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...
Nigeria’s President Muhammadu Buhari on Sunday said he regretted the lingering fuel scarcity currently being experienced in the country. He said he has directed relevant regulators to step up “surveillance and bring an end to hoarding and price inflation by marketers.” In spite of being an oil producing country, Nigeria has been battling fuel scarcity in the last few weeks leading to the holiday season, a period that involves increased vehicular movements and a consequent uptick in demand for petrol. “The fuel scarcity being experienced nationwide is regrettable,” Buhari, who is also Nigeria’s oil minister, tweeted on Sunday. “I sympathize with all Nigerians, on having to endure needless fuel queues. I’m being regularly briefed, especially on the NNPC’s interventions to ensure that there is enough petrol available during this period and beyond,” he added. The president has been under fire since the latest scarcity began. Last week, opposition governor Ayodele Fayos...