Author: Press Room

© Reuters. LAGOS – Jumia Technologies AG (NYSE:), the leading e-commerce platform in Africa, has reported a significant reduction in its quarterly losses alongside strategic partnerships aimed at enhancing its service offerings. The company’s third-quarter financial results for 2023 revealed an adjusted EBITDA loss of $15 million, marking the smallest loss since its initial public offering in 2019. The company’s liquidity improved by $19 million year-over-year due to strategic actions, including a substantial cutback in sales and advertising expenses which were reduced by 74% to $4.3 million. This reduction reflects Jumia’s ongoing efforts to streamline operations and focus on profitability.…

SlavkoSereda/iStock via Getty Images Crude oil prices tumbled Thursday to their lowest levels since early July on continued concerns over weak global oil demand, following U.S. data confirming that crude stockpiles added 3.6M barrels to the highest level since August, including a build at the key Cushing, Oklahoma, storage hub. On Thursday, U.S. data showed industrial production fell 0.6% in October, another sign of a potentially softening economy that could hurt energy demand Front-month Nymex crude (CL1:COM) for December delivery closed -4.9% to $72.90/bbl, and front-month January Brent crude (CO1:COM) finished -4.6% to $77.42/bbl, their worst settlements since July 6…

Through the early days of the election cycle, Republican voters and elected officials in Iowa said they saw little of Ms. Haley. She was polling in the single digits and lagging behind her rivals on fund-raising, making it difficult to campaign in a rural state that requires more time and money to cover ground. But her campaign has been gradually adding staff and building out her Iowa footprint since the summer. Last month, her Iowa team added two new members: Hooff Cooksey, Governor Reynolds’s campaign manager during her 2018 run, and Troy Bishop, the 2022 field director for Senator Chuck…

Anna-Carina Tetzner and Sean Peel moved to Bali, Indonesia, from Australia right before the pandemic.They paid $17,000 to lease a plot of land in Ubud for 20 years and built a modular home on their own.They say they love life on the island and have plans to build another house next year. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app After a few vacations in Bali, Anna-Carina Tetzner and Sean Peel decided it was where they wanted to live full time.The couple had been…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.An Israeli private detective has been sentenced to 80 months in prison for his role in a $4.8mn hacking scheme that targeted journalists and critics of German fintech group Wirecard. Aviram Azari, 52, pleaded guilty in April last year to computer intrusion, wire fraud and identity theft charges relating to work done on behalf of Wirecard, among others. The company collapsed in 2020 following the exposure of a massive fraud.“From his home in Israel, Aviram Azari played a major role in orchestrating…

© Reuters. FILE PHOTO: Argentina’s presidential candidate Sergio Massa gestures during a press conference a day after the first round of Argentina’s presidential election, in Buenos Aires, Argentina October 23, 2023. REUTERS/Cristina Sille By Nicolás Misculin BUENOS AIRES (Reuters) – Argentina’s Peronist Economy Minister Sergio Massa may be about to pull off a political miracle: win a presidential election despite being at the helm of the country’s worst economic crisis in decades and with inflation nearing 150%. The 51-year-old political wheeler-dealer pulled off an unexpected first place in the South American country’s first-round vote in October and is neck-and-neck with…

© Reuters NEW YORK – Amid a day of mixed movements in the stock market, Amazon.com Inc (NASDAQ:) experienced a second consecutive day of share price declines. Today, the e-commerce giant’s shares fell by 0.26% to close at $142.83, which is $4.46 lower than its peak of $147.29 observed yesterday. While the S&P 500 Index saw a slight uptick, increasing by 0.12%, and the edged down by 0.13%, Amazon’s performance stood out as it did not echo the gains of some of its tech peers. Competitors such as Apple Inc (NASDAQ:) enjoyed a rise of 0.90%, Microsoft Corporation (NASDAQ:) climbed…

picturejohn/iStock Unreleased via Getty Images Apple (NASDAQ:AAPL) is reversing course on its approach to iPhone text messaging — moving to adopt a standard that will make texting between its devices and Android (NASDAQ:GOOG) (NASDAQ:GOOGL) devices work more smoothly, despite its previous opposition. The company will add support for RCS (Rich Communication Services) messaging next year, after longtime resistance. That’s the messaging approach used by most Android phones and devices, which sports added capabilities compared to older SMS/MMS messaging standards. “Later next year, we will be adding support for RCS Universal Profile, the standard as currently published by the GSM Association,”…

Georgia Republicans are taking a victory lap after the MLB named Atlanta as the site of the 2025 All-Star Game, which it moved from the state in 2021 following the passage of a voting law dubbed by left-wing critics as racist and akin to Jim Crow laws.The law, which is still on the books in Georgia, aimed to ensure election integrity by placing certain restrictions on absentee and mail-in voting, expanding voter ID requirements and prohibiting non-poll workers from providing food and drink to voters waiting in line at polling centers.MLB Commissioner Robert Manfred said at the time that the decision…

Turkish-made Bayraktar TB2 drones were a valuable weapon for Ukraine after Russia invaded last year. The TB2 drone has lost much of its utility as Russia’s military has adapted to its use, however. But the firm behind the TB2 is investing in Ukraine, and its other drones may see action there. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app After months of use by Ukrainian troops, the Turkish-made Bayraktar TB2 drone appears to have lost some utility, in part because of the Russian military’s…