Business News - thoughtmedianetwork.com

Bankers, Ministers Warn of Cyber Risks from New AI System

Business News, International, News / Leave a Comment

Washington DC, United States Finance ministers, central bank governors and top global bankers have raised serious concerns over a powerful new artificial intelligence model known as “Mythos,” warning that it could pose risks to global financial security systems. The model, developed by AI company Anthropic under its Claude series, has triggered emergency discussions after reports […]

Bankers, Ministers Warn of Cyber Risks from New AI System Read More »

IMF Chief Urges Caution as Energy Prices Surge Globally

Business News, International, News / Leave a Comment

Washington DC, United States The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the global economy is facing a major shock triggered by the ongoing Middle East conflict, with rising energy prices expected to affect countries worldwide. Speaking in Washington DC during the IMF’s spring meetings, Georgieva said the disruption in

IMF Chief Urges Caution as Energy Prices Surge Globally Read More »

Tinubu Approves ₦3.3 Trillion Power Sector Debt Settlement — But GenCos Say the Real Figure Is Twice That

Business News, News / Leave a Comment

The Federal Government announced a ₦3.3 trillion settlement plan for a decade of power sector arrears on Sunday, with 15 generation companies already signed on and ₦223 billion disbursed. But the Association of Power Generation Companies insists the actual debt stands at over ₦6 trillion — raising fundamental questions about who verified the figures, and

Tinubu Approves ₦3.3 Trillion Power Sector Debt Settlement — But GenCos Say the Real Figure Is Twice That Read More »

Dangote Refinery Begins Export of Refined Products

Business News, News / Leave a Comment

Lagos — The Dangote Petroleum Refinery has commenced the export of refined petroleum products, marking a significant milestone in Nigeria’s downstream oil sector. The development signals a shift in Nigeria’s long-standing position as a net importer of refined fuel, as the country begins to supply petroleum products to regional and international markets. Industry analysts say

Dangote Refinery Begins Export of Refined Products Read More »

Naira Holds Steady at Q2 Open on Strong Reserves, Tight Policy

Business News, News, Stock Market / Leave a Comment

Abuja — The Nigerian naira has started the second quarter of 2026 on a stable note, trading within a controlled range against the U.S. dollar as macroeconomic buffers strengthen. External reserves, according to the Central Bank of Nigeria (CBN), remain robust at about $49.40 billion, providing sufficient cover for foreign exchange interventions and market stability.The

Naira Holds Steady at Q2 Open on Strong Reserves, Tight Policy Read More »

U.S. Airports Face Severe Disruptions as TSA Staffing Crisis Deepens

Business News, News / Leave a Comment

Air travel across the United States has been thrown into disarray following a mass staffing shortfall within the , with 3,120 officers reportedly absent from duty on Wednesday, triggering unprecedented delays at major airports nationwide. Passengers encountered security lines stretching up to four and a half hours, as checkpoint capacity struggled to cope with surging

U.S. Airports Face Severe Disruptions as TSA Staffing Crisis Deepens Read More »

OpenAI Shutters Sora Video App Amid Mounting Losses and Strategic Reset

Business News, News / Leave a Comment

has discontinued its Sora video-generation application following escalating operational costs and weak commercial performance, marking a significant recalibration of its consumer-facing AI strategy. Internal figures indicate that Sora was costing an estimated $15 million per day to operate, driven largely by the intensive compute requirements associated with high-fidelity video generation. In contrast, the product reportedly

OpenAI Shutters Sora Video App Amid Mounting Losses and Strategic Reset Read More »

Hormuz Crisis Ripples Through Global Economy as Airfares Rise, Supply Chains Tighten

Business News, International, News, Stock Market / Leave a Comment

Dubai — The escalating disruption around the is beginning to hit global markets, with early signs of impact on aviation, agriculture, and regional security. Air travel costs are already rising, with the CEO of warning that airfares have increased by about 20 per cent, driven by higher fuel costs and rerouted flight paths to avoid

Hormuz Crisis Ripples Through Global Economy as Airfares Rise, Supply Chains Tighten Read More »

Nigeria: Fuel Prices Surge Despite Record Reserves as Oil Rally Bites Consumers

Business News, Investments, News / Leave a Comment

Abuja/Lagos — Nigeria is facing a sharp rise in fuel costs even as external reserves climb to a 13-year high, highlighting a growing disconnect between macroeconomic gains and everyday living conditions. Petrol and Diesel Prices Climb Petrol prices have surged to around ₦1,275 per litre and rising, following multiple upward adjustments by the within a

Nigeria: Fuel Prices Surge Despite Record Reserves as Oil Rally Bites Consumers Read More »

Global Trade Disrupted as Strait of Hormuz Traffic Collapses

Business News, International, News / Leave a Comment

Dubai — Global trade faces severe disruption as shipping through the Strait of Hormuz, one of the world’s most vital energy corridors, has collapsed. Data from the United Nations Conference on Trade and Development (UNCTAD) show vessel traffic through the strait has plunged from around 130 ships per day to single digits in early March

Global Trade Disrupted as Strait of Hormuz Traffic Collapses Read More »