Economy
Tech giants go nuclear in AI arms race
The artificial intelligence arms race has gone nuclear. One strategy involves extending the life of aging nuclear plants.
CBN speaks on verifying $2.4 billion foreign exchange claims by manufacturers
A re-validation process has been initiated by the CBN to investigate the reasons behind the complaints from manufacturers and importers over $2.4bn in forex claims.
Onboard wifi is latest frontline in airline competition
Free onboard wifi has become the latest battleground between the world's leading airlines as the once expensive and unreliable service finally delivers quality comparable to being at home.
Instagram moves to face rising tide of sextortion scams
Meta, the parent company of Facebook and Instagram, on Thursday announced new measures to fight sextortion, a form of online blackmail where criminals coerce victims, often teens, into sending sexually explicit images of themselves.
US retail sales pick up pace in September
Retail sales in the United States accelerated in September, according to government data released Thursday, a positive sign for consumption as the election approaches. Overall sales rose 0.4 percent to $714.4 billion between August and September, according to Commerce Department data, beating analysts' expectations.
Couche-Tard executives in Japan to push 7-Eleven deal
Executives from Canada's Alimentation Couche-Tard are in Japan in a bid to overcome resistance to their $47-billion takeover of 7-Eleven's parent but are being given the cold shoulder, according to interviews published Thursday.
Taiwan's TSMC posts sharp rise in third quarter net profit
Taiwanese chip giant TSMC announced a bigger-than-expected increase in net profit for the third quarter on Thursday and raised its growth forecasts for the year on "extremely robust" demand for AI technology. TSMC said it expected full-year revenue to increase by nearly 30 percent.
Dealers quote dollar at high rates in official, parallel markets as naira crashes
The Nigerian currency, the naira, depreciated in the official and parallel markets on Wednesday, October 16, 2024, to trade at N1,700 and N1,659, respectively.
Trial into Brazil mining disaster to open in London
A long-awaited trial into whether Australian miner BHP is liable for one of Brazil's worst environmental disasters opens in London on Monday, potentially triggering compensation totalling billions of dollars. Vale has offered to share any compensation BHP ends up paying as a result of the London trial.
Economy
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