Nigeria: CBN Resumes Dollar Sales For SMEs And School Fees
The Central Bank of Nigeria (CBN) has resumed the sale of foreign exchange to all commercial banks for onward sales…
Author: Ekemini
Airlines May Not Recover From Covid-19 Crisis For Five Years, Says Airbus
The planemaker Airbus has warned that the aviation industry could take as long as five years to recover to the…
US Economy Shrinks 4.8% As Coronavirus Ends Longest Expansion In History
The longest economic expansion in US history officially came to an end on Wednesday when the commerce department announced the…
Ford Reports A Loss And Drops A Bombshell In Its Outlook
Detroit auto maker and iconic American manufacturer Ford Motor’s first-quarter earnings missed Wall Street estimates. But that actually isn’t the…
Boeing To Cut Staff After $641m First-Quarter Loss
Boeing announced sweeping cost-cutting measures Wednesday after reporting a first-quarter loss of $641 million following the hit to the airline…
U.S. GDP In The First Quarter Is Going To Be Bad — And The Damage Is Far From Done
The spring is shaping up to post the biggest contraction in U.S. economic growth since the Great Depression in the…
Much of U.S. Economy Still Plugging Along Despite Coronavirus Pain
Garbage haulers still collect trash. Cops are on the beat. Couriers deliver food and packages. Insurance agents work from home.…
Boeing Eyes Major Bond Issue To Raise Funds
The preparations reflect Boeing’s confidence that it can tap the capital markets to strengthen its finances, even as the largest…
IMF Approves $3.4bn For Nigeria’s COVID-19 Fight
The board of the International Monetary Fund (IMF) has approved the sum of $3.4 billion to support Nigeria’s COVID-19 fight.…
Germany Grants Nigeria N8.9bn Debt Relief
The Republic of Germany said it has granted Nigeria debt relief amounting to N8.9 billion (€22.4 million) on account of…
Trump To Order Meat Processing Plants To Stay Open Amid Coronavirus Outbreaks In Some Plants
President Donald Trump plans to order U.S. meat processing plants facing concerns about coronavirus outbreaks to stay open to protect…
Greece Plans Gradual Relaxation Of Lockdown Measures
Greek Prime Minister Kyriakos Mitsotakis said on Tuesday restrictions on citizens’ movements would be lifted and more shops allowed to…
France Plots Gradual Exit From Lockdown From May 11, But Cafes To Stay Closed
France will begin to ease its coronavirus lockdown from May 11 to avoid an economic meltdown, Prime Minister Edouard Philippe…
BREAKING: 2020 Budget: Senate Approves Buhari’s N850bn Loan Request
The Senate has approved the N850billion loan request of the President, Major General Muhammadu Buhari (retd.), which was read at…
Nigeria: FBN Holdings Shareholders Approve N13.64bn Dividend
Shareholders of the FBN Holdings have approved a total dividend of N13.64bn declared by the company for the financial year…
Harley-Davidson Cuts Dividend Payout, Suspends Share Buybacks
Harley-Davidson Inc (HOG.N) cut its quarterly dividend to just 2 cents and suspended share buybacks on Tuesday to boost its…
Nigeria: Buhari Seeks N’assembly Approval For N850bn Loan To Fund 2020 Budget
President Muhammadu Buhari has asked the national assembly to approve a loan request of N850 billion to fund the 2020…
Remote Work Revenue Could Help Microsoft Offset Coronavirus Impacts, Analysts Say
When Microsoft Corp reports earnings on Wednesday, analysts expect some areas of its business to take a hit from the…
Pepsi Warns Second Quarter Revenue Will Drop
Pepsi warned on Tuesday organic revenue and operating profits would suffer in the second quarter as major buyers of its…
Central Bank Of Nigeria Lifts Suspension On Cheques’ Clearing
The Central Bank of Nigeria has lifted suspension on cheque clearing by the Deposit Money Banks. It stated this in…
IMF To Meet On Nigeria’s Emergency Loan Request Today
There are indications that the Executive Board of the International Monetary Fund may approve the $3.4bn loan sought by Nigeria…
US Oil Falls Below $11 Per Barrel
US oil nosedived below $11 a barrel on Tuesday after a major exchange-traded fund started selling its short-term contracts of…
Market Wrap
S&P 500 contracts turn higher alongside shares in Europe, Asia. Crude deepens losses after Monday plunge; Treasuries steady. It’s harder to buy equities from a valuation perspective, says Marvin Loh, senior global market strategist at State Street.
COVID-19 Global Virus Update
Virus Tracker: Total cases 3 million; deaths pass 211,000. White House strategy envisions tests reaching 2% of public
Johnson urges U.K. to stick to lockdown. European nation with fewest virus deaths proves speed is key. Back to school brings a bleak new normal for China’s students. Vaccine coalition sees potential to move faster
Study finds virus lingers in air of crowded spaces
Adidas’ First Quarter Profit Falls By 90%
Adidas has said that sales will fall by 40% in the second quarter after the German sportswear giant saw profits…
New York State Cancels Presidential Primary Over Coronavirus Risk
New York state on Monday canceled its presidential primary over concerns voting was an unnecessary risk amid the COVID-19 pandemic,…
BREAKING: President Buhari Extends Lockdown In Lagos, Ogun, FCT Until May 4, Curfew To Begin After That
President Buhari has extended the lockdown in Lagos, Abuja and Ogun state till May 4th He also sad a dusk…
South Africa Seeking $5 Billion From Multilateral Lenders To Fight Virus
South Africa is seeking 95 billion rand ($4.99 billion) from multilateral lenders to help it fight the COVID-19 pandemic, a…
U.S Oil Slips Below $15 Per Barrel
US oil prices fell heavily on Monday and slipped below $15 a barrel on renewed storage concerns as the coronavirus…
GE’s Coronavirus Troubles Likely To Hit Power Business, Not Just Aviation
Quarantines and lockdowns at large U.S. power plants are threatening to squeeze a multibillion-dollar slice of revenue that General Electric…