The viral claim that Prime Minister Benjamin Netanyahu was missing from Israel for five days was proven misleading, as official updates placed him in Tel Aviv.
Nigeria's government launches FarmerMoni, offering interest-free loans up to N300,000 to 22,000 farmers, boosting productivity and promoting rural economic stability
British pharmaceutical giant AstraZeneca announced Tuesday that it has begun moving some of its European production to the United States, ahead of President Donald Trump's possible tariffs on the sector. Other pharmaceutical companies have also announced plans to increase investments in the United States.
Pfizer reported a dip in profits Tuesday, driven partly by lower sales of Covid-19 therapeutic drug Paxlovid, as it maintained a 2025 forecast that does not include potential tariff effects. Sales of Paxlovid slid 75 percent amid lower Covid-19 infections and reduced government purchases of the medication.
The federal government has waived import duties of almost N100 billion on food items like rice and maize. Certain food prices are expected to crash as a result.
Music streaming giant Spotify on Tuesday reported a 12-percent rise in paying subscribers in the first quarter to 268 million, along with a record operating profit. The number of paying subscribers, which account for most of Spotify's revenue, grew to 268 million, slightly higher than its guidance of 265 millions.
General Motors reported a dip in first-quarter profits but topped estimates Tuesday as the automaker said it was reexamining its 2025 outlook in light of uncertainty over US tariffs. Later Monday, the Wall Street Journal reported that Trump agreed to soften the impact of tariffs on automakers.
Nigeria's revenue can no longer cover its debt servicing, raising concerns about how the government will finance recurrent and capital projects in the 2025 budget.
Britain's BP said on Tuesday net profit plunged in the first quarter as the struggling energy giant undergoes a major overhaul back to its fossil fuel business. Under pressure from investors, BP is in the midst of a major reset that saw it shelve its once industry-leading carbon-reduction targets to focus on fossil fuel output deemed more profitable.
In line with the move to digitalise revenue collection in Nigeria, the Federal Inland Revenue Service (FIRS) is enforcing the use of the TaxPro Max platform.
German sportswear giant Adidas on Tuesday warned that US President Donald Trump's tariffs will increase prices for its products in the United States, and the hardline trade policies could dent its ongoing recovery.
Economy
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