Ahead of the 2027 general elections in Africa's largest democracy, Nigeria, Peter Obi has been predicted to work for President Bola Ahmed Tinubu.
The Central Bank of Nigeria (CBN) has made the audacious move to stabilise the naira by selling $150 million to banks in the foreign exchange market
South Korea recorded its highest ever semiconductor exports in September, official data showed Wednesday, despite growing pressure from US tariffs and other restrictions on the crucial sector. Seoul logged more than $16.6 billion in exports of semiconductors last month, up by more than a fifth from September 2024, according to data from the country's industry ministry.
Nike reported a surprise increase in quarterly sales Tuesday, pointing to progress on a turnaround as it forecast a bigger cost hit from US tariffs. But Friend lifted the company's estimate of the total cost from US tariffs under President Donald Trump's administration to an annual hit of $1.5 billion from the prior $1 billion.
Louis Vuitton showcased a collection of flouncy skirts and sculptural ruffles in front of a star-packed audience while Stella McCartney had war and peace on her mind for her show on day two of Paris Fashion Week on Tuesday. - Anderson debut - A flurry of new appointments at major labels have lent this Paris Fashion Week momentous significance.
Amazon on Tuesday unveiled the latest generation of connected products, featuring enhanced artificial intelligence capabilities designed to make interactions with AI more frequent and natural. Amazon believes in "ambient" AI, in Panay's words, which "lives naturally in the products themselves."
The Trump administration on Tuesday announced a deal granting Pfizer a three-year reprieve on planned tariffs as the pharmaceutical giant vowed to voluntarily lower the prices of unspecified drugs for US purchase. Asked Tuesday about the timeline for fresh tariffs, Commerce Secretary Howard Lutnick said the Trump administration plans to allow negotiations with companies to play out. bur-mdo/mlm
The board of Spanish bank Sabadell on Tuesday rejected larger national rival BBVA's improved hostile takeover bid as 10 days remain for shareholders to make a final decision. BBVA raised its takeover offer by 10 percent last week, but Sabadell said its board had met on Tuesday and, "taking into account all the terms and characteristics of the offer, rejects the offer".
About 10 African countries, including Nigeria, have labeled some of the countries facing debt exposure to the International Monetary Fund (IMF) as of July 19, 2024.
The naira has maintained its strong rally against the US dollar in the official and black markets, rising to N1,476 per dollar in the official forex window.
European Central Bank chief Christine Lagarde said Tuesday US tariffs had not hit the eurozone as badly as feared, but warned new risks could lie ahead in an uncertain world. After bringing rates down from record highs, the central bank has held them steady at its past two meetings, and most analysts do not expect a change soon. sr/jsk/rmb
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