After recently discovering almost 20 oil blocs, Niger government is now inviting Africa’s richest man, Aliko Dangote, to help in the exploration and development.
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McDonald's profits hit by weakness in US market
Fast food giant McDonald's reported a drop in first-quarter profits Thursday as US traffic from low- and medium-income customers diminished amid economic anxiety in the wake of President Donald Trump's trade wars. Shares of McDonald's fell 1.3 percent in afternoon trading. jmb/aha
US-Ukraine minerals deal: what we know
Washington and Kyiv have signed a new minerals deal that will see the United States invest in Ukraine's rare earth and other deposits as it seeks to reduce military aid to the war-torn country. Kyiv says "rare earth metals are known to exist in six deposits" and an investment of $300 million would be needed to develop a deposit at Novopoltavske, which it claimed was one of the world's largest.
GM cuts 2025 outlook, projects up to $5 bn hit from tariffs
General Motors pledged Thursday to take additional steps to boost its US supply chain after projecting a $4-5 billion hit to the US auto giant's 2025 earnings from President Donald Trump's tariffs. GM postponed its earnings conference call until Thursday after Trump's tariffs move.
Sheinbaum says agreed with Trump to 'improve' US-Mexico trade balance
Mexican President Claudia Sheinbaum said Thursday that she had spoken with her US counterpart Donald Trump and agreed to work toward improving the trade balance between the two nations.
IKEA opens new London city centre store
Swedish furniture giant IKEA on Thursday opened a new store in the heart of London's shopping district, with a flurry of balloons, flags -- and giant meatballs. Some shoppers held Swedish and UK flags as they posed for photos with a giant meatball, as others browsed the store, which it is hoped will help regenerate Oxford Street after the closure of several big-name outlets.
Microsoft raises Xbox prices globally, following Sony
Microsoft announced Thursday that it will increase Xbox console prices worldwide, citing "market conditions" just days after Sony made a similar move with its PlayStation 5. In mid-April, Sony announced price increases for several PlayStation 5 models in select markets, including Europe but notably excluding the United States.
Nestlé Nigeria grows revenue by 61% to reverse N142 billion loss
Nestle Nigeria has been reputed to be one of the biggest FMCG in the country, but major FX losses in 2023 and 2024 hit the bottomline, causing investors to worry.
Dangote to convert 6,000 diesel-powered trucks to CNG, as FG trains 5,000 CNG technicians
The federal government is on the move to increase the number of CNG-powered automobiles in Nigeria, and more conversion stations are being set up.
CBEX opens up about what happened to investors funds, mentions withdrawal date
CBEX has finally explained what happened to investors' funds and provided a new date investors can withdraw 50% of their funds. But, there are conditions to be met.
Economy
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