Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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Australia lifts trade barriers on US beef
Australia said Thursday it would lift trade barriers on beef from the United States, removing a major point of friction between Canberra and the Trump administration. Threatened with 10 percent tariffs on beef shipped to the United States, one of its largest red meat markets, Australia has now dropped these barriers.
Google-parent Alphabet earnings shine with help of AI
Google-parent Alphabet on Wednesday reported quarterly profits that topped expectations, saying artificial intelligence has boosted every part of its business. "AI is positively impacting every part of the business, driving strong momentum."
Tesla reports 16% profit drop to $1.2 bn on lower auto sales
Tesla reported another drop in quarterly profits Wednesday on lower auto sales amid intensifying electric vehicle competition and lingering backlash over CEO Elon Musk's involvement in US politics. Lower profits had been expected after Tesla earlier this month disclosed a decline in auto deliveries.
US-EU tariff talks progress as Trump announces Japan deal
United States and European officials signaled progress in tariff talks Wednesday, after US President Donald Trump announced a pact with Japan and China said its vice premier would attend bilateral negotiations next week. As the clock ticks down, China said Wednesday it would seek to "strengthen cooperation" with Washington, and confirmed vice premier He Lifeng would attend the talks.
Champagne makers cut harvest as global outlook fizzles out
France's champagne producers said Wednesday they were cutting the amount of grapes to be made into the region's celebrated fizz by 10 percent due to an uncertain economic outlook. Although champagne sales "are relatively stable," the economic uncertainty "is prompting the industry to exercise caution", said the association, which represents 16,000 winegrowers and 350 champagne houses.
Tears of relief: Senate secures N81 billion N-Power arrears for long-suffering beneficiaries
A Senate intervention led by Senator Barau Jibrin, the Deputy Senate President, will enable N-Power beneficiaries to receive N81 billion allowances.
US existing home sales dip to 9-month low on high costs
Sales of previously-owned homes in the United States hit their lowest rate in nine months, according to industry data released Wednesday, as high home prices and mortgage rates weighed on the market. High mortgage rates were also fueling the gloom in home sales, he said.
India's Infosys narrows revenue forecast as profits beat expectations
Indian IT giant Infosys on Wednesday increased the lower end of its annual growth forecast for the current fiscal year after reporting better-than-expected results for the June quarter. The Bengaluru-headquartered firm also reported a 8.6 on-year increase in net profit to hit 69.2 billion rupees ($801 million) for the April-June quarter.
Canal+ clears final hurdle to acquire S.Africa's MultiChoice
France's Canal+ said Wednesday it had cleared the final regulatory hurdle for the buyout of Africa's largest pay TV enterprise MultiChoice and further expand its footprint on the continent. The approval "clears the way for us to conclude the transaction in line with our previously communicated timeline" by October 8 at the latest, Canal+ chief executive Maxime Saada said in a statement.
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