Business World Siemens profit beats market view on software but outlook remains guarded August 8, 2024 Ekemini Uba Siemens reported better-than-expected quarterly earnings on Thursday, driven by strong demand for electricity infrastructure and production software. The company achieved an 11% increase in adjusted operating profit to 3.0 billion…
Trade World US tops China as Germany’s biggest trading partner August 8, 2024 Ekemini Uba In the first half of 2024, the United States became Germany’s largest trading partner, surpassing China. Trade between Germany and the U.S. reached around 127 billion euros, while trade with…
Business investment World Investors Rethink Japanese Multinationals Amid Yen Strength August 7, 2024 Ekemini Uba The strengthening yen is prompting investors to reassess the prospects of Japanese multinational companies, which had previously benefited from a weaker currency. Sony, for example, is facing challenges as the…
Business World Lyft forecasts soft quarter after delivering net profit in Q2 August 7, 2024 Ekemini Uba Lyft’s shares fell over 10% in premarket trading on Wednesday after the company issued a cautious forecast for the current quarter. Despite strong second-quarter results, Lyft projected gross bookings between…
Business World Tim Walz’s Record as Minnesota Governor: An Overview August 7, 2024 Ekemini Uba Since Tim Walz became Minnesota’s governor in January 2019, the state’s economic performance has generally lagged behind national trends. Minnesota’s economic growth has fallen short of the overall U.S. growth…
Business World US transport safety board to hold hearings on Boeing 737 MAX 9 mid-air emergency August 6, 2024 Ekemini Uba The U.S. National Transportation Safety Board (NTSB) is set to question witnesses from Boeing, Spirit AeroSystems, and the Federal Aviation Administration (FAA) regarding a mid-air cabin panel blowout of an…
Business Technology World Google has an illegal monopoly on search, US judge finds August 6, 2024 Ekemini Uba A U.S. judge has ruled that Google violated antitrust laws by using billions of dollars to establish an illegal monopoly as the default search engine. This decision represents a victory…
Business World Exclusive: Chinese firms stockpile high-end Samsung chips as they await new US curbs, say sources August 6, 2024 Ekemini Uba Chinese tech giants like Huawei and Baidu, along with various startups, are stockpiling high bandwidth memory (HBM) semiconductors from Samsung Electronics in response to anticipated U.S. export restrictions. This surge…
Business World SoftBank seen posting modest profit in Q1, buyback potential in focus August 6, 2024 Ekemini Uba Japan’s SoftBank Group is anticipated to report a modest profit for the first quarter on Wednesday, but investor focus will be on whether the company will announce a major share…
Stock World Global stock markets plunge on US recession fears August 6, 2024 Ekemini Uba Global stock markets experienced severe declines on Monday, with Wall Street and Tokyo’s Nikkei seeing significant drops. The Nigerian stock market also fell by 0.2%, with the NGX All Share…
Business Technology World Morning Bid: Microsoft and job openings to hit pre-Fed vigil July 30, 2024 Ekemini Uba This week, U.S. and global markets are focused on several significant events, starting with Microsoft’s quarterly update and the Federal Reserve’s policy meeting. Investors will closely watch whether Microsoft’s Azure…
Stock World Commodities fall, stocks nervy ahead of Fed, BOJ rate decisions July 30, 2024 Ekemini Uba Oil prices fell to their lowest since early June, with Brent crude dropping to $79.34 per barrel as concerns about Chinese energy demand overshadowed geopolitical tensions. Prices for other commodities…
World Real Madrid Break €1billion Revenue Barrier July 26, 2024 Ekemini Uba Real Madrid has made history by becoming the first football club to exceed €1 billion in revenue, reaching €1.073 billion ($1.16 billion) for the 2023/24 financial year, a 27% increase…
Business Finance World Nissan shares plunge after profit warning July 25, 2024 Ekemini Uba Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the United States. The Japanese automaker’s net profit for the first quarter dropped…
Business World Unilever Sees 4% Profit Rise in H1 2024 July 25, 2024 Ekemini Uba Unilever reported a 4% increase in net profit for the first six months of 2024, reaching 3.7 billion euros ($4.0 billion), driven by higher sales. The British consumer goods giant,…
Technology World Musk launches poll asking if Tesla should invest $5 bln in xAI, early votes in favour July 24, 2024 Ekemini Uba Tesla CEO Elon Musk has initiated a poll on the social media platform X to gauge public opinion on whether the electric vehicle manufacturer should invest $5 billion in his…
Business World Hotel workers in four US cities to hold strike authorization votes July 24, 2024 Ekemini Uba Approximately 13,500 unionized hotel workers across Boston, San Francisco, Honolulu, and Providence, Rhode Island, are set to vote on strike authorization in early August. The workers, represented by UNITE HERE,…
Business World Fortune 500 firms to see $5.4 bln in CrowdStrike losses, says insurer Parametrix July 24, 2024 Ekemini Uba Fortune 500 companies, excluding Microsoft, are projected to incur financial losses totaling $5.4 billion due to a recent CrowdStrike outage, according to insurer Parametrix. The outage, caused by a faulty…
Business World UK business activity picks up after pre-election lull, PMI data shows July 24, 2024 Ekemini Uba British business activity experienced a notable uptick in July, following a lull before the July 4 election, driven by the fastest manufacturing growth in two years and the strongest influx…
Business World Sherwin-Williams raises 2024 profit forecast on upcoming residential demand July 23, 2024 Ekemini Uba Sherwin-Williams increased its full-year earnings forecast and reported a second-quarter profit that exceeded Wall Street expectations, driven by higher prices and increased sales in its paint stores and coating segments.…
Technology World Samsung Elec talks with union end without result, union says July 23, 2024 Ekemini Uba Sherwin-Williams increased its full-year earnings forecast and reported a second-quarter profit that exceeded Wall Street expectations, driven by higher prices and increased sales in its paint stores and coating segments.…
Business Technology World Italy seizes 121 mln euros from Amazon unit over alleged tax, labour offences July 23, 2024 Ekemini Uba Italian tax police have seized €121 million from Amazon Italia Transport, a logistics unit of e-commerce giant Amazon, amid allegations of tax fraud and illegal labor practices. The Milan Prosecutors’…
Business World Samsung Elec talks with union end without result, union says July 23, 2024 Ekemini Uba Samsung Electronics and representatives of its largest workers’ union in South Korea, currently on strike over pay and benefits, held talks on Tuesday that ended without a resolution, according to…
Business World Spotify reports record quarterly earnings, shares jump 14% in premarket trade July 23, 2024 Ekemini Uba Spotify reported a record quarterly profit of 1.11 billion euros, slightly surpassing analyst expectations of 1.07 billion euros. Earnings per share were 1.33 euros, beating the forecast of 1.06 euros,…
Business World Japan’s chief cabinet secretary calls for broad-based wage hikes July 23, 2024 Ekemini Uba Japan’s Chief Cabinet Secretary, Yoshimasa Hayashi, has emphasized the importance of extending pay increases to smaller firms as part of the government’s strategy to ensure sustainable wage growth. This focus…
Energy World China plans low-carbon upgrades for coal power sector July 16, 2024 Ekemini Uba China has unveiled a government plan aimed at significantly reducing carbon emissions from its coal-fired power industry by implementing low-carbon upgrades and new power generation technologies. As the world’s largest…
Energy World Oil falls on lingering demand concerns in China July 16, 2024 Ekemini Uba Oil prices retreated on Tuesday amid concerns over a slowing Chinese economy impacting demand, despite expectations of an upcoming interest rate cut by the U.S. Federal Reserve that could support…
Finance World Thailand’s Energy Absolute share prices plunge after resumption of trading July 16, 2024 Ekemini Uba Energy Absolute (EA.BK), a leading Thai renewable energy firm, saw its share prices plummet by nearly 30% during Tuesday morning trading following the lifting of a trade suspension imposed after…
Business World Taiwan president thanks Micron CEO for his trust in Taiwan July 12, 2024 Ekemini Uba Taiwan President Lai Ching-te recently expressed gratitude to Micron’s Chief Executive Sanjay Mehrotra for the company’s ongoing investment and trust in Taiwan. In a rare public meeting captured on video,…
Business World Japan households’ inflation expectations heighten, quarterly survey shows July 12, 2024 Ekemini Uba Nearly 90% of Japanese households expect prices to rise in the next year, according to a quarterly Bank of Japan (BOJ) survey, indicating growing inflation expectations. This increase, from 83.3%…
