Pfizer To Outsource Some Drug Production, Focus On Coronavirus Vaccine
Pfizer Inc (PFE.N) said on Friday it is in talks to shift more of its medicine production to outside contractors…
Month: May 2020
Coronavirus Inflicts Huge U.S. Job Losses As Pandemic Breaches White House Walls
The U.S. government reported more catastrophic economic fallout from the coronavirus crisis on Friday as the pandemic pierced the very…
Coronavirus: US To Borrow Record $3tn As Spending Soars
The US has said it wants to borrow a record $3tn (£2.4tn) in the second quarter, as coronavirus-related rescue packages…
Coronavirus Sends U.S Unemployment Rate To 14.7%
The US unemployment rate has risen to 14.7%, with 20.5 million jobs lost in April, as the coronavirus pandemic devastated…
80 Million Chinese May Already Be Out Of Work
Wang is used to job hunting in China. The 26-year old tech worker spent the last year jumping from one…
Uber Says ‘No Sacred Cows’ Amid Coronavirus Crisis
Uber has warned it may scale back parts of the business as it tries to navigate through the coronavirus crisis.…
Nigeria: Petrol Price Reduction Won’t Be Immediate, Says Marketers
The latest reduction in the ex-depot price of petrol to N108 per litre will not translate to an immediate drop…
What Will Staying In A Hotel Look Like In The Near Future?
Goodbye, breakfast buffets and bellhop service. Hello, temperature screening and keyless check-in. While pandemic-era policies are still being developed at…
U.S., China Trade Officials Press Ahead With ‘Phase 1’ Deal As Trump Mulls Termination
U.S. President Donald Trump, critical of China’s early handling of the coronavirus outbreak in the city of Wuhan in late…
Walmart And Other U.S Superstores Are Still Hiring As Other Industries Purge Workers
Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc (WMT.N),…
J.C. Penney To File For Bankruptcy As Soon As Next Week
J.C. Penney Co Inc (JCP.N) is preparing to file for bankruptcy protection as soon as next week with plans to…
Tesla Aims To Restart Fremont Plant On Friday
Tesla Inc is aiming to restart production in its U.S. car plant in Fremont, California on Friday afternoon, according to…
Canada Loses Record 2 Million Jobs; Temporary Layoffs Hide Extent Of Damage
Canada lost a record-breaking 2.0 million jobs in April while the unemployment rate surged to a near-record high 13.0%, according…
Markets Start Pricing In Negative U.S. Interest Rates For First Time
Financial markets began pricing in a negative U.S. interest rate environment for the first time on Thursday, a place the…
Africa’s Wealthiest City Says 1 Million People Need Food Aid
Almost one million people in Johannesburg, South Africa’s commercial hub, are in need of food aid due to movement restrictions…
US Unemployment Claims Hit 33.3 million Amid Virus
A further 3.2 million Americans sought unemployment benefits last week as the economic toll from the coronavirus pandemic continued to…
South African MPs’ Zoom Meeting Hacked With Porn
A virtual meeting held by a South African parliamentary committee has been hacked and the speaker abused. The programming committee’s…
Wave of U.S. Bankruptcies Builds Toward Worst Run in Many Years
First, J. Crew. Now Neiman Marcus. Flashing red: J.C. Penney, Hertz and many more. Get ready for what could be…
NY Gov. Cuomo Says He Won’t Sacrifice Human Lives to Reopen The Economy
New York Gov. Andrew Cuomo said Thursday that he’s not willing to trade people’s lives to reopen the state’s economy, saying it’s…
Oil Slips With Glut Concerns Reversing Saudi Price Hike Boost
Oil fell in a day of wild price swings as investors weighed supply-and-demand fundamentals against Saudi Arabia’s global price hike.…
Facebook Will Allow Most Employees To Work From Home Through End Of 2020
Facebook CEO Mark Zuckerberg will announce Thursday that most of its employees will be allowed to continue to work from home…
Wall Street Gets PayPal Lift As Nasdaq Wipes Out 2020 Declines
Wall Street’s indexes climbed on Thursday, with the Nasdaq erasing losses for 2020, following a clutch of upbeat earnings reports…
Uber Posts $2.9 billion Loss, But Sees Encouraging Signs In Reopening Markets
Uber Technologies Inc (UBER.N) said on Thursday it saw encouraging signs in markets hit by the coronavirus epidemic as it…
Dropbox Quarterly Revenue Beats Estimates
Dropbox Inc’s (DBX.O) quarterly revenue beat Wall Street estimates on Thursday, as the file-hosting company signed up more paying customers…
Why Disney+ Is Now A Blessing And A Burden For Disney
The coronavirus pandemic hobbled Disney’s media empire — except for one, major success story: Disney+. The company’s new streaming service,…
The US Is Becoming The King Of Debt. It’s A Necessary Risk
President Donald Trump is living up to his self-given nickname “King of Debt.” On his watch, the United States has…
Nintendo Profits Soar 41%, Mainly From ‘Animal Crossing’
The success of the Nintendo Switch during the coronavirus pandemic propelled the Japanese video company to a banner year. Nintendo…
Nigeria: Despite Lockdown, Stock Market Investors Gain N897bn
Notwithstanding the lockdown the Nigerian economy witnessed in April over the ravaging CODIV-19 pandemic, the stock market, boosted by the…
Aviation Industry – The Shape Of Things To Come
Things have fallen apart in global aviation since COVID-19 pandemic enveloped the sector. Airlines, airport authorities, ground handling companies, passenger…
Virgin Media And O2 Agree On $39 Billion Merger To Create A New UK Telecom Giant
Liberty Global and Telefonica have agreed to combine their U.K. operations in a deal that will create a new giant in the country’s…