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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Prices of rice, tomatoes, other food items soars as retailers struggle with unpredictable costs
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Asia stocks rise as traders weigh China-US row, rate cut hopes
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Customer Service Week: How FIRS boss Adedeji transformed tax Sservice, Nigerians feel the change
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Putin says Russia a top oil producer, despite 'unfair' pressure
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Asian stocks fall with Wall St as US credit fears add to worries
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Stars align for Louis Vuitton, Stella McCartney at Paris Fashion Week
Louis Vuitton showcased a collection of flouncy skirts and sculptural ruffles in front of a star-packed audience while Stella McCartney had war and peace on her mind for her show on day two of Paris Fashion Week on Tuesday. - Anderson debut - A flurry of new appointments at major labels have lent this Paris Fashion Week momentous significance.
Amazon adds AI muscle to connected home lineup
Amazon on Tuesday unveiled the latest generation of connected products, featuring enhanced artificial intelligence capabilities designed to make interactions with AI more frequent and natural. Amazon believes in "ambient" AI, in Panay's words, which "lives naturally in the products themselves."
Trump announces Pfizer deal he says will lower certain drug prices
The Trump administration on Tuesday announced a deal granting Pfizer a three-year reprieve on planned tariffs as the pharmaceutical giant vowed to voluntarily lower the prices of unspecified drugs for US purchase. Asked Tuesday about the timeline for fresh tariffs, Commerce Secretary Howard Lutnick said the Trump administration plans to allow negotiations with companies to play out. bur-mdo/mlm
Board of Spain's Sabadell bank rejects improved BBVA takeover bid
The board of Spanish bank Sabadell on Tuesday rejected larger national rival BBVA's improved hostile takeover bid as 10 days remain for shareholders to make a final decision. BBVA raised its takeover offer by 10 percent last week, but Sabadell said its board had met on Tuesday and, "taking into account all the terms and characteristics of the offer, rejects the offer".
“Full list”: IMF names 10 African countries facing biggest debts
About 10 African countries, including Nigeria, have labeled some of the countries facing debt exposure to the International Monetary Fund (IMF) as of July 19, 2024.
Naira strengthens to ₦1,476 per dollar as investors dump dollar assets, CBN reforms boost confidence
The naira has maintained its strong rally against the US dollar in the official and black markets, rising to N1,476 per dollar in the official forex window.
ECB chief says eurozone weathering Trump tariff storm
European Central Bank chief Christine Lagarde said Tuesday US tariffs had not hit the eurozone as badly as feared, but warned new risks could lie ahead in an uncertain world. After bringing rates down from record highs, the central bank has held them steady at its past two meetings, and most analysts do not expect a change soon. sr/jsk/rmb
Spotify founder Daniel Ek to give up CEO role
Spotify co-founder Daniel Ek will step down as CEO on January 1 and become executive chairman, handing the reins to two of his deputies in a leadership shake-up, the music streaming giant said Tuesday. "In my role as executive chairman, I will focus on the long arc of the company and keep the board and our co-CEOs deeply connected through my engagement," Ek said. jll/lth
EU green lights Prada's bid for Versace
The EU on Tuesday cleared Italian fashion label Prada's 1.25-billion-euro ($1.5-billion) purchase of rival Versace after finding the acquisition raised no competition concerns. The European Commission said it concluded the purchase "would not raise competition concerns, given the companies' limited market positions resulting from the proposed transaction".
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