JC Penney To close 13 More Stores
J.C. Penney is set to close 13 more stores this summer as it works toward restructuring its business in bankruptcy…
Month: June 2020
South Africa’s Budget Deficit To Widen To 14.6% Of GDP
South Africa’s budget deficit is projected to widen sharply while debt is seen ballooning significantly, the Treasury said on Wednesday, as the…
Nigeria’s Fiscal Crisis Due To Low Revenue – IMF
The International Monetary Fund has said Nigeria’s major fiscal challenge is its “very low revenue” and not so much of…
We’ll Steer Nigeria Away From Recession , Says CBN
The Central Bank of Nigeria on Wednesday said it would not be deterred in its effort to steer the Nigerian…
U.S. Doubles Bounty On ISIS Leader To $10 Million
Secretary of State Mike Pompeo announced Wednesday that the United States has doubled the bounty for the new ISIS leader…
California Wants Judge To Classify Uber, Lyft Drivers As Employees
California plans to ask a state court judge to force Uber Technologies Inc and Lyft Inc to classify their ride-hail…
Amazon Launches Cloud Service To Help Non-Coders Build Apps
Amazon cloud unit on Wednesday announced the introduction of Honeycode, a service that non-coders can use to write applications. The…
IMF Slashes Its Forecasts For The Global Economy And Warns Of Soaring Debt Levels
The International Monetary Fund slashed its economic forecasts once again on Wednesday and warned that public finances will deteriorate significantly as…
Wall Street Finishes Lower On Rising Virus Cases, Weak Economic View
Wall Street’s three major indexes on Wednesday suffered their biggest daily percentage drop in almost two weeks as a surge…
Facebook To Be Hit By Its Largest Ever Advertiser Boycott Over Racism
Facebook will be confronted with its largest ever advertiser boycott in July, as a coalition of some of America’s biggest…
Thousands Of U.S Inmates Got Relief Checks, The IRS Wants Them Back
Hundreds of thousands of dollars in coronavirus relief payments have been sent to people behind bars across the United States,…
NASA Eyes Flying Astronauts And Personnel To The Edge Of Space On Commercial Rockets
In a major policy shift for NASA, the space agency is making it possible for its own personnel — including…
EU Delays Greater Competition In Derivatives Market By A Year
The European Union said it has delayed the introduction of rules aimed at increasing competition in derivatives clearing after concerns…
WhatsApp Payments Suspended In Brazil By Central Bank
Brazil’s Central Bank has suspended Facebook’s WhatsApp payments feature in the country, just over a week after the messaging service…
Naira Falls Big At the black market as demand pressure persists
Forex turnover at the Investor and Exporters (I&E) window continued with the positive trend as it rose by 42% on…
Former Wirecard CEO Freed On Bail In Missing Billions Case
Former Wirecard (WDIG.DE) CEO Markus Braun, who was arrested on suspicion of falsifying the German payments firm’s accounts, has been…
Ex-Googler Becomes Second-Richest Person In China
A former Google employee was briefly ranked the second richest person in China, following a surge in sales at his…
Twitter Permanently Suspends Account That Created Doctored Video Tweeted By Trump
Twitter Inc has permanently suspended the account of a rightwing online personality for violating its copyright policy, a week after…
The EU Is Discussing Reopening Its Borders And US Citizens Could Remain Barred
The European Union is currently discussing how to reopen its external borders as the region looks to slowly reopen economies,…
Ben & Jerry’s Joins Boycott Of Facebook And Instagram Ads In The US
Ben & Jerry’s said on Tuesday that it will pause all paid advertising on Facebook and Instagram in the U.S.…
IMF, Sudan Reach Agreement On Macroeconomic Policies Structural Reforms
International Monetary Fund (IMF) staff and Sudan have reached agreement on macroeconomic policies structural reforms that would underpin a 12-month…
Former Wirecard Boss Arrested Over €1.9bn Scandal
The ex-boss of scandal-hit payments firm Wirecard has been arrested in Germany. Markus Braun resigned last Friday after auditor EY…
New Corovirus Outbreak In Germany Sparks Fresh Local Lockdowns
German authorities in the state of North Rhine-Westphalia have reimposed lockdown restrictions in two districts after a spike in cases,…
Nasdaq Jumps To Record Led By Apple In Longest Winning Streak Since December
The Nasdaq Composite rose to a fresh record on Tuesday with Apple leading major tech names higher as investors cheered a…
Nigeria: CBN Governor Confirms Exchange Rate Unification Plans
The Governor of the Central Bank, Godwin Emefiele, has confirmed that the Central Bank will continue to pursue unification around…
Apple Share Hits All Time High After Company Announces New Software
Apple shares hits an all time after the technology company announced new software for its iPhones, iPads, Macs, Apple TV and…
Wall Street Ends Higher On Recovery Hopes, Nasdaq Hits Another Record
Wall Street’s three major indexes closed higher on Tuesday as improving economic data and the prospect of more stimulus bolstered…
Banks Warn Debt Forgiveness Will Hurt, Not Help Africa
Scrapping the debt of heavily indebted African nations will only come back to haunt them, according to two of the…
Nigeria: Flight Resumption May Not Lead To Airfare Hike– Aviation Minister
Minister of Aviation, Mr Hadi Sirika Monday assured anxious Nigerians that the planned re-opening of the airspace for domestic flights may not equate to a hike in fares.
Crypto Market Stuck In Negative Trend With Bitcoin Below $10,000
With major digital coins failing to break out meaningfully in recent weeks, crypto markets can’t seem to pull out of…