Reuters Africa Business

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar continued to bounce back on Thursday on some technical buying after being oversold last month, with investors more optimistic about tariff deals between the United States and its trading partners. Volume was thinner than usual, as many international markets were closed on Thursday for the …

US dollar rallies on continued trade deal optimism; yen slumps Read More »

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices settled nearly 2% higher on Thursday after U.S. President Donald Trump threatened secondary sanctions on Iran after a fourth round of U.S.-Iran talks was postponed. Brent crude futures settled at $62.13 a barrel, up $1.07, 1.8%, while U.S. West Texas Intermediate crude futures closed $1.03, or 1.8%, higher …

Oil up 2% as Trump threatens new sanctions on Iran Read More »

By Stephen Culp NEW YORK (Reuters) – Wall Street stocks rallied and gold prices slid on Thursday as solid earnings from big tech bolstered investor risk appetite. All three major U.S. stock indexes began the month with solid gains, with upbeat quarterly results from Meta Platforms and Microsoft benefiting the Nasdaq most, sending the tech-laden …

US stocks end higher on tech boost, yen slides on BOJ gloom Read More »

LAGOS (Reuters) -Nigerian billionaire Aliko Dangote said on Thursday he was “comfortable” with the impact President Donald Trump’s tariffs would have on his urea exports to the U.S. because major competitor Algeria had been slapped with a higher levy. Trump imposed a 14% tariff on imports from Nigeria, Africa’s largest oil exporter, as part of …

Nigeria’s Aliko Dangote ‘comfortable’ with impact of Trump tariffs on urea exports Read More »

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar firmed against major currencies on a data-packed Wednesday after a report showed the world’s largest economy shrank in the first quarter, worse than market expectations, but better than the dire predictions touted by some of the biggest U.S. banks. Gross domestic product (GDP) fell 0.3% in …

US dollar advances after GDP declines; other reports point to still solid economy Read More »

JOHANNESBURG (Reuters) -The South African rand slipped on Wednesday following mixed local economic data and as the dollar gained after data showed the U.S. economy contracted in the first quarter. At 1329 GMT, the rand traded at 18.62 against the dollar, roughly 0.4% weaker than Tuesday’s closing level. Domestic data showed South Africa recorded a …

South Africa’s rand weakens after mixed local data, US GDP dip Read More »