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Calls grow from Fed officials to 'skip' a rate hike
Calls grow from Fed officials to 'skip' a rate hike
Business and Economy
by  AFP

Two senior Federal Reserve officials indicated Wednesday that they may support skipping an interest-rate hike in June to give the Fed more time to assess the health of the US economy. - 'Skip' don't 'pause' - While there has been broad agreement over previous rate hikes, Fed officials are now publicly divided on the best path forward at the next FOMC meeting on June 13-14.

Nvidia, the world's newest, AI-amped tech giant
Nvidia, the world's newest, AI-amped tech giant
Business and Economy
by  AFP

Nvidia, a chip technology company, became a trillion dollar enterprise this week and the world’s newest tech giant. Based in California, Nvidia doesn't actually make its own chips, but rather designs them and then outsources the manufacturing to other companies, most notably Taiwan Semiconductor Manufacturing Company.

Petrol prices surge in Nigeria after subsidy move
Petrol prices surge in Nigeria after subsidy move
Business and Economy
by  AFP

The price of petrol in Nigeria tripled at government-run stations on Wednesday, two days after newly-elected President Bola Tinubu announced he would scrap fuel subsidies in his first move after taking office. But prices at government-owned gas stations surged on Wednesday from about 190 to 540 naira ($0.4 to $1.2) per litre, suggesting that the subsidies had already scrapped.