Economy
Lula rallies G20 countries against world hunger ahead of meeting
Brazil's President Luiz Inacio Lula da Silva on Wednesday will launch a new initiative against world hunger ahead of an upcoming G20 meeting in Rio de Janeiro. The initiative is one of Lula's major priorities ahead of the G20 summit.
Asian markets track Wall St losses after mixed tech earnings
Asian markets fell on Wednesday following a mixed batch of US earnings that did little to boost enthusiasm as investors look for the tech sector to continue filing blockbuster profits after pumping billions into artificial intelligence.
Renewables overproduction turns electricity prices negative
With the proliferation of solar panels and wind turbines an unusual phenomenon is becoming more and more frequent: wholesale electricity prices turn negative. Prices turn negative on the spot wholesale electricity market when production is strong while demand is weak.
CBN finally explains what to do with dormant accounts as Nigerian banks, others lose N18bn to fraud
Concerns over the vulnerability of dormant bank accounts to fraudulent activity have been voiced by Olayemi Cardoso, the governor of the Central Bank of Nigeria.
Tesla reports profit drop on price cuts, lower vehicle sales
Tesla reported a hefty drop in second-quarter profits Tuesday due to the effect of price cuts while spending aggressively on artificial intelligence and other technology. Tesla vowed to press on with technological pushes in artificial intelligence and autonomous driving.
CBN increases interest rate to borrow money as Access, Zenith, UBA, others get ready to comply
The Central Bank of Nigeria's Monetary Policy Committee (MPC) has adjusted Nigeria's interest rates to 26.75% from 26.25% to control the country rising inflation.
Coca-Cola lifts full-year forecast after profits top estimates
Coca-Cola raised some of its full-year financial projections Tuesday as it reported better-than-expected profits, pointing to a lift from premium products that countered weakness in some markets. The soda giant reported profits of $2.4 billion in the second quarter, down five percent from the year-ago period.
French luxury giant LVMH half-year net profit drops 14%
The world's largest luxury group, LVMH, said Tuesday its half-year net profit slid 14 percent amid an uncertain geopolitical and economic environment. "The results for the first half of the year reflect LVMH's remarkable resilience... and the responsiveness of its teams in a climate of economic and geopolitical uncertainty," said chief executive Bernard Arnault.
Strong US sales boost GM results as it slows some EV plans
General Motors reported higher profits Tuesday behind another round of strong North American auto sales, with executives vowing a flexible approach to electric vehicle (EV) investment while demand growth ebbs. North American auto sales rose compared with the year-ago period, with the company enjoying still-strong vehicle pricing that has lasted longer than analysts expected.
Economy
Load more