The United States Trade Representative (USTR) has released a statement slamming the Nigerian government's decision to impose a ban on 25 products.
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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CBN sends warning to those spraying, hawking naira, advocates clean naira note
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Bolivia candidate vows to scrap China, Russia lithium deals
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25 Banned Items: US may ban more products, data shows top Imports from Nigeria in 2025
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Women's NBA could face lockout as union deal deadline looms
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Gucci owner Kering posts 46% profit slump before new CEO arrives
French luxury group Kering reported Tuesday a 46 percent plunge in net profit during the first half, with sales slumping again at its flagship Gucci brand, as the group awaits a new CEO to try to regain its footing. Group net profit fell to 474 million euros ($547 million) in the first half from 878 million in the same period last year, on sales that were down 16 percent at 7.6 billion euros.
P&G estimates $1 bn tariff hit, plans some US price hikes
Procter & Gamble executives projected a $1 billion hit from US tariffs over the next year on Tuesday as the consumer products giant said it would institute limited price hikes in the United States. But P&G executives said they don't have enough details about the just-announced deal between the United States and Europe to update the forecast.
New law mandates banks, financial institutions to recover tax from defaulters
The Nigeria Tax Administration Act (NTAA) now mandates banks, financial institutions and debt collectors to collect tax from defaulters when all avenues fail.
Boeing reports smaller loss, sees more 'stability' in operations
Boeing reported a smaller loss in the second quarter Tuesday after the company delivered more planes, with its CEO pointing to signs of stabilization in operations. Boeing delivered the most planes in a second quarter, or in the first half of a year, since 2018, reflecting efforts to improve its quality control operations following a number of safety problems.
IMF lifts 2025 growth forecast on 'fragile' easing in trade tensions
The IMF raised its global growth forecast Tuesday as efforts to circumvent Donald Trump's sweeping tariffs sparked a bigger-than-expected surge in trade, while the US president stepped back from some of his harshest threats. For now, a "modest decline in trade tensions, however fragile, has contributed to the resilience of the global economy," Gourinchas told reporters Tuesday.
Fossil-fuel pledge in EU-Trump deal sparks climate fears
The EU is promising colossal new US fossil fuel purchases under its trade deal with President Donald Trump, raising concerns for the bloc's climate fight -- should the mammoth pledges come true. The Trump trade deal comes as the EU debates its 2040 emissions-reduction target, a key step towards its net zero goal.
Novo Nordisk cuts earning forecasts again, names new CEO
Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, on Tuesday lowered its full-year earnings forecasts again as it unveiled a new chief executive to tackle "recent market challenges".
Naira trades steady as dealers buy dollar at new rate, FX reserves rise to $38.765 billion
The Nigerian currency, the naira's traded flat in the official foreign exchange market on Monday, July 28, 2025, amid interventions by the Central Bank of Nigeria.
LA wildfires push insurance losses to highest since 2011: Munich Re
The Los Angeles wildfires drove insured natural disaster losses in the first half of the year to their highest level since Japan's Fukushima disaster in 2011, German reinsurance giant Munich Re said Tuesday. Insurers took almost $80 billion (69 billion euros) of losses from natural disasters worldwide, Munich Re said, the second-highest hit since 1980.
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