Abubakar Bawa, the chairman of the PDP in Taraba State, has announced his resignation from the party amid more movements in Nigeria's political sphere.
Garri prices have dropped sharply nationwide as abundant cassava harvest boosts supply, easing consumer pressure while Nigeria’s inflation continues to fall.
German pharmaceutical and agricultural chemicals giant Bayer said it had put aside an extra 1.2 billion euros ($1.4 billion) to deal with long-running US legal woes linked to a weedkiller. It takes to 1.7 billion euros the amount set aside to deal with litigation linked to the glyphosate-based Roundup weedkiller, the German group said in a statement late Thursday.
The Nigerian currency, the naira, remained strong in the official window, ending July on a positive note, but dipped slightly relative to June exchange rate.
Nintendo on Friday said quarterly revenue had more than doubled year-on-year thanks to the Switch 2, which became the world's fastest-selling console after its launch in June. The Switch 2 smashed industry records by selling 3.5 million units in its first four days, and Nintendo said Friday it had shifted around 5.8 million consoles in its first month.
The Swiss government said Friday it would negotiate with the United States to try to avoid the 39 percent punitive US tariff rate that would ravage its key pharmaceutical industry.
IAG, the owner of British Airways and Spanish carrier Iberia, said Friday that its net profit jumped 44 percent in the first six months of the year on "strong demand". Group revenue increased eight percent to 15.9 billion euros in the January-June period year-on-year, "reflecting strong demand for our network and brands", it added.
President Donald Trump unveiled new tariffs Thursday on nearly 70 countries -- including a blistering 35 percent on neighbor Canada -- as he seeks to reshape global trade to benefit the US economy. Trump raised duties on nearly 70 economies, from a current 10 percent level imposed in April when he unleashed "reciprocal" tariffs citing unfair trade practices.
South Korea's exports surged to their highest level ever for a July, fuelled by strong overseas demand for semiconductors and automobiles, despite US tariffs weighing on trade, government data showed Friday. Semiconductors, South Korea's main export, recorded more than $14 billion -- the highest-ever for July, increasing by almost a third from the previous year.
Asian markets mostly fell Friday as Donald Trump announced tariffs on dozens of trading partners ahead of a self-imposed deadline, offsetting strong earnings from tech giants. The tariff uncertainty overshadowed earnings from major tech titans this week that saw Apple on Thursday post double-digit quarterly revenue growth that beat expectations.
Tech giants Amazon, Apple, Meta and Microsoft this week eclipsed earnings expectations, cashing in on artificial intelligence (AI) while navigating economic waters roiled by US tariffs. - Meta reported robust second-quarter financial results Wednesday, with revenue jumping 22 percent year-over-year as the social media giant continues investing heavily in artificial intelligence.
Economy
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