By MacDonald Dzirutwe LAGOS (Reuters) – Nigeria’s new president Bola Tinubu faces a litany of problems, including widespread violence, double-digit inflation and industrial-scale oil theft. His victory is being challenged in court by his two main rivals in February’s election, and analysts say he may need to reach out to opponents to help heal a…
BEIJING (Reuters) – China’s factory activity likely contracted further in May, a Reuters poll showed on Monday, adding to pressures facing the world second-biggest economy amid an uneven economic recovery from the COVID-19 pandemic. The official manufacturing purchasing managers’ index (PMI) is expected to rise to 49.4 in May from 49.2 in April, according to…
By Toby Sterling AMSTERDAM (Reuters) – Uber is seeing an influx of European taxi drivers joining its platform, an executive told Reuters, a surprising development given the history of tensions between the company and the traditional taxi industry. In an interview, Uber’s Anabel Diaz, who oversees the company’s mobility (ride-sharing) business in EMEA, said business…
By Joseph White DETROIT (Reuters) -Nvidia Corp and MediaTek Inc on Monday said they will collaborate on technology to power advanced vehicle infotainment systems that can stream video or games or interact with drivers using artificial intelligence. Under the agreement, announced at the Computex technology trade show in Taipei, MediaTek will integrate an Nvidia graphic…
(Reuters) -Key jobs figures in the United States, Chinese business activity data and European inflation readings are giving more evidence on the pull and push factors impacting the world’s top economies. A deal on the U.S. debt ceiling, struck on Sunday, will move to Congress for a vote while in Turkey, voters gave President Tayyip…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s economy is on a solid path to recovery and showing resiliency, helped by good revenue collection and a normalisation of its tourism sector, while inflation should come in below 3% this year, its finance minister said on Monday. Southeast Asia’s second-largest economy expanded faster than…
By Lewis Jackson SYDNEY (Reuters) – PricewaterhouseCoopers (PwC) Australia on Monday ordered nine partners to take leave and overhauled its governance board, as it battles a national scandal over the misuse of confidential government tax plans. The “big four” firm is reeling after a former tax partner consulting on new anti-tax avoidance laws shared confidential…
(Reuters) – Foreign investors who left Russia after selling their businesses there between March 2022 and March 2023 withdrew about $36 billion from the country, the state RIA news agency reported on Monday, citing analysis of data from the Central Bank. Scores of the world’s biggest companies have left or scaled back their operations in…
(Reuters) – Australia’s AMP said on Monday Blair Vernon will take over from Peter Fredricson as its chief financial officer and will dissolve the structure of its local wealth management arm in a bid to simplify its operational model. Shares of the 174-year-old wealth manager traded 1.4% higher as at 0224 GMT, marking their second…
By Moira Warburton, Diane Bartz and Idrees Ali WASHINGTON (Reuters) -U.S. President Joe Biden on Sunday finalized a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4 trillion debt ceiling until Jan. 1, 2025, and said the deal was ready to move to Congress for a vote. “This is a deal that’s good…
