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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- New tax law replaces reliefs with rent-based deductions, capped at N500k
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- FG invites Nigerians to apply for N50k for their business, releases link
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- Farmers name those responsible for rice selling above N80,00 per bag
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Sales of new US homes at highest level in over a year
Sales of new homes in the United States last month exceeded analyst expectations Thursday, logging the fastest pace in more than a year on the back of cooler mortgage rates. The rate was higher than a consensus of analysts expected.
American Airlines reports loss on costs from new labor contract
American Airlines reported a loss Thursday on costs connected to a new labor contract, but described travel demand as solid as it lifted its full-year earnings forecast. American lifted its full-year profit forecast to between $1.35 and $1.60 per share, compared with the earlier range of 70 cents to $1.30 per share.
King Charles's Scottish retreat could become wedding venue
Britain's King Charles III's remote private estate in the Scottish Highlands could become an exclusive location for weddings, if an application to the local council is approved.
US unveils national security memorandum on AI
The United States unveiled Thursday a framework to address national security risks posed by artificial intelligence, a year after President Joe Biden issued an executive order on regulating the technology. The instruction came as he issued an executive order on regulating AI, aiming for the United States to "lead the way" in global efforts to manage the technology's risks.
AI and digitalisation to eliminate 9,000 jobs at Intesa Sanpaolo
Italy's leading bank, Intesa Sanpaolo, has reached a deal with trade unions for 9,000 voluntary job cuts -- around 10 percent of its workforce -- due to the expansion of artificial intelligence (AI) and digitalisation.
Ireland fines LinkedIn 310 mn euros over EU data breach
An Irish regulator helping to police European Union data privacy said Thursday it had fined professional networking platform LinkedIn 310 million euros ($335 million) over breaching users’ personal data for targeted advertising.
New models help Renault maintain sales in third quarter
Renault said Thursday it managed to post an increase in third quarter revenue, weathering the overall slowdown in auto sales better than many rivals thanks in part to the introduction of new models. Overall revenue at the French carmaker edged 1.8 percent higher to 10.7 billion euros ($11.6 billion) in the third quarter, although auto sales dipped 0.5 percent to 9.3 billion.
Good news as IMF predicts naira stability, lists factors to drive growth
The Central Bank of Nigeria's efforts to clear FX backlogs and recent interest rate hikes are credited by the International Monetary Fund with stabilizing the naira.
Hermes bucks trend to post rising sales
French luxury group Hermes posted Thursday a jump in third quarter sales, bucking the overall gloom in the sector caused by falling sales in China. China is the world's biggest spender in the luxury sector, accounting for half of global sales.
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