Why The Stock Market Is Up Even With Historic Job Losses
A record number of Americans just lost their job, and yet stocks are moving higher. This seems paradoxical given the…
Year: 2020
Musk Says Tesla Is Prepared To Move Out of California Amid Fight Over Factory Shutdown
CEO Elon Musk said on Twitter Saturday that the company is preparing to file a lawsuit against Alameda County, and…
Nigeria: Non-Oil Goods Account For Nigeria’s 22% Exports – NPA
Nigerian ports handled 191 million metric tonnes of export cargo in 2019. Out of these, crude oil accounted for 78…
US Slashes Imports Of Nigerian Oil By 60%
The United States cut its imports of Nigerian crude oil by 60.37 per cent to 1.93 million barrels in January…
New Study Claims Vitamin D Deficiency May Impact Coronavirus Mortality Rates
Researchers have discovered a strong correlation between vitamin D deficiency and mortality rates from the novel coronavirus, a new study…
The ‘Silver Lining’ In The Dismal U.S. Jobs Report
Despite shedding a whopping 20.5 million payrolls and unemployment soaring to 14.7% in April, the U.S. labor market saw one worker…
Tesla Secures $565 Million Loan For Shanghai Factory
Electric carmaker Tesla Inc has entered into an agreement for a working capital loan of up to 4 billion yuan…
Google Announces Company Holiday On May 22 To Stem Work-From-Home Burnout
Alphabet Inc’s Google said on Friday it has asked employees to take a day off on May 22, to address…
California County Says Tesla Not Cleared To Reopen Vehicle Factory After Musk Asked Workers To Resume
Tesla Inc “must not reopen” its vehicle factory in the San Francisco Bay area as local lockdown measures to curb…
Kenya And Uganda Hit By Power Blackout
Kenya and Uganda were hit by a power blackout on Saturday, and Kenya Power said the outage on Kenya’s grid…
Pfizer To Outsource Some Drug Production, Focus On Coronavirus Vaccine
Pfizer Inc (PFE.N) said on Friday it is in talks to shift more of its medicine production to outside contractors…
Coronavirus Inflicts Huge U.S. Job Losses As Pandemic Breaches White House Walls
The U.S. government reported more catastrophic economic fallout from the coronavirus crisis on Friday as the pandemic pierced the very…
Coronavirus: US To Borrow Record $3tn As Spending Soars
The US has said it wants to borrow a record $3tn (£2.4tn) in the second quarter, as coronavirus-related rescue packages…
Coronavirus Sends U.S Unemployment Rate To 14.7%
The US unemployment rate has risen to 14.7%, with 20.5 million jobs lost in April, as the coronavirus pandemic devastated…
80 Million Chinese May Already Be Out Of Work
Wang is used to job hunting in China. The 26-year old tech worker spent the last year jumping from one…
Uber Says ‘No Sacred Cows’ Amid Coronavirus Crisis
Uber has warned it may scale back parts of the business as it tries to navigate through the coronavirus crisis.…
Nigeria: Petrol Price Reduction Won’t Be Immediate, Says Marketers
The latest reduction in the ex-depot price of petrol to N108 per litre will not translate to an immediate drop…
What Will Staying In A Hotel Look Like In The Near Future?
Goodbye, breakfast buffets and bellhop service. Hello, temperature screening and keyless check-in. While pandemic-era policies are still being developed at…
U.S., China Trade Officials Press Ahead With ‘Phase 1’ Deal As Trump Mulls Termination
U.S. President Donald Trump, critical of China’s early handling of the coronavirus outbreak in the city of Wuhan in late…
Walmart And Other U.S Superstores Are Still Hiring As Other Industries Purge Workers
Amid the carnage of the U.S. employment report for April was one bright spot: superstores led by Walmart Inc (WMT.N),…
J.C. Penney To File For Bankruptcy As Soon As Next Week
J.C. Penney Co Inc (JCP.N) is preparing to file for bankruptcy protection as soon as next week with plans to…
Tesla Aims To Restart Fremont Plant On Friday
Tesla Inc is aiming to restart production in its U.S. car plant in Fremont, California on Friday afternoon, according to…
Canada Loses Record 2 Million Jobs; Temporary Layoffs Hide Extent Of Damage
Canada lost a record-breaking 2.0 million jobs in April while the unemployment rate surged to a near-record high 13.0%, according…
Markets Start Pricing In Negative U.S. Interest Rates For First Time
Financial markets began pricing in a negative U.S. interest rate environment for the first time on Thursday, a place the…
Africa’s Wealthiest City Says 1 Million People Need Food Aid
Almost one million people in Johannesburg, South Africa’s commercial hub, are in need of food aid due to movement restrictions…
US Unemployment Claims Hit 33.3 million Amid Virus
A further 3.2 million Americans sought unemployment benefits last week as the economic toll from the coronavirus pandemic continued to…
South African MPs’ Zoom Meeting Hacked With Porn
A virtual meeting held by a South African parliamentary committee has been hacked and the speaker abused. The programming committee’s…
Wave of U.S. Bankruptcies Builds Toward Worst Run in Many Years
First, J. Crew. Now Neiman Marcus. Flashing red: J.C. Penney, Hertz and many more. Get ready for what could be…
NY Gov. Cuomo Says He Won’t Sacrifice Human Lives to Reopen The Economy
New York Gov. Andrew Cuomo said Thursday that he’s not willing to trade people’s lives to reopen the state’s economy, saying it’s…
Oil Slips With Glut Concerns Reversing Saudi Price Hike Boost
Oil fell in a day of wild price swings as investors weighed supply-and-demand fundamentals against Saudi Arabia’s global price hike.…