World How Post-Pandemic Office Spaces Could Change Corporate Culture May 19, 2020 Ekemini By now it’s very clear that the coronavirus pandemic will change the way we work in offices — perhaps indefinitely. Less certain is the impact these physical and structural changes…
Business Walmart’s Same-Store Sales Rise 10%, Online Revenues Surge May 19, 2020 Ekemini Walmart Inc’s (WMT.N) first-quarter U.S. comparable sales rose 10% and the retailer reported a 74% rise in online revenue on Tuesday as stockpiling of groceries and other staples drove consumers…
Local Oil Production Cut Will Deepen Nigeria’s Recession, Says Fitch May 19, 2020 Ekemini A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic…
Investing Nasdaq To Tighten Listing Rules, Restricting Chinese IPOs May 19, 2020 Ekemini Nasdaq Inc (NDAQ.O) is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it harder for some Chinese companies to debut on its stock…
World Coronavirus: UK Jobless Claims Increased By 70% in April May 19, 2020 Ekemini The number of people claiming unemployment benefits in the U.K. soared in April, as the coronavirus outbreak created mass job losses in the country, the latest data showed. U.K. jobless…
Technology Huawei Says New US Sanctions Puts Its Survival At Stake May 18, 2020 Ekemini Huawei has warned that its survival is at stake following the US government’s latest efforts to cut the Chinese company off from international semiconductor supplies. In its first official reaction…
Business SoftBank Values WeWork At $2.9 billion, Down From $47 Billion A Year Ago May 18, 2020 Ekemini SoftBank Founder and CEO Masayoshi Son said Monday he was “foolish” for his firm’s multibillion investment in WeWork. His comment in an earnings presentation came as SoftBank gave WeWork a…
Opinion Are Oil Prices Rising Too High Too Soon? May 18, 2020 Ekemini Oil prices have rallied significantly, rising $10 in two weeks as markets are increasingly convinced that global demand for crude is picking up once again. Deep output cuts and the…
World Germany, France Propose 500 Billion-Euro EU Economic Recovery Fund May 18, 2020 Ekemini The leaders of Germany and France proposed Monday a 500 billion-euro ($543 billion) recovery fund for European economies hit by pandemic. In a joint statement, German Chancellor Angela Merkel and…
Business SoftBank Is Selling Parts Of Its T-Mobile Stake In A Secondary Offering May 18, 2020 Ekemini 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 offering, sources told CNBC.…
Business Uber Cuts 23% Of Its Workforce, To Focus On Ride-Hailing And Food Delivery May 18, 2020 Ekemini Uber Technologies Inc (UBER.N) will concentrate on its core businesses in ride-hailing and food delivery and cut 23% of its workforce in an attempt to become profitable despite the coronavirus…
World Japan Slips Into Recession As Coronavirus Takes Toll May 18, 2020 Ekemini Japan has fallen into recession for the first time since 2015 as the financial toll of the coronavirus continues to escalate. The world’s third biggest economy shrank at an annual…
Local Nigeria: FG Refineries Suffer N19bn Loss In Two Months May 18, 2020 Ekemini The refineries owned by the Federal Government recorded a total loss of N18.96bn in the first two months of this year, the Nigerian National Petroleum Corporation has said. Latest data…
Local Nigeria: President Buhari Extends Gradual Ease Of Lockdown By Two More Weeks May 18, 2020 Ekemini The Federal Government, on Monday, said the recent order of the President, Major General Muhammadu Buhari (retd.), on gradual ease of lockdown will remain in force for another two weeks.…
World UK Aims To Roll Out 30 Million Doses Of Coronavirus Vaccine By September May 18, 2020 Ekemini The U.K. could roll out 30 million doses of a Covid-19 vaccine as early as September, according to the British government. In an announcement on Sunday, the government said the…
Local Jack Ma Quits SoftBank’s Board As Its Vision Fund Posts A Record $18 billion Loss May 18, 2020 Ekemini Alibaba founder Jack Ma is stepping down from the board of SoftBank after the company’s Vision Fund posted record-breaking losses of $18 billion. Ma, whose $41.8 billion net worth makes…
Business Ryanair To Cut Up To 3000 Jobs May 18, 2020 Ekemini Ryanair is negotiating pay cuts, unpaid leave and up to 3,000 job losses with its employees and trade unions, as coronavirus reduced passenger numbers at the airline by over 5…
Business Workers Who Still Have Their Jobs Are Happier But Working Harder May 18, 2020 Ekemini 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 turned kitchen tables into workspaces, Zoom meetings have…
Local Outdoor Furniture Sales Grow As Customers Prepare For A Summer At Home May 18, 2020 Ekemini With the travel industry crushed by the coronavirus pandemic, it’s more than likely that people will be staying close to home this summer. Furniture and home goods retailers are reporting…
Local NIgeria: FG Impounds British Aircraft In Lagos, Begins Investigation May 18, 2020 Ekemini The Federal Government on Sunday impounded an aircraft belonging to a British company, FlairJet for operating commercial flights into the Murtala Muhammed International Airport, Lagos despite the ban on such…
Business U.S. Auto Industry To Begin Reopening Plants In Recovery From Pandemic May 18, 2020 Ekemini The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers gearing up in support as the sector that employs nearly…
Investing Oil And European Shares Rise As Lockdowns Ease; Gold Jumps May 18, 2020 Ekemini European stock markets rose on Monday and oil prices climbed to their highest in as much as two months as a loosening of coronavirus shutdowns boosted market sentiment, even though…
Local Nigeria: CBN Naira Defence Depletes Foreign Reserves By $3.17bn May 18, 2020 Ekemini Forex scarcity due to falling crude oil price forced the Central Bank of Nigeria to access the country’s foreign reserves to make forex available in the economy; NIKE POPOOLA reports…
Business Coronavirus: Emirates Plans To Cut About 30,000 Jobs May 17, 2020 Ekemini Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30% from more than…
Business Uber To Require All Users And Drivers To Wear Face Masks Before Embarking On Every Journey From Monday May 17, 2020 Ekemini Uber will from Monday require all riders and drivers to wear face masks or coverings before embarking on a journey, according to new guidelines published as coronavirus restrictions around the…
Investing Buffett Sells More Stocks, Including Goldman Sachs, Without No Big Acquisitions In The Horizon May 17, 2020 Ekemini Billionaire investor Warren Buffett, who told investors earlier this month that he had made a “mistake” betting on airlines, is continuing to sell stocks amid the coronavirus pandemic, the latest…
World As Oil Prices Continue To Slump, Saudi Arabia Increases Taxes And Cut Spending May 17, 2020 Ekemini Saudi Arabia’s economic downturn is about to worsen. Already reeling from the slump in oil prices and lockdowns to halt the spread of the coronavirus, the kingdom has now increased…
World A Month After Negative Oil Prices, U.S. Crude Contracts Expiry Looms May 17, 2020 Ekemini A month after sellers had to pay nearly $40 a barrel to get rid of U.S. oil futures, the next watershed moment looms with the expiry of the June contract…
World Italy Looks To Reopen Borders Next Month As Lockdown Measure Ease May 16, 2020 Ekemini Italian Prime Minister Giuseppe Conte outlined a further loosening of movement restrictions on Saturday, including opening borders to travellers from Europe from next month to unwind one of the world’s…
World How The Pandemic May Change The Way We Grocery Shop May 16, 2020 Ekemini Gone are the days of leisurely browsing the aisles of grocery stores. Instead, customers are getting used to new grocery store fixtures: Mask-wearing employees, plexiglass barriers at cash registers, one-way…
