Business Bankrupted JC Penney Plans To Spin Its Properties Into Separate Real Estate Company May 16, 2020 Ekemini A piece of J.C. Penney’s proposal to emerge from bankruptcy includes spinning its real estate into a publicly traded real estate investment trust. As part of a plan filed with…
World Coronavirus: Millions Of Americans Could Retire Into Poverty May 16, 2020 Ekemini Labor economist Teresa Ghilarducci began studying retirement in 2008, when the Great Recession was making it impossible for millions of Americans to retire. “The phenomenon of Granny working in McDonald’s…
Features Tips World How Would Negative Interest Rates Affect Mortgages? May 16, 2020 Ekemini The Federal Reserve hasn’t left itself much room to keep using interest rates to battle the coronavirus, which Fed Chairman Jerome Powell says is worse than anything the U.S. economy…
Local Nigeria: FG, States, LGs Share N606.196bn, Revenue Drops By N227.265bn May 16, 2020 Ekemini The Federation Accounts Allocation Committee has shared a total of N606.196bn for April revenue to the federal, states and local governments. The development was announced in a communique released after…
Business California Officials Reject Subsidies For Musk’s SpaceX Over Tesla Spat May 16, 2020 Ekemini A California state panel on Friday rejected a request from Elon Musk’s SpaceX for $655,500 in state job and training funds, citing the chief executive’s recent threats to move Tesla,…
World Trump Administration Reportedly Set To Restore Partial Funding To World Health Organization May 16, 2020 Ekemini U.S. President Donald Trump’s administration is set to restore partial funding to the World Health Organization, Fox News reported late on Friday, citing a draft letter. The Trump administration will…
World China Asks United States To Stop ‘Unreasonable Suppression’ Of Huawei May 16, 2020 Ekemini China’s foreign ministry said on Saturday the United States needed to stop the “unreasonable suppression” of Chinese companies like Huawei. The Trump administration on Friday moved to block global chip…
World House Democrats Pass $3 trillion Coronavirus Relief Package May 16, 2020 Ekemini House Democrats on Friday passed a $3 trillion coronavirus relief package, unprecedented spending Senate Republicans have pledged to block as the major parties struggle to find a path forward on…
Investing Saudi Wealth Fund Boosts U.S. Holdings With Stakes In Citi, Boeing, Facebook May 16, 2020 Ekemini Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing (BA.N), Facebook (FB.O) and Citigroup (C.N), a regulatory filing showed, giving it a portfolio of…
Business J. C. Penny Files For Bankruptcy May 16, 2020 Ekemini J.C. Penney Co Inc filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale, making it the latest brick-and-mortar retailer to…
Business Elon Musk’s Boring Company Completes Second Tunnel In Las Vegas May 15, 2020 Ekemini The Boring Company, Elon Musk’s underground transportation project, has completed work on a second tunnel in Las Vegas. Musk, who also runs Tesla and SpaceX, confirmed its completion in a…
Business Fitbit Plans To Make Emergency Ventilators For Covid-19 May 15, 2020 Ekemini Fitbit, which makes wearable devices including fitness-trackers, is shifting its supply chain to make emergency-use ventilators, CEO James Park told CNBC. The company is submitting its technology to the U.S.…
World Mike Bloomberg Plots Spending Blitz To Support Joe Biden’s Run For President May 15, 2020 Ekemini Billionaire and former presidential candidate Mike Bloomberg is plotting a massive spending blitz to back Joe Biden’s quest for the White House. The former New York mayor and his closest…
World Could Jeff Bezos Really Become The World’s First Trillionaire By 2026? May 15, 2020 Ekemini Jeff Bezos is already the world’s wealthiest person by a healthy margin and he’s the founder and CEO of one of the world’s few trillion-dollar companies. But before this decade…
Technology Facebook Is Building A Huge Undersea Cable Around Africa To Boost Internet Access In The Continent May 15, 2020 Ekemini Facebook is building a massive underwater cable around Africa, in an effort to bring more of the continent’s 1.3 billion inhabitants online. The social media company has partnered with the…
Local Nigeria: Currency In Circulation Rises By N11.38bn In One Month May 15, 2020 Ekemini The total currency in circulation in the country rose to N2.3tn as of April 30 from N2.29tn on March 31, 2020. Latest statistics obtained from the Central Bank of Nigeria…
Local Nigeria: Borrowers Complain As MfBs Demand Loan Repayment May 15, 2020 Ekemini Some borrowers from microfinance banks have decried their exemption from loan tenor extension in the banking industry, which some commercial banks introduced for their borrowers to soften the effect of…
Business Mark Cuban Believes The Market Is Overvalued May 15, 2020 Ekemini Shark Tank” investor Mark Cuban believes the market is overvalued as coronavirus induced uncertainty over consumer spending persists. The Missing Demand Attired in a Dallas Mavericks t-shirt, Cuban told CNBC’s…
World Saudi Oil Rush Threatens To Disrupt Stabilizing U.S. Market May 15, 2020 Ekemini An armada of tankers filled with Saudi Arabian crude steaming toward the U.S. threatens to prevent America’s oil glut from draining, which is only just beginning. Over 30 ships are…
World China Ready To Put Apple, Other U.S. Companies In ‘Unreliable Entity List’ May 15, 2020 Ekemini China is ready to put U.S. companies in an “unreliable entity list,” as part of countermeasures against Washington’s move to block shipments of semiconductors to Huawei Technologies, the Global Times…
Technology U.S. Moves To Cut Huawei Off From Global Chip Suppliers As China Eyes Retaliation May 15, 2020 Ekemini The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies , spurring fears of Chinese retaliation and hammering shares of U.S. producers…
World China’s Unemployment Rises As Coronavirus Wrecks More Havoc On Economy May 15, 2020 Ekemini The unemployment rate in China remained near historic highs in April, highlighting the challenges the world’s second-largest economy still faces in recovering fully from the economic shock of the coronavirus.…
World Slovenia Becomes First European Nation To Declare An End To Its Coronavirus Epidemic May 15, 2020 Ekemini Slovenia has become the first European country to declare its domestic coronavirus outbreak officially over. The country’s government confirmed in a statement on Friday that its Covid-19 epidemic had ended,…
Investing Netflix Hits A Record High, And Trader Says One Level Holds May 15, 2020 Ekemini Netflix hit a record high after Jefferies gave three reasons to buy the stock. In the firm’s pro column, analysts said the potential for double-digit subscriber growth, improving margins and…
World German Economy Posts Sharpest Contraction Since The Financial Crisis May 15, 2020 Ekemini German GDP (gross domestic product) shrank by 2.2% in the first quarter compared to the final three months of 2019, official preliminary statistics revealed Friday. The contraction, fueled by the…
World Oil Records Second Monthly Drop, Unsold Cargoes Increase May 15, 2020 Ekemini Crude oil in the Organisation of Petroleum Exporting Countries reference basket dropped for the second consecutive month in April, shedding 48 per cent of its worth, as cargoes of unsold…
Breaking Airline Industry Not Likely To Recover For At Least A Year: Southwest CEO May 15, 2020 Ekemini The airline industry is not likely to recover to pre-coronavirus levels for at least the next six to 12 months, Southwest Airlines Co (LUV.N) Chief Executive Officer Gary Kelly said…
Investing World Stocks Win A Respite, Oil Prices Jump Over 3% May 15, 2020 Ekemini World stocks rose on Friday and oil prices jumped more than 3%, taking the sting out of a week that has seen sentiment hit as deteriorating U.S.-China relations added to…
World UK Announces £1.6bn Bailout For London’s Transport System May 15, 2020 Ekemini The British government will pump £1.6 billion into London’s public transport system to restore services and help prevent overcrowding as people return to work, operator Transport for London (TfL) said…
Business A London-Based Trading House Bought 250,000 Barrels Of Oils During The Historic Plunge Below $0, And Likely Made A Fortune May 15, 2020 Ekemini One trader bought 250,000 barrels of oil and secured a rare payout at a time when oil prices turned negative, causing jitters in markets and leaving most other traders scrambling…
