Economy
The US Federal Reserve's decision to cut interest rates by half a percentage point gives consumers a much-needed psychological boost ahead of November's presidential election.
A cleaning process leading to fuel hose degradation during refurbishment may have caused a recent Airbus A350 engine fire that triggered dozens of Cathay Pacific flight cancellations this month, the EU aviation regulator said Thursday. In its report, Hong Kong investigators said the Cathay flight crew saw an engine fire warning for the number two engine shortly after liftoff.
European Commission President Ursula von der Leyen on Thursday announced 10 billion euros ($11 billion) in funds for member nations reeling from "heartbreaking" devastation after the floods caused by Storm Boris. "At first sight 10 billion euros are possible to mobilise from the cohesion funds for the countries that are affected.
Nigeria's foreign exchange reserves have seen a net inflow of $2.36 billion every month in the last seven months of this, providing relief to the forex market.
Sales of previously owned US homes fell in August, according to industry data released Thursday, but lower mortgage rates and growing supply were likely to boost the industry. Compared with a year ago, NAR data showed that existing home sales were 4.2 percent down in August.
The US central bank's decision to slash interest rates this week is a "very positive sign" for where the world's biggest economy stands, US Treasury Secretary Janet Yellen said Thursday. Her comments came after Republican presidential nominee Donald Trump charged Wednesday that the Fed's decision was either a response to a "very bad" economy, or it had been "playing politics."
Brazil's Supreme Court on Thursday ordered Elon Musk's X to suspend access to the social network, after service was restored despite a ban, or face a daily fine of over $900,000.
The Bank of England on Thursday kept its key interest rate at 5.0 percent, deciding against consecutive cuts one day after a bumper reduction from the US Federal Reserve.
Emirates Airlines ticket sales are not going as smoothly as planned as the airline prepares to resume flight operations in Nigeria on October 1 after two years
Economy
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