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Nigeria union strike shuts power grid, schools, disrupts flights
Nigeria union strike shuts power grid, schools, disrupts flights
by  AFP

Nigerian labour unions shut down the national power grid and disrupted flights Monday as they began an indefinite strike that closed schools and public offices after failing to strike a new minimum wage deal with the government. In the northern city of Kano, government offices and public schools were closed.

Canadian investment group buys French club Saint-Etienne
Canadian investment group buys French club Saint-Etienne
by  AFP

Canadian investment group Kilmer Sports Ventures (KSV) have acquired former French footballing giants Saint-Etienne on Monday a day after the club returned to Ligue 1. KSV is part of Kilmer Group, a Toronto-based firm specialising in private equity, real estate, sports and media.

Microsoft to invest $3.2 bn in AI in Sweden
Microsoft to invest $3.2 bn in AI in Sweden
by  AFP

Microsoft said Monday that it would invest 33.7 billion kronor ($3.2 billion) over two years in cloud and artificial intelligence infrastructure in Sweden, its biggest investment in the country.

Turkish inflation exceeds 75% but peak in sight
Turkish inflation exceeds 75% but peak in sight
by  AFP

Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living crisis that has dogged President Recep Tayyip Erdogan. Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.

Airlines eye 'new frontier' of AI ahead of global summit
Airlines eye 'new frontier' of AI ahead of global summit
by  AFP

Airlines may not be replacing pilots with artificial intelligence anytime soon, but aviation industry experts say the new technology is already revolutionising the way they do business. AI is "undoubtedly a new frontier, in that it's an extraordinary acceleration of technology and capabilities," said Geoffrey Weston, the head consultant on the airline industry at US-based firm Bain & Company.

ECB to start rate cuts but sticky inflation clouds path ahead
ECB to start rate cuts but sticky inflation clouds path ahead
by  AFP

The European Central Bank is expected to begin cutting eurozone interest rates from historic highs this week, but sticky inflation means the move is unlikely to kickstart a rapid easing cycle. The central bank will also release its own updated forecasts for growth and inflation on Thursday, which will feed into rate-setters' debate about their next move.