Ethiopian Airlines’ CEO Says The Airline Is ‘Fighting For Survival’
Ethiopian Airlines CEO Tewolde Gebremariam told an aviation conference in Addis Ababa the coronavirus pandemic was “a temporary problem” –…
Month: April 2020
Kraft-Heinz Extends Factory Worker Bonuses In Pandemic
Kraft Heinz (KHC.O) will extend for two weeks a $100 per week stipend for factory workers producing its packaged foods…
Netflix To Borrow Another $1 Billion Despite Record High Cash Balance
Netflix Inc. is selling new junk bonds, even as the company sits on a record high cash balance and turned its first quarter of positive cash flow in six years.
Central Bank Of Nigeria To Begin Disbursement Of N50bn COVID-19 Fund On Thursday
Barring any last-minute change in plans, the disbursement of the first tranche of the Central Bank of Nigeria N50bn targeted…
Stocks Rise After U.S Senate Approves Coronavirus Relief Funds
Stocks rose Wednesday morning, recovering some losses after a sell-off in risk assets a day earlier sent the S&P 500 to…
Nigerian Government To Use BVN To Identify Poor Nigerians – Sadiya Farouq
As the coronavirus pandemic continues to rampage, the FG has revealed plans to expand the social register for palliative distribution…
Coronavirus Pandemic Will Cause Global Famines Of ‘Biblical Proportions,’ UN Warns
The world is facing multiple famines of “biblical proportions” in just a matter of months, the UN has said, warning…
Coronavirus Propel Netflix To Huge Subscriber Gains
Netflix added a stunning 16 million subscribers in the first quarter of 2020, as the coronavirus pandemic led people to stay at home and binge on hit docuseries, such as “Tiger King,” and reality shows like “Love is Blind.
Study Finds No Benefit, Higher Death Rate In Patients Taking Hydroxychloroquine For Covid-19
Coronavirus patients taking hydroxychloroquine, a treatment touted by President Trump, were no less likely to need mechanical ventilation and had higher deaths rates compared to those who did not take the drug
U.S. Home Sales Tumble As Coronavirus Keeps Buyers Indoors
The slump in home resales reported by the National Association of Realtors (NAR) on Tuesday added to a pile of…
China: The Biggest Winner Of The Oil Crash
A clear winner has emerged from the historic rout in global oil markets: China, which is reaping an unlikely reward…
Nigeria To Earn $10.61bn From Crude Oil Between May And December After Recent Production Cuts
Nigeria may earn about $10.61bn from crude oil sales between May and December this year following latest decision by members…
Trump Looking At Stopping Saudi Oil Shipment As U.S Crude Oil Price Plunges Into Negative
U.S. President Donald Trump said on Monday that his administration was looking at the possibility of stopping incoming Saudi Arabian…
80,000 Apply For Coronavirus Loan In Nigeria
NIRSAL Microfinance Bank (NMFB) has resolved that the business plans for the ₦50 billion Targeted Credit Facility as a stimulus…
Coronavirus: Spain Pledges More Economic Support
Spain’s cabinet approved measures to support workers and businesses struggling under stringent coronavirus restrictions on Tuesday as officials cheered a…
Coca-Cola Posts Better Than Expected Earnings But Coronavirus Continues To Wreck Havoc
Coca-Cola’s (KO) better than expected first quarter on Tuesday may not even matter to investors as business has fallen off…
South Africa’s Rand Opens Weaker As Fear Of Economic Contraction Grows
The South African rand opened weaker on Monday, mirroring moves elsewhere in emerging markets as fears over global economic growth…
Nigerian Stock Exchange Records Marginal Loss To Commence Weekly Trading Activities
Transactions on the floor of the Nigerian Stock Exchange on Monday recorded a marginal loss to commence the weekly trading…
Global Oil Price Benchmark Slumps To $19
The global oil price benchmark, Brent crude, has extended its decline, plummeting to $19 per barrel on Tuesday, amid the demand collapse…
French Court To Issue Verdict In Amazon Case On April 24: Judge
A verdict in a case involving U.S. e-commerce giant Amazon will be issued by the Court of Appeal in Versailles…
What’s A Negative Crude Future And Does It Mean Anything For Consumers?
The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time…
Nigerian Port Authority Extends Demurrage-Free Period To April 26
Following its directive to terminal operators to suspend all applicable storage fees on consignments (demurrage) for 21 days effective March…
Coronavirus: Empty Resorts Spell Long Crisis Across The Caribbean
The nearby airport, the lifeblood of Varadero’s economy, closed after Cuba shut its borders two weeks ago to protect against…
IMF May Need ‘Exceptional Measures’ To Facilitate Pandemic Response: Georgieva
The International Monetary Fund may need to step outside its comfort zone and consider “exceptional measures” to help countries deal…
Oil Plunges Further To Below Zero For First Time In Unprecedented Wipeout
Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping…
Market Wrap
“Given that the policy focus from governments and central banks has been to support the corporate sector, we like investment grade credit,” says Generali Investment’s Vincent Chaigneau.
Oil Plunges Below $10 With Traders Fleeing Expiring Contract
U.S. benchmark falls the most since trading began in New York. WTI May contract drops as much as 56% before Tuesday expiry. Oil Prices Will Remain Low in Short-Term: Goldman Sachs’ Tilton
Bahrain Follows Saudi Arabia, Oman With Budget Cuts Amid Crisis
Bahrain became the latest nation in the oil-rich Gulf to announce drastic spending cuts, an effort to stretch the budget…
JPMorgan Asset Seeks Collateral Protection in Private Lending
JPMorgan Asset Management is prioritizing lending to companies with high-quality assets as more cash-hungry borrowers need fresh funding. The firm has…
U.S. Restaurants On Track To Lose $240 Billion By End of 2020: Survey
U.S. restaurants are on track to lose $50 billion in April, with losses mounting to an estimated $240 billion by…