World Argentina On The Brink Of Its Ninth Sovereign Default May 7, 2020 Ekemini Argentina is highly likely to slip into default this month, analysts have told CNBC, as the crisis-prone South American country enters a critical period of make-or-break talks with international creditors.…
World Bank Of England Warns Of Deepest Recession On Record May 7, 2020 Ekemini The Bank of England has warned that the UK economy is heading towards its deepest recession on record. The impact of coronavirus meant economy would shrink 14% this year, based…
World How The Coronavirus Will Change Office Spaces May 7, 2020 Ekemini Offices have been trending toward open workspaces for over a decade, as employers look to boost collaboration and maximize use of space. But as states begin to lift shelter-in-place orders…
World Tesla Billionaire Elon Musk Set For $720m Pay Day May 7, 2020 Ekemini Tesla’s (TSLA) billionaire chief Elon Musk is about to get even richer. Musk, who is worth $39.4bn according to Forbes, is set for a $720m (£582m) pay out from his…
Investing European Markets Rise On Hopes Of ‘Rapid’ Recovery May 7, 2020 Ekemini European markets opened higher on Thursday, as hopes grew of a “relatively rapid” recovery amid new central bank forecasts and Chinese export data. The pan-European Stoxx 50 index (^STOXX50E) was…
Local Nigeria: NNPC Reduces Ex-Depot Price Of Petrol To N108 May 6, 2020 Ekemini The Nigerian National Petroleum Corporation (NNPC) has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS) from N113.28k per litre to N108.00K per litre across all its…
World Spain Lawmakers Extend COVID-19 State Of Emergency May 6, 2020 Ekemini Spain’s parliament on Wednesday voted to extend the country’s state of emergency, allowing stringent coronavirus lockdown measures to remain in place for at least two more weeks. The government imposed…
World Polish Ruling Parties Strike Deal To Postpone Presidential Election May 6, 2020 Ekemini Poland’s ruling Law and Justice (PiS) party and its junior coalition partner reached a deal to allow for a presidential election scheduled for Sunday to be held at a later…
Business Lyft Sees Rider Demand Improve In Late April, ‘On Path To Profitability’ May 6, 2020 Ekemini Lyft Inc (LYFT.O) on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying ridership hit by the coronavirus pandemic had improved in late…
Business T-Mobile Beats Phone Subscriber Estimates As Lockdown Creates Demand Surge May 6, 2020 Ekemini T-Mobile US Inc (TMUS.O) added more monthly bill paying phone subscribers than expected in the first quarter, thanks to a surge in demand for cheaper phone services as people work…
Africa South African Business Calls For Accelerated Restart of Economy May 6, 2020 Ekemini South Africa’s biggest business grouping urged the government to accelerate its phased approach to restarting the economy, days after the state began easing a strict nationwide lockdown to control the…
Local Coronavirus: EU Facing ‘Deep And Uneven Recession’ May 6, 2020 Ekemini The European Union faces a deep and uneven recession, according to a new forecast from the EU’s Commission. The bloc’s executive arm predicts a recovery in 2021 but warns that…
Local Germany Says Football Can Resume And Reopen Shops As Lockdown Is Eased May 6, 2020 Ekemini Chancellor Angela Merkel has said Germany’s goal of slowing the spread of coronavirus has been achieved, so all shops can be reopened as lockdown restrictions are eased. Bundesliga football has…
Local Nigeria: FG Extends Flight Ban By Four Weeks May 6, 2020 Ekemini The federal government has extended the ban imposed on local and international flights by four weeks. President Muhammadu Buhari had approved the ban on flights to check the spread of…
Local Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years May 6, 2020 Ekemini Despite Brent-crude futures rallying in recent weeks, Nigeria, is facing a fast-looming future without reliance on fiscal revenue from its massive oil wealth, Bloomberg has reported. Amid the economic fallout…
World Pfizer Begins Human Testing For Experimental Coronavirus Vaccine In The US May 6, 2020 Ekemini 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 is working alongside German drugmaker BioNTech, said…
Business General Motors Posts $294 Million Profit In The First Quarter Despite Crippling Production And Sales From Coronavirus May 6, 2020 Ekemini General Motors said Wednesday it eked out a $294 million profit for the first quarter despite the fallout from the coronavirus pandemic that has shuttered factories and devastated sales. That…
Business GM To Practice Social Distancing At Car Factories Once They Reopen May 6, 2020 Ekemini GM’s factories in North America will reopen for the business of making cars on May 18, the automaker revealed in its first quarter earnings release on Wednesday. But to pull…
World Stocks Shed Gains, As American Private Sector Cuts 20.2 Million Jobs in April May 6, 2020 Ekemini Stocks pared some gains Wednesday to trade little changed, as investors continued to price in the possibility of more states relaxing restrictive stay-at-home orders that have decimated U.S. economic growth.…
Business Where’s The beef? Wendy’s Turns To Chicken To Prop Up Sales May 6, 2020 Ekemini Wendy’s Co (WEN.O) said on Wednesday it would focus on marketing its chicken products as it grapples with beef supply shortages in the United States that forced the burger chain…
Business Qatar Airways Expects To Re-Open Routes This Month May 6, 2020 Ekemini Qatar Airways said on Wednesday it would this month start to rebuild its network, in anticipation countries will ease air travel restrictions and based on monitoring of passenger trends. State-owned…
Business Samsung Heir Lee Apologises Over Succession, Won’t Hand Control To Children May 6, 2020 Ekemini Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights…
World World Shares Subdued Amid Mixed Earnings; Oil Falters May 6, 2020 Ekemini Global shares struggled on Wednesday as mixed earnings, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets. Oil prices ended an extended winning…
World U.S. Airlines Burn Through $10 Billion A Month As Traffic Plummets May 6, 2020 Ekemini U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers per domestic flight because of the coronavirus pandemic, industry trade…
Local IMF Disburses $3.4 Billion Loan To Nigeria May 6, 2020 Ekemini BARELY 24 hours after receiving $311 million Abacha loot from the United States and the Island of Jersey, the Federal Government has been handed the $3.4 billion emergency fund it…
Business Disney Earnings Plummet More Than 90% As Coronavirus Wipes Out More Than $1 Billion May 5, 2020 Ekemini Walt Disney Co. profit dove more than 90% in the second quarter, an example of the drastic effects on the company from the COVID-19 pandemic, which executives said cost the…
Local Nigeria: Budget: FG To Revise Oil Benchmark To $20 Per Barrel May 5, 2020 Ekemini The Federal Government on Tuesday revealed plans to cut the oil price benchmark for the 2020 budget to $20 per barrel. The development would make it the second time the…
World U.S. Trade Deficit Widens, Services Sector Contracts Amid Coronavirus May 5, 2020 Ekemini The U.S. trade deficit increased by the most in more than a year in March as a record drop in exports offset a shrinking import bill, suggesting the novel coronavirus…
Business California Sues Uber, Lyft Over Misclassifying Drivers As Contractors May 5, 2020 Ekemini California and three of its largest cities on Tuesday sued Uber Technologies Inc (UBER.N) and Lyft Inc (LYFT.O), accusing them of classifying their drivers improperly as independent contractors instead of…
Business BMW Cuts Margin Outlook For Cars Division, Citing Coronavirus Woes May 5, 2020 Ekemini BMW (BMWG.DE) on Tuesday lowered the outlook for the profitability of its automotive and motorcycles divisions, citing worse-than-expected demand which has been hit by measures to contain the coronavirus. BMW…
