In the heart of Data Center Alley -- a patch of suburban Washington where much of the world's internet traffic flows -- Visa operates its global fraud command center. Every year, $15 trillion flows through Visa's networks, representing roughly 15 percent of the world's economy.
China said Friday sales to the United States slumped last month while its total exports topped forecasts, as Beijing fought a gruelling trade war with its superpower rival. However, exports to the United States -- one of China's top trading partners -- fell 17.6 percent month-on-month, data showed.
A formidable set of cards that includes granting access to its vast market and an ability to withstand economic pain will allow Beijing to play hardball in upcoming trade talks with the United States in Geneva, analysts say.
Surrounded by samples of silk and glittering tweed in one of China's largest fabric markets, textiles exporter Cherry said she was anxiously awaiting the result of trade talks with the United States this weekend. Sales to the United States made up 18 percent of China's total textiles and apparel exports in 2024, according to Moody's Ratings.
Most Asian equities rose Friday on growing optimism that the worst of Donald Trump's trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend.
The founder and former CEO of bankrupt cryptocurrency trading platform Celsius, Alexander Mashinsky, was sentenced Thursday to 12 years in prison on fraud charges. Mashinsky, 50, pleaded guilty last December to securities fraud in a deal that reduced the level of charges he faced.
The House of Representatives have uncovered some shady areas in the CBN loan to 11 discos, and set up an investigative panel to dig up the details.
Nigeria has been removed from the IMF debtor list after repaying the $3.4 billion loan. However, there are still payments to be made over the next few years.
The Trump administration's latest trade deal with Britain unfairly penalizes US automakers that have partnered with Canada and Mexico, a trade group representing Detroit automakers said Thursday. The Detroit companies organized their supply chains around the 2020 US-Mexico-Canada Agreement (USMCA), which Trump negotiated in his first term.
The courtesy visit from the Dangote Refinery signifies a friendly handshake between the duo, but Nigerians are now eager to see how fuel prices would be affected.
Economy
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