Nigeria’s PalmPay thrives on ‘ultimate competition’ of cash
Chinese-backed payment app has focused on customers excluded by traditional banks, growing to 35mn users
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Biden’s activist treasury issuance continues under Trump
Despite past criticism by Scott Bessent and Stephen Miran, the debt strategy persists and is spreading internationally
Fossil fuel spending to fall for first time since pandemic
Decline is led by oil sector, where lower prices are forcing companies to reassess their plans, says IEA
Trade war a bigger challenge for EM central banks than Covid, says IMF’s Gopinath
Fund deputy warns policymakers are ‘steering through the fog’ as they weather Donald Trump’s unpredictable tariffs
Most companies are already raising prices or plan to because of tariffs, data shows
Two different surveys show most firms plan to pass along tariff costs to consumers.
Fed ‘Beige Book’ economic report cites declining growth, rising prices and slow hiring
The report noted that “economic activity has declined slightly since the previous report” released April 23.