Business

It's been a wild week for both the U.S. and global stock markets, with the Dow Jones Industrial Average closing down 2,230 points, or 5.5%, and the S&P 500 down 6% at close on April 4. It wasn't pretty for the tech-heavy Nasdaq, either, which plummeted 5.8%, putting the Nasdaq into bear market territory. The trading session on April 4 was actually the worst day for U.S. stocks...

?The Uganda Shilling has emerged as Africa's best-performing currency, appreciating by 6.1% in the past year.?This impressive rise has placed it ahead of 23 other currencies across the continent, according to data tracked by Bloomberg. The Ministry of Finance attributed the strength of the Shilling to several factors, including a higher inflow of dollars from portfolio investors, which outweighed the corporate demand for the US dollar. The Ministry of Finance attributed the...

Software firm oracle is reportedly in talks with the White House to run TikTok. That’s according to a report Sunday (March 16) by Politico, which notes that there’s still a roadblock to the deal: concerns about the role TikTok’s Chinese founders will play in the video sharing app’s future in the U.S. The news outlet was informed by sources that Vice President JD Vance and national security adviser Mike Waltz are leading...

Spotify CEO Daniel Ek Leon Bennett/Getty ImagesSpotify updated its annual Loud and Clear report on Wednesday, confirming that for a second consecutive year, the streaming giant paid out half of its royalties to independent artists.Of the $10 billion Spotify doled out to music rights holders last year, it gave about $5 billion to indie labels and artists, the company said, a $500 million increase from 2023. “It speaks to opportunities and...

The Virtual Card by MoMo enables secure and seamless online transactions without a physical card or bank account Launched in collaboration with Mastercard, Diamond Trust Bank and Network International, the virtual card simplifies everyday online transactions, enhancing the financial ecosystem for customers   Kampala, Uganda, 28 February 2025 - MTN Mobile Money (U) Limited, in partnership with Mastercard, Diamond Trust Bank and Network International, has launched the Virtual Card by MoMo, an innovative payment...

Visa and Mastercard face regulatory action in the United Kingdom following a payments watchdog’s investigation.The Payment Systems Regulator (PSR) is considering “remedies” for the two companies after uncovering a lack of competition in the card payment market, according to a Thursday (March 6) press release.“Cards are a popular and convenient way to make payments in the U.K., so any issues in the card market can have a negative impact on...