By Esther Ososanya Brazil's $2 trillion economy is proving far more resilient than expected in the face of President Donald Trump’s sweeping 50% tariff on Brazilian imports to the United States. Thanks to limited trade exposure to the U.S., strong commodity demand from China, and broad exemptions from the new tariff, analysts and investors are …
By Esther Ososanya U.S. President Donald Trump has granted Mexico a crucial 90-day reprieve from sweeping new tariffs, offering a temporary lifeline for one of America’s biggest trading partners while ramping up pressure on other countries to strike last-minute deals ahead of a new trade deadline. The extension announced after a Thursday morning call between …
By Esther Ososanya Eighteen European Union countries have applied for loans worth over €127 billion ($147 billion) from a new defence fund. The European Commission confirmed the applications on Wednesday. The fund, called Security Action for Europe, aims to boost military spending and reduce dependence on outside forces. The high demand means the Commission will …
By Esther Ososanya In the heart of Petropavlovsk-Kamchatsky, Russian medics were performing a delicate surgery when the ground suddenly trembled beneath them during Wednesday’s massive 8.8 magnitude earthquake off Russia’s Far East coast. Despite the powerful tremor shaking their tools and threatening their stability, the surgical team remained composed. According to CCTV footage shared by …
By Esther Ososanya Italy has summoned Russia’s ambassador after President Sergio Mattarella was named in a list of so-called “Russophobes” published by Moscow, escalating diplomatic tensions between the two nations. On July 24, the Russian Foreign Ministry released a compilation of remarks by Western officials allegedly inciting anti-Russian sentiment. Mattarella was cited for a February …
By Esther Ososanya U.S. President Donald Trump on Wednesday imposed a 25% tariff on all goods imported from India, effective August 1, citing the country’s “unfair trade barriers” and continued defence and energy ties with Russia. The announcement was made via a post on Trump’s Truth Social account, where he also warned of an additional, …
By Esther Ososanya President Donald Trump has renewed pressure on the Federal Reserve to slash interest rates following a stronger-than-expected 3% growth in U.S. GDP for the second quarter. “2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! ‘Too Late’ MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes!” Trump …
By Esther Ososanya Mexico’s economy expanded by 0.7% in the second quarter of 2025 compared to the previous quarter, surpassing market expectations of 0.4%, according to preliminary data from the national statistics agency, INEGI. The better-than-expected performance was driven by a 0.8% increase in manufacturing and a 0.7% rise in services, which helped offset a …
By Esther Ososanya A powerful 8.8-magnitude earthquake off Russia’s Kamchatka Peninsula sent tsunami waves sweeping across the Pacific on Wednesday, disrupting maritime trade, halting port operations, and triggering emergency alerts as far as Hawaii, Japan, and California. The quake, the region’s strongest since 1952, rattled global logistics chains already grappling with inflation and fuel volatility. …
By Esther Ososanya The number of Americans applying for new unemployment benefits fell unexpectedly last week, providing fresh evidence that the U.S. labour market remains resilient, even as job growth cools and businesses grow more hesitant about hiring. Initial jobless claims dropped by 4,000 to a seasonally adjusted 217,000 for the week ending July 19, …
