U.S. Moves To Cut Huawei Off From Global Chip Suppliers As China Eyes Retaliation
The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies [HWT.UL], spurring…
Year: 2020
China’s Unemployment Rises As Coronavirus Wrecks More Havoc On Economy
The unemployment rate in China remained near historic highs in April, highlighting the challenges the world’s second-largest economy still faces…
Slovenia Becomes First European Nation To Declare An End To Its Coronavirus Epidemic
Slovenia has become the first European country to declare its domestic coronavirus outbreak officially over. The country’s government confirmed in…
Netflix Hits A Record High, And Trader Says One Level Holds
Netflix hit a record high after Jefferies gave three reasons to buy the stock. In the firm’s pro column, analysts…
German Economy Posts Sharpest Contraction Since The Financial Crisis
German GDP (gross domestic product) shrank by 2.2% in the first quarter compared to the final three months of 2019, official preliminary…
Oil Records Second Monthly Drop, Unsold Cargoes Increase
Crude oil in the Organisation of Petroleum Exporting Countries reference basket dropped for the second consecutive month in April, shedding…
Airline Industry Not Likely To Recover For At Least A Year: Southwest CEO
The airline industry is not likely to recover to pre-coronavirus levels for at least the next six to 12 months,…
World Stocks Win A Respite, Oil Prices Jump Over 3%
World stocks rose on Friday and oil prices jumped more than 3%, taking the sting out of a week that…
UK Announces £1.6bn Bailout For London’s Transport System
The British government will pump £1.6 billion into London’s public transport system to restore services and help prevent overcrowding as…
A London-Based Trading House Bought 250,000 Barrels Of Oils During The Historic Plunge Below $0, And Likely Made A Fortune
One trader bought 250,000 barrels of oil and secured a rare payout at a time when oil prices turned negative,…
Walt Disney World And Unions Agree On Safeguards For Returning To Work
Walt Disney Co (DIS.N) and unions representing workers at Florida’s Walt Disney World have reached an agreement on safeguards to…
Qatar Airways To Distribute 100,000 Free Tickets
Qatar Airways has said it will give away 100,000 free tickets to the front-line healthcare professionals to commend them for…
Nigerian Treasury Bill Oversubscribed By N132bn
The Nigerian Treasury Bills auctioned for the month of May was oversubscribed by N132bn. The Debt Management Office disclosed this…
EU Pushes To Reopen Border Amidst Coronavirus
The European Union (EU) on Wednesday pushed to reopen internal borders and restart travel ahead summer season despite the increase…
Airtel Nigeria Reports $1.37bn Revenue, 41.8 Million Subscribers
Airtel Nigeria reported a revenue growth of 24.1 per cent to $1.37bn in the year ended March 31, 2020, up…
Nigeria: Stock Market Halts Downward Trend As Unilever, 19 Others Gain
Transaction activities on the Nigerian equity market on Wednesday halted the three-day negative sentiment following gains recorded by Unilever Nigeria…
Nigeria: FG Adjusts 2020 Budget To N10.52tn, Adopts $25 Oil Benchmark
The Federal Government on Wednesday adjusted the 2020 budget downward from the original N10.59tn to N10.52tn. The budget deficit is…
China Denies US Accusation Of Vaccine Theft, Labels the Claim ‘Smearing’
Beijing has denied the US accusation that the Asian country was trying to steal US research on developing a vaccine…
The Jobs Recovery Could Be Choppy, With Some Coming Back Quickly And Others Lost Forever
TJ Wilson is no stranger to hunting for jobs. A consultant based in Los Angeles, Wilson often has a few…
Dow Drops 250 Points In 4th Straight Days Of Losses After Dismal Unemployment Data
Stocks fell on Thursday after the latest jobless data underscored the coronavirus’ devastating toll on the U.S. economy. Dow Jones…
Banks Are Deep In A Bear Market, And Traders See Little Reason For Hope
Bank stocks are breaking down. The KBE bank ETF, which includes major companies Citigroup and JPMorgan, has fallen 13% just…
U.S. Weekly Jobless Benefits To Stay Elevated As Coronavirus Layoffs Widen
The global novel coronavirus crisis continues to batter the U.S. labor market, with millions more Americans, including white collar workers,…
Trump Says Fauci Remarks on Risk To Reopening Economy Unacceptable
U.S. President Donald Trump on Wednesday described as not acceptable a warning given by top U.S. infectious disease expert Anthony…
Coronavirus: US Accuses China Of Hacking Coronavirus Research
China-linked hackers are targeting organisations researching the Covid-19 pandemic, US officials say. The FBI said it had seen hacking attempts…
Canada, U.S. Are Likely To Extend Travel Restrictions Until June 21
Canada and the United States appear likely to extend a ban on non-essential travel until June 21 amid the novel…
Tesla, California County Reach Deal To Reopen U.S. Plant Next Week
Tesla Inc and officials in California have resolved their acrimonious clash over safety procedures at the automaker’s sole U.S. assembly…
Nigeria: Foreign Reserves Gain $1.22bn In 11 Days, Rise To $34.65bn
Foreign reserves have risen to $34.65bn within eleven days, latest figures from the Central Bank of Nigeria have indicated. The…
UK Economy Posts Sharpest Monthly Decline On Record
U.K. GDP (gross domestic product) contracted by 5.8% month-on-month in March, according to preliminary figures released Wednesday, as lockdown measures…
US Says It Won’t Use Ventilators Sent To It By Russia After Deadly Hospital Fires
The U.S. has said it will not use the Russian ventilators sent to it by Moscow while an investigation is…
Gilead Strikes Deal To Make Remdesivir Coronavirus Treatment In 127 Countries
Gilead Sciences has struck a licensing agreement with five generic drugmakers to make antiviral drug remdesivir in 127 countries, not including…