Business World US lawmakers raise worries about China in Microsoft deal with Emirati AI firm July 12, 2024 Ekemini Uba Republican lawmakers have requested an intelligence assessment from the Biden administration on Microsoft’s $1.5 billion investment in UAE-based AI firm G42, due to concerns about the transfer of sensitive technology…
Business Local World Australia to bring anti-scam law targeting internet giants this year, regulator says July 12, 2024 Ekemini Uba Australia plans to introduce a law by the end of the year requiring internet companies to proactively prevent scams or face significant fines, according to the Australian Competition and Consumer…
Business World Amazon could face probe over treatment of UK grocery suppliers, watchdog says July 11, 2024 Ekemini Uba Britain’s grocery regulator has warned Amazon of a possible formal investigation if it does not improve compliance with the Groceries Supply Code of Practice (GSCOP). The Groceries Code Adjudicator’s (GCA)…
Business World AI frenzy takes Taiwan’s TSMC to record peak, puts it in trillion dollar club July 11, 2024 Ekemini Uba TSMC reached a record high in its second-quarter revenue, driven by strong demand for AI applications. The world’s largest contract chipmaker, with major clients like Nvidia and Apple, topped a…
Business World UK economy improved in May – Report July 11, 2024 Ekemini Uba Britain’s economic output grew by 0.4 percent in May, surpassing analysts’ expectations of 0.2 percent and rebounding from flat GDP growth in April, according to the Office for National Statistics.…
Business World Spirits set to overtake wine as global drinking habits change July 10, 2024 Ekemini Uba A report by the World Spirits Alliance forecasts that more cases of spirits like vodka and whisky will be sold globally compared to wine, due to changing drinking preferences. In…
Business World Honeywell to buy Air Products’ LNG unit for $1.81 bln as deal-making spree continues July 10, 2024 Ekemini Uba Honeywell announced its fourth acquisition of the year, purchasing Air Products’ liquefied natural-gas (LNG) process technology and equipment business for $1.81 billion in cash. This acquisition complements Honeywell’s existing LNG…
World Yandex split nears completion as Russian traders finalise share exchange July 10, 2024 Ekemini Uba Russian traders have finalized a share exchange for investors in Yandex, often referred to as Russia’s Google, marking one of the last steps in a $5 billion deal for local…
Business World Exclusive: Bank of Israel waiting for digital euro ahead of digital shekel launch July 10, 2024 Ekemini Uba The Bank of Israel (BOI) is committed to exploring a digital shekel to enhance the country’s payment system and encourage innovation but is unlikely to introduce it ahead of other…
Business World Australia Increases Minimum Wage To $915 Per Week For Lowest Paid Workers July 10, 2024 Ekemini Uba The Fair Work Commission (FWC) has announced a 3.75% increase in Australia’s minimum and award wages. This change raises the national minimum wage to $24.10 per hour, or $915.91 per…
Business Energy World Oil companies in Texas restoring operations following hurricane Beryl July 9, 2024 Ekemini Uba Oil and gas companies in Texas are restarting operations after Hurricane Beryl hit the state with 80-mph winds, causing property damage and leaving millions without power. Beryl made landfall near…
Technology World Megacaps, chip stocks lift futures before Powell testimony July 9, 2024 Ekemini Uba U.S. stock index futures rose on Tuesday, driven by gains in megacap technology and semiconductor stocks. This continues Monday’s rally, where the S&P 500 and Nasdaq closed at record highs,…
Business World Disney to add new ship in Tokyo to expanding cruise business July 9, 2024 Ekemini Uba Walt Disney (DIS.N) announced plans to launch a new cruise ship from Tokyo in fiscal 2028, adding a ninth vessel to its fleet. This ship, modeled after the largest vessel…
Finance World How a Trump election victory could ruffle Latin American markets July 9, 2024 Ekemini Uba Investors are preparing for various scenarios in case former President Donald Trump wins back the White House in November, with a focus on Latin America. During his previous administration, Trump…
Finance World DBS CEO says bank hunting for bolt-on deals, not game-changing ones July 9, 2024 Ekemini Uba Asia’s wealthy and their bankers are optimistic about a recovery in China, betting that exposure to the region, even amidst a slowdown, will be beneficial in the long run. Piyush…
Business World Crypto market turns green, downside risk remains high July 9, 2024 Ekemini Uba The crypto industry is experiencing turbulence due to Bitcoin sales in Germany and concerns over significant liquidations by Mt. Gox creditors. However, despite these challenges, there is optimism for the…
Business World Australia increases minimum wage to $915 per week for lowest paid workers July 9, 2024 Ekemini Uba Australia’s Fair Work Commission has raised the minimum wage to $915.90 per week, effective from July 1, 2024. This follows a 3.75% increase, bringing the hourly rate to $24.10. The…
Business World Band A customers: NLC demands new tariff hike reversal July 5, 2024 Ekemini Uba The Nigeria Labour Congress (NLC) has criticized the recent increase in electricity tariffs for Band A customers from N206.80 to N209.5 per kilowatt-hour. In a statement on Thursday, NLC President…
Business World China’s BYD opens EV factory in Thailand, first in Southeast Asia July 4, 2024 Ekemini Uba China’s leading electric vehicle (EV) manufacturer, BYD (002594.SZ), has inaugurated its first Southeast Asian factory in Thailand. This is a significant move into one of the region’s fastest-growing EV markets.…
Business World Asia stocks rise on rate cut wagers, yen wallows at 38-year lows July 3, 2024 Ekemini Uba Asian stocks rose on Wednesday following remarks by Federal Reserve Chair Jerome Powell, indicating potential upcoming U.S. rate cuts. The MSCI Asia-Pacific index, excluding Japan, increased by 0.64%, driven by…
Business World UK Investors Pour Record £11.4 Billion into Equity Funds in First Half of 2024 July 3, 2024 Ekemini Uba British investors injected a record £11.4 billion into equity funds during the first six months of 2024, driven by the expectation of further central bank interest rate cuts, according to…
Business World Nippon Steel’s Mori to visit US again next week for talks on US Steel takeover July 3, 2024 Ekemini Uba Nippon Steel’s Vice Chairman, Takahiro Mori, will travel to the United States next week to discuss the proposed $15 billion acquisition of U.S. Steel, the company announced on Wednesday. This…
Business World Dangote Refinery Begins Gasoil Exports To West African Countries, As Imports From Europe Decline July 3, 2024 Ekemini Uba Aliko Dangote, Chairman of the Dangote Group, strongly criticized the Central Bank of Nigeria (CBN) for increasing the interest rate to nearly 30% during his speech at a summit organized…
Business World China’s BYD posts 21% jump in quarterly EV sales, closes gap with Tesla July 2, 2024 Ekemini Uba China’s BYD reported a 21% increase in electric vehicle (EV) sales for the second quarter, bringing its total to 426,039 EVs sold from April to June. This is just under…
World Air Canada to Receive 8 Boeing 737 MAX 8 Jets from BOC Aviation July 2, 2024 Ekemini Uba Air Canada announced on Tuesday an agreement to receive eight Boeing 737 MAX 8 jets from lessor BOC Aviation. These aircraft are scheduled for delivery in 2024 and will undergo…
Business World South African rand extends losses, focus on unity government’s reforms July 2, 2024 Ekemini Uba The South African rand continued its decline on Tuesday, trading at 18.6325 against the dollar, a 1.5% drop from the previous close. This follows a volatile start to the week…
World US job openings increase; trend still slowing July 2, 2024 Ekemini Uba In May, U.S. job openings increased by 221,000 to 8.140 million, indicating a modest rebound following significant declines in the previous two months. This rise, reported by the Labor Department’s…
World Australia raises international student visa fees by 225% to prevent migration July 2, 2024 Ekemini Uba Australia has significantly increased student visa application fees from $710 to $1,600, effective July 1, 2024, marking a 225% hike. This increase makes Australia the most expensive country for student…
Business World Russia’s VTB bank says US sanctions have complicated cross-border transactions June 28, 2024 Ekemini Uba The recent U.S. sanctions on Moscow have significantly affected Russian banks, including VTB, Russia’s second-largest lender. Dmitry Pyanov, VTB’s finance director, acknowledged the challenges posed by these sanctions but expressed…
Business World Ackman’s Pershing Square USA to offer shares at $50 in NY listing June 28, 2024 Ekemini Uba Pershing Square USA, managed by billionaire Bill Ackman, is preparing for its initial public offering (IPO) on the New York Stock Exchange with shares priced at $50 each. This new…
