Argentina On The Brink Of Its Ninth Sovereign Default
Argentina is highly likely to slip into default this month, analysts have told CNBC, as the crisis-prone South American country…
Month: May 2020
Bank Of England Warns Of Deepest Recession On Record
The Bank of England has warned that the UK economy is heading towards its deepest recession on record. The impact…
How The Coronavirus Will Change Office Spaces
Offices have been trending toward open workspaces for over a decade, as employers look to boost collaboration and maximize use…
Tesla Billionaire Elon Musk Set For $720m Pay Day
Tesla’s (TSLA) billionaire chief Elon Musk is about to get even richer. Musk, who is worth $39.4bn according to Forbes, is…
European Markets Rise On Hopes Of ‘Rapid’ Recovery
European markets opened higher on Thursday, as hopes grew of a “relatively rapid” recovery amid new central bank forecasts and…
Nigeria: NNPC Reduces Ex-Depot Price Of Petrol To N108
The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS) from…
Spain Lawmakers Extend COVID-19 State Of Emergency
Spain’s parliament on Wednesday voted to extend the country’s state of emergency, allowing stringent coronavirus lockdown measures to remain in…
Polish Ruling Parties Strike Deal To Postpone Presidential Election
Poland’s ruling Law and Justice (PiS) party and its junior coalition partner reached a deal to allow for a presidential…
Lyft Sees Rider Demand Improve In Late April, ‘On Path To Profitability’
Lyft Inc (LYFT.O) on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying…
T-Mobile Beats Phone Subscriber Estimates As Lockdown Creates Demand Surge
T-Mobile US Inc (TMUS.O) added more monthly bill paying phone subscribers than expected in the first quarter, thanks to a…
South African Business Calls For Accelerated Restart of Economy
South Africa’s biggest business grouping urged the government to accelerate its phased approach to restarting the economy, days after the…
Coronavirus: EU Facing ‘Deep And Uneven Recession’
The European Union faces a deep and uneven recession, according to a new forecast from the EU’s Commission. The bloc’s…
Germany Says Football Can Resume And Reopen Shops As Lockdown Is Eased
Chancellor Angela Merkel has said Germany’s goal of slowing the spread of coronavirus has been achieved, so all shops can…
Nigeria: FG Extends Flight Ban By Four Weeks
The federal government has extended the ban imposed on local and international flights by four weeks. President Muhammadu Buhari had…
Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years
Despite Brent-crude futures rallying in recent weeks, Nigeria, is facing a fast-looming future without reliance on fiscal revenue from its…
Pfizer Begins Human Testing For Experimental Coronavirus Vaccine In The US
Pfizer said Tuesday it has begun testing an experimental vaccine to combat the coronavirus in the United States. The U.S.-based pharmaceutical giant, which…
General Motors Posts $294 Million Profit In The First Quarter Despite Crippling Production And Sales From Coronavirus
General Motors said Wednesday it eked out a $294 million profit for the first quarter despite the fallout from the coronavirus pandemic that has…
GM To Practice Social Distancing At Car Factories Once They Reopen
GM’s factories in North America will reopen for the business of making cars on May 18, the automaker revealed in…
Stocks Shed Gains, As American Private Sector Cuts 20.2 Million Jobs in April
Stocks pared some gains Wednesday to trade little changed, as investors continued to price in the possibility of more states relaxing restrictive…
Where’s The beef? Wendy’s Turns To Chicken To Prop Up Sales
Wendy’s Co (WEN.O) said on Wednesday it would focus on marketing its chicken products as it grapples with beef supply…
Qatar Airways Expects To Re-Open Routes This Month
Qatar Airways said on Wednesday it would this month start to rebuild its network, in anticipation countries will ease air…
Samsung Heir Lee Apologises Over Succession, Won’t Hand Control To Children
Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession…
World Shares Subdued Amid Mixed Earnings; Oil Falters
Global shares struggled on Wednesday as mixed earnings, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast…
U.S. Airlines Burn Through $10 Billion A Month As Traffic Plummets
U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers…
IMF Disburses $3.4 Billion Loan To Nigeria
BARELY 24 hours after receiving $311 million Abacha loot from the United States and the Island of Jersey, the Federal…
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…
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…