Disney Earnings Plummet More Than 90% As Coronavirus Wipes Out More Than $1 Billion
Walt Disney Co. profit dove more than 90% in the second quarter, an example of the drastic effects on the…
Day: May 5, 2020
Nigeria: Budget: FG To Revise Oil Benchmark To $20 Per Barrel
The Federal Government on Tuesday revealed plans to cut the oil price benchmark for the 2020 budget to $20 per…
U.S. Trade Deficit Widens, Services Sector Contracts Amid Coronavirus
The U.S. trade deficit increased by the most in more than a year in March as a record drop in…
California Sues Uber, Lyft Over Misclassifying Drivers As Contractors
California and three of its largest cities on Tuesday sued Uber Technologies Inc (UBER.N) and Lyft Inc (LYFT.O), accusing them…
BMW Cuts Margin Outlook For Cars Division, Citing Coronavirus Woes
BMW (BMWG.DE) on Tuesday lowered the outlook for the profitability of its automotive and motorcycles divisions, citing worse-than-expected demand which…
Lyft Offers New Cheaper Rides With More Waiting Time
Lyft Inc (LYFT.O) said on Tuesday it would expand its program that provides cheaper rides to customers willing to wait…
Airbnb To Lay Off 1,900 Employees
Airbnb Inc is laying off 25% of its workforce due to the coronavirus pandemic, impacting nearly 1,900 employees of the…
Nigeria Cocoa Exports Stalled Over Covid-19 Safety Protocols
Health protocols introduced by Nigerian authorities to curb the spread of the Covid-19 disease have delayed cocoa exports, leaving at…
Why There’s A Looming Debt Crisis In Emerging Markets
Solvency concerns in the developing world are nothing new. But as governments stare down the humanitarian and economic shocks of…
Digital Purchases To Be Taxed At 1.5% In Kenya
Kenya plans a 1.5% digital tax on the value of online transactions, according to proposals in the Finance Bill 2020,…
Virgin Atlantic To Cut 3,150 Jobs; Move Flights To Heathrow From Gatwick
British airline Virgin Atlantic said on Tuesday it planned to cut 3,150 jobs and would move its flying programme from…
Fiat Chrysler Plunges To Loss, But No Change To PSA Deal
Fiat Chrysler Automobiles (FCA) plunged to a first-quarter loss of $1.8 billion and scrapped its full-year earnings forecast on Tuesday,…
Trump Allies On The Sidelines In Supreme Court Financial Records Fight
Congressional Republicans who strenuously objected when a Democratic-led U.S. House of Representatives panel subpoenaed President Donald Trump’s financial records last…
Lufthansa Has No Plans To Buy Rivals Hit By Coronavirus Crisis
Lufthansa (LHAG.DE) is not planning to buy rivals weakened by the coronavirus crisis, Chief Executive Carsten Spohr told shareholders at…
France Accuses Apple Of Refusing To Help With ‘StopCovid’ App
France accused Apple APPL.O on Tuesday of undermining its effort to fight the coronavirus by refusing to help make its…
Nigeria: Naira Gains, Exchanges 430/$ As Forex Sale Resumes
The naira sold for N430 to a dollar on Monday, gaining some strength over previous week’s sales figures, following the…
Oil Prices Rise As Countries Ease Lockdown
Oil extended gains in Asia Tuesday on signs of improving demand as coronavirus-hit major economies begin to ease strict curbs…
Coronavirus: Why Are Some African States Easing Lockdowns?
African countries have fewer coronavirus cases than much of the world, but weaker healthcare systems do put the continent at…
New Zealand PM: No Open Borders For ‘A Long Time’
New Zealand Prime Minister Jacinda Ardern says the country will not have open borders with the rest of the world…
European Markets Recover After Day Of Heavy Selling
European markets bounced back on Tuesday after a session of steep losses, spurred by a late rally for Wall Street…
FCMB Issues Official Statement On Collapse Of Customer At Onipanu Branch; Debunks COVID-19 Claims
Leading Nigerian financial institution, First City Monument bank (FCMB) has issued an official statement to address the video making rounds…
Market Wrap
Risk assets had been hit amid earnings, geopolitical worries. Japan, China, South Korean markets are closed on Tuesday
Covid-19 Global Virus update
U.S. President Donald Trump said some states “aren’t going fast enough” to reopen, even as he acknowledged that the nation’s death count would likely be higher than he had predicted. Globally, deaths topped 250,000. Trump accused Beijing of attempting a cover-up and promised a conclusive report on the pandemic’s origins.
Scientists created a monoclonal antibody that can defeat the new coronavirus in the lab, an early but promising step. U.S. researchers will track thousands of children to determine how they’re affected by the pathogen.
The worst-hit countries in Europe moved to ease curbs as cases slowed. Italy began to reopen its economy after two months, but the premier was criticized for being too cautious, and Spain started to relax its lockdown regime after weeks of confinement.
Why There’s a Looming Debt Crisis In Emerging Markets
Solvency concerns in the developing world are nothing new. But as governments stare down the humanitarian and economic shocks…