Category: World

Paramount Skydance has emerged as the probable victor in a high-stakes contest to acquire Warner Bros Discovery, as streaming giant Netflix declined to increase its offer, effectively withdrawing from the pursuit and handing momentum to its rival. Paramount’s revised proposal of $31 per share in cash and commitment to cover substantial termination and regulatory fees was judged superior by the Warner Bros Discovery board, setting the stage for a deal valued at roughly $111 billion, though regulatory hurdles remain. This

Smartphone shipments across Africa expanded significantly in 2025, with the continent receiving 84.4 million units over the course of the year, marking a 13 per cent year-on-year increase according to market analytics firm Omdia. This performance outpaced many global markets and reflected a phase of recovery and transition as mobile users increasingly adopt smart devices over basic handsets. Fourth-quarter data showed shipments rising 14 per cent to 23.1 million units, underpinned by broader device financing schemes, improved currency stability in

Ellah Lakes Plc, the Lagos-listed agro-industrial group, confirmed its bid to raise up to ₦235 billion through a public offer for subscription did not reach the minimum subscription threshold required to proceed with share allotment, leading to a full refund of investor funds. The offer, which targeted up to 18.8 billion ordinary shares priced at ₦12.50 each, opened in November and closed in December but failed to attract sufficient subscriptions to meet regulatory standards for allotment. As a result, the

A ship widely reported to be carrying Russian-sourced oil to Cuba altered its course and pulled away from its planned voyage, underscoring a deepening energy crisis on the Caribbean island that has disrupted daily life and public services. The vessel, identified by maritime intelligence firms as the Sea Horse and believed to be laden with nearly 200,000 barrels of gasoil, a diesel-type fuel essential for transport and electricity generation, was last tracked drifting in the North Atlantic after abandoning its

Diplomats from Iran and the United States are preparing to examine a detailed framework for a possible agreement in Geneva, as both sides signal cautious openness to narrowing differences over sanctions relief and nuclear restrictions. The discussions come amid renewed diplomatic activity between Tehran and Washington, with officials framing the meeting as a substantive step rather than a symbolic encounter.Iran’s Foreign Minister Abbas Araghchi departed Tehran on Wednesday evening for Geneva to take part in the negotiations, according to state

Bill Gates apologised to employees of the Gates Foundation for his past meetings with convicted sex offender Jeffrey Epstein, telling staff he “took responsibility for his actions” while maintaining he saw nothing illicit during their interactions.A spokesperson for the philanthropic organisation confirmed that Gates addressed the issue during a town hall meeting, acknowledging that his association with Epstein had caused harm to the foundation’s reputation and distress among staff. The spokesperson said Gates expressed regret for the judgment that led

UAE and Czech Republic have stepped up efforts to widen economic cooperation across advanced manufacturing, clean energy and digital industries, with ministers from both countries reviewing a slate of joint projects targeted for rollout in 2026.Talks between UAE Minister of Economy Abdulla bin Touq Al Marri and Czech Minister of Industry and Trade Jozef Síkela focused on expanding collaboration in sectors described as central to the “new economy”, including artificial intelligence, fintech, smart mobility, aerospace and sustainable technologies. Officials said

Wayve has secured more than $1bn in fresh capital as it accelerates plans to bring fully autonomous vehicles to public roads in Britain, marking one of the largest single funding rounds for a European artificial intelligence company.The London-based start-up said it had raised $1.05bn in a round led by Japan’s SoftBank Group, with participation from Nvidia and Microsoft. The deal values the company at about $11bn, underlining investor confidence in its data-driven approach to self-driving technology and in the UK’s

Paramount Skydance has raised its takeover offer for Warner Bros. Discovery to $31 per share, putting its bid in direct contention with Netflix and prompting the Hollywood giant’s board to reopen talks that could reshape the media landscape. Warner Bros. Discovery said it was reviewing Paramount’s enhanced proposal, which includes a higher regulatory termination fee and other financial incentives, even as it continues to recommend the existing Netflix deal to shareholders.Paramount’s new proposal increases its previous all-cash offer by $1

Nigerian banks are entering 2026 with firmer balance sheets and improved capital buffers, positioning the sector for expansion as regulatory deadlines draw closer. Analysts at Lagos-based investment banking and research firm Chapel Hill Denham say the industry’s strengthened fundamentals provide a platform for earnings growth, credit expansion and renewed investor confidence.At the centre of this shift is the Central Bank of Nigeria’s recapitalisation directive, announced in 2024, which requires commercial banks to raise fresh capital by 31 March 2026. The

A magnitude 5.7 earthquake struck off the coast of West Papua province in Indonesia on Tuesday, recording a shallow depth that had authorities monitoring a broad swath of Papua’s coastal communities for shaking effects, according to seismic data from international observatories. The German Research Centre for Geosciences and seismic networks reported the tremor’s epicentre in the Ceram Sea region of West Papua, with a hypocentral depth of about 10 kilometres, a level that can amplify ground motion over surrounding areas.

Storm-related travel bans, widespread flight cancellations and severe blizzard conditions have thrown daily life into disarray across large swathes of the northeastern United States, disrupting transportation networks and leaving hundreds of thousands without power. Authorities in major cities including New York enforced bans on non-essential road travel, while some states declared states of emergency as heavy snow and fierce winds battered the densely populated East Coast.New York Mayor Zohran Mamdani imposed a travel ban allowing only essential vehicles on

Britain’s much-trumpeted trade understanding with Washington is under mounting strain after a United States Supreme Court ruling curtailed key elements of President Donald Trump’s tariff authority, raising the prospect that the UK could emerge as one of the most exposed partners in a rapidly changing trade order.For months, ministers in London had pointed to preferential access secured under a revised bilateral framework with the White House, arguing that the UK’s post-Brexit agility had delivered advantages unavailable to the European Union.

More than 40 million people across the eastern United States were under blizzard warnings as a powerful winter storm pushed towards the Atlantic seaboard on Sunday, threatening to dump up to two feet of snow and unleash fierce winds from the Mid-Atlantic to New England.Forecasters warned that the system, driven by a rapidly intensifying low-pressure area offshore, could rank among the most significant winter storms to hit parts of the Northeast in nearly a decade. Blizzard warnings covered New York

Hungary has threatened to block the European Union’s 20th package of sanctions against Russia, escalating tensions within the bloc as Budapest links its support to the resumption of Russian oil deliveries. The warning underscores deep divisions in Brussels over how far to push punitive measures against Moscow while safeguarding member states’ energy security.Prime Minister Viktor Orbán’s government has indicated it could withhold approval for fresh restrictions unless oil flows via the Druzhba pipeline are restored. Hungary relies heavily on Russian

Greenland’s prime minister Jens-Frederik Nielsen publicly declined U. S. President Donald Trump’s offer to dispatch a hospital ship to the Arctic territory, saying the autonomous Danish island has an established public healthcare system that provides free treatment to its citizens. Nielsen’s response, posted on social media, underscored both the sufficiency of Greenland’s existing medical infrastructure and the expectation that international dialogue be carried out through formal diplomatic channels rather than informal declarations.Trump’s announcement on his Truth Social platform framed

Urban smog and industrial emissions are amplifying the intensity of fire tornadoes in major wildfire zones, with scientists warning that polluted air is contributing to atmospheric conditions that favour the formation of violent, spinning columns of flame.Fire tornadoes, or “fire whirls”, arise when intense heat from large blazes interacts with unstable air, generating rotating updrafts that can stretch hundreds of metres high. While such phenomena have been documented for decades, researchers say their frequency and scale are increasing in tandem

Copper prices edged higher on Friday but remained on course for a third consecutive weekly decline, as a firmer US dollar and persistent concerns over global demand continued to weigh on sentiment across industrial metals markets.Benchmark three-month copper on the London Metal Exchange climbed during morning trade, recovering from earlier losses as short-covering set in ahead of the weekend. Despite the rebound, prices have retreated over the week, pressured by currency movements and cautious positioning by investors assessing the outlook

United States import tariffs have largely been paid by domestic businesses and households rather than foreign exporters, according to a growing body of economic research, sharpening debate in Washington over the long-term costs of trade protection.Studies by Federal Reserve economists and leading academic institutions show that the bulk of duties imposed during the trade disputes of the past decade were passed through to American importers in the form of higher prices. While the political argument has often framed tariffs as