Scott Bessent Faces Senate Scrutiny Over Taxes Trade and Deficits
Scott Bessent, President-elect Donald Trump’s nominee for Treasury Secretary, is set to face tough questions from the Senate Finance Committee…
Category: International
Apple Seeks New Credit Card Partner as Goldman Backs Out
Apple is in talks with Barclays and Synchrony Financial to replace Goldman Sachs as its credit card partner, sources say.…
ECB Looks to Services Prices to Meet Inflation Target Says Chief Economist
Eurozone inflation is expected to decline in 2025 due to slower wage growth and reduced cost pressures, according to European…
UK Business Confidence Falls to Two-Year Low Amid Tax Concerns
British business morale plunged to its lowest point in two years during late 2024, driven by tax concerns following the…
TikTok Prepares for Potential U.S. Shutdown on Sunday
TikTok is gearing up to shut off access to its app for U.S. users on Sunday, pending the Supreme Court’s…
Japanese Investors Sell Foreign Assets for Third Consecutive Month in December
Japanese investors continued to offload foreign assets for the third month in a row in December, responding to rising U.S.…
Apple and Samsung Face Decline in Smartphone Shipments Amid Rising Chinese Competition
Smartphone shipments for Apple and Samsung both declined in the fourth quarter of 2024, according to preliminary data from the…
US lawmakers urge Biden to extend TikTok Jan. 19 ban deadline
Two Democratic lawmakers have urged Congress and President Joe Biden to extend the Jan. 19 deadline for ByteDance, the Chinese…
India’s HCLTech tumbles nearly 10% after Q3 revenue miss
HCLTech, India’s third-largest software services provider, saw its shares tumble nearly 10% on January 14, marking its worst session since…
EU Reevaluates Big Tech Investigations Under Digital Markets Act
The European Commission is reassessing ongoing investigations into Apple, Google, and Meta under the Digital Markets Act (DMA), a landmark…
US Tightens AI Chip Export Controls Amid Backlash from Tech Industry
The United States is introducing stricter regulations on the export of advanced AI chips and related technology to numerous countries,…
Apple Urges Shareholders to Reject Call for DEI Programme Rollback
Apple’s board has urged investors to reject a proposal aimed at dismantling its Diversity, Equity, and Inclusion (DEI) programs. The…
Sub-Saharan Africa Lost $1.56bn To Internet Shutdown In 2024 – Report
Sub-Saharan African countries collectively lost $1.56 billion due to government-induced internet shutdowns in 2024, accounting for 19% of the $7.69…
Investors Pick Kenya Over Nigeria As Startup Funding Falls To $2.2bn
In 2024, Kenya emerged as the top destination for startup funding in Africa, surpassing Nigeria for the second consecutive year.…
European Stocks Edge Higher as Mining Gains Offset Retail Losses
European stocks regained stability on Thursday, as the STOXX 600 index rose by 0.1%, recovering from early declines. Mining stocks…
Bonds under pressure as stocks tumble amid UK gilt worries and US policy uncertainty
Global financial markets faced turbulence as bond yields soared and stocks fell, driven by concerns over rising inflation, reduced chances…
Dollar Stable Amid Rising Yields and Hawkish Fed Minutes
The US dollar held steady on Thursday, supported by climbing Treasury yields and the Federal Reserve’s hawkish stance, which suggests…
European Stocks Dip as UK Retailers and Economic Data Take Center Stage
European stock markets edged lower on Thursday, weighed down by mixed economic data and corporate earnings. Germany’s DAX and France’s…
Asia FX weakens as hawkish Fed boosts dollar; yen rises on BOJ rate hike bets
Asian currencies faced pressure on Thursday as a stronger dollar gained momentum following hawkish Federal Reserve signals of slower rate…
Google Expands Efforts to Develop AI Models Simulating the Physical World
Google is embarking on a bold initiative to create generative AI models capable of simulating the physical world, signaling a…
French Inflation Slows to 1.8% in December Falling Below Forecasts
According to preliminary data from INSEE, French inflation rose to 1.8% year-on-year in December, falling short of the anticipated 1.9%.…
Dollar Declines as Markets Weigh Trump’s Tariff Proposals and U.S. Economic Data
The U.S. dollar edged close to a one-week low on January 7 as investors assessed the potential impact of President-elect…
Futures Flat Ahead of Economic Data and Trump Administration Plans
U.S. stock index futures were mostly unchanged as markets awaited important economic data releases and insights into the incoming Trump…
US Federal Reserve Regulator Resigns Citing Risk of Dispute
Michael Barr, the vice chair for supervision at the US Federal Reserve, announced his early resignation, citing the “risk of…
Microsoft To Invest $3 Billion In India
Microsoft CEO Satya Nadella announced a $3 billion investment aimed at enhancing the company’s artificial intelligence (AI) and Azure cloud…
African Tech Startups Raise $2.2B Despite Challenges
African tech startups, particularly in Nigeria, Kenya, and South Africa, secured $2.2 billion in funding in 2024 through equity, debt,…
Foreign Investors’ Participation in Nigerian Stock Market Declines
Foreign investors’ participation in the Nigerian stock market has waned, with outflows surpassing inflows by 12.2% year-to-date as of November…
Germany Launches Online Visa Application Platform for Nigerians and Others
Germany has unveiled a new online visa portal designed to streamline the application process for Nigerians and others seeking to…
Microsoft plans to invest $80b in data centres
Microsoft has announced plans to allocate approximately $80 billion in fiscal 2025 to expand its data center infrastructure, primarily to…
Stocks Edge Higher Amid Political and Economic Uncertainty
Global stock markets showed mixed signals on Monday as investors faced a week filled with critical economic data and lingering…