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 the spread of COVID-19 In a statement by Mr Funso…
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 buy back another 2 trillion yen of its shares and…
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 spread of coronavirus escalate. Previously, the fast food giant had…
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…
Airbnb Board Meets To Consider Raising Funds For Buying Assets
Airbnb Inc.’s board met this week to consider a wide range of options in response to the current economic crisis, which is weighing heavily on the business. The potential moves…
Coronavirus: Delta, Emirates, Air France, Lufthansa, KLM, others suspend flights to Nigeria
Mega international airlines based in the United States, Europe, Middle East and other parts of the world have suspended flights operations to Nigeria as the world battles to stem coronavirus…
Flights Resume In New York After Brief Halt In Arrivals
The Federal Aviation Administration (FAA) temporarily halted flights arriving at New York City airports and Philadelphia on Saturday after a trainee at the New York Air Route Traffic Control Center…
World Leaders Set Aside $1.7trillion To Help Failing Economies
Governments around the world have announced massive amounts of fiscal stimulusthis week, aiming to limit the severity of a sharp recession as the coronavirus pandemic shuts down country after country.…
Amazon To Stop Shipping Non-Essentials To Consumers In France And Italy
An Amazon spokesman said the company made the decision due to a spike in orders and the need to respect anti-coronavirus safety measures in the workplaces. “We will temporarily stop…
Germany Prepares 150 Billion Euro Emergency Budget In Coronavirus Package
Germany is readying an emergency budget worth more than 150 billion euros ($160 billion) to shore up jobs and businesses at risk from the economic impact of the coronavirus outbreak,…
U.S. Coronavirus Stimulus To Be Worth ‘North Of $2 Trillion’ -White House Aide
The White House expects the impact of economic stimulus to counter the effects of coronavirus to be more than $2 trillion, including around $1.4 trillion from a prospective U.S. Senate…
Wall Street Weekahead: Coronavirus Uncertainty Muddies Views On Buying Opportunities For Plunging Stocks
U.S. stock valuations are tumbling in the wake of the coronavirus-fueled market rout, but determining when equities are cheap enough to buy is a tricky proposition. The S&P 500’s price-to-earnings…
Exclusive: Amazon Raises Overtime Pay For Warehouse Workers
Amazon.com Inc said on Saturday it is raising overtime pay for associates working in its U.S. warehouses, as the world’s largest online retailer tries to meet the rapidly growing demand…
LVMH Orders 40 Million Masks From China For France
LVMH (LVMH.PA), the world’s biggest luxury goods group, is ordering 40 million health masks from a Chinese supplier to help France cope with the coronavirus outbreak. The first order, for…
Boeing Suspends Dividend Payment
Boeing Co (BA.N) will cancel CEO pay, suspend its dividend and extend a pause on share buybacks, the U.S. planemaker said on Friday, as companies eager for government aid to…
Coronavirus Deaths In Italy Overtake China As Economic Damage Mounts
The world’s richest nations poured unprecedented aid into the global economy on Thursday as coronavirus cases ballooned in the new epicentre Europe, with the number of deaths in Italy outstripping…
Coronavirus: Nigeria’s Aviation Industry To Lose N160bn, 22,200 Jobs
The disruption to air travel due to the continued spread of coronavirus will cost Nigeria’s aviation industry over N160.58bn (using Bureau de Change rate of N370 to $1) ($434m) in…
Bank of England cancels stress tests for UK’s biggest lenders
The Bank of England will postpone all non-critical supervisory work in the City and review plans to run the banking sector’s first-ever climate stress tests later this year. The Bank…
Nigerian Central Bank Starts Uniform Exchange Rate for Naira
Nigeria’s central bank will migrate to a single exchange rate for the naira by collapsing the multiple exchange rate policy that determined the value for the local currency, people with…
Bankruptcies about to rise – Bank of America
The market meltdown of the past few weeks is hurting various corners of the financial system. One area in which things are expected to go from bad to worse? High…
Coronavirus: Netflix To Reduce Streaming Quality In Europe To Avoid Overload
Netflix will reduce the quality of its streaming in Europe to ease pressure on the internet, the firm said, as demand soars across the continent where millions are confined to…
Apple Limits Online Purchase of iPhones To Two Per Person
Apple Inc (AAPL.O) is limiting customer purchases of iPhones over its online stores in many countries including the United States and China to a maximum of two handsets per person
Uber shares soar after CEO says enough cash to ride out coronavirus crisis
“We are very fortunate to have a strong cash position with about $10 billion of unrestricted cash as of end of February,” Khosrowshahi said on a call with analysts before…
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 aimed at curbing the spread of coronavirus, the company said…
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 that are putting them back on their heels. The industry…
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 from breaking under the strain of unprecedented usage due…
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 those efforts are being undermined by the spread of medical…
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.
Rivers port set to receive first RoRo vessel
The Nigerian Ports Authority has announced that the Rivers port is set to receive its first Roll on/Roll off (RoRo) vessel. Ro-Ro vessels are designed to carry wheeled cargo, such…
India closes Taj Mahal, Pakistan cases spike after quarantine errors
India closed the Taj Mahal, its principal tourist site, and the financial hub of Mumbai ordered offices providing non-essential services to keep half their staff at home in ramped up…