Global Finance News and Trends
What's poppin' in finance
Today is Saturday and you’re getting the update, oh goodness gracious maybe we just make it Saturdays, but nooooooooo! This week news are this week news, lol.. Lets start-
Bitcoin they say crossed its new all time high. Btc hit $118,423 yesterday. I’ve always said I don’t really know much about Bitcoin but yes this is a good thing for the investors. Read full story here
Nvidia Becomes First U.S. Company to Hit $4 Trillion Market Cap
Nvidia has officially become the first U.S. company to reach a $4 trillion market valuation, surpassing both Apple and Microsoft the only other American firms that had crossed the $3 trillion mark.
The company's share price also hit an all-time high of $164.
In the coming weeks, we’ll be diving deeper into the U.S. stock market, so stay tuned.Trade wars continues between US and other states like China and Canada, Trump announced a 35% tariff on a wide range of Canadian imports up from the existing 25% set to take effect August 1. Trump is yet to finalize a China visit and if the August 10 truce deadline leads to new tariffs or a comprehensive trade agreement.
Nigeria has done it again o! Nigeria has taken $747-million Deutsche Bank-led syndicated loan. What is a syndicated loan? A syndicated loan is a type of loan provided to a borrower by a group of lenders (a syndicate) who work together to fund a large loan. One or more banks act as lead arrangers or managers, while other banks contribute portions of the total amount. No single bank wanted to take on that full amount alone so they shared the burden.
Naira Watch: Mixed Performance Across Markets
According to Nairametrics, the naira closed the week with mixed results.On the official market, the naira slightly depreciated, ending at ₦1,532/$1 on Friday, compared to ₦1,531/$1 on Thursday.
However, on the parallel (black) market, the naira strengthened.
Why the change? As we’ve discussed in previous editions, a drop in demand for the dollar continues to influence currency movement.
Have a blessed weekend,
Thank you for reading!