonesian island being swallowed by rising sea levels against cement giant Holcim, NGOs helping the islanders said Monday. Holcim has not owned any cement plants in Indonesia since 2019, but the islanders argue that the company shares the blame for rising temperatures and sea levels.
Asian markets rallied Monday and gold hit a record high as the latest round of US data boosted hopes for more interest rate cuts, while worries over AI spending also subsided. Gold, which benefits from lower US interest rates, hit a fresh record above $4,388, while silver also struck a new peak.
Economy
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