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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...
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EFCC alleges plot to frame Magu.

The Economic and Financial Crimes Commission (EFCC) has raised the alarm over an alleged plot to frame its Acting Chairman, Mr Ibrahim Magu, with ownership of assets abroad.
Spokesman for the commission, Mr Wilson Uwujaren, said in a statement on Wednesday that “shadowy interests at the receiving end” of the agency’s anti-corruption campaign were behind the alleged scheme.
“Those behind the plot, which is believed to be part of a grand design to discredit the anti-graft czar, have allegedly finalised plans to name Magu as the owner of choice properties in exotic locations abroad.
“The commission has information that the desperate cabal could take their gambit to the ridiculous extent of purchasing properties and registering them in the name of Ibrahim Magu to make the plot believable.
“They are also prepared to sponsor some political hirelings who would come out openly to claim they have information about the property acquisitions.”
According to him, the alleged plot is aimed at tainting the “unblemished integrity” of Magu to make him an object of public ridicule.
“The commission, however, wishes to alert the public that Magu has no interest in any property whatsoever outside Nigeria.
“He has neither bought a house anywhere outside Nigeria nor commissioned any person or corporate body to acquire property in his name or any name remotely linked to him.
“The latest plot is coming many months after the commission similarly raised alarm over plots by some interests to pay humungous sums into Magu’s accounts with a view to releasing the information as evidence he had been compromised.”
The EFCC spokesman quoted Magu as saying that the schemes would never make him lose focus in his assignment to defeat corruption in the country.
“They can only irritate me, but they can’t stop me because all men of goodwill in this country know the sacrifices that we are making to improve the fortunes of our nation.
“Those who assume that I have properties abroad, can go and claim them”, Magu was quoted as saying.

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