
The Nigerian currency, the naira, is on a bullish run against the US dollar, appreciating to N1,497 per dollar and N1,525 in the parallel segment of the FX market.
The Nigerian currency, the naira, is on a bullish run against the US dollar, appreciating to N1,497 per dollar and N1,525 in the parallel segment of the FX market.
Apple on Monday rolled out its first set of artificial intelligence features, dubbed "Apple Intelligence," across its premium iPhone, iPad, and Mac devices, marking the tech giant's major push into generative AI. The release, first previewed by the company in June, marks Apple’s foray into an AI race that has seen the US tech giants rush into ChatGPT-style technology.
The International Finance Corporation has signed an agreement with the Central Bank of Nigeria (CBN) to increase local currency financing for businesses in Nigeria.
Philadelphia's chief prosecutor sued billionaire Elon Musk and his pro-Trump political action committee on Monday to halt his $1 million giveaways to registered voters. Musk has reportedly donated $118 million to his personal pro-Trump political action committee, an organization which collects funds for elections.
Boeing announced a stock offering on Monday expected to raise up to $19 billion, saying proceeds will go towards repaying debt and investing in its subsidiaries. Boeing announced an offer to sell 90 million shares of common stock -- valued at around $13.9 billion at current market prices -- in addition to $5 billion in depositary shares.
Ailing auto giant Volkswagen plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive, workers' representatives said Monday, calling the proposed cuts "of historic dimensions".
A ship carrying hundreds of tonnes of possibly toxic industrial waste returned to Albania's largest seaport of Durres on Monday, months after setting sail to dispose of the material in Thailand. Ultimately rejected by Thailand, the ship turned back and returned to Albania after several months at sea, with stopovers in Spain, Portugal, Italy, and Turkey.
Volkswagen is considering closing several plants in Germany and slashing salaries by 10 percent as the ailing auto giant pursues a drastic cost-cutting plan, a media report said Monday. VW is also eyeing a 10-percent pay cut for all remaining staff and no salary increases in 2025 and 2026, Handelsblatt said.
Dutch medical device maker Philips lowered Monday its full year sales target, blaming drop in demand from Chinese hospitals as it released third quarter results. Third quarter sales came in at 4.37 billion euros ($4.7 billion), a drop of two percent from the same period last year.
The Nigerian naira has depreciated to N1,740 per dollar in the parallel market, which may make it the worst-performing currency globally by year-end.
Economy
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