Gain

Naira recorded a marginal gain against the U.S. dollar at the official market on Wednesday, extending its appreciation to a second day. According to data published by FMDQ, where forex is officially traded, the naira closed at N418.00 to a dollar on Wednesday. This represents a N1.00 or 0.24 per cent gain from N419.00 it exchanged hands with the greenback currency in the previous session on Tuesday. Since the commencement of trading this week, the weakest rate the naira has touched is…

International politics have cut Huawei off from suppliers of 5G tech, which has forced the company to release its flagships as 4G-only devices. A workaround has been discovered – a case with a built-in 5G modem can add next-gen connectivity to the phones. Of course, the case is not made by Huawei itself, it is manufactured by Soyealink. Right now only the Huawei P50 Pro is supported. However, if this solution proves popular enough, the company will likely create cases for other Huawei phones. The case will be available…

Days after Tesla Chief Elon Musk take control over Twitter, he said that for the microblogging site to deserve public trust, it must be politically neutral. "For Twitter to deserve public trust, it must be politically neutral, which effectively means upsetting the far right and the far left equally," Musk tweeted.Twitter on Monday confirmed the sale of the company to Musk for $44 billion (roughly Rs. 3,37,250 crore).Under the terms of the deal, shareholders will receive $54.20 (roughly Rs. 4,150) in cash for each share of…

South Korea's LG Display on Wednesday saw its third-quarter operating profit more than triple as strong television demand boosted panel prices but said it expects the buying spree prompted by the pandemic to slow next year.The Apple supplier posted an operating profit of KRW 529 billion (roughly Rs. 3,390 crore) or the July-September quarter versus KRW 164 billion (roughly Rs. 1,050 crore) a year earlier.It missed an average analyst forecast of KRW 600 billion (roughly Rs. 3,840 crore) compiled by Refinitiv…

Google at its I/O 2022 consumer keynote on Wednesday announced that it was updating its search engine with improvements to visual searches. The company revealed that it will expand its multisearch feature to allow users to see local results. Meanwhile, Google also stated that it is working on a new scene exploration feature to get insights about multiple objects by panning a camera to see information and insights on their screen. The feature will rely on the multisearch feature, and the company is yet to reveal when it…

Credit: Unsplash/CC0 Public Domain Chronic poverty in the developing world can seem like an insoluble problem. But a long-term study from Bangladesh co-authored by an MIT economist presents a very different picture: When rural poor people get a one-time capital boost, it helps them accumulate assets, find better occupations, and climb out of poverty.…

VW is adding capacity to make the ID.4 SUV-BEV VW brand operating operating profit before special items increased 4.6 percent to EUR 513 million in the first quarter. The Volkswagen brand strengthened the VW Group’s economic efficiency in the first quarter of 2022, the brand says. In the first three months, operating profit for the Volkswagen brand before special items increased to EUR 513 million (Q1 2021: EUR 490…

Lead author Alta Howells (left), co-author Alysia Cox (standing right) and co-author James Leong (seated) take a gas sample for H2 analysis, review field notes and analyze aqueous chemistry on a spectrophotometer in Oman for this study. Credit: Kirt Robinson In Oman, on the Persian Gulf, there is a large slab of ancient seafloor—including ultramafic rocks from Earth's upper mantle—called the Samail Ophiolite. These unique…

Elon Musk’s acquisition of Twitter has prompted many users to switch to other social networks with a similar pedigree. A case in point is Mastodon, which saw over 30,000 new user sign-ups in a single day, said Mastodon chief executive Eugen Rochko. The sudden influx of new users has also slowed its servers down. “Mastodon is slow right now, as far as I can tell because there are twice as many people using it at the same time as ever. I’m working on making it go fast again," Rochko…

Jeff Bezos has asked in a post on Twitter if Elon Musk's $44 billion cash deal to buy Twitter gives China "a bit of leverage over the town square". The purchase of Twitter by Elon Musk has generated a debate about whether the deal is good for the social media network. In many countries, Twitter has been at the centre of intense discussions over free speech and the spread of misinformation. The social media platform is also wrestling with issues related to content moderation. Twitter is blocked in China, where Musk, the…