Wall Street Caps Best Month In Decades With Broad Sell-off
U.S. stocks lost ground on Thursday as grim economic data and mixed earnings prompted investors to take profits at the…
Month: April 2020
Nigeria: FIRS Waives Interests And Penalties On Outstanding Debts To May 31st
The Federal Inland Revenue Service (FIRS) has announced additional palliative measures to further manage the impact of the Coronavirus disease…
Nigeria: BREAKING: We Did Not Approve Fresh 85 Billion Loan For Buhari – Senate
The Nigerian senate has dispelled reports that a fresh N850 billion loan request made by the president was approved during…
American Airlines Posts $2.2 Billion Loss On Pandemic, First Since Bankruptcy Exit
American Airlines (AAL.O) on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in…
Twitter Sales Top Estimates, As Asia’s Ad Sales Rebounds After Ease In Lockdown
Twitter Inc (TWTR.N) on Thursday said its ads sales slightly rebounded in Asia after a plunge due to the coronavirus…
Netflix Just Had A Great Q1. Is The Stock Getting Too Expensive?
The COVID-19 pandemic has altered habits and routines like never before. With strict lockdowns in place all across the world…
Fauci Says Coronavirus Drug, Remdesivir Is Good ‘First Step’ In Fighting COVID-19 But ‘Not The Total Answer’
The nation’s top infectious disease expert said the modest results for an experimental drug for the coronavirus is a good “first step”…
Coronavirus: US Unemployment Tops 30m
Roughly 30.3 million people have now filed for jobless aid in the six weeks since the coronavirus outbreak began forcing…
British Airways To Cut 12,000 Jobs
British Airways is set to cut up to 12,000 jobs from its 42,000-strong workforce due to a collapse in business…
Nigeria: MTN Revenue Rises To N329.2bn
MTN Nigeria reported revenue growth of 16.7 per cent to N329.2bn in the first quarter ended March 31, 2020 compared…
Trump Says China Wants Him To Lose His Bid For Re-election
President Donald Trump said on Wednesday he believes China’s handling of the coronavirus is proof that Beijing “will do anything…
Trump Asks Saudi Arabia To Cut Oil Or Lose Military Aid
As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi…
Clash Of Tech Titans: Zuckerberg Praises Coronavirus Lockdowns; Musk Sees ‘Fascism’
Silicon Valley billionaires Elon Musk and Mark Zuckerberg offered dueling views on lockdown measures designed to slow the spread of…
Nigeria: Refineries Recorded N9.6bn Loss In January – NNPC
Nigeria’s refineries started their 2020 financial year with losses as they posted a cumulative operational deficit of N9.6bn in January.…
Nigeria: Foreign Reserves Drop By $5.09bn In Four Months
The country’s foreign reserves have continued its downward trend, dropping by $5.09bn from $38.53bn on January 2, 2020 to $33.44bn…
Nigeria: Lagos Sanwo-Olu Orders Markets, Restaurants To Open, But Must Adhere To Certain Rules
The Lagos State Governor, Babajide Sanwo-Olu, has directed the reopening of markets on selected days in the state. He spoke…
Nigerian Banks In Lagos, Ogun And FCT To Open From Monday
The Federal Government says banks will open for commercial operations in Abuja, Lagos and Ogun States beginning Monday, May 4.…
Ford Terminates Electric Vehicle Program With Rivian
Ford Motor Company and its luxury segment Lincoln Motor Company have announced the shelving of their plans to build a new…
US Fed Leaves Rates Near Zero, Sees Virus Risks Lingering
The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to do what it takes to…
Nigeria: CBN Resumes Dollar Sales For SMEs And School Fees
The Central Bank of Nigeria (CBN) has resumed the sale of foreign exchange to all commercial banks for onward sales…
Airlines May Not Recover From Covid-19 Crisis For Five Years, Says Airbus
The planemaker Airbus has warned that the aviation industry could take as long as five years to recover to the…
US Economy Shrinks 4.8% As Coronavirus Ends Longest Expansion In History
The longest economic expansion in US history officially came to an end on Wednesday when the commerce department announced the…
Ford Reports A Loss And Drops A Bombshell In Its Outlook
Detroit auto maker and iconic American manufacturer Ford Motor’s first-quarter earnings missed Wall Street estimates. But that actually isn’t the…
Boeing To Cut Staff After $641m First-Quarter Loss
Boeing announced sweeping cost-cutting measures Wednesday after reporting a first-quarter loss of $641 million following the hit to the airline…
U.S. GDP In The First Quarter Is Going To Be Bad — And The Damage Is Far From Done
The spring is shaping up to post the biggest contraction in U.S. economic growth since the Great Depression in the…
Much of U.S. Economy Still Plugging Along Despite Coronavirus Pain
Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home.…
Boeing Eyes Major Bond Issue To Raise Funds
The preparations reflect Boeing’s confidence that it can tap the capital markets to strengthen its finances, even as the largest…
IMF Approves $3.4bn For Nigeria’s COVID-19 Fight
The board of the International Monetary Fund (IMF) has approved the sum of $3.4 billion to support Nigeria’s COVID-19 fight.…
Germany Grants Nigeria N8.9bn Debt Relief
The Republic of Germany said it has granted Nigeria debt relief amounting to N8.9 billion (€22.4 million) on account of…
Trump To Order Meat Processing Plants To Stay Open Amid Coronavirus Outbreaks In Some Plants
President Donald Trump plans to order U.S. meat processing plants facing concerns about coronavirus outbreaks to stay open to protect…