Nissan and Honda might be merging
Honda and Nissan are quietly discussing a potential merger. This partnership would create a powerful competitor to Toyota, Japan’s leading car company, and strengthen their position in the global automotive market.
According to Bloomberg, Honda and Nissan have been in early-stage discussions about joining forces. One possibility they’re exploring is forming a new parent company that would oversee both businesses. Bloomberg’s sources also mentioned that Mitsubishi Motors might potentially be included in these merger talks.
South Korea’s Yoon avoided questioning
South Korea’s impeached President Yoon Suk Yeol is facing potential arrest after failing to appear for a critical questioning by an investigation team on Wednesday.
The investigation team, made up of representatives from the defence ministry, police, and an anti-corruption agency, was expecting Yoon to answer questions at 10 a.m. local time. When he didn’t appear, the investigators began considering sending him a second formal summons.
This situation stems from Yoon’s controversial declaration of martial law earlier this month, which triggered a major political crisis. The South Korean parliament voted to remove him from office just a few days ago.
Read Also: South Korea’s president hides as police raid his office
China’s billionaires are making money for the first time since the pandemic
China’s mega-rich are finally making money again after a tough few years. Since the start of the year, the country’s wealthiest individuals have seen their combined wealth increase by 16%, reaching $809.6 billion.
Tech industry leaders are driving this rebound. For instance, Pony Ma from Tencent has seen his fortune grow by over a third, reaching $47.9 billion. Lei Jun, founder of Xiaomi, has also done well, adding $12.8 billion to his wealth, largely due to the company’s aggressive move into electric vehicle manufacturing.
This recovery comes after years of government crackdowns on powerful tech companies like Alibaba and Didi. These restrictions had previously dampened investor confidence and threatened the private sector, which had been crucial to China’s economic growth in previous decades.
Nigeria made over N3.8 trillion in taxes from big-tech companies
Major international tech companies like Google, Netflix, and Facebook have paid Nigeria’s government a massive N3.85 trillion in taxes during the first nine months of 2024. This is a huge jump from the previous year, representing a 68% increase from 2.29 trillion naira in 2023.
The tax amount includes both Company Income Tax and Value Added Tax, according to data from Nigeria’s National Bureau of Statistics. The tax contributions grew steadily throughout the year: from 1.03 trillion naira in the first quarter to 1.30 trillion naira in the third quarter. The second quarter saw the highest contribution at 1.52 trillion naira.
MTN pays N200billion in VAT to Lagos monthly
MTN Nigeria contributes over N200 billion to Nigeria’s Value Added Tax (VAT) pool every month. Taiwo Oyedele, who leads the Presidential Fiscal Policy and Tax Reforms Committee, revealed this detail during Channels Television’s Town Hall on Tax Reforms.
Oyedele also pointed out that even though MTN provides services across Nigeria, all of its VAT payments are credited to Lagos State, where the company’s headquarters is located.
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