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☆ European stocks head for mixed open as Wall Street rally takes a breather
▼ + stars: | 2024-03-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a lackluster open Tuesday as investors continue to ponder last week's central bank policy decisions in Europe and the U.S. Regional markets had a tentative start to the new trading week Monday and the lack of momentum looks set to continue Tuesday. Today, investors in Europe, the Middle East and Africa will be keeping an eye out as Nigeria's central bank publishes its latest monetary policy decision, and as earnings come from Smiths Group, Ocado Retail, Bellway and A.G. Barr. Asia-Pacific markets were mixed Tuesday as the U.S. market took a breather after a rally sparked by optimism over the Federal Reserve's interest rate stance at its latest meeting. U.S. stock futures traded near the flatline Monday night, after the major averages took a breather from their rally.

Organizations: U.S . Regional, Smiths Group, Ocado, Federal Locations: Europe, East, Africa, Barr, Asia, Pacific, U.S

☆ Nigeria's central bank hikes interest rate to 24.75% as it battles sky-high inflation, currency crisis
▼ + stars: | 2024-03-26 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced that its main monetary policy rate would rise to 24.75% from 22.75%, in its second consecutive hike after February's 400 basis point increase. Governor Olayemi Cardoso told a press conference that policymakers believed they need to continue tightening in order to tame runaway inflation, according to Reuters. "That may be a sign that some MPC members are concerned about the impact on growth from tighter monetary policy," he suggested in a note on Tuesday. Capital Economics expects further tightening, given Governor Cardoso's need to bring down the curtain on the country's inflation and currency crises.

Persons: Olayemi Cardoso, David Omojomolo, Cardoso's Organizations: Central Bank of Nigeria, CBN, Reuters, Capital Economics, MPC Locations: Africa

☆ Binance crypto exec reportedly on the run after busting out of custody in Nigeria
▼ + stars: | 2024-03-25 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Nadeem Anjarwalla escaped police custody in Nigeria on Friday, Binance said. Nigeria charged Binance, Anjarwalla, and another employee of the crypto exchange with tax evasion. AdvertisementA Binance executive is reportedly on the run after busting out of police custody in Nigeria on Friday. "We were made aware that Nadeem is no longer in Nigerian custody," a Binance representative told Business Insider on Monday. On Monday, Nigeria's Federal Inland Revenue Service said it was charging Binance, Anjarwalla, and Gambaryan with tax evasion.

Persons: Nadeem Anjarwalla, Binance, —, Nadeem, didn't, Bayo Onanuga, Anjarwalla, Tigran Gambaryan, They'd Organizations: Service, Nigeria's Premium Times, Bloomberg, Nigeria's Federal Inland Revenue Service Locations: Nigeria, Africa, Abuja

And perhaps best of all, money — from selling the electricity generated by the wind turbines studding the flat green fields stretching out to the North Sea. A slice of the cash goes to the villagers themselves, with the local buy-in making this windy farming enclave near the border with Denmark a showcase for ways to push ahead with renewable energy projects. The S&P Global Clean Energy Index of shares in companies with clean energy-related businesses has fallen 26% over the past year, even as broader market indexes have surged to records. In sub-Saharan Africa, where half the population lacks access to electricity, renewable projects face even steeper challenges with financing. In Nigeria, where blackouts are an everyday event for about half of the country’s 213 million people, some 14 solar projects have stalled because the finances don’t add up.

Persons: ”, Astrid Nissen, moos, “, Mackenzie, it's, Nissen, Christian Andresen, Andresen, Orsted, Vattenfall, David Shepheard, Edu Okeke, Taiwo Organizations: U.S . Federal Reserve, European Central Bank, University College London, Solar, Energie Andresen GmbH, Energy, logjams, World Bank Locations: SPRAKEBUELL, Germany, Denmark, village's, Spain, Italy, Africa, Flensburg, Sprakebuell's, German, Danish, New Jersey, Swedish, North American, Saharan Africa, Nigeria, Katsina, Abuja

Binance faces charges of alleged non-payment of Value-Added Tax (VAT) and company income tax, failure to submit tax returns and complicity in aiding customers to evade taxes through its platform, the reports said. Alongside the company, two senior executives — U.S. citizen Tigran Gambaryan and British-Kenyan Nadeem Anjarwalla — were both charged and remanded in custody by Nigerian authorities. "We were made aware that Nadeem is no longer in Nigerian custody. Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue," a Binance spokesperson told CNBC. watch nowThe families of the two employees declined to comment at this time, but issued statements on March 20, following a hearing at which Nigerian authorities extended their detainment.

Persons: Budrul Chukrut, Tigran Gambaryan, Nadeem Anjarwalla —, Anjarwalla, Nadeem, Anjarwalla's, Elahe Anjarwalla, Tigran, Binance, Yuki, Samuel Alabi Organizations: Getty, Federal Inland Revenue Service, Federal High Court, —, CNBC, British, U.S ., Locals, Abuja, Afp Locations: Nigeria, Abuja, British, Binance, Nigerian, IBADAN, Ibadan

☆ Opinion: Why a booming economy isn’t helping Biden
▼ + stars: | 2024-03-24 | by ( Fareed Zakaria | ) edition.cnn.com time to read: +9 min

It used to be that the public’s view of the president depended mostly on its view of the economy. Democrats who had previously thought the economy was in terrible shape now thought it was booming, and Republicans did the opposite. I argue in the book that it is identity — which encompasses culture, class and tribalism. And when people see their world in flux, they often move not left on economics but right on culture. The left needs to play more effectively on the new crossroads of politics, where culture and class have replaced economics.

Persons: Fareed Zakaria, Fareed, Read, Joe Biden’s, haywire, It’s, Nate Cohn, Barack Obama’s, Donald Trump, ’, Trump, Ronald Inglehart, —, Inglehart, John Burn, “ Organizations: CNN, Fareed’s, The New York Times, Immigration, Trump Locations: America, Sweden, Denmark, France, Austria, Germany, Japan, United States, Nigeria

☆ Nearly 300 abducted schoolchildren released by gunmen in Nigeria, governor says
▼ + stars: | 2024-03-24 | by ( Sophie Jeong | Heather Chen | ) edition.cnn.com time to read: +1 min

CNN —Nearly 300 schoolchildren kidnapped in Nigeria earlier this month have been released, the governor of the country’s Kaduna state said in a post on X on Sunday. “The abducted Kuriga school children are released unharmed,” Uba Sani said, without providing further details. Some students were rescued but 287 of them had remained with the kidnappers – around 100 were from primary school and the rest from secondary school. Kaduna state, which borders the Nigerian capital Abuja to the southwest, has grappled with recurring incidents of kidnappings for ransom by bandits and has witnessed several mass abductions in recent years. This is a developing story and will be updated.

Persons: “, ” Uba Sani, Sani, Bola Tinubu, ”, Mansur Hassan, Nuhu Ribadu, ” Sani, Mariya Knight Organizations: CNN, Secondary School, country’s National, Nigerian Army Locations: Nigeria, Kaduna, Kuriga, Kaduna’s Chikun, Abuja, Princewill

☆ The cocoa market is so hot that the commodity has crushed bitcoin's 150% gain in the last year
▼ + stars: | 2024-03-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Cocoa prices are hovering near historic highs around $8,000 per metric ton. The chocolate commodity has outperformed bitcoin in the last year, gaining more than 200%. A bad harvest and lack of investment have sent cocoa prices higher over recent months. Related storiesRoughly three-fourths of the world's cocoa, per Bloomberg, comes from four countries in West Africa: Ivory Coast, Ghana, Cameroon, and Nigeria. Last month, chocolate giants Hershey and Cadbury both warned of potential price hikes for consumers in light of the cocoa supply shortage.

Persons: —, that's Organizations: Service, Bloomberg, Processors, Reuters, International Cocoa Organization, Hershey, Cadbury Locations: West Africa, Ivory Coast, Ghana, Cameroon, Nigeria

☆ From Russia, Elaborate Tales of Fake Journalists
▼ + stars: | 2024-03-18 | by ( Steven Lee Myers | ) www.nytimes.com time to read: +1 min

A young man calling himself Mohamed al-Alawi appeared in a YouTube video in August. Still, his story caromed through social media and news outlets from Egypt to Nigeria and ultimately to Russia — which, according to researchers, is where the story all began. Four months later, two new videos appeared on YouTube. They said Mohamed al-Alawi had been beaten to death in Hurghada, a town about 20 miles south of El Gouna. The suspected killers, according to the videos: Ukraine’s secret service agents.

Persons: Mohamed al, Alawi, Angelina Jolie’s, Still Organizations: YouTube Locations: Egypt, Angelina, El Gouna, Ukraine, Nigeria, Russia, Hurghada, El

☆ Photographer Kate T. Parker’s new book lets these cool kids shine
▼ + stars: | 2024-03-16 | by ( Photos | Text Essay Kate T. Parker | ) edition.cnn.com time to read: +8 min

Perhaps the thing I find most inspiring about these kids is their commitment to inclusivity and diversity and simply being nice to each other. And no, the irony of a nonspeaking autistic encouraging you to use your voice is not lost on me. Kate T. Parker“My twin brother wrestled, and I asked my dad if I could do it too,” CG said. Kate T. ParkerSunny wants trans kids in the future not to have to fight like her. Kate T. ParkerJai is part of Brown Girls Do Ballet, which increases representation of underrepresented populations in ballet.

Persons: ”, Zoe, Lindsey, Elizabeth, Kate T, Parker “, “, ” Zoe, ” Sunny, Parker Sunny, I’d, it’s, ” Mistura, ” Elizabeth, Parker Elizabeth, ” Jai, Jai, Parker Jai, ” Regan, Regan, Parker Regan, Emerson, ” Lindsey, Parker, Donald Trump, Biden, Parker Sydney, It’s, There’s Organizations: CNN, “ Force, US Department of, Brown, Ballet Locations: Texas, Nigeria, Sydney

☆ Drones have turned the tables in recent African wars
▼ + stars: | 2024-03-16 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Drones recently supplied to Sudan by Iran are already making an impact in that country's brutal civil war. Similar types of drones played decisive roles in turning the tables in two previous African civil wars in recent years and could do so again. "It should come as no surprise that these drones are being used in wars around the world," Rogers told BI. In this context, drones are useful to achieve specific objectives, but they will not win the war alone," Rogers said. RANE's Dodd also credited Ethiopia's drone procurements for decisively "turning the tide" of the Tigray War.

Persons: —, Remi Dodd, RANE, it's, Dodd, James Patton Rogers, Rogers, Turkey's TB2, Loong, Debretsion Gebremichael, RANE's Dodd Organizations: Service, Business, Sudanese Armed Forces, Rapid Support Forces, United, Ethiopian, Tigray, Libyan National Army, Cornell Brooks Tech, Institute, Cornell University, American Warfare, Anadolu, Getty, Democratic Locations: Sudan, Iran, Iranian, Turkey, United Arab Emirates, Ethiopia, Libya, Tripoli, Omdurman, Tehran, Red, Yemen, Ukraine, Tigray War, Tigray, Addis Ababa, Ukrainian, New York, Donetsk, Nigeria, DRC, Democratic Republic of Congo, Burkina Faso

☆ Shell waters down 2030 carbon emissions target in latest fossil fuel industry backslide
▼ + stars: | 2024-03-14 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Fossil fuels are the main driver of the human-caused climate crisis, and science shows deep, sustained reductions to emissions are required this decade. In an annual update on its energy transition strategy on Thursday, Shell said it will target a 15-20% reduction in net carbon intensity of its energy products by 2030 compared with 2016 intensity levels. Measuring emissions by intensity means a company can technically increase its fossil fuel output and overall emissions while using offsets or adding renewable energy or biofuels to its product mix. The company retired a previous target to reduce its carbon intensity by 45% by 2035. Shell also maintained its target to halve emissions from its own operations, known as Scope 1 and 2 emissions, by 2030, saying it had already achieved more than 60% of that target.

Persons: Shell, Wael Sawan’s, “, ”, Backtrack, Mark van Baal, ” Shell Organizations: CNN Locations: “, Paris, Singapore, Germany

☆ Gunmen who kidnapped 287 school children in Nigeria say they will kill them all if $622,000 ransom not paid
▼ + stars: | 2024-03-13 | by ( Nimi Princewill | ) edition.cnn.com time to read: +2 min

Abuja, Nigeria CNN —Gunmen who kidnapped at least 287 school children in Nigeria last Thursday have demanded a ransom of 1 billion naira ($621,848) and threatened to kill all of the students if their demands are not met, a member of the local community told CNN on Wednesday. About 100 of them are from the primary school and the rest from the secondary school. In 2021, at least 140 students were kidnapped by armed men from a private secondary school. The incident came just months after around 20 students from a private university in Chikun’s Kasarami village were abducted by gunmen. Five of those students were killed after a ransom deadline was not met, family members told CNN at the time.

Persons: Nigeria CNN — Gunmen, “, ”, Aminu Jibril, Jibril, Mansur Hassan, Uba Sani, ” Sani Organizations: Nigeria CNN —, CNN, Secondary School Locations: Abuja, Nigeria, Kuriga, Kaduna, Kaduna’s Chikun, Chikun’s Kasarami

☆ Binance staff detained in Nigeria as country claims crypto investments are devaluing its currency
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance staff detained in Nigeria as country claims crypto investments are devaluing its currencyHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: CNBC Locations: Nigeria

“If you have minerals or oil under the ground, how do you come up with a price for a long-term contract? The shift to renewable energy and electric vehicles has caused a spike in the demand for critical minerals, driving these kind of loans. Adesina, whose Abidjan, Ivory Coast-based institution helps finance development in African countries, said these arrangements come with a litany of problems. Photos You Should See View All 60 Images“These are the reasons I say Africa should put an end to natural resource-backed loans," Adesina said. After Chad, Angola and the Republic of Congo approached the IMF for support, the multilateral lender insisted on the renegotiation of their natural resource-backed loans.

Persons: Akinwumi Adesina, paydowns, Adesina, ” Adesina, Glencore, Trafigura, ”, Mao Ning Organizations: African Development Bank, Associated Press, International Monetary Fund, IMF, Chartered, China’s Ministry of Foreign Affairs, China Railway Group, Gecamines, Alliance for Green Infrastructure Locations: Lagos, NIGERIA, China, Congo, Nigeria, Abidjan, Ivory Coast, Africa, Chad, Angola, Republic of Congo, Guinea, Ghana, Beijing, Nigerian, AP.org

☆ Nigerian Army Hunts for Kidnapped Students, Parents Seek Answers
▼ + stars: | 2024-03-11 | by ( March | At A.M. | ) www.usnews.com time to read: +3 min

The source said the army's Kaduna-based One Division was leading the operation and "will soon have the bandits in their sights". "The security agencies and the state government are working tirelessly to ensure the freedom of all the abducted students and pupils. We are making progress," said Muhammad Shehu Lawal, a spokesperson for Kaduna state governor, without giving details. Photos You Should See View All 60 ImagesThe mass kidnapping last Thursday, the first since July 2021, shattered the dusty town of Kuriga, 90 km from Kaduna state capital, with parents waiting for answers from authorities. According to Lagos-based consultancy SBM Intelligence 4,500 people have been kidnapped throughout Nigeria since Tinubu took office last May.

Persons: Garba Muhammad, Hamza Ibrahim, Muhammad Shehu Lawal, Bola Tinubu, Bala Ibrahim, Ibrahim, Tinubu, Ikemesit Effiong, MacDonald Dzirutwe, Angus MacSwan Organizations: Reuters, SBM Intelligence, Security Locations: Hamza Ibrahim KADUNA, Nigeria, Kaduna, Nigerian, Kuriga, Chibok, Borno, Niger, Birnin, Lagos

☆ The chef at London's Chishuru just won her first Michelin star. She started with a competition to open a pop-up restaurant.
▼ + stars: | 2024-03-10 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on an interview with the founder and chef of Chishuru, Joké Bakare, about pursuing her dream to open a restaurant. A year later, some friends spotted a competition run by Brixton Village in south London — they were offering the winner a three-month pop-up restaurant. In some ways, the Brixton restaurant was straightforward — it was a small site with just 18 covers inside and 14 outside. Harriet LangfordThe restaurant's success continued and in April 2022, Time Out named Chishuru as London's best restaurant. It's the food that my grandmother might have cooked, but with a London restaurant spin.

Persons: —, Joké, Covid, Jay Rayner, Matt Paice, Bakare, Harriet Langford, they'd, I've, We've, Cook, Chishuru Harriet Langford, It's Organizations: Service, Ahmadu Bello University, Business, Brixton, The Observer, Michelin, uda Locations: Kaduna, Nigeria, London —, Brixton, London, Matt, Chishuru

☆ Nigeria: At least 287 school children kidnapped by armed gunmen in northwestern Kaduna State
▼ + stars: | 2024-03-08 | by ( Nimi Princewill | ) edition.cnn.com time to read: +2 min

CNN —At least 287 school children, some as young as eight years old, are being held by gunmen who raided their school in Nigeria’s northwestern Kaduna State early Thursday, a police spokesperson told CNN Friday. Some of the students were rescued but 287 of them remain with the kidnappers, Hassan said. “Students were kidnapped from the school premises on Thursday morning around 8:00 am (local time). Governor of Kaduna state, Uba Sani said in a statement Thursday that his government was “doing everything possible to ensure the safe return of the pupils and students” kidnapped. In 2021, at least at least 140 students were kidnapped by armed men from a private secondary school.

Persons: Mansur Hassan said, Hassan, ” Hassan, Uba Sani, ”, Sani Organizations: CNN, Secondary School, “, Reuters, Washington Post, National Security, Security, Amnesty Locations: Nigeria’s, Kaduna State, Kuriga, Kaduna’s Chikun, Kaduna, Nigeria, Abuja, Chikun’s Kasarami

☆ Nigeria: Suspected insurgents kidnap 50 people in northeastern region
▼ + stars: | 2024-03-07 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Reuters —Suspected Islamist insurgents kidnapped 50 people, mostly women, in northeastern Nigeria this week, local officials and a resident said on Wednesday, the latest mass abduction by fighters who have waged an insurgency for more than a decade. They were ambushed by gunmen and made to walk across bushy paths into neighboring Chad, the official said, adding that three of the kidnapped women managed to escape. The Nigerian Army did not respond to a request for comment. Barkindo Saidu, head of Borno’s emergency agency, said he was traveling to the area to assess the situation but was not yet ready to declare the people missing. The agency is in charge of camps housing thousands of Nigerians displaced by the insurgency.

Persons: Reuters —, Boko, Falmata Bukar, Barkindo Saidu Organizations: Reuters, Civilian, Task Force, Nigerian Army Locations: Nigeria, Boko Haram, Islamic, West Africa Province, Borno, Chad, Cameroon, Lake Chad

☆ Binance to discontinue Nigerian currency services as legal squabble deepens
▼ + stars: | 2024-03-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Binance on Tuesday announced that it will discontinue all Nigerian naira services, amid an ongoing legal dispute between the U.S. cryptocurrency firm remains and Africa's most populous country. In an update posted on its website, Binance said that, starting this Friday, any remaining naira balances in user accounts will be automatically converted to Tether , a cryptocurrency stablecoin pegged to the U.S. dollar. The company will not support any deposits of Naira after 2 p.m. UTC on Tuesday and will no longer support withdrawals of the currency after 6 a.m. UTC on Friday, the announcement said. Nigeria is also one of the world's biggest crypto markets, but the Nigerian government has demanded almost $10 billion in compensation from Binance, which it accuses of manipulating foreign exchange rates via currency speculation and rate fixing, and arrested two of the firm's senior executives last week, according to multiple media reports. The Nigerian naira has lost almost 70% of its value over the past few months, as Africa's largest economy faces a currency crisis and soaring inflation.

Persons: Binance Organizations: U.S, U.S ., Nigerian Locations: Naira, Nigeria, Binance

☆ What Makes a Top Runway Model in 2024?
▼ + stars: | 2024-03-05 | by ( Elizabeth Paton | ) www.nytimes.com time to read: +1 min

There is one model who walked in more fashion shows than any other in 2023. Yilan Hua is from China. Ms. Hua, 24, is the leading face of a new generation of popular Chinese models that includes He Cong, Chu Wong and Ying Ouyang — despite a family death this season that kept her off the runway for much of Paris Fashion Week. So why is the industry so taken with her, and what does her ascent reflect about the importance of China to luxury fashion? “Yilan doesn’t necessarily embody the traditional beauty standards revered by Chinese audiences,” Ms. Zhang wrote in an email.

Persons: Yilan Hua, outpacing, América, Victoria Fawole, Chanel, Fendi, Michael Kors, Stella McCartney, Christian Dior, Hua, Chu Wong, Ying Ouyang —, Margaret Zhang, “, ” Ms, Zhang, ” Organizations: Cannes Film, Vogue, Vogue China Locations: China, Venezuela, Nigeria, Paris

☆ Nigeria battles to halt spiraling currency crisis and rising food insecurity
▼ + stars: | 2024-03-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

IBADAN, Nigeria - Feb. 19, 2024: Demonstrators hold placards during a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024. Inflation hit an annual 29.9% in January, driven by soaring food prices that have triggered a cost-of-living crisis in Africa's largest economy. The naira currency, meanwhile, plunged to an all-time low of around 1,600 against the U.S. dollar in late February. "With about 8 percent of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority." IBADAN, Nigeria - Feb. 19, 2024: Demonstrators are seen at a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024.

Persons: Samuel Alabi, Bola Tinubu's, David Omojomolo, Olayemi Cardoso Organizations: Afp, Getty Images, International Monetary Fund, U.S, Bloomberg, Getty, Washington, D.C, IMF, Central Bank of, Capital Economics Locations: IBADAN, Nigeria, Ibadan, Getty Images Nigeria, Africa's, LAGOS, Lagos, Africa

☆ William Troost-Ekong: Nigeria’s football captain on rollercoaster journey to the AFCON final
▼ + stars: | 2024-03-04 | by ( Callum Sutherland | Amanda Davies | ) edition.cnn.com time to read: +5 min

Only six months ago, the Super Eagles skipper had been considering walking away from international football entirely following disagreements with coach José Peseiro. “[It] resulted in us not actually speaking for a few months,” the defender told CNN World Sport’s Amanda Davies in a recent interview. Captain William Troost-Ekong (center, number 5) celebrates after scoring a penalty during Nigeria's AFCON semi-final match against South Africa on February 7, 2024. After dispatching a penalty in regular time, Troost-Ekong made no mistake during the subsequent shoot-out to help send his side into the final in Abidjan. Once again, it was a lead that came courtesy of a Troost-Ekong goal; this time from a powerful header.

Persons: William Troost, José Peseiro, Ekong, Amanda Davies, I’ve, ”, “, AFCON, –, Issouf Sanogo, Sebastian Haller, Les Éléphants, Peseiro Organizations: CNN, Africa, of Nations, Super Eagles, The, Eagles, Equatorial, Guinea Bissau, South, Ivory Coast, Alassane Ouattara, Nigerian Football Federation, English Premier League, Watford, Greek, PAOK Thessaloniki, PAOK Locations: Qatar, Portuguese, Dutch, The Netherlands, Nigeria, Ivory Coast, Equatorial Guinea, South Africa, AFP, Cameroon, Angola, Abidjan, “, Holland, Belgium, Turkey, Italy

☆ Animal spirits are back in the market, fueling 2021-like speculative activity
▼ + stars: | 2024-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Federal Reserve's rate-cut signal in December triggered a furious rally to record highs, unleashing animal spirits that are fueling similar speculative activities from the depths of the pandemic. "The animal spirits are reviving," Michael Hartnett, chief investment strategist at BofA Global Research, said in a phone interview. "Animal spirits, they don't necessarily start with the biggest animals in the jungle," Quincy Krosby, chief global strategist at LPL Financial, said by phone. To be sure, others believe the market rally has been justified by the enthusiasm for artificial intelligence, and the contribution it's likely to make to future corporate profits. Billionaire investor Ray Dalio said the U.S. stock market is not in a speculative bubble based on his criteria.

Persons: Bitcoin, Michael Hartnett, Hartnett, Cryptocurrency, Scott Rubner, Goldman Sachs, Quincy Krosby, Ray Dalio Organizations: BofA Global Research, Nasdaq, GameStop, Palo Alto Networks, Research, LPL Locations: Nigeria, Argentina, Snowflake, YOLO, . U.S, U.S

The animated series is a coming-of-age story set in a futuristic Lagos, Nigeria. Simisola Gbadamosi, who voices Tola in the animated series "Iwájú," attends the world premiere in Lagos, Nigeria, on February 27. As audiences tune in to watch “Iwájú,” Ibrahim says he hopes the family show will speak to viewers of all ages. Kugali co-founders Olufikayo "Ziki" Adeola (left), Hamid Ibrahim (middle), and Tolu Olowofoyekul (right) attend a screening of "Iwájú: in Lagos, Nigeria on February 27. Along with the six-episode series, the soundtrack featuring music by Nigerian composer Ré Olunuga and a game called “Disney Iwájú: Rising Chef” are also being released.

Persons: Hamid Ibrahim, Tolu, ” Ibrahim, ”, ” Adeola, Lagos ” Ibrahim, Simisola Gbadamosi, Siji Soetan, Tola, Kole, Dayo Okeniyi, “, ” Olowofoyeku, ” “, “ Iwájú, Kugali, Olufikayo, Tolu Olowofoyekul, CNN Ibrahim, Disney, Christine Service, Ré Olunuga, Ibrahim Organizations: Nigeria CNN —, Kugali Media, Walt Disney Animation Studios, CNN, Disney, Disney Channel, Walt Disney Company Locations: Lagos, Nigeria, Africa, Femi, Walt Disney Company Africa, Nigerian

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