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FedEx sues U.S. Department of Commerce

by Uche Ikorouka - 01923

Yesterday (Monday), FedEx filed a suit in U.S. District Court in the District of Columbia against the U.S. Department of Commerce (DOC), which seeks to enforce prohibitions contained in the Export Administration Regulations (EAR). The suit follows FedEx’s accidental diversion of several Huawei packages shipped from the United Kingdom to the United States earlier this month.   In the filing, FedEx argued that the

French-German rail merger blocked by Brussels

by Uche Ikorouka - 01550

Alstom makes TGV high-speed trains   Brussels has knocked down a proposed French-German rail merger, designed to help Europe compete with China.   The EU's competition commission blocked the tie-up, saying uniting France's Alstom with the rail arm of Germany's Siemens would lead to higher prices. The firms had said the merger would create an

Toyota car fault prompts massive recall

by Tola Ojobo - 01701

    Japanese car giant Toyota has announced a recall of more than 2.4 million hybrid vehicles worldwide because of a fault in their systems that could cause them to lose power. The recall of Prius and Auris cars includes 1.25 million in Japan, 830,000 in North America and 290,000 in Europe, of

Nigeria: U.S.-China Trade War Worsens Nigeria’s Non-Oil Exporters’ Woes

by Jack Smith - 0367

Local non-oil exporters may have started feeling the heat of the trade war between global economic leaders. Although projections from international trade bodies showed that average tariffs on exports from Nigeria and Zambia might not go beyond 10 percent under the ordeal, the affected businesses are already decrying slow demand

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