Economy
US Fed likely to hold rates again despite strong economic growth
The Federal Reserve is widely expected to announce Wednesday that it will keep interest rates at a 22-year high in a bid to tackle inflation without harming the buoyant US economy. However, economic growth has remained surprisingly robust, solidifying expectations of a so-called "soft landing," when the Fed smoothly brings down inflation without tanking the economy.
Halloween hits Hollywood strike as actors boycott Barbie costumes
Generic ghosts and vague vampires haunted the Hollywood picket lines this Halloween, as striking actors tried to scare studio bosses by refusing to dress up as any of their famous characters. But despite the dire situation, Grace insisted that the strike should not totally prevent actors from dressing up and having some fun this Halloween.
Guyana seeks UN court protection on 'sinister' Venezuela territorial claim
Guyana has asked the UN's highest court to stop a Venezuelan referendum on whether or not to annex the oil-rich Essequibo region both South American nations lay claim to. The proposed wording for the referendum describes the border as "fraudulently imposed" in 1899 and suggests the granting of Venezuelan citizenship to the people of an annexed Essequibo.
Antitrust trial pits JetBlue against Biden administration
Midsized carrier JetBlue began squaring off in court Tuesday against the US Department of Justice in a closely-watched challenge to the Biden administration's antitrust policy. In a conference call to discuss earnings, JetBlue Chief Executive Robin Hayes Tuesday defended the deal, saying the transaction could close in the first half of 2024 if the airline wins in court.
“We’re Ready:” ABCON sends important message to CBN on Dorm account regulations
Association of Bureaux de Change Operators has asked CBN to take action on domiciliary account holders who might hoarding Foreign Exchange, leading to naira's fall.
Toyota ups North Carolina EV plant investment by $8 bn
Toyota will significantly expand an electric battery plant in North Carolina, ramping up a bet on zero-emission vehicles in the United States, the automaker announced Tuesday. Under the expanded plan, the Toyota plant will have eight additional battery production lines added to the two previously announced.
Biden approves largest offshore wind project in US history
President Joe Biden's administration on Tuesday approved a plan to build the United States' largest ever offshore wind farm, which would power hundreds of thousands of homes with clean energy.
UK govt backs down over plans to shut rail ticket offices
The UK government has scrapped controversial plans to close almost all railway station ticket offices in England, following fierce criticism from disabled campaign groups, unions and passenger watchdogs. As well as groups representing disabled people, the move to retain ticket offices will likely also play well with many core older Conservative voters.
Nigeria’s most indebted state, Lagos secures juicy $1.35 billion deal for infrastructure
The Lagos State government has secured $1.3 billion deal from Afreximbank in collaboration with Access Bank to fund critical infrastructure and food security.
Economy
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