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…
Category: Business
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…
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…
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 the number of infections rises. The restrictions are expected to dampen the country’s already dire economic outlook, with the Reserve Bank saying the country is likely to contract 0.2% this year, after slipping into a recession at the end of 2019.
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,…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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)…
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 measures to curb the coronavirus in South Asia.