Apple Boosted By Streaming Services Despite Lockdown
Apple saw growth for the first three months of the year, as falling device sales in China were offset by…
Category: Business
Buoyed By Increased Sales During Pandemic, Bezos Says Amazon Is Thinking Big
Amazon sales surged in the first three months of the year, as the coronavirus lockdown boosted demand for the firm’s…
Tesla Stocks Decline After Questions About Company’s Accounting Practices
David Einhorn, a famed short-seller, questioned Elon Musk, the CEO of Tesla Inc. (NASDAQ: TSLA), Thursday on Twitter, about the…
Maruti Suzuki, India’s Biggest Carmaker Recorded Zero Sales In April
Maruti Suzuki India Ltd., which produces more than half the cars on India’s roads, recorded no sales in the domestic…
American Airlines Posts $2.2 Billion Loss On Pandemic, First Since Bankruptcy Exit
American Airlines (AAL.O) on Thursday posted a $2.2 billion net loss, its first quarterly loss since emerging from bankruptcy in…
Twitter Sales Top Estimates, As Asia’s Ad Sales Rebounds After Ease In Lockdown
Twitter Inc (TWTR.N) on Thursday said its ads sales slightly rebounded in Asia after a plunge due to the coronavirus…
British Airways To Cut 12,000 Jobs
British Airways is set to cut up to 12,000 jobs from its 42,000-strong workforce due to a collapse in business…
Nigeria: MTN Revenue Rises To N329.2bn
MTN Nigeria reported revenue growth of 16.7 per cent to N329.2bn in the first quarter ended March 31, 2020 compared…
Ford Terminates Electric Vehicle Program With Rivian
Ford Motor Company and its luxury segment Lincoln Motor Company have announced the shelving of their plans to build a new…
Ford Reports A Loss And Drops A Bombshell In Its Outlook
Detroit auto maker and iconic American manufacturer Ford Motor’s first-quarter earnings missed Wall Street estimates. But that actually isn’t the…
Boeing To Cut Staff After $641m First-Quarter Loss
Boeing announced sweeping cost-cutting measures Wednesday after reporting a first-quarter loss of $641 million following the hit to the airline…
Boeing Eyes Major Bond Issue To Raise Funds
The preparations reflect Boeing’s confidence that it can tap the capital markets to strengthen its finances, even as the largest…
Pepsi Warns Second Quarter Revenue Will Drop
Pepsi warned on Tuesday organic revenue and operating profits would suffer in the second quarter as major buyers of its…
Adidas’ First Quarter Profit Falls By 90%
Adidas has said that sales will fall by 40% in the second quarter after the German sportswear giant saw profits…
GE’s Coronavirus Troubles Likely To Hit Power Business, Not Just Aviation
Quarantines and lockdowns at large U.S. power plants are threatening to squeeze a multibillion-dollar slice of revenue that General Electric…
Apple To Delay Mass Production Of 2020 Flagship iPhones
Apple Inc is delaying the production ramp-up of its flagship iPhones coming later this year by about a month as…
Airbnb Is Banking On A Post-Pandemic Travel Boom.
The home-rental company defined the travel industry after the last cataclysm, but may be less suited for what’s next.
Marriott CEO Says Coronavirus Pandemic Will Change Hotel Stays
Most Marriott Hotels Will Survive the Crisis, Says CEO
Tycoon Running 500 Hotels Says Virus Crisis Is Worst He’s Seen
Bill Heinecke thought he’d seen it all in a decades-long career running hotels: the Asian and global financial crises, SARS,…
Coronavirus: US Companies Already Facing Bankruptcy
A growing number of companies will file for bankruptcies in 2020 as businesses remain shuttered due to the coronavirus. Airlines, retail…
MTN Group To Reduce Stake In Nigeria
MTN Group Ltd will push on with the plan to reduce its majority stake in the wireless carrier’s business, it…
Gap Stops Paying Rents, Warns It Might Not Have Enough Cash For Operations
Gap warned on Thursday it may not have enough cash flow to sufficiently fund its operations as stores remain shut…
Why A ‘Return To Normal’ Could Mean Disaster For The Stock Market
It’s hard to deny, although some do, that the stock market, pre-coronavirus, was pushing the limits of what it means…
Target’s Shares Tumble As Retailer Says First-Quarter Profits Will Be Hurt By Higher Costs
CEO Brian Cornell said Thursday the retailer has benefited from a surge in online shopping, but warned it will have…
Netflix To Borrow Another $1 Billion Despite Record High Cash Balance
Netflix Inc. is selling new junk bonds, even as the company sits on a record high cash balance and turned its first quarter of positive cash flow in six years.
Coronavirus Propel Netflix To Huge Subscriber Gains
Netflix added a stunning 16 million subscribers in the first quarter of 2020, as the coronavirus pandemic led people to stay at home and binge on hit docuseries, such as “Tiger King,” and reality shows like “Love is Blind.
Aston Martin To Focus On Production Of SUVs
Aston Martin’s (AML.L) immediate priorities will be restarting manufacturing and launching production of its crucial first sport utility vehicle, the…
Volkswagen Settles Emission Class Actions With Three-Quarters Of Claimants
Volkswagen has reached settlements with 200,000 of the 260,000 claimants participating in a class action lawsuit brought by German consumer group…
Nigeria Report: Investment-led Strategy Critical for Economic Recovery – Bismarck Rewane
The Managing Director, Financial Derivatives Company Limited and a member of President Muhammadu Buhari’s Economic Advisory Council (EAC), Mr. Bismarck…
Nigeria: How To Access N50bn COVID-19 Intervention Fund – CBN
The Central Bank of Nigeria says interested stakeholders must meet its set criteria to access its N50bn intervention loans for…