Economy
California startup to 'sponge' CO2 from the atmosphere
Scrubbing carbon dioxide from the air is imperative if humanity is to limit global warming, experts say, and a California startup says it can do just that, using limestone as a carbon-sucking sponge.
FG to allow Opay, PalmPay, PiggyVest, other fintech participate in Forex trading
The Nigerian government is considering opening the official Forex market to financial technology companies to ease the Forex liquidity in the system.
HSBC says pre-tax profit more than doubled in third quarter
Banking giant HSBC said on Monday that pre-tax profit in the third quarter more than doubled to $7.7 billion, reflecting the "positive impact of a higher interest rate environment". The London-listed lender reported third-quarter revenue grew 40 percent to $16.2 billion as higher rates "supported growth in net interest income in all of our global businesses, and non-interest income increased".
Heavy industry turns to carbon capture to clean up its act
For decades heavy industry around Dunkirk in northern France has belched out millions of tonnes of climate-heating gases. The CO2 will then be separated off and piped to a terminal in Dunkirk that will hold 1.5 million tonnes of the gas when it opens in 2028.
Crude slips on easing worries of region-wide Middle East war
Oil prices fell Monday as Israel stepped up ground attacks on Hamas targets in Gaza but held back from a full-on incursion, fanning hopes a wider conflict can be avoided. Thousands of civilians have been killed on both sides since the conflict was triggered by an unprecedented attack on Israel by Hamas on 7 October.
Free trade deal between EU and Australia collapses
A free trade deal between the European Union and Australia has unravelled despite early optimism, with Canberra saying Monday it could take years until negotiations resume. A European Commission spokesperson said it had been optimistic of striking a deal in Osaka, but that Australia had "re-tabled agricultural demands that did not reflect recent negotiations".
Drought and shrinking herds push US beef prices through the roof
A prolonged drought is shrinking livestock herds and driving beef prices to record highs in the US, even as consumption is growing stronger. Incentivized by record prices, many breeders are parting with their heifers earlier, which prevents the herd from growing, according to Baldwin.
US Fed likely to pause again with rates at 22-year high
The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks to tackle inflation without damaging the resilient US economy.
"The war is far from over": Buhari gives details of how Nigeria won $11bn P&ID case in UK court
Former President Muhammadu Buhari says if Nigeria had lost its arbitration dispute with P&ID, it would have cost the country close to $15 billion.
Economy
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