Huawei Says New US Sanctions Puts Its Survival At Stake
Huawei has warned that its survival is at stake following the US government’s latest efforts to cut the Chinese company…
Day: May 18, 2020
SoftBank Values WeWork At $2.9 billion, Down From $47 Billion A Year Ago
SoftBank Founder and CEO Masayoshi Son said Monday he was “foolish” for his firm’s multibillion investment in WeWork. His comment in an…
Are Oil Prices Rising Too High Too Soon?
Oil prices have rallied significantly, rising $10 in two weeks as markets are increasingly convinced that global demand for crude…
Germany, France Propose 500 Billion-Euro EU Economic Recovery Fund
The leaders of Germany and France proposed Monday a 500 billion-euro ($543 billion) recovery fund for European economies hit by…
SoftBank Is Selling Parts Of Its T-Mobile Stake In A Secondary Offering
SoftBank is selling part of its stake in T-Mobile through a secondary offering, CNBC’s David Faber reported Monday. Morgan Stanley and Goldman Sachs will underwrite the…
Uber Cuts 23% Of Its Workforce, To Focus On Ride-Hailing And Food Delivery
Uber Technologies Inc (UBER.N) will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its…
Japan Slips Into Recession As Coronavirus Takes Toll
Japan has fallen into recession for the first time since 2015 as the financial toll of the coronavirus continues to…
Nigeria: FG Refineries Suffer N19bn Loss In Two Months
The refineries owned by the Federal Government recorded a total loss of N18.96bn in the first two months of this…
Nigeria: President Buhari Extends Gradual Ease Of Lockdown By Two More Weeks
The Federal Government, on Monday, said the recent order of the President, Major General Muhammadu Buhari (retd.), on gradual ease…
UK Aims To Roll Out 30 Million Doses Of Coronavirus Vaccine By September
The U.K. could roll out 30 million doses of a Covid-19 vaccine as early as September, according to the British…
Jack Ma Quits SoftBank’s Board As Its Vision Fund Posts A Record $18 billion Loss
Alibaba founder Jack Ma is stepping down from the board of SoftBank after the company’s Vision Fund posted record-breaking losses…
Ryanair To Cut Up To 3000 Jobs
Ryanair is negotiating pay cuts, unpaid leave and up to 3,000 job losses with its employees and trade unions, as coronavirus…
Workers Who Still Have Their Jobs Are Happier But Working Harder
Since Covid-19 shelter-in-place orders came into effect in the U.S. in mid-March, the workforce has undergone a complete transformation. Remote work has…
Outdoor Furniture Sales Grow As Customers Prepare For A Summer At Home
With the travel industry crushed by the coronavirus pandemic, it’s more than likely that people will be staying close to…
NIgeria: FG Impounds British Aircraft In Lagos, Begins Investigation
The Federal Government on Sunday impounded an aircraft belonging to a British company, FlairJet for operating commercial flights into the…
U.S. Auto Industry To Begin Reopening Plants In Recovery From Pandemic
The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers…
Oil And European Shares Rise As Lockdowns Ease; Gold Jumps
European stock markets rose on Monday and oil prices climbed to their highest in as much as two months as…
Nigeria: CBN Naira Defence Depletes Foreign Reserves By $3.17bn
Forex scarcity due to falling crude oil price forced the Central Bank of Nigeria to access the country’s foreign reserves…