Mark Zuckerberg, CEO of Meta Platforms Inc., sold more than $733 million worth of company shares during the first quarter of 2025, just weeks before former President Donald Trump’s announcement of significant reciprocal tariffs on April 2. The disclosure, reported by Bloomberg based on data from Washington Services, has raised questions about executive stock trading…
Ford Motor Company has announced the suspension of exports for several vehicle models to China, citing the growing challenges from escalating trade tensions and retaliatory tariffs. The move affects popular U.S.-made vehicles, including the F-150 Raptor, Mustang, Michigan-built Bronco SUVs, and Kentucky-made Lincoln Navigators. In a statement issued on Friday, Ford explained that it had…
Volvo Group has announced plans to lay off between 550 and 800 workers across three of its U.S. facilities over the next three months, citing ongoing market uncertainty and weakening demand—further strained by tariffs introduced during former President Donald Trump’s administration. The affected facilities include the Mack Trucks plant in Macungie, Pennsylvania, and two Volvo…
In a dramatic and symbolic protest, two masquerades led a large crowd of youths through the streets of Omu-Aran, Irepodun Local Government Area of Kwara State, to express outrage over what they described as an unjustified hike in electricity tariffs and the sudden reclassification of the town’s power supply from Band C to Band A.…
Prada has announced a major agreement to acquire rival Italian fashion house Versace from Capri Holdings in a deal valued at $1.375 billion, including assumed debt. The acquisition, confirmed on Thursday, April 10, marks a significant consolidation in Italy’s luxury fashion landscape and strengthens Prada’s position in a market traditionally dominated by French giants. The…
Nigeria’s external debt service obligations surged to $1.08 billion in Q4 2024, according to data from the Debt Management Office (DMO), as reported by Nairametrics. This marks a significant rise compared to the previous quarter, underscoring the growing strain on the nation’s debt profile. Earlier reports from the DMO showed that Nigeria’s total debt servicing…
Nigeria’s total public debt increased to N144.67 trillion ($94.23 billion) as of December 31, 2024, marking a significant 48.58% rise from the N97.34 trillion ($108.23 billion) recorded at the end of December 2023. This was revealed in the latest report on the nation’s debt profile, released by the Debt Management Office (DMO) on Friday,…
The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has voiced concerns over the new tariffs imposed by the United States, warning that these, along with earlier tariffs introduced earlier this year, could result in a 1% contraction in global merchandise trade volumes in 2025. “I’m deeply concerned about this decline and the potential…
The Federal High Court in Abuja has set a date for judgment in the lawsuit filed by MultiChoice Nigeria Limited against the Federal Competition and Consumer Protection Commission (FCCPC). Justice James Kolawole Omotosho scheduled the judgment for May 8, after the parties involved presented and argued their written addresses during the hearing on Thursday.…
The Trans-Niger Pipeline (TNP) in the Bodo community, located in the Gokana local government area of Rivers State, has resumed operations after a fire broke out on Monday night, February 17. The fire occurred on a segment of the pipeline along the Bodo-Bonny road, with videos circulating on social media showing flames reaching into the…
