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Oil prices fall as Trump pauses Hormuz naval escort

Oil prices slipped on Wednesday after President Donald Trump said the United States would temporarily pause its naval escort operations in the Strait of Hormuz, raising expectations of a possible breakthrough in talks with Iran. Brent crude futures for July delivery fell 1.21 per cent to $108.54 per barrel, while West Texas Intermediate dropped 1.76 […]

Samsung blames US AI chip sanctions for profit slump, shares dip
Tech

Samsung surpasses $1tn valuation as AI boom drives rally

Shares of Samsung Electronics jumped over 15 per cent on Wednesday, lifting the chipmaker’s market value above $1 trillion as investors continued to rush into artificial intelligence-related stocks. Samsung becomes the second Asian firm to surpass the $1 trillion valuation milestone, following TSMC. According to FactSet data, the company first reached that level on February […]

Hundreds of passengers stranded as Lufthansa pilot diverts Lagos-bound flight
Aviation

Lufthansa faces €1.7bn fuel cost surge amid Middle East conflict

Germany’s largest airline, Lufthansa, has reported that it is facing about €1.7 billion (nearly $2 billion) in additional fuel costs, as the ongoing Middle East conflict creates what it described as “enormous challenges.” In its first-quarter earnings released on Wednesday, the airline said it has hedged 80 per cent of its jet fuel requirements but […]

Aviation

IATA report sparks concerns over cost of flying in Nigeria

The recent classification of Nigeria by the International Air Transport Association as a country with aviation charges above global averages has revived debate within the industry, placing renewed focus on the cost of air travel in Africa’s largest economy. In response, the Federal Airports Authority of Nigeria said while the assessment contains elements of truth, […]

Emirates to resume Nigerian flights Sept 11
Aviation

Emirates restores 96% of flight operation after Middle East disruptions

Following disruptions triggered by the recent Middle East conflict, which grounded hundreds of aircraft, global carrier Emirates has staged a strong operational rebound, restoring 96 per cent of its flight network and signalling renewed stability across international air routes. The airline, which had scaled back operations at the peak of the crisis, said it has […]

Business

UK court freezes $40m assets of Nigerian oil tycoon Abdulrahman Bashar

The High Court of Justice in London has granted a post-judgment worldwide freezing order against Nigerian businessman Abdulrahman Musa Bashar and his Dubai-based company, Ultimate Oil & Gas FZCO. The order, issued on March 30, 2026 by Justice Bryan, freezes assets valued at approximately $40.2 million linked to the Rahamaniyya Group chairman. It is intended […]

UK job vacancies drop 23%, signaling economic slowdown
Business

UK mortgage affordability hits 18-year high as repayments exceed income threshold

United Kingdom homebuyers are experiencing the toughest mortgage affordability pressures in nearly two decades, though the impact varies widely across the country, according to industry data. UK Finance, the banking trade body, said that in 2025, initial mortgage repayments typically accounted for more than a fifth (21.3 per cent) of a buyer’s gross income nationwide, […]

Tech

Google employees vote to unionise over US Military AI deal concerns

Employees working on Google DeepMind artificial intelligence projects in the United Kingdom have voted to unionise, citing concerns over a newly announced partnership between Google and the United States military. In a letter set to be delivered to management on Tuesday, staff at the AI research lab called for formal recognition of the Communication Workers […]

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