The Global Oil Market Is Broken, Drowning In Crude Nobody Needs
The global oil market is broken, overwhelmed by an unmanageable surplus as virus lockdowns cascade through the world’s largest economies
Author: Ekemini
This Weeks Take On Events In The World Economy And Their Fallout
The scale of global job losses caused by the coronavirus pandemic will become more apparent this week, as some of the world’s biggest economies release labor market data.
Ogun announces closure of borders for two weeks
The Ogun State Government has announced the closure of its borders with all neighbouring states and the international border with…
UK Housing Market Grinds To A Halt As Coronavirus Bites
Coronavirus has disrupted most areas of life — and home buying and selling are no exception. In the United Kingdom, mortgage…
Sanwo-Olu introduces stimulus for residents, targets 200,000 households in first phase
Lagos State Governor, Babajide Sanwo-Olu has unveiled an economic stimulus package for the indigent and the most vulnerable in the…
Nigeria Struggles To Sell Oil Despite Price Cut
Despite the significant reduction in its official selling prices aimed at wooing buyers, Nigeria is still struggling to sell its…
Zukerberg Sold $500m Worth Of Facebook Shares In February
Chief Executive Officer Mark Zuckerberg sold nearly $500 million in the company’s shares in February to fund his philanthropic investment…
Breaking: El-Rufai Tests Positive For Coronavirus
Governor of Kaduna state, Mallam Nasir El-Rufai has tested positive for Coronavirus. The former FCT Minister revealed this on his…
Lyft Advices Drivers To Work For Amazon
Amazon is teaming up with Lyft Inc. on recruiting the ride-hailing company’s drivers to deliver packages and groceries as the…
WeWork Cuts Another 250 Jobs in Further Attempt to Trim Costs
continued to cut more staff as part of a months-long effort to lower expenses after its failed initial public offering…
Coronavirus: Virgin Atlantic to seek bailout in coming days
Virgin Atlantic is expected to ask for a government bailout worth hundreds of millions of pounds in the coming days,…
Dow Records Best Week since 1938 Despite Closing Lower
US stocks finished the session in the red on Friday, but that still managed to post on if it’s best…
Google is donating $800 million to help with the coronavirus crisis
Google is committing to donate more than $800 million to support businesses, organizations and healthcare workers as part of its…
Suspend VAT immediately, Tinubu tells FG
All Progressives Congress stalwart, and former Governor of Lagos State, Bola Tinubu, has asked the Federal Government to stop collection…
Global oil refiners shut down as coronavirus destroys demand
The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a…
Fitch cuts UK credit rating to AA-
Agency says government borrowing levels are set to rise and outlook remains negative for Britain’s sovereign debt score The ratings…
Wall Street tumbles as U.S. virus cases pass 100,000
Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy…
Africa: $100 Billion Needed. A Fraction Promised
Governments across sub-Saharan Africa have closed borders, canceled flights and told citizens to stay indoors to defeat the coronavirus. They’ve done little to protect their…
After More Than 25 Years South Africa Is Now Junk With Moody’s Too
South Africa has lost its Moody’s Investment Services investment-grade credit rating more than 25 years after it was first awarded…
The Fed Brings The Global Financial System Back From The Abyss
Sitting calmly in front of a bookshelf filled with thick volumes of the “Federal Reserve Bulletin,” Jerome Powell this week…
Nigeria Will Go Into Recession If COVID-19 Continues Beyond Six Months – Finance Minister
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has warned that Nigeria may go into recession if…
Toyota To Make Face Masks In U.S. To Aid Coronavirus Battle
Toyota Motor Corp’s, North American unit said on Friday it would produce face shields, ventilators and respirators, as the death…
Apple Works With White House To Release ‘COVID-19’ App, website
Apple Inc and the White House said on Friday that the iPhone maker worked with the Trump administration and federal…
Breaking: Davido’s Fiancée, Chioma Tests Positive For Coronavirus
Singer David Adeleke, aka Davido, has said his fiancée, Chioma, has tested positive for coronavirus. The singer disclosed this via…
‘Clear We Have Entered Recession’ – IMF Chief
The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations,…
Designer Brand Ralph Lauren To Make Masks And Gowns
Ralph Lauren is to start making medical masks and gowns – the latest designer brand to lend its support to…
Zimbabwe Returns To Use Of Foreign Currency As Own Currency Crashes
Zimbabwe’s government, which banned use of the dollar nine months ago, has restored the peg its currency had to the…
Coronavirus: US Asks Foreign Doctors To Apply For Visa
The United States has asked medical professionals seeking to work in America to apply for a work visa at the…
European Shares Fall As EU Postpones Rescue Plan
The pan-European STOXX 600 index started the day about 2% lower, then fell further to trade down 3.7% at 1210…
Dangote Loses $2.5bn In One Month But Remains Africa’s Richest Man
Africa’s richest man, Aliko Dangote, saw his total net worth drop by $2.5bn in the last 30 days, according to…