News
Euro Hits 20-Year Low Against US Dollar Over Recession Fears
Growing fears of a recession in the eurozone push the euro to its lowest level against the US dollar since 2002.
The European Union’s single currency has sunk to its lowest level against the US dollar since 2002 as data pointed to a growing recession risk in the eurozone.
The euro also dived on Tuesday as investors eyed aggressive interest rate hikes by the US Federal Reserve in its fight against inflation, in contrast with the European Central Bank which plans more modest increases.
Just before 09:00 GMT, the shared eurozone unit tumbled to $1.0306, threatening a push towards US dollar parity for the first time since the euro’s creation in 1999.
Economic growth in the eurozone floundered in June, a key survey showed on Tuesday, hit by soaring inflation.
Corporate confidence
S&P Global’s closely watched monthly purchasing managers’ index (PMI), which measures corporate confidence, fell to 52.0 in June from 54.8 in May.
The reading, which was a 16-month low, however, remains above the 50-point level signalling expansion.
“Growing fears of a recession are hammering the euro lower, whilst the dollar is soaring on bets that the Fed will keep hiking rates aggressively to tame inflation,” City Index analyst Fiona Cincotta told the AFP news agency.
“Today’s PMI data from Europe have highlighted the risk of slowing growth at the end of the second quarter and raise the prospect of a contraction in activity in the coming months.”
The renewed agreement reinforces the longstanding partnership between the artist and the label. It positions Chadreek for the next phase of his career with enhanced support across music production, distribution, marketing, and international expansion.
Known for his smooth vocal delivery and consistent output, Chadreek has steadily cultivated a dedicated following through standout records including Ori Mi (featuring Seyi Vibez), Better Dayz, Awure, and his earlier project No Bad Vibe. The renewed deal is expected to accelerate his momentum as he prepares new music and broadens his presence across Africa and global markets.
A source close to the camp confirmed that both parties are fully aligned on a clear vision for the artist’s next chapter, with a strong emphasis on high-quality releases and strategic growth.
This renewal marks another significant milestone in Chadreek’s journey as he continues to establish his place within the Afrobeats landscape.
About Chadreek
Chadreek is a Nigerian singer and songwriter signed to SauceBoi Music. He is recognised for his distinctive voice and a growing catalogue of Afrobeats records that blend melody, emotion, and street energy.
About SauceBoi Music
SauceBoi Music is a UK-based record label committed to developing and promoting talent across the Afrobeats and broader African music scenes.
Josh2Funny’s Album Has Fans Talking — But Should He Stick To Music Or Skits? 😂🎶
Nigerian comedian and content creator Josh2Funny has taken his comedy game into music, and Nigerians are definitely having something to say about it.
The comedian released his 15-track album, “On Behalf of Josh,” on July 10, 2026, but instead of fading away after release, the project has continued to generate conversations on X.
And the big question now is:
Should Josh2Funny continue with music or go back to skits? 😂
Fans have been divided. While some listeners openly criticized the album and told him to return to comedy, others found songs they genuinely enjoyed.
One X user joked:
“Josh2Funny stopped doing skits and started music, Everybody wan chop this music money 😂”
Another simply said:
“This Josh2Funny Album no enter make he just go back skit abeg 😂”
But then came “Lembe.” 🔥
The track caught fire on X and eventually became a trending topic in Nigeria. The #LembeChallenge also gained momentum as creators began jumping on the song.
Josh2Funny later announced ₦1 million for winners of the challenge, giving the song another major push.
And it didn’t stop there.
‘INTERNATIONAL’ FT. ICE PRINCE ALSO TRENDED
On another day, “International” featuring Ice Prince generated its own buzz on X.
One fan even called it their favourite song from the album, while praising the collaboration. The post itself pulled thousands of views, showing that people weren’t only talking about Lembe.
From album criticism to trending songs and challenges, “On Behalf of Josh” has kept Josh2Funny’s name in the conversation.
Whether you love the album or think he should return to skits, one thing is clear:
Josh2Funny has succeeded in getting Nigerians talking. 😂🔥
So, let’s settle this once and for all:
Should Josh2Funny continue with MUSIC 🎶 or return to SKITS 😂?
Music or Skits? Drop your answer! 👇
-
Audio10 years agoPage – Day Break Everywhere Burst
-
Audio5 years agoShadykarz – Forever
-
Audio10 years agoJuniorboy ft. 9ice – IRAPADA
-
Entertainment Gists6 years agoEx-Beauty Queen, Sandra Benede Shares Sexy Photo
-
Audio5 years agoSimi – Happy Birthday ft. Adekunle Gold, DeJa
-
Audio5 years agoRuger – Bounce
-
Mixtapes4 years agoMixtape: DJ DimpleNipple – The Best Of Amapiano Thrills
-
Editorials3 years agoSa’eedah Imam On Creating Her Imprint In The Nigerian Music Industry As An Emerging Creative Writer