Real Time Financial News Website
Net profit for 2019 came in at 62.7 billion yuan ($8.9 billion), up 5.6% compared with a 25% jump a year earlier. Its carrier business, which includes 5G mobile network…
As most nations brace themselves for a likely surge in coronavirus cases through April, the signals from the developing world could hardly be more worrying for investors. Indexes of stocks,…
Virgin Atlantic is expected to ask for a government bailout worth hundreds of millions of pounds in the coming days, the BBC understands. Requests for state aid are also expected…
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 economies. Nigeria has said it…
Sitting calmly in front of a bookshelf filled with thick volumes of the “Federal Reserve Bulletin,” Jerome Powell this week set out to offer a simple explanation for the complicated…
The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday. “It is clear that…
The pan-European STOXX 600 index started the day about 2% lower, then fell further to trade down 3.7% at 1210 GMT after the announcement about Johnson’s test. The declines followed…
Africa’s richest man, Aliko Dangote, saw his total net worth drop by $2.5bn in the last 30 days, according to Bloomberg Billionaires Index. The index, which is a ranking of…
Supermarket Tesco has said that online shoppers will have their deliveries capped at 80 items from now on. In an email to customers it said that the aim was “to…
S&P Global Ratings and Moody’s Investors Service are downgrading U.S. companies at the fastest pace in more than a decade as debt-saddled corporations and entire industries struggle with a dramatic…
Moves in stock sectors that ordinarily take months and years to play out are happening in days as investors struggle to establish prices in the age of the coronavirus. Beneath…
As ridiculous as it sounds, the Dow Jones Industrial Average just climbed out of the bear market it entered two weeks ago.
The world may soon run out of space to store its extra oil as Saudi Arabia prepares to increase its fossil fuel production even as global demand for energy continues…
The International Monetary Fund and World Bank on Wednesday announced a hold on debt payments from Nigeria and other sub-Saharan Africa nations so that they can battle the coronavirus pandemic.…
Drugmaker Mylan NV’s (MYL.O) merger with Pfizer Inc’s (PFE.N) off-patent branded drug unit, Upjohn, will now close in the second half of this year, the companies said on Thursday, blaming…
Global smartphone sales tumbled 14% in February as the coronavirus spread in China and overseas, Counterpoint Research said on Thursday, a likely harbinger of more declines as outbreaks worsen in…
Airbnb Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown due to…
As part of its plan to cushion the effects of the dreaded coronavirus on its teeming customers, e-commerce platform, Konga, has announced a N10 million intervention package. It made this…
Chevron is pulling out all the stops to cope with the historic collapse in oil prices. The oil giant is slashing spending, scaling back its production ambitions and suspending its…
Apple Inc is expected to start re-opening some of its retail stores in the first half of April, according to an internal memo. It was not currently clear which stores…
Nike Inc (NKE.N) has beaten Wall Street estimates for quarterly revenue on Tuesday, powered mainly by demands in North America and Europe and despite drop in revenue in China due…
The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday to inject nearly $2 trillion of aid…
McDonald’s(MCD) and Nando’s will close all their restaurants in the United Kingdom and Ireland starting Monday, including for takeout, to help limit the spread of the coronavirus. Paul Pomroy, CEO…
International Monetary Fund, IMF has projected a negative outlook in 2020 for global growth following the Coronavirus pandemic, COVID-19. It also projected a global recovery in 2021 if countries are…
Wall Street’s slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, overshadowing unprecedented moves by the U.S. Federal Reserve to shore up credit across…
The Federal Inland Revenue Service, FIRS, collected tax revenue of N338.1 billion in January. The figure was slightly above average as against a tax revenue target of N620.2 billion for…
The world will take years to recover from the coronavirus pandemic, the Organisation for Economic Co-operation and Development has warned. Angel Gurría, OECD secretary general, said the economic shock was…
United Bank for Africa (UBA) and Transcorp have announced the cancellation of their 2019 Annual General Meetings (AGMs) to prevent the spread of COVID-19. The companies stated this a statement…
Oil’s epic collapse over the past month means the global crude benchmark is now priced below the most widely traded coal contract on an energy-equivalent basis, according to Bloomberg calculations.…
U.S. equity futures reversed a decline and Treasuries extended an advance after the Federal Reserve on Monday announced a massive second wave of initiatives to support the shuttered American economy.…