Historic Fed Boost Fails To stop Wall Street’s Virus-Driven Sell-Off
Wall Street’s slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves…
Year: 2020
Amazon Teams Up With Bill Gates-Backed Group To Deliver Coronavirus Test Kits
Amazon.com Inc (AMZN.O) is partnering with a research program funded by Bill Gates to pick up and deliver coronavirus test…
Merkel Tests Negative For Coronavirus
Angela Merkel’s initial test for coronavirus came back negative, a government spokesman said on Monday, adding that the German chancellor…
FIRS Generates N338bn in January
The Federal Inland Revenue Service, FIRS, collected tax revenue of N338.1 billion in January. The figure was slightly above average…
Fed takes emergency action to stave off a depression
The Federal Reserve is signaling it will do whatever it takes to save the coronavirus-ravaged American economy from a depression.…
UBA And Transcorp Postpone AGMs
United Bank for Africa (UBA) and Transcorp have announced the cancellation of their 2019 Annual General Meetings (AGMs) to prevent…
ABCON Directs BDCs To Comply With N380/$ Official Rate
The Association of Bureaux De Change Operators of Nigeria (ABCON) has directed bureaux de change (BDCs) across the country to…
Coal Is Now the World’s Most Expensive Fossil Fuel
Oil’s epic collapse over the past month means the global crude benchmark is now priced below the most widely traded…
U.S. Futures Reverse Drop, Bonds Up on Fed Pledge
U.S. equity futures reversed a decline and Treasuries extended an advance after the Federal Reserve on Monday announced a massive second…
Banks Adjust Operations, Advice On E-Channels Over Coronavirus Pandemic
Over the weekend, some Nigerian banks worked out plans to prevent exposure of their staff and curb the spread of…
Chloroquine Effective In Treating Covid19 – Chinese Ministry Of Science and Technology
This is based on the results of Clinical Trials which confirms that Chloroquine Phosphate primarily used in the treatment of Malaria has some curative effect on the Covid-19 disease currently ravaging the globe.
BREAKING: NCDC Announces First Coronavirus Death in Nigeria
The Nigeria Centre for Disease Control has confirmed the first coronavirus death in Nigeria. The NCDC via its Twitter handle,…
Walmart ups minimum wage in e-commerce warehouses by $2 as orders surge on virus worries
Walmart Inc said on Monday it has temporarily raised entry wages for workers in its e-commerce warehouses by $2, following…
Stocks crumble as more nations shut for business to curb virus
Asian shares sank on Monday as a rising tide of national lockdowns threatened to overwhelm policymakers’ frantic efforts to cushion…
Stanbic IBTC Declares N75b Profit For 2019
STANBIC IBTC Holdings Plc has declared a profit after tax of N75 billion for the year ended December 31, 2019,…
MTN workers start working from home
MTN Nigeria on Sunday said its employees would start working from home as part of the precautionary measures to stop…
SoftBank to sell up to $41 billion in assets to expand share buyback, cut debt
SoftBank Group Corp (9984.T) said on Monday it is selling up to 4.5 trillion yen ($41 billion) in assets to…
Central banks deploy record sums to break financial logjam, but may need more
Central banks have offered trillions of dollars of support to markets in recent days to keep them from freezing up,…
McDonald To Close All Restaurants In The UK By End Of Monday
McDonald’s will close all 1,270 of its restaurants in the UK by the end of Monday, as fears over the…
Breaking: Atiku’s Son Tests Positive For Coronavirus
Former Vice-President of Nigeria, Atiku Abubakar has announced that is son has tested positive for coronavirus. The former Presidential candidate…
40% To 80% Of New Yorkers Will Get Coronavirus – Cuomo
— New York state Gov. Andrew Cuomo said Sunday morning that an estimated 40% to 80% of residents could get…
Sanwo-Olu Orders Civil Servants To Stay At Home For Two Weeks
The Lagos State Government has declared two weeks break for civil servants in the state, the Governor has said. Babajide…
German Chancellor Angela Merkel To Self-Quarantine
German Chancellor Angela Merkel will self-quarantine after coming into contact with a person who tested positive for coronavirus, her spokesperson…
Coronavirus supplies donated by Alibaba’s Ma arrive in Africa
A first planeload of protective and medical equipment donated to Africa by Chinese billionaire and Alibaba co-founder Jack Ma to…
Wall Street braces for another bleak week, with coronavirus risks amplified
Wall Street analysts and investment managers expect another rough week for U.S. markets, as coronavirus cases and deaths increase in…
World Bank moving forward on first $1.7 billion in pandemic aid projects
The World Bank’s executive board is expected to consider later this week the first fast-track funds to help Afghanistan and…
U.K. Warns of Further Crackdown If Britons Ignore Virus Advice
“This isn’t a game, it is very serious,” Housing Secretary Robert Jenrick told Sky News when asked if the government was considering a fuller lockdown to tackle the pandemic. “If people don’t follow that advice then clearly we’ll have to consider other options, but none of us want to go down that route.”
South African President Meets Business Leaders as Virus Spreads
The country has escalated measures to curb the spread of the virus, including banning travel to and from various countries and limiting gatherings to no more than 100 people, as the number of infections rises. The restrictions are expected to dampen the country’s already dire economic outlook, with the Reserve Bank saying the country is likely to contract 0.2% this year, after slipping into a recession at the end of 2019.
Bitcoin May Need Months to Recover, Fundstrat Chartist Says
Bitcoin’s technicals are in rough shape after its spectacular tumble last week and a recovery might take months, according to Fundstrat Global Advisors LLC.