President Bola Tinubu has been told to remove Nyesom Wike as FCT Minister in a fresh development amid move by the Rivers assembly to sack Governor Siminalayi Fubara.
The Federal Government has launched YouthCred, a new scheme allowing Nigerian youths aged 18–39 to access loans up to N5 million with flexible repayment terms.
Taiwanese chipmaking titan TSMC reported Thursday a surge in net profit for the first quarter and forecast robust demand for artificial intelligence technology, despite the spectre of US tariffs on the critical sector.
French luxury group Hermes said Thursday it would hike its prices in the United States to offset the impact of 10-percent import tariffs imposed by President Donald Trump. Trump imposed a 10 percent tariff on imports from around the world this month, but he delayed higher duties on dozens of other countries, including a 20 percent levy for goods from the European Union. kap/jbo/lth/ach
Uncertainty over Donald Trump's tariff blitz mounted Thursday after the Fed chief warned of rising prices and "volatility" while "progress" flagged by the US president in talks with Japan lifted markets slightly. He also noted the "volatility" in the markets at a "time of high uncertainty."
Tokyo led stocks higher Thursday as optimism over Japan-US trade talks offset Federal Reserve boss Jerome Powell's warning that Donald Trump's tariffs could force officials to choose between fighting inflation or unemployment.
European Central Bank policymakers look increasingly likely to cut interest rates again on Thursday, with US President Donald Trump's stop-start tariff announcements sowing concern in the eurozone. The central bank has made six quarter-point cuts since June last year as inflation has fallen, bringing its benchmark deposit rate down to 2.5 percent from four percent.
Chip developer Advanced Micro Devices (AMD) on Wednesday said it expects new US licensing requirements for semiconductors exported to China to cost it as much as $800 million. AMD said in the filing that it "expects to apply for (export) licenses but there is no assurance that licenses will be granted."
Meta chief executive Mark Zuckerberg on Wednesday denied in court that his company bought rival services Instagram and WhatsApp to neutralize them, as his testimony in a landmark antitrust case came to a close.
Tariffs are likely to push up prices and could put the US Federal Reserve in the unenviable position of having to choose between tackling inflation and unemployment, the bank's chair said Wednesday. Most economists have warned that tariffs will push up prices -- at least temporarily -- while acting as a drag on growth.
US President Donald Trump touted tariff negotiations with Japan on Wednesday while China angrily accused Washington of "blackmail" in a trade war that the WTO warns will have "severe" economic consequences for the global economy. The multiple negotiations the Trump administration says are underway are running parallel to a full trade war against top US economic rival China.
Economy
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