Nigerian Stock Market Extends Decline, Loses N162bn
Activities on the Nigerian Stock Exchange on Thursday closed southwards, extending previous negative sentiment to three consecutive trading sessions, following…
Month: April 2020
MTN Group To Reduce Stake In Nigeria
MTN Group Ltd will push on with the plan to reduce its majority stake in the wireless carrier’s business, it…
Bezos, Musk Among Billionaires Gaining Net Worth In Pandemic
The combined wealth of America’s billionaires, including Amazon.com (AMZN.O) Inc founder Jeff Bezos and Tesla Inc (TSLA.OA) chief Elon Musk,…
Russia Cuts Key Interest Rate As Coronavirus And Oil Price Plunge Take Hold
The Central Bank of Russia (CBR) on Friday cut its key interest rate by 50 basis points to 5.5%. The…
Oil Prices Rise, Capping Week Of Historic Turmoil Over Coronavirus
Oil prices climbed on Friday, adding to gains from earlier sessions after producers such as Kuwait said they would move…
Coronavirus Stockpiling Drives Best Nestle Sales Growth In Years
Swiss food giant Nestle (NESN.S) reported its best quarterly sales growth in nearly five years on Friday as consumers stockpiled…
U.S. Aid Bill Passed; Duterte Extends Lockdown
The U.S. House of Representatives overwhelmingly passed a $484 billion coronavirus aid package, replenishing funding to aid small businesses and provide support for…
Asian Stocks Slip; Crude Oil Pushes Higher
S&P 500 Index pares rally as virus-drug test disappoints. 10-year Treasury yield holds at 0.6%; Crude climbs in New York
Why I Suspended Green Cards — Trump
U.S. President Donald Trump has defended his new executive order that temporarily suspends immigrant visas. Addressing newsmen on Wednesday evening…
South Africa To Ease Virus Lockdown In Bid To Revive Economy
South Africa’s government will begin easing a lockdown that has devastated the economy from next month, and assess the levels of…
This Is What It Takes To Be In The 1% Around The World
The “top 1%” is the symbol of wealth and power thanks to a protest movement. Since Occupy Wall Street popularized the…
Why Is Harvard Getting $9 Million In Stimulus Money When It Has A $40 Billion Endowment?
Harvard is under attack for the $9 million in stimulus money it’s getting from the federal government. “America’s Richest University…
Nigeria: GTBank Releases Q1 2020 Unaudited Results, Reports Profit Before Tax Of ₦58.2Billion
Guaranty Trust Bank plc has released its unaudited financial results for the period ended March 31, 2020, to the Nigerian…
Nigeria: Nestlé Donates N700 Million Towards Coronavirus Response
In line with its company’s policy to improve livelihoods in its communities, Nestlé Nigeria has contributed over N700 million to…
UK Economy Crumbling Under Coronavirus Strain As Questions Mount Over Lockdown Exit
The United Kingdom’s economy is crumbling under the strain of the coronavirus lockdown and government borrowing is soaring to the…
Venture Firm Benchmark Raises New Fund Without Early Uber Investor: Source
The Silicon Valley venture capital firm known for its early backing of companies such as Uber Technologies Inc is raising…
Flaw In iPhone, iPads May Have Allowed Hackers To Steal Data For Years
Apple Inc (AAPL.O) is planning to fix a flaw that a security firm said may have left more than half…
Trump Signs Immigration Order Curbing Green Cards
President Donald Trump on Wednesday signed an order to temporarily block some foreigners from permanent residence in the United States,…
China To Donate More Money To The WHO
China is to donate an additional $30 million to the World Health Organization (WHO) to support efforts to combat the coronavirus, China’s Foreign Ministry spokeswoman Hua Chunying said on Thursday.
ECOWAS Appoints Buhari To Coordinate Fight Against COVID-19 In Africa Sub-region
Member countries of the Economic Community of West African States (ECOWAS) have appointed Nigeria President Muhammadu Buhari as the coordinator…
Gap Stops Paying Rents, Warns It Might Not Have Enough Cash For Operations
Gap warned on Thursday it may not have enough cash flow to sufficiently fund its operations as stores remain shut…
Nigerian Telcos Battle Congestion, Suspend Porting, Seek Spectrum Sharing
Telecommunication operators are struggling to keep up with the rise in voice and data traffic that has led to congestion…
Why A ‘Return To Normal’ Could Mean Disaster For The Stock Market
It’s hard to deny, although some do, that the stock market, pre-coronavirus, was pushing the limits of what it means…
Target’s Shares Tumble As Retailer Says First-Quarter Profits Will Be Hurt By Higher Costs
CEO Brian Cornell said Thursday the retailer has benefited from a surge in online shopping, but warned it will have…
Apple Aims To Sell Macs With Its Own Chips Starting In 2021
Apple Inc. is planning to start selling Mac computers with its own main processors by next year, relying on designs…
Oil Crash May Warrant Production Halt In Nigeria – NNPC
Nigeria has not stopped producing crude oil but a persistent crash in oil prices may lead to a halt in…
Saudi Arabia May Re-route Tankers If U.S. Imposes Crude Import Ban
Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald…
Record U.S Jobless Claims Wipe Out Post-Great Recession Employment Gains
A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created…
Pandemic Throws Asia’s Services Firms, Factories Into Deeper Decline
The coronavirus pandemic battered Asian economies in April with social-distancing policies and business closures taking a particularly heavy toll on…
Facebook Rolls Out Messenger Kids To 70 New Countries
Facebook on Wednesday rolled out its Messenger Kids application to 70 new countries, saying it can help children deal with…