Chinese-owned luxury carmaker Lotus said Thursday that it planned to cut up to 550 UK jobs, in part over uncertainty caused by US President Donald Trump's tariffs. The carmaker, which is majority owned by Chinese auto giant Geely, has several sites in the UK, including its headquarters in Hethel, eastern England.
The Nigerian government has asked Nigerians to invest in its savings bonds and offering an interest rate of 13.5 percent per annum beginning with N5,000
Korean Air said Tuesday it "strictly manages" cosmic radiation exposure for its flight crew, after a landmark decision ruled an air steward's cancer death was akin to an industrial accident. The ruling is the first time that an official labour body in South Korea has recognised the correlation between cosmic radiation and cancer for flight attendants as an industrial death.
UBS posted a larger-than-expected loss in the third quarter on Tuesday, the first quarterly drop since 2017 as it integrates Credit Suisse after taking over its fallen Swiss banking rival. Credit Suisse posted a positive inflow of net new money for the first time since the first quarter of 2022 at $3 billion.
The Dangote Industries says it has repatriated about $687. 977 million from its pan-African operations, boosting Nigeria's foreign exchange market.
China is owed more than a trillion dollars through its Belt and Road project, making it the biggest debt collector in the world, a report said this week, with an estimated 80 percent of the loans supporting countries in financial distress.
Asian markets turned negative Tuesday after their latest rally as high hopes the US Federal Reserve has finished hiking rates gave way to profit-taking. Still, markets are betting on a number of rate cuts next year totalling more than 100 basis points.
Several dozen owners of transport companies on Monday blocked three major Polish border crossings with Ukraine to protest what they say is unfair competition from the neighbouring country's businesses. "Their costs of servicing a truck, hiring a driver or merely of opening a business or paying social insurance are much lower," Marek Oklinski, a transport company owner, told AFP in Dorohusk.
The union representing striking actors said Monday it could not agree to studios' "last, best and final offer" issued over the weekend in a bid to end a months-long stalemate that has crippled Hollywood.
Corporations are increasingly committed to green agendas, but a new report on Tuesday reveals that only one in 20 of over a thousand publicly listed companies have a detailed strategy for how they will reach their greenhouse gas targets. And whether companies have a detailed plan for reaching them," he added.
Economy
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