U.S. Auto Industry To Begin Reopening Plants In Recovery From Pandemic
The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and suppliers…
Year: 2020
Oil And European Shares Rise As Lockdowns Ease; Gold Jumps
European stock markets rose on Monday and oil prices climbed to their highest in as much as two months as…
Nigeria: CBN Naira Defence Depletes Foreign Reserves By $3.17bn
Forex scarcity due to falling crude oil price forced the Central Bank of Nigeria to access the country’s foreign reserves…
Coronavirus: Emirates Plans To Cut About 30,000 Jobs
Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down…
Uber To Require All Users And Drivers To Wear Face Masks Before Embarking On Every Journey From Monday
Uber will from Monday require all riders and drivers to wear face masks or coverings before embarking on a journey,…
Buffett Sells More Stocks, Including Goldman Sachs, Without No Big Acquisitions In The Horizon
Billionaire investor Warren Buffett, who told investors earlier this month that he had made a “mistake” betting on airlines, is…
As Oil Prices Continue To Slump, Saudi Arabia Increases Taxes And Cut Spending
Saudi Arabia’s economic downturn is about to worsen. Already reeling from the slump in oil prices and lockdowns to halt…
A Month After Negative Oil Prices, U.S. Crude Contracts Expiry Looms
A month after sellers had to pay nearly $40 a barrel to get rid of U.S. oil futures, the next…
Italy Looks To Reopen Borders Next Month As Lockdown Measure Ease
Italian Prime Minister Giuseppe Conte outlined a further loosening of movement restrictions on Saturday, including opening borders to travellers from…
How The Pandemic May Change The Way We Grocery Shop
Gone are the days of leisurely browsing the aisles of grocery stores. Instead, customers are getting used to new grocery…
Bankrupted JC Penney Plans To Spin Its Properties Into Separate Real Estate Company
A piece of J.C. Penney’s proposal to emerge from bankruptcy includes spinning its real estate into a publicly traded real estate…
Coronavirus: Millions Of Americans Could Retire Into Poverty
Labor economist Teresa Ghilarducci began studying retirement in 2008, when the Great Recession was making it impossible for millions of Americans to…
How Would Negative Interest Rates Affect Mortgages?
The Federal Reserve hasn’t left itself much room to keep using interest rates to battle the coronavirus, which Fed Chairman…
Nigeria: FG, States, LGs Share N606.196bn, Revenue Drops By N227.265bn
The Federation Accounts Allocation Committee has shared a total of N606.196bn for April revenue to the federal, states and local…
California Officials Reject Subsidies For Musk’s SpaceX Over Tesla Spat
A California state panel on Friday rejected a request from Elon Musk’s SpaceX for $655,500 in state job and training…
Trump Administration Reportedly Set To Restore Partial Funding To World Health Organization
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…
China Asks United States To Stop ‘Unreasonable Suppression’ Of Huawei
China’s foreign ministry said on Saturday the United States needed to stop the “unreasonable suppression” of Chinese companies like Huawei. The…
House Democrats Pass $3 trillion Coronavirus Relief Package
House Democrats on Friday passed a $3 trillion coronavirus relief package, unprecedented spending Senate Republicans have pledged to block as…
Saudi Wealth Fund Boosts U.S. Holdings With Stakes In Citi, Boeing, Facebook
Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing (BA.N), Facebook (FB.O) and Citigroup…
J. C. Penny Files For Bankruptcy
J.C. Penney Co Inc filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore…
Elon Musk’s Boring Company Completes Second Tunnel In Las Vegas
The Boring Company, Elon Musk’s underground transportation project, has completed work on a second tunnel in Las Vegas. Musk, who…
Fitbit Plans To Make Emergency Ventilators For Covid-19
Fitbit, which makes wearable devices including fitness-trackers, is shifting its supply chain to make emergency-use ventilators, CEO James Park told…
Mike Bloomberg Plots Spending Blitz To Support Joe Biden’s Run For President
Billionaire and former presidential candidate Mike Bloomberg is plotting a massive spending blitz to back Joe Biden’s quest for the…
Could Jeff Bezos Really Become The World’s First Trillionaire By 2026?
Jeff Bezos is already the world’s wealthiest person by a healthy margin and he’s the founder and CEO of one…
Facebook Is Building A Huge Undersea Cable Around Africa To Boost Internet Access In The Continent
Facebook is building a massive underwater cable around Africa, in an effort to bring more of the continent’s 1.3 billion inhabitants…
Nigeria: Currency In Circulation Rises By N11.38bn In One Month
The total currency in circulation in the country rose to N2.3tn as of April 30 from N2.29tn on March 31,…
Nigeria: Borrowers Complain As MfBs Demand Loan Repayment
Some borrowers from microfinance banks have decried their exemption from loan tenor extension in the banking industry, which some commercial…
Mark Cuban Believes The Market Is Overvalued
Shark Tank” investor Mark Cuban believes the market is overvalued as coronavirus induced uncertainty over consumer spending persists. The Missing…
Saudi Oil Rush Threatens To Disrupt Stabilizing U.S. Market
An armada of tankers filled with Saudi Arabian crude steaming toward the U.S. threatens to prevent America’s oil glut from…
China Ready To Put Apple, Other U.S. Companies In ‘Unreliable Entity List’
China is ready to put U.S. companies in an “unreliable entity list,” as part of countermeasures against Washington’s move to…