It was a jubilation night as reports emerged that the 24 schoolgirls who were abducted at the Government Girls Secondary School in Maga, Kebbi state, were rescued.
The Tinubu administration has introduced several loan and grant schemes to help Nigerians cope with economic hardship, unemployment, and rising poverty levels.
British pharmaceutical group GlaxoSmithKline said Wednesday that its annual performance should be better than expected, despite US tariffs, after sales of its cancer drugs jumped in the second quarter. Group sales increased one percent to £8 billion, helped by a 36 percent increase in cancer treatments that offset falls for other drugs, including for influenza.
French luxury group Hermes confirmed Wednesday its outlook for full-year sales growth as it turned rising revenue for all parts of the world in the first half despite global economic uncertainty. "In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates," it said.
Bank giant HSBC said Wednesday that group profits fell in the first half on higher costs but noted that it was "well positioned" to deal with the effects of US tariffs. - Missed expectations - Elhedery said HSBC is "well positioned to manage the changes and uncertainties prevalent within the global environment in which we operate, including in relation to tariffs".
The eurozone economy unexpectedly expanded in the second quarter of 2025, official data showed Wednesday, despite international trade tensions clouding the global outlook.
Irish no-frills airline Ryanair said on Wednesday it was dropping three French airports over a "harmful" tax hike on air tickets and urged Paris to change course. Ryanair urged the French government to abolish the "harmful" air tax in order to make French aviation more competitive.
German sportswear giant Adidas said Wednesday it took a hit from US tariffs in the second quarter but did not indicate whether it would pass on rising costs to consumers. The company did not indicate whether it would pass on these costs to consumers and expressed concern that rising prices overall could dampen demand.
Italy said Wednesday it opened a probe into social media giant Meta for potentially breaking EU competition laws by installing its AI tool into WhatsApp.
Premium German carmaker Mercedes-Benz said Wednesday its second-quarter profit plunged nearly 70 percent due to US tariffs and weak sales in China, prompting it to lower its full-year revenue outlook.
Indian exporters were bracing Wednesday for higher US tariffs to kick in as prospects dim for an interim trade deal between New Delhi and Washington before the August 1 deadline. While lower than the 26 percent reciprocal tariffs Washington previously announced in April, that would would still represent a leap from the current 10 percent baseline tariff on Indian shipments to the United States.
Economy
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