Low Oil Demand Faces Further Threat From Electric Vehicles
Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their…
How Post-Pandemic Office Spaces Could Change Corporate Culture
By now it’s very clear that the coronavirus pandemic will change the way we work in offices — perhaps indefinitely.…
Walmart’s Same-Store Sales Rise 10%, Online Revenues Surge
Walmart Inc’s (WMT.N) first-quarter U.S. comparable sales rose 10% and the retailer reported a 74% rise in online…
Oil Production Cut Will Deepen Nigeria’s Recession, Says Fitch
A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led…
Nasdaq To Tighten Listing Rules, Restricting Chinese IPOs
Nasdaq Inc (NDAQ.O) is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it…
Coronavirus: UK Jobless Claims Increased By 70% in April
The number of people claiming unemployment benefits in the U.K. soared in April, as the coronavirus outbreak…
Huawei Says New US Sanctions Puts Its Survival At Stake
Huawei has warned that its survival is at stake following the US government’s latest efforts to cut the Chinese…
SoftBank Values WeWork At $2.9 billion, Down From $47 Billion A Year Ago
SoftBank Founder and CEO Masayoshi Son said Monday he was “foolish” for his firm’s multibillion investment in…
Are Oil Prices Rising Too High Too Soon?
Oil prices have rallied significantly, rising $10 in two weeks as markets are increasingly convinced that global…
Germany, France Propose 500 Billion-Euro EU Economic Recovery Fund
The leaders of Germany and France proposed Monday a 500 billion-euro ($543 billion) recovery fund for European…
SoftBank Is Selling Parts Of Its T-Mobile Stake In A Secondary Offering
SoftBank is selling part of its stake in T-Mobile through a secondary offering, CNBC’s David Faber reported Monday.…
Uber Cuts 23% Of Its Workforce, To Focus On Ride-Hailing And Food Delivery
Uber Technologies Inc (UBER.N) will concentrate on its core businesses in ride-hailing and food delivery and cut…
Japan Slips Into Recession As Coronavirus Takes Toll
Japan has fallen into recession for the first time since 2015 as the financial toll of the coronavirus continues to…
Nigeria: FG Refineries Suffer N19bn Loss In Two Months
The refineries owned by the Federal Government recorded a total loss of N18.96bn in the first two months of this…
Nigeria: President Buhari Extends Gradual Ease Of Lockdown By Two More Weeks
The Federal Government, on Monday, said the recent order of the President, Major General Muhammadu Buhari (retd.),…
UK Aims To Roll Out 30 Million Doses Of Coronavirus Vaccine By September
The U.K. could roll out 30 million doses of a Covid-19 vaccine as early as September, according to the British…
Jack Ma Quits SoftBank’s Board As Its Vision Fund Posts A Record $18 billion Loss
Alibaba founder Jack Ma is stepping down from the board of SoftBank after the company’s Vision Fund posted…
Ryanair To Cut Up To 3000 Jobs
Ryanair is negotiating pay cuts, unpaid leave and up to 3,000 job losses with its employees and trade unions,…
Workers Who Still Have Their Jobs Are Happier But Working Harder
Since Covid-19 shelter-in-place orders came into effect in the U.S. in mid-March, the workforce has undergone a…
Outdoor Furniture Sales Grow As Customers Prepare For A Summer At Home
With the travel industry crushed by the coronavirus pandemic, it’s more than likely that people will be staying…
NIgeria: FG Impounds British Aircraft In Lagos, Begins Investigation
The Federal Government on Sunday impounded an aircraft belonging to a British company, FlairJet for operating…
U.S. Auto Industry To Begin Reopening Plants In Recovery From Pandemic
The U.S. auto industry is slowly returning to life, with vehicle assembly plants scheduled to reopen on Monday and…
Oil And European Shares Rise As Lockdowns Ease; Gold Jumps
European stock markets rose on Monday and oil prices climbed to their highest in as much as two months as a…
Nigeria: CBN Naira Defence Depletes Foreign Reserves By $3.17bn
Forex scarcity due to falling crude oil price forced the Central Bank of Nigeria to access the country’s foreign…
Coronavirus: Emirates Plans To Cut About 30,000 Jobs
Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring…
Uber To Require All Users And Drivers To Wear Face Masks Before Embarking On Every…
Uber will from Monday require all riders and drivers to wear face masks or coverings before embarking on a journey,…
Buffett Sells More Stocks, Including Goldman Sachs, Without No Big Acquisitions In…
Billionaire investor Warren Buffett, who told investors earlier this month that he had made a “mistake” betting on…
As Oil Prices Continue To Slump, Saudi Arabia Increases Taxes And Cut Spending
Saudi Arabia’s economic downturn is about to worsen. Already reeling from the slump in oil prices and lockdowns…
A Month After Negative Oil Prices, U.S. Crude Contracts Expiry Looms
A month after sellers had to pay nearly $40 a barrel to get rid of U.S. oil futures, the next watershed moment…
Italy Looks To Reopen Borders Next Month As Lockdown Measure Ease
Italian Prime Minister Giuseppe Conte outlined a further loosening of movement restrictions on Saturday, including…