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.
The naira has appreciated against the dollar in the official foreign exchange market on Thursday, May 8, 2025, trading at N1,608 per dollar from N1,612.
The general interest rate in commercial banks has made loans prohibitive for small businesses seeking to scale. Lagos state is solving this problem.
Microsoft co-founder Bill Gates announced Thursday an accelerated timeframe for giving away his fortune as he touted artificial intelligence as a game-changer to boost public health and save lives globally. The organization, which had more than $71 billion in assets at the end of 2023, has been credited with helping to reshape the world of global public health.
US President Donald Trump branded Fed Chair Jerome Powell a "fool" on Thursday after the central bank announced another pause in rate cuts and warned of higher risks to inflation and unemployment goals. "'Too Late' Jerome Powell is a FOOL, who doesn't have a clue," Trump posted on his Truth Social network, in a fresh attack on the head of the independent Federal Reserve.
The goal of the Digital Literacy for all programme is to ensure that 95% of Nigerians acquire the skills, and get connected with jobs before the deadline.
The Gates Foundation plans to spend more than $200 billion over the next 20 years, accelerating its public health mission and shutting down in 2045, the organization said Thursday. The new timetable means a change to the organization's charter, which planned for the foundation to sunset 20 years after the death of Bill Gates.
Uncollected electricity bills have been increasing by an average of N50 billion every month, causing concerns to investors as they battle cashflow problems.
The EU on Thursday threatened to target US cars and planes among a raft of products worth 95 billion euros ($107 billion) if negotiations with President Donald Trump's team fail to avert a trade war. Planes and autos make up some of the largest value of goods on the list, worth 10.5 billion euros and more than 12 billion euros respectively, a senior EU official said.
EU lawmakers on Thursday gave the green light to a delay for European carmakers to meet new emission targets, as the bloc seeks to balance climate goals with supporting the struggling industry. Criticizing the move, Green EU lawmaker Saskia Bricmont said loosening emissions rules would "delay the marketing of affordable electric vehicles, which are vital" for European consumers.
Economy
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