Economy
EU questions shopping app Temu over illegal products risk
The EU on Friday told Chinese-founded e-commerce platform Temu to hand over more information as it suspects the site is failing to do enough to stop the sale of illegal products. The European Commission, the EU's powerful digital watchdog, said it demanded Temu explain what measures have been taken to stop traders appearing and reappearing on the platform "selling illegal products".
CBN reacts as customers of GTB, Zenith, others raise alarm over consistent network failure
Consumers concerned that the frequent network failure of banks was becoming more regular and frightening spoke with the News Agency in Abuja, Nigeria's capital.
Han Kang's books sell out in South Korea after Nobel win
Major South Korean bookstores sold out of author Han Kang's books Friday, as sales skyrocketed and the share price of local publishers soared following her historic Nobel Prize win. It was like I won the award really," she told AFP. "A South Korean winning the Nobel literature prize is just crazy." hs-cdl/ceb/dhw
UK economy rebounds in August in boost to new govt
Britain's economy bounced back in August, official data showed Friday, boosting the new Labour government ahead of its maiden budget later in October. - 'Mild slowdown' - Revised official growth data revealed last month that Britain's economy grew less than initially estimated in the second quarter.
Investors, analysts eye bigger China stimulus at Saturday briefing
Investors and analysts expect China to unveil billions of dollars in new stimulus for its troubled economy Saturday as officials battle multiple headwinds including a prolonged housing crisis and sluggish consumption.
CNG: FG opens portal for Nigerians to convert cars and pay later for cheaper N230 fuel
The Federal Government has launched a portal allowing Nigerians to convert their vehicles to Compressed Natural Gas with flexible payment options.
EU chief says China must 'adapt its behaviour' to solve trade row
China must "adapt its behaviour" to solve an escalating tariff row with Europe, EU chief Charles Michel said Friday, warning of the dangers of the dispute escalating into a full-blown trade war. "We count on China to adapt its behaviour and to understand that we have to rebalance the economic relationships for more fairness, for fair competition, for a more level playing field."
Asian markets mixed after Wall St drop, Shanghai dips before briefing
Most Asian markets were mixed Friday as investors digested disappointing US inflation data that further dampened expectations for another bumper interest rate cut next month. Tokyo ended the morning on the front foot thanks to a weaker yen as investors scale back expectations for US rate cuts, while Singapore, Seoul, Wellington, Taipei and Jakarta also edged up.
Automaker Stellantis says CEO will retire in 2026
The struggling auto giant Stellantis said late Thursday that its CEO Carlos Tavares will retire in 2026 when his contract runs out and it is now looking for a successor. At the same time, he said he might retire in January 2026.
Economy
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