Tesla U.S. vehicle factory to suspend production but insists it has enough liquidity
Tesla Inc (TSLA.O) will suspend production at its California vehicle factory beginning on March 24 to comply with local orders…
Author: Ekemini
Coronavirus to send emerging economies into recession by mid-year: JPMorgan
According to JPMorgan, the impact of the coronavirus is set to push the world’s poorer countries excluding China into recession…
BREAKING: US Approves Chloroquine to treat CoronaVirus
President Trump said in a Thursday press briefing that chloroquine, a drug used to treat malaria and severe arthritis, was…
NY Fed to pump in another $10 billion today
The New York Federal Reserve continues to point a firehose of liquidity at clogged-up financial markets. The NY Fed just…
Coronavirus could leave 25 million jobless – UN
The COVID-19 pandemic will significantly increase global unemployment, leaving up to 25 million more people out of work, and will dramatically slash workers’ incomes, the United Nations said Wednesday.
CBN Approves N100 Billion Loan Support For Health Laboratories
The Central Bank of Nigeria has announced a 100 billion naira loan support for health laboratories in the country. Central…
CBN announces N1.1tn intervention fund to boost economy
The Central Bank of Nigeria on Wednesday announced a N1.1tn intervention fund to support critical sectors of the economy. The…
Nigeria, others may lose over $110b in taxes, revenue as oil Price sinks to $24
As Coronavirus pandemic continues to rage and disrupt international economies, the African Energy Chamber (AEC), as well as other analysts,…
Rolex Shuts Down All Plants As Company Prepare For Worst Year Ever
The Swiss watch industry has survived lickings before, but Rolex, Omega and Cartier now face a combination of economic punches…
Netflix urged to slow down streaming to stop the internet from breaking
The European Union is urging Netflix and other streaming platforms to stop showing video in high definition to prevent the internet…
Facebook has a coronavirus problem. It’s WhatsApp
Governments and medical officials are scrambling to provide the public with accurate and timely information about the novel coronavirus. But…
Airline operators okay ban, seek flight restriction to Lagos, Abuja airports
To complement the ban on flights from 13 countries, airlines operators yesterday urged the Federal Government to immediately restrict other…
Oil price sinks to $24, lowest in 17 years
The price of Brent crude, the international benchmark, tumbled on Wednesday to the lowest level in 17 years as global…
FAAC meeting ends in deadlock over revenue remittances
The Federation Account Allocation Committee meeting which was convened to consider statutory revenue for the month of February ended in…
FG slashes budget by N1.5tn, reduces benchmark to $30
The Federal Government on Wednesday announced a slash in the 2020 budget by N1.5tn as part of measures to respond…
FG Approves Reduction of Petrol Price
he Federal Government has approved the reduction of the pump price of Premium Motor Spirit (PMS). While there are reports…
America Looking To Send Cheques To Citizens In Aid Package Worth $250bn
US Treasury Secretary Steven Mnuchin says he supports sending money directly to Americans as part of a $1tn (£830bn) stimulus…
Coronavirus: Pound plunges to its lowest level in over 30 years
The pound has fallen to its lowest level against the dollar since 1985, as the spread of the coronavirus pandemic spooks investors.
Europe sets up emergency lifeline worth billions
The European Central Bank (ECB) has launched an emergency €750bn ($820bn; £700bn) package to ease the impact of the coronavirus pandemic.
‘Nigeria needs strategic coping mechanisms as global recession looms’
Though some initiatives are being undertaken by the Federal Government to mitigate the effect of the coronavirus pandemic on the…
America could lose 1 million jobs in March, former Trump adviser warns
The United States could lose up to 1 million jobs in March because of the severe disruptions caused by the coronavirus…
Apple brings back ‘scissor’ keyboards in latest MacBook Air
Apple Inc (AAPL.O) launched an updated version of its MacBook Air on Wednesday, modifying keyboards on its laptop line that…
Boeing leads Wall Street slump as corporate damage grows
Wall Street’s main indexes sank again on Wednesday, as growing signs of coronavirus damage to corporate America overshadowed a burst…
BREAKING: FG Places Travel Ban on China, Italy, and Nine Other Countries
The countries are China, Italy, Iran, South Korea, Spain, Japan, France, Germany, Norway, the United States of America, the United Kingdom, Netherlands and Switzerland.
Wall Street’s New Virtual Workplace May Outlast the Virus
‘The outbreak has created the urgency to try out new ideas’ In Hong Kong, bankers have learned to win stock…
The Only Question on South African Rate Cut May Be ‘How Much?
The debate around South African interest rates has now moved from whether the central bank will cut, to how much…
How the Oil Crash Is Hitting Emerging-Market Currencies
Oil’s plunge has stung currencies across emerging markets, and there’s probably worse to come. For oil and gas exporters, the…
Inflation Hits 12.20 Percent In February 2020
Nigeria’s headline inflation has recorded yet another rise to 12.20 percent in February, from the 12.13 percent recorded in January the same year.
Reps condemn prepaid cable subscription, calls for ‘pay per view’ subscription plan
The Nigerian House of Representatives has said it would investigate satellite cable television service providers in Nigeria for refusing to adopt ‘pay per view’ subscription plan.
Adidas joins Nike in announcing store closures over coronavirus
German sportswear maker Adidas (ADSGn.DE) on Tuesday joined rivals in announcing store closures in response to the coronavirus pandemic.