LAGOS / AP The African Development Bank (AfDB) is loaning Nigeria $600 million to help offset a budget deficit of $7 billion, a statement said. The bank said another $400 million would be approved next year if the government implements reforms to economize on government costs, combat corruption and promote diversification and competitiveness in Africa’s biggest economy. Nigeria is ...

  Bloomberg While you wait for the next interest-rate increase in the world’s largest economy, policy has quietly tightened in the second-biggest: China. The People’s Bank of China has allowed a steady increase in money market rates in recent weeks to squeeze leverage in the murky shadow banking realm. A side benefit: higher short-term rates cushion a weakening yuan, which ...

  Bloomberg Facebook Inc. reported a quarter that blew past expectations. But its shares fell after executives suggested they won’t be able to repeat the performance. The stock dropped as much as 7.1 percent on Thursday in premarket trading after two sobering comments on its conference call the night before. First, Chief Financial Officer David Wehner said revenue growth rates ...