Japanese multinational investment holding firm SoftBank, and American tech companies OpenAI and Oracle have announced a partnership to establish a $500 billion AI data center company. On Wednesday, Masayoshi Son, CEO of SoftBank, Sam Altman, CEO of OpenAI, and Larry Ellison, CEO of Oracle, joined Donald Trump at a White House press briefing to unveil…
The Nigerian currency, the naira, continued to react negatively to the assumption of office of Donald Trump as the 47th President of the United States by depreciating marginally against the dollar at both the official window and parallel market on Tuesday, January 21, 2025. FMDQ data showed that the naira depreciated to N1,552.78/$1 on Tuesday,…
EcoBank Nigeria, its parent companies and leadership are facing a legal suit in the United Arab Emirates (UAE) on allegations of defamation, abusive proceedings and coercion in Nigeria. The $68 million legal claim in the UAE was filed against Jeremy Awori, CEO of Ecobank Transnational Inc (ETI); ETI Specialized Resolutions Company (ETISRC); Ecobank Nigeria (ENG);…
HOSTAFRICA, a leading web-hosting company in Africa, is excited to announce the successful completion of the acquisition of GO54 (formerly known as WhoGoHost). GO54 is one of Nigeria’s most prominent web hosting companies with a domain market share of over 20%. This marks a significant milestone in HOSTAFRICA’s strategic expansion across the continent. It solidifies…
American Express has agreed to pay $230 million to resolve federal allegations of deceptive marketing practices and civil fraud, the U.S. Department of Justice (DOJ) announced Thursday. The settlement includes a $108 million civil penalty for alleged violations of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA). Additionally, the company has entered a non-prosecution…
By Alexander Sturm and Jörn Bender, dpa Berlin, Germany – The German inflation rate climbed to 2.6% in December compared to the same month of the previous year, official figures showed on Monday, with consumer prices rising by an average of 2.2% over the whole of 2024.The data from the Federal Statistical Office suggests further…
