Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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Bank of England set to cut rate as UK economy weakens
The Bank of England is widely expected to cut its key interest rate Thursday, with policymakers mindful of US tariffs and their potential risks to an already-struggling UK economy. The European Central Bank is meanwhile widely expected to keep rates unchanged at its next meeting, with eurozone inflation around the ECB's two-percent target.
Apple to invest additional $100 bn in US
Apple will invest an additional $100 billion in the United States, taking its total pledge to $600 billion over the next four years, US President Donald Trump said Wednesday. In February, Apple said it would spend more than $500 billion in the United States and hire 20,000 people, with Trump quickly taking credit for the decision.
Major climate-GDP study under review after facing challenge
A blockbuster study published in top science journal Nature last year warned that unchecked climate change could slash global GDP by a staggering 62 percent by century's end, setting off alarm bells among financial institutions worldwide. Yet the eye-popping claim that global GDP would be lowered by 62 percent by the year 2100 under a high emissions scenario soon drew scrutiny.
US government gets a year of ChatGPT Enterprise for $1
OpenAI on Wednesday said it was letting the US government use a version of ChatGPT designed for businesses for a year, charging just $1 for the service. OpenAI, in "coordination" with the US government, will help countries build data centers and provide customized versions of ChatGPT, according to the tech firm.
Brazil seeks WTO relief against Trump tariffs
Brazil on Wednesday approached the World Trade Organization (WTO) for relief against a hefty trade tariff imposed by President Donald Trump on more than a third of US-bound exports from the Latin American powerhouse.
McDonald's sees US rebound but says low-income diners remain stressed
McDonald's profits rose in the second quarter behind a rebound in US sales but executives said Wednesday that low-income consumers remained under economic stress. McDonald's Chief Executive Christopher Kempczinski described the US consumer base as "bifurcated," with weakness in low-income consumers a reason for lingering caution on the outlook, he said at the outset of an earnings conference call.
Trump hikes India levy over Russian oil as tariff deadline approaches
US President Donald Trump on Wednesday ordered steeper tariffs on Indian goods over New Delhi's continued purchase of Russian oil, opening a new front in his trade wars just hours before another wave of duties takes effect.
Swiss president to meet Rubio as surprise tariff hike looms
Switzerland's president met with her country's business representatives Wednesday in Washington -- ahead of scheduled talks with the US secretary of state -- in a last-minute visit as she scrambles to avoid a surprise tariff hike. On Wednesday morning, Keller-Sutter and Parmelin arrived at the State Department in Washington for their scheduled talks with US Secretary of State Marco Rubio.
Italy approves plans for world's longest suspension bridge
Italy's government on Wednesday approved a controversial 13.5-billion-euro ($15.6-billion) project to build what would be the world's longest suspension bridge connecting the island of Sicily to the mainland. Italian politicians have for decades debated a bridge over the Strait of Messina, a narrow strip of water between the island of Sicily and the region of Calabria, at the toe of Italy's boot.
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