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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Bank of England cuts interest rate as inflation slows
The Bank of England on Thursday said it was cutting its key interest further after UK inflation hit a three-year low and signalled more reductions, easing pressure on borrowers. Sweden's central bank slashed borrowing costs by 0.5 basis points Thursday -- its fourth this year and biggest reduction in a decade -- while Norway made no change.
French parliament approves bill to rein in tourist rentals
The French parliament on Thursday approved a bill aimed at tightening the regulation of tourist accommodation such as Airbnb to combat the shortage of affordable housing. The bill -- the result of a compromise between the two houses of French parliament -- had been unanimously approved by the upper house Senate on Tuesday.
Pharma giant AstraZeneca says China chief detained
Pharmaceutical giant AstraZeneca said Thursday that the head of its China operations had been detained, after reports the firm was under investigation for potentially illegal data collection and drug imports.
French lawmakers back bill to tighten Airbnb regulation
French lawmakers on Thursday backed a bill aimed at increasing the regulation of tourist accommodation such as Airbnb to combat the shortage of affordable housing. The legislation, which has been in the works since April 2023, aims to slash tax breaks for tourist properties in a bid to curb short-term rentals amid shortages of affordable housing.
Nissan announces 9,000 job cuts, slashes sales forecast
Japanese automaker Nissan on Thursday announced 9,000 job cuts as it slashed its annual sales forecast, saying it was taking urgent measures to tackle "a severe situation". "Facing a severe situation, Nissan is taking urgent measures to turnaround its performance and create a leaner, more resilient business capable of swiftly adapting to changes in the market," a company statement said.
China export growth beats expectations with October surge
Chinese exports surged last month at their fastest pace in more than two years, data showed Thursday, easily topping forecasts and providing optimism about the economy as officials steel for a potential US trade war after Donald Trump was re-elected president.
Equities swing, bitcoin hits record as traders weigh Trump 2.0
Asian equities fluctuated Thursday, while the dollar held gains and bitcoin hit a fresh record as markets try to ascertain the consequences of a second Donald Trump presidency after he pledged to cut taxes and ramp up tariffs with an eye on China.
Trump has vowed sweeping tariffs: What comes next?
US president-elect Donald Trump says "tariff" is the most beautiful word in the dictionary -- and the Republican's second term promises sweeping measures on all $3 trillion worth of US imported goods. - Trump has promised at least a 10 percent tariff on all imports, and a higher level of 60 percent or more on Chinese goods -- stepping up levies on Beijing and others.
US Fed rate cut plans likely unchanged by Trump victory
The US Federal Reserve is widely expected to cut interest rates by a quarter point Thursday, looking beyond the election results to continue easing borrowing costs on the back of cooling inflation.
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