United Airlines Expects $2.1 Billion Loss, Seeks Government Aid
United Airlines (UAL.O) said on Monday it expects to report a pre-tax loss of about $2.1 billion for the first…
Month: April 2020
A Tsunami Of Bankruptcies Are About To Wash Away America’s Retail Sector
As the coronavirus pandemic keeps America’s retail stores closed, Michael McGrail is gearing up for what is shaping up to…
Stocks Sink As Oil Drops To More Than 21-year Low
The May contract for U.S. West Texas intermediate crude oil which expires on Tuesday, dropped 39.74% to $11.07 per barrel…
Aston Martin To Focus On Production Of SUVs
Aston Martin’s (AML.L) immediate priorities will be restarting manufacturing and launching production of its crucial first sport utility vehicle, the…
Coronavirus: Branson Believes Virgin Atlantic Will Collapse Without Government Bailout
Virgin Atlantic will only survive the coronavirus outbreak if it gets financial support from the British government, the airline’s founder…
Volkswagen Settles Emission Class Actions With Three-Quarters Of Claimants
Volkswagen has reached settlements with 200,000 of the 260,000 claimants participating in a class action lawsuit brought by German consumer group…
US Rapper, The Game Loses Record Label And Profits From Latest Album To Sexual Assault Accuser
The record label of American rapper, The Game and all profits from the sale of his last album “Born 2…
Nigeria: Lagos State Governor, Sanwo-Olu Orders Mass Production Of Local Masks
Lagos State Governor, Babajide Sanwo-Olu has ordered mass production of locally made masks in a bid to halt spread of…
Coronavirus: Europe Needs €1 Trillion To Recover
Pandemic wracked Europe will need at least another 500 billion euros from European Union institutions to finance its economic recovery.…
AfDB Denies Funding Pipeline Project
The African Development Bank (AfDB) has described as inaccurate news article stating it plans to provide financial support to the…
IMF Urges African Countries To Remain Committed To AfCFTA
The Managing Director, International Monetary Fund (IMF) Mrs. Kristalina Georgieva has advised Africa not to deviate from its plans…
The Nigerian Stock Exchange Extends Financial Statements Filling Deadline For Firms
The Nigerian Stock Exchange (NSE) has extended the due date for the submission of the audited financial statements (AFS)…
Nigeria’s Economy Beyond COVID-19
The Nigerian economy is currently in dire straits with major economic indicators looking grim amidst increasing vulnerabilities. The disruption…
Nigeria Report: Investment-led Strategy Critical for Economic Recovery – Bismarck Rewane
The Managing Director, Financial Derivatives Company Limited and a member of President Muhammadu Buhari’s Economic Advisory Council (EAC), Mr. Bismarck…
Sanofi Partners GSK on Vaccine against COVID-19
GlaxoSmithKline and Sanofi will join forces to speed up production of a vaccine. Sanofi’s flu vaccine will be added to GSK’s booster to make doses last longer. Trials will start in the middle of this year with a drug likely available mid-2021.
Consumer Spending Will Drop After The Great Stockpiling: Capital Economics
Consumer spending across the world is expected to take a hit in the second quarter of 2020 as sheltering in…
U.S Stocks Post Gain For Second Straight Week
US stocks soared on Friday, giving markets their second week of gains in a row. This hasn’t happened since the first half of February.…
Nigeria: How To Access N50bn COVID-19 Intervention Fund – CBN
The Central Bank of Nigeria says interested stakeholders must meet its set criteria to access its N50bn intervention loans for…
Nigeria’s Central Bank N50bn COVID-19 Fund: NIRSAL MFB Waives Business Plans
The NIRSAL Microfinance Bank (NMFB) has waived Business Plans as a mandatory requirement for loan applications from interested members of…
Investors Fired Up By Signs Experimental Drug Can Treat Coronavirus
Investors around the world are fired up by signs that an experimental drug made by Gilead Sciences is helping some…
UK Not Thinking Of Easing Virus Lockdown Measures Yet, Minister Says
Britain is not considering lifting the lockdown enacted almost four weeks ago to control the coronavirus outbreak given “deeply worrying”…
Canada-U.S Border Restrictions Extended For Another 30 Days
Canada and the United States have agreed to extend border restrictions for another 30 days to help control the spread…
U.S. Banks Seek Term Changes As Fed Finalizes Main Street Lending Program
U.S. banks are pushing the Federal Reserve to change the terms of a $600 billion lending program for small and…
Coronavirus: Queen Elizabeth Cancels Birthday Plans
Britain’s Queen Elizabeth will not celebrate her 94th birthday in any special way and has asked that there be no…
Nigerian Customs Seize Smuggled Goods, Including Rice Worth N1.77bn
The Ogun Area 1 Command of the Nigeria Customs Service has intercepted 14,951 bags of foreign rice smuggled into the…
Ford Raises $8 billion Debt Securities After Virus Causes $2 billion Loss
Ford Motor Co (F.N) on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as…
United Says Demand For Travel Is ‘Essentially Zero’ And Signals Layoffs
Air passenger traffic has virtually vanished, prompting airlines to slash their schedules. But cargo still needs to move by air.…
Lagos Sex Workers Slash Rates To Attract Customers During Lockdown
The noisome ambience reeked of marijuana and cigarettes as our correspondent walked down Ipodo Street on Tuesday evening. Sitting on…
Depressed Demand In Global Oil Market Forces Nigeria’s Bonny Light to $12
The dire effect of the Coronavirus pandemic on global demand for crude oil has hit Nigeria hard with one of…
Walmart Plans To Hire 50,000 Additional Employees To Keep Up With Demand
said Friday that it has reached its goal of hiring 150,000 additional employees. Now, it said it plans to add 50,000…