Business
Apple Disagrees With France, Says Iphone 12 Meets Radiation Standards
An American multinational technology company, Apple Inc, has on Wednesday said its iPhone 12 model was certified by multiple international bodies as compliant with global radiation standards, this comes after France ordered it to stop selling the phone on the grounds that it breaches European exposure limits.
The Agence Nationale des Fréquences radiation regulator told Apple on Tuesday, to stop the sales of iPhone 12 in France after tests which it said showed the phone’s Specific Absorption Rate (SAR), a measure of the rate of radiofrequency energy absorbed by the body from a piece of equipment, was higher than legally allowed.
The ANFR said it would send agents to Apple stores and other distributors to check the model was no longer being sold.
The agency, which manages France’s radio frequencies and periodically tests phones to check human exposure to electromagnetic waves, said it expected Apple “to deploy all available means to put an end to the non-compliance.”
A failure to act would result in the recall of iPhone 12s already sold to consumers, it added.
Apple however said it had provided ANFR with multiple Apple and independent third-party lab results proving its compliance with all applicable SAR regulations and standards in the world.
It said it was contesting the results of AFNR’s review and would continue to engage with the agency to show it is compliant.
The AFNR said accredited labs had found absorption of electromagnetic energy by the body at 5.74 watts per kilogram during tests simulating when the phone was being held in the hand or kept in a trouser pocket. The European standard is a specific absorption rate of 4.0 watts per kilogram.
ANFR added the tests showed the phone complied with so-called body-SAR standards when it was in a jacket pocket or bag.
France’s junior minister for the digital economy, Jean-Noel Barrot, said a software update would be sufficient to fix the radiation issues linked to the phone which the U.S. company has been selling since 2020.
He said in an interview on Tuesday “Apple is expected to respond within two weeks. If they fail to do so, I am prepared to order a recall of all iPhones 12 in circulation. The rule is the same for everyone, including the digital giants.”
Business
NNPCL wants to sell 10% equity via IPO on NGX, LSE
NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.
The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.
The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.
NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.
Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.
The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.
Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.
BLACK/PARALLEL MARKET RATES
1390DOLLAR (US
₦1835POUND (GBP)
₦1510EURO (EUR
₦970 CANADIAN DOLLAR (CAD)
₦65 SOUTH AFRICAN RAND (ZAR)
₦350 UAE DIRHAM (AED)
₦190 CHINESE YUAN (CNY)
₦100 GHANAIAN CEDI (GHS)
₦2300 West African CFA F.(XOF)
₦2200 Central African CFA F.(XAF)
₦850 Australian Dollar AUSSIE (AUD)
OFFICIAL CBN EXCHANGE RATES
DOLLAR (USD)₦1346.93
POUND (GBP)₦1807.72
EURO (EUR)₦1512.26
SWISS FRANC (CHF)₦1644.21
JAPANESE YEN (JPN)₦8.52
West African CFA FRANC (XOF)₦2.30
WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1825.03
CHINESE YUAN (CNY)₦201.92
SAUDI RIYAL (SAR)₦359.15
SOUTH AFRICAN RAND (ZAR)₦81.37
Business
Australia hikes rates to 18-year high to fight inflation
The hike is the fifth this year, adding to cost-of-living pressures felt by households by increasing home mortgage payments, a politically potent topic in Australia.
•Michele Bullock, governor of the Reserve Bank of Australia (RBA), during a news conference at the central bank’s head office in Sydney, Australia, on Tuesday, May 5, 2026. Photographer: Brendon Thorne/Bloomberg via Getty Image.
Australia’s central bank Tuesday raised its key interest rate to a 18-year high , citing the prolonged war in the Middle East and persistent inflationary pressures.
In a statement, the Reserve Bank of Australia said it would lift its cash rate by 25 basis points to 4.85 percent.
“Inflation remains elevated,” it said. “This partly reflects higher fuel and other commodity prices affected by the conflict in the Middle East.”
“AI-related investment is driving rapid growth in prices for technology-related goods, and inflation in many goods and services remains high.”
The hike is the fifth this year, adding to cost-of-living pressures felt by households by increasing home mortgage payments, a politically potent topic in Australia.
It brings rates to their level seen since late 2008, at the height of the global financial crisis.
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