Business

Yen Rally Puts Global Stocks on Watch for Carry Trade Unwind

The yen’s surge is putting the carry trade back in focus, raising questions about whether a bigger unwind could dent the rally in global stocks.

Chubu Electric retail subsidiary mistakenly overcharged 5 million customers

The company plans to refund the excess charges but has not yet determined the timing and method.

Bearish Bets Build in Short India Bonds as Cash Drain Looms

Bets against India’s short-term bonds are rising, with traders wagering that yields will go up on the central bank’s efforts to drain excess cash from the banking system.

Chinese AI labs secretly used millions of Claude exchanges to train their models, Anthropic says

Anthropic said it detected unauthorized efforts by China-based AI labs including Alibaba and Moonshot AI to use its Claude models to help improve their own AI systems.

Global bonds fall as surging oil prices inflame inflation risks

Global bonds buckle as surging oil prices inflame inflation risks

Bessent says 'a large bank' will be sanctioned on Monday as part of Iran strategy

U.S. Treasury Secretary Scott Bessent said that a large bank would be sanctioned next week.

Dangote refinery discloses 14 suits, N295bn claims

Dangote refinery reveals it is facing 14 lawsuits with claims totalling N295bn, as disclosed in its recent Initial Public Offering (IPO) prospectus. Read More: https://punchng.com/dangote-refinery-discloses-14-suits-n295bn-claims/

No Nigerian airline made $1m profit, Onyema declares

Air Peace Chairman Allen Onyema reveals that no Nigerian airline has made a $1m annual profit due to high taxes and operating costs. Read more. Read More: https://punchng.com/no-nigerian-airline-made-1m-profit-onyema-declares/

Oil output drops 5,000bpd in August amid recovery

Nigeria’s oil output fell by 5,000 barrels per day in August, the second straight monthly decline, according to OPEC’s latest report. Read more on the data Read More: https://punchng.com/oil-output-drops-5000bpd-in-august-amid-recovery/

Dangote IPO: Rewane projects $600bn as IPMAN backs refinery

The Independent Petroleum Marketers Association of Nigeria has urged its members nationwide to invest in the planned Initial Public Offering of the Dangote Petroleum Refinery, as Financial Derivatives Company Chief Executive Officer…

OpenAI Is Open to Slowing Cutting-Edge AI, CEO Sam Altman Tells Staff

OpenAI is considering slowing down the development of cutting-edge artificial intelligence, and the ChatGPT maker’s Chief Executive Officer Sam Altman is hoping that other AI companies will do the same.