Wole Soyinka urges caution on foreign aid in Nigeria, visits Benue IDP camps, and backs Alia as he clarifies comments on killings and ongoing insecurity.
Garri prices have dropped sharply nationwide as abundant cassava harvest boosts supply, easing consumer pressure while Nigeria’s inflation continues to fall.
Meta has agreed to pay President Donald Trump $25 million to settle a 2021 lawsuit he filed claiming he was wrongfully censored by Facebook and Instagram after the US Capitol riot, the company said Wednesday. In December, ABC News agreed to pay a $15 million settlement payment to resolve a defamation lawsuit brought by Trump stemming from on-air comments about him made by a top anchor.
Brazil's central bank on Wednesday hiked its key interest rate to 13.25 percent in more bad news for leftist President Luiz Inacio Lula da Silva's government, which is struggling to curb high inflation. The interest rate decision was the first taken under the leadership of new central bank chief Gabriel Galipolo, appointed by Lula, who has fiercely opposed higher interest rates.
Social media giant Meta on Wednesday reported surging profits and revenue for 2024, announcing ambitious plans to expand its artificial intelligence infrastructure in the year ahead. The company expanded its workforce by 10 percent to 74,067 employees in 2024, with plans for further growth in technical roles focused on AI development and infrastructure.
Tesla reported lower than expected profits Wednesday, citing declining vehicle prices as a factor as it projected a return to volume growth in 2025. "With the advancements in vehicle autonomy and the introduction of new products, we expect the vehicle business to return to growth in 2025," Tesla said.
Microsoft on Wednesday reported profits of $24.1 billion in the recently ended quarter, but shares slid on worries over its vital cloud computing business. Microsoft revenue grew to $69.6 billion and the amount of money taken in by its "intelligence cloud" unit climbed to $25.5 billion but the market had expected more.
Donald Trump's commerce secretary nominee said Wednesday that he favors "across-the-board" tariffs and a country-based approach rather than targeting products, signaling a hawkish China stance as he addressed US lawmakers on the president's punishing trade agenda.
The German government on Wednesday slashed its growth forecasts for 2025 as industry leaders sent dire warnings over the country's economic health and staged nationwide protests to urge reforms. The lack of clarity over the shape of the next government and the country's economic policy were discouraging investments and "delaying the recovery", he said.
Central Bank Governor Olayemi Cardoso has said that the year-long fx verification uncovered high level of unethical practices, and warned Banks about consequences
The Central Bank of Nigeria (CBN) has adjusted the Nigeria Customs exchange rates for cargo clearance at Nigeria's sea and airports as the naira gains.
Economy
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