Business JC Penney To close 13 More Stores June 24, 2020 Ekemini J.C. Penney is set to close 13 more stores this summer as it works toward restructuring its business in bankruptcy court. The department store announced Monday evening the list of…
Africa South Africa’s Budget Deficit To Widen To 14.6% Of GDP June 24, 2020 Ekemini South Africa’s budget deficit is projected to widen sharply while debt is seen ballooning significantly, the Treasury said on Wednesday, as the COVID-19 pandemic further stifles the recession-hit economy. In…
Local Nigeria’s Fiscal Crisis Due To Low Revenue – IMF June 24, 2020 Ekemini The International Monetary Fund has said Nigeria’s major fiscal challenge is its “very low revenue” and not so much of its debt profile. The low revenue, it explained, had led…
Local We’ll Steer Nigeria Away From Recession , Says CBN June 24, 2020 Ekemini The Central Bank of Nigeria on Wednesday said it would not be deterred in its effort to steer the Nigerian economy away from the looming recession due to the impact…
World U.S. Doubles Bounty On ISIS Leader To $10 Million June 24, 2020 Ekemini Secretary of State Mike Pompeo announced Wednesday that the United States has doubled the bounty for the new ISIS leader to $10 million. The leader of the ISIS terror organization,…
Business California Wants Judge To Classify Uber, Lyft Drivers As Employees June 24, 2020 Ekemini California plans to ask a state court judge to force Uber Technologies Inc and Lyft Inc to classify their ride-hail drivers as employees rather than contractors, ratcheting up the tension…
Technology Amazon Launches Cloud Service To Help Non-Coders Build Apps June 24, 2020 Ekemini Amazon cloud unit on Wednesday announced the introduction of Honeycode, a service that non-coders can use to write applications. The move could help Amazon Web Services broaden its audience beyond…
World IMF Slashes Its Forecasts For The Global Economy And Warns Of Soaring Debt Levels June 24, 2020 Ekemini The International Monetary Fund slashed its economic forecasts once again on Wednesday and warned that public finances will deteriorate significantly as governments attempt to combat the fallout from the coronaviruscrisis.…
Investing Wall Street Finishes Lower On Rising Virus Cases, Weak Economic View June 24, 2020 Ekemini Wall Street’s three major indexes on Wednesday suffered their biggest daily percentage drop in almost two weeks as a surge in U.S. coronavirus cases intensified fears of another round of…
Business Facebook To Be Hit By Its Largest Ever Advertiser Boycott Over Racism June 24, 2020 Ekemini Facebook will be confronted with its largest ever advertiser boycott in July, as a coalition of some of America’s biggest brands, including The North Face, Ben & Jerry’s and Patagonia,…
World Thousands Of U.S Inmates Got Relief Checks, The IRS Wants Them Back June 24, 2020 Ekemini Hundreds of thousands of dollars in coronavirus relief payments have been sent to people behind bars across the United States, and now the IRS is asking state officials to help…
Technology NASA Eyes Flying Astronauts And Personnel To The Edge Of Space On Commercial Rockets June 24, 2020 Ekemini In a major policy shift for NASA, the space agency is making it possible for its own personnel — including astronauts — to fly on commercial suborbital spacecraft. These rockets…
World EU Delays Greater Competition In Derivatives Market By A Year June 24, 2020 Ekemini The European Union said it has delayed the introduction of rules aimed at increasing competition in derivatives clearing after concerns that the COVID-19 pandemic has hindered market preparations. Representatives of…
Technology WhatsApp Payments Suspended In Brazil By Central Bank June 24, 2020 Ekemini Brazil’s Central Bank has suspended Facebook’s WhatsApp payments feature in the country, just over a week after the messaging service announced its launch, Bloomberg reports. In a statement, the central…
Local Naira Falls Big At the black market as demand pressure persists June 24, 2020 Ekemini Forex turnover at the Investor and Exporters (I&E) window continued with the positive trend as it rose by 42% on Tuesday, June 23, 2020, providing a semblance of a boost…
Business Former Wirecard CEO Freed On Bail In Missing Billions Case June 24, 2020 Ekemini Former Wirecard (WDIG.DE) CEO Markus Braun, who was arrested on suspicion of falsifying the German payments firm’s accounts, has been released from custody, his lawyer told Reuters on Wednesday. Braun…
World Ex-Googler Becomes Second-Richest Person In China June 24, 2020 Ekemini A former Google employee was briefly ranked the second richest person in China, following a surge in sales at his e-commerce business, Pinduoduo. Colin Huang was valued at $45.4bn (£36.4bn)…
Technology Twitter Permanently Suspends Account That Created Doctored Video Tweeted By Trump June 24, 2020 Ekemini Twitter Inc has permanently suspended the account of a rightwing online personality for violating its copyright policy, a week after he posted a doctored video of toddlers that was tweeted…
World The EU Is Discussing Reopening Its Borders And US Citizens Could Remain Barred June 24, 2020 Ekemini The European Union is currently discussing how to reopen its external borders as the region looks to slowly reopen economies, with visitors from countries like America potentially still being barred…
Business Ben & Jerry’s Joins Boycott Of Facebook And Instagram Ads In The US June 23, 2020 Ekemini Ben & Jerry’s said on Tuesday that it will pause all paid advertising on Facebook and Instagram in the U.S. beginning on July 1, joining the “#StopHateForProfit” campaign. Last week,…
Africa IMF, Sudan Reach Agreement On Macroeconomic Policies Structural Reforms June 23, 2020 Ekemini International Monetary Fund (IMF) staff and Sudan have reached agreement on macroeconomic policies structural reforms that would underpin a 12-month staff-monitored program, the fund said in a statement on Tuesday.…
Business Former Wirecard Boss Arrested Over €1.9bn Scandal June 23, 2020 Ekemini The ex-boss of scandal-hit payments firm Wirecard has been arrested in Germany. Markus Braun resigned last Friday after auditor EY refused to sign off the firm’s 2019 accounts over a…
World New Corovirus Outbreak In Germany Sparks Fresh Local Lockdowns June 23, 2020 Ekemini German authorities in the state of North Rhine-Westphalia have reimposed lockdown restrictions in two districts after a spike in cases, with more than half a million people affected. One area…
Investing Nasdaq Jumps To Record Led By Apple In Longest Winning Streak Since December June 23, 2020 Ekemini The Nasdaq Composite rose to a fresh record on Tuesday with Apple leading major tech names higher as investors cheered a slew of announcements from the tech giant’s WorldWide Developers…
Local Nigeria: CBN Governor Confirms Exchange Rate Unification Plans June 23, 2020 Ekemini The Governor of the Central Bank, Godwin Emefiele, has confirmed that the Central Bank will continue to pursue unification around its Nafex rate. The NAFEX rate is the forex window…
Business Technology Apple Share Hits All Time High After Company Announces New Software June 23, 2020 Ekemini Apple shares hits an all time after the technology company announced new software for its iPhones, iPads, Macs, Apple TV and Apple Watch on Monday. The company also said future…
Breaking Investing Wall Street Ends Higher On Recovery Hopes, Nasdaq Hits Another Record June 23, 2020 Ekemini Wall Street’s three major indexes closed higher on Tuesday as improving economic data and the prospect of more stimulus bolstered hopes of a swift recovery, while a jump in technology…
Africa Banking Business Banks Warn Debt Forgiveness Will Hurt, Not Help Africa June 23, 2020 Ekemini Scrapping the debt of heavily indebted African nations will only come back to haunt them, according to two of the continent’s largest banks. “Forgiveness is not helpful because your debt…
Local Nigeria: Flight Resumption May Not Lead To Airfare Hike– Aviation Minister June 23, 2020 Ekemini 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.
Investing World Crypto Market Stuck In Negative Trend With Bitcoin Below $10,000 June 23, 2020 Ekemini With major digital coins failing to break out meaningfully in recent weeks, crypto markets can’t seem to pull out of a funk. Based on the DVAN Buying and Selling Pressure…
