The Nigerian currency faced a renewed volatility, depreciating in the Nigerians Forein Exchange Market (NFEM) due to the shortage US dollars in the FX market.
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FG disburses N330bn: 7 million poor households to get cash transfers before year-end
About seven million Nigerian families will receive cash transfers before the end of 2025, as the Nigerian government has said it has disbursed N300bn to Nigerians
Bank of England holds rate as inflation stays high
The Bank of England kept its key interest rate at four percent Thursday, as elevated UK inflation offsets the country's stagnant economic growth. Elsewhere Thursday, Norway's central bank reduced interest rates to four percent to avoid putting pressure on the country's economy.
Deliveroo CEO to step down following DoorDash takeover
Will Shu, founder of food delivery app Deliveroo, will step down as its chief executive once US rival DoorDash completes a takeover of the British group, a statement said Thursday. "Taking Deliveroo from being an idea to what it is today has been amazing," Shu said in the statement.
Mixed fortunes as naira reverses two-week gain amid surge in reserves
The Nigerian currency, the naira, momentarily lost its grip, depreciating to N1,497 per dollar from N1,484 as demand for the US currency returned.
Shoprite stores close in two states as Lagos, Abuja outlets struggle with empty shelves
Shoprite Nigeria is facing major struggles, with outlets in Ibadan and Ilorin shut down and several branches in Lagos and Abuja left with empty shelves.
Germany's Continental launches IPO of car parts unit
Trading in Continental's struggling auto parts division got off to a slow start Thursday as it was listed on the Frankfurt stock exchange, the latest upheaval in Germany's car industry. Aumovio CEO Philipp von Hirschheydt hailed a "bold new chapter" as he rang the bell at the Frankfurt Stock Exchange to mark the start of trading.
Asian markets fluctuate after Fed cuts interest rates
Equities wavered in Asia on Thursday after the Federal Reserve lowered interest rates but left investors wondering how many more cuts were in the pipeline despite boss Jerome Powell warning about the struggling jobs market.
Judge weighs court's powers in Trump climate case
A federal judge overseeing a closely watched climate case on Wednesday pressed the lawyer representing young Americans suing President Donald Trump on whether courts have constitutional authority to rein in his fossil-fuel agenda.
Meta expands AI glasses line in a bet on the future
Meta showed off new smart glasses on Wednesday as it continued to bank on a lifestyle shift toward blending reality and virtual space despite the efforts inflicting heavy financial losses. But Reality Labs -- Meta's virtual and augmented reality unit -- has consistently posted big losses.
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