Stocks started limply Wednesday as investors struggled to match Wall Street's rally, with data showing Chinese factory activity contracted this month at its fastest pace for nearly two years as Donald Trump's trade war kicked in.
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Naira gets new position as report shows Africa’s top 10 weakest currencies in 2024
Recent reports have ranked Africa's weakest currency in 2024 compared to the US dollar, with the naira ranking among the continent's worst-performing currencies.
Ukraine rejects as 'nonsense' alleged role in Nord Stream blasts
Ukraine on Thursday rejected as "absolute nonsense" suggestions it was involved in the 2022 sabotage of the Nord Stream pipelines, which transported Russian gas to Europe via the Baltic Sea. "Ukraine's involvement in the Nord Stream explosions is absolute nonsense.
Shares soar in mpox vaccine maker Bavarian Nordic
Shares in Danish drugmaker Bavarian Nordic, which manufactures a vaccine targeting mpox, soared Thursday after the World Health Organization (WHO) declared an mpox surge in Africa a global public health emergency. Bavarian Nordic, whose vaccine has been licensed for preventing mpox since 2019, saw its shares rise more than eight percent on the Copenhagen Stock Exchange by midday on Thursday.
Walmart lifts earnings outlook after revenues rise
The US retail giant Walmart reported a rise in revenues on Thursday on increased e-commerce and advertising sales, and raised its outlook for the year. The results beat analyst estimates, causing it to raise its outlook for the year.
Chinese tech giant Alibaba's quarterly profit shrinks 29 percent
Chinese e-commerce giant Alibaba reported a 29 percent fall in quarterly profit on Thursday as it battles sluggish consumption during an economic slowdown. Alibaba runs some of China's most popular e-commerce apps and its performance is widely considered an indicator of broader economic trends.
Nigeria’s presidential jets seized in two countries over Chinese firm debt - reports
Three Nigerian presidential jets have been seized in France and Switzerland due to a long-standing business dispute with Chinese company Zhongshan.
UK growth slows slightly in second quarter
Britain's economy grew 0.6 percent in the April-June period, a slight slowdown compared with the first three months of the year, official data showed on Thursday. Separate data this week showed Britain's unemployment rate dropping to 4.2 percent and wage growth down to the lowest level in nearly two years.
North Korea tour operators hopeful ahead of country's reopening
A Beijing-based North Korea tour operator expressed hopes of fresh business on Thursday following an unexpected announcement that the country would reopen to foreign tourists this winter. KTG Tours, also based in China, said on its Facebook page Wednesday that it had been told "tourists will be able to go to Samjiyon (Mt. Paektu area) this winter".
China's underwhelming data dampens hope of economic recovery
Chinese industrial production growth slowed in July while unemployment rose, official data showed Thursday, highlighting an uneven recovery in the world's second-largest economy despite recent government measures to try to stimulate expansion.
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