Nigeria Faces Severe Stagflation As GDP Declines, Unemployment And Inflation Rise
1. The Nigerian economy contracted by -6.1% in the second quarter of 2020. This represents the highest quarterly decline since…
Day: August 27, 2020
Abbott Labs Jumps As Wall Street Says New Rapid Test May Be ‘Game Changer’
Shares of Abbott Laboratories soared on Thursday after the company gained emergency authorization for a cheap, rapid Covid-19 test that…
Klarna, Europe’s $5.5 Billion Fintech, Sees Losses Rise Sevenfold In The First Half
Swedish online payments firm Klarna reported a ballooning net loss in the first half of 2020, as the company invested…
Moderna Says Its Coronavirus Vaccine Shows Promising Results In Small Trial Of Elderly Patients
Moderna’s potential coronavirus vaccine generated a promising immune response in elderly patients in an early stage clinical trial, the biotech…
Facebook Removes Kenosha Militia Page Following Deadly Shooting
Facebook on Wednesday said it removed the Facebook page and for a militia group in Kenosha, Wisconsin, after a gunman…
Amazon Unveils Halo To Battle Apple Watch And Fitbit — Tracks Activity, Body Fat, Emotions
Amazon is entering the wearables market in a big way. The company on Thursday introduced a wristband for health and…
GOP Set To Propose Smaller Coronavirus Stimulus Bill
Republicans are working on a more narrow coronavirus stimulus bill that they could release to members of Congress as soon…
Powell Announces New Fed Approach To Inflation That Could Keep Rates Lower For Longer
The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter…
Trump Says He Saved 51 Million Jobs In Pandemic. Economists, U.S. Officials Say Otherwise
Standing before half a dozen American flags during a press conference at his country club in Bedminster, New Jersey, President…
Siemens Gamesa Confident Of Return To Profitability But Shares Slide
Wind turbine maker Siemens Gamesa (SGREN.MC) said its profit margins are set to rebound after a slump exacerbated by the…
U.S., China Trade Jibes As Military Tensions Worsen
The United States and China traded jibes as military tensions grow between the world’s two largest economies, with the U.S.…
From Golden Age To War And Ruin: Lebanon In Turmoil As It Hits 100
Looking back on his childhood in the newly declared state of Lebanon nearly a century ago, Salah Tizani says the…
Putin says Russia has set up ‘reserve police force’ to help Belarus leader if needed
Russian President Vladimir Putin said on Thursday the Kremlin had set up a “reserve police force” to support Belarusian leader…
U.S. energy firms tally hurricane damage, plot restarts as Laura races north
U.S. energy companies on Thursday were organizing crews and beginning to review offshore Gulf of Mexico platforms and assess damage…
Salesforce Cuts About 1,000 Jobs Even As Stock Has Record One-Day Surge
Salesforce is cutting about 1,000 jobs, or close to 2% of its workforce, after a blowout earnings report pushed the…
Sens. Warren, Smith Press Major Labs Over Coronavirus Testing Delays As Flu Season Approaches
Sens. Elizabeth Warren and Tina Smith pressed five of the nation’s largest testing labs over delays in processing coronavirus tests…
Walmart Is Teaming Up With Microsoft On TikTok Bid
Walmart said it’s teaming up with Microsoft in a bid for TikTok. The retail giant confirmed to CNBC that it’s…
Cramer Says He Would ‘Buy Any Airline Stock’ After Abbott announces New Rapid Coronavirus Test
The new rapid test for Covid-19 from Abbott Laboratories could be the development that sparks a turnaround for the travel…
Goldman Hikes Peloton’s Target To Street High, Says Growth Is Undervalued In The Stay-At-Home Name
Wall Street is underestimating high flying fitness stock Peloton’s growth potential even after rallying nearly 140% this year, according to…
Hudson Yards Developer Says Related Is Collecting 50% Of Rents On New York City Malls
Look no further than one of the biggest commercial real estate developers in New York City to see how the…
TikTok Likely To Announce Sale Of U.S. Operations In The Coming Days; Walmart Has Expressed Interest
TikTok is nearing a deal to sell its U.S. operations and could announce a deal in the coming days, according…
Wall Street Opens Higher As Fed Targets 2% Average Inflation
U.S. stocks opened higher on Thursday as Federal Reserve Chair Jerome Powell rolled out an aggressive new strategy to restore…
For U.S. Reopening, Labor Market Wound Is Healing Slowly
Small business staffing, shifts worked at industries and job openings posted by companies continued a sluggish performance over the past…
Routine Cleaning And Disinfecting Leaves No Trace Of Coronavirus On Surfaces In Hospital Clinic, Study Finds
A new study that tested multiple surfaces of a New Jersey oncology unit found no traces of the coronavirus, suggesting…
Nigeria: FSDH Predicts Continued Sluggish Economic Activities In 2020
Analysts at FSDH Merchant Limited have anticipated that the sluggish economic performance recorded in the second quarter of the year…
Nigeria’s Q2 GDP Decline Better Than Forecast
The Presidency has said that the 2nd Quarter (Q2) 2020 Gross domestic product (GDP) estimates, which measures economic growth, published…
Nigeria’s Forex Devaluation Timeline – 2020
Speculations started March 12 that the naira might be devalued. This is a timeline of every decision taken since the…
Dollar Sags As Investors Brace For Dovish Fed Signals
The dollar wallowed near its lowest level for the week on Thursday as investors looked for hints from Federal Reserve…
Nigeria Approves Auditors For Delta Region Development Agency Probe
Nigeria’s government has approved auditors led by Ernst & Young to examine the finances of a government organisation set up…
30 States Have Been Approved To Offer An Extra $300 A Week In Federal Unemployment Benefits
Unemployed workers may soon get a bump of $300 or more in their weekly jobless benefits. What’s more, it seems…