Economy
US Fed governor says a 'soft landing' is possible
The US Federal Reserve may be on track to bring down inflation while avoiding a damaging recession, a senior policymaker said Thursday. "I continue to expect that we will need to increase the federal funds rate further to bring inflation down to our two percent target in a timely way," Bowman told a conference in Ohio earlier this month.
US auto worker strike hits October industrial production
US industrial production declined more than expected in October, with the auto workers strike exerting downward pressure on a range of market groups, the Federal Reserve said Thursday. Among the major market groups, output was mixed, with the impact of strike action "exerting downward pressure on a number of categories," including the index for consumer durables, which fell 5.8 percent.
Walmart narrowly lifts forecast as inflation stays consumer concern
Walmart narrowly lifted its full-year forecast on Thursday following solid quarterly results as it continued to navigate a market challenged by elevated pricing that has depressed demand for some goods. Results during the quarter were also dented somewhat by elevated spending on store remodels.
Spectre of war paralyses Lebanon's hospitality sector
Bartender Richard Alam has poured hardly any drinks at his pub in Lebanon's seaside city of Byblos, where once-busy streets have emptied of customers scared by border tensions during the Israel-Hamas war. Since then, Lebanon's southern border has seen deadly escalating skirmishes, mainly between Israel and Hamas ally Hezbollah.
“N25k cash transfer:” World Bank disburses $299.9m to FG as palliative loan for Nigerian households
The World Bank said it had disbursed about $299.99m to the Nigerian government for its poverty alleviation programme under the ministry of Humanitarian affairs
EU agrees data-sharing scheme for Airbnb-style rentals
An EU-wide data-sharing scheme for Airbnb and similar rentals to help crack down on illegal short-term lets is a step closer after negotiators struck agreement Thursday. Airbnb welcomed the EU agreement, saying setting "clear rules" across the European Union to replace the current patchwork of national laws on the sector was "a watershed moment for Airbnb and our industry".
It is working: CBN speaks on strategy to tackle soaring 18-year high inflation rate, expert reacts
The Central Bank of Nigeria has expressed confidence on its monetary policy stance of tightening rates to fight Nigeria's rising inflation which is on 18-year high.
Rich nations 'likely' met $100 bn climate finance goal: OECD
Wealthy nations likely met their goal of providing $100 billion in annual climate finance to poorer nations last year -- two years later than promised and only a fraction of the "extensive needs", the OECD said Thursday. Adaptation is a key priority for developing countries and wealthy governments have promised to double adaptation finance by 2025, to $40 billion a year.
Oil, gas giants could pay climate damage and still profit: research
Major oil and gas companies such as Aramco, ExxonMobil and Shell could have paid for their share of the damage caused by climate change and still earned trillions of dollars in profit, researchers said on Thursday. The estimated damage caused by carbon emissions from the 25 companies cost $20 trillion from 1985 to 2018 -- but during that time they earned $30 trillion, the report said.
Economy
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