Coronavirus: EU Facing ‘Deep And Uneven Recession’
The European Union faces a deep and uneven recession, according to a new forecast from the EU’s Commission. The bloc’s…
Germany Says Football Can Resume And Reopen Shops As Lockdown Is Eased
Chancellor Angela Merkel has said Germany’s goal of slowing the spread of coronavirus has been achieved, so all shops can…
Nigeria: FG Extends Flight Ban By Four Weeks
The federal government has extended the ban imposed on local and international flights by four weeks. President Muhammadu Buhari had…
Nigeria’s Oil Revenue Dries Up And May Be So For Next 3 Years
Despite Brent-crude futures rallying in recent weeks, Nigeria, is facing a fast-looming future without reliance on fiscal revenue from its…
Pfizer Begins Human Testing For Experimental Coronavirus Vaccine In The US
Pfizer said Tuesday it has begun testing an experimental vaccine to combat the coronavirus in the United States. The U.S.-based pharmaceutical giant, which…
General Motors Posts $294 Million Profit In The First Quarter Despite Crippling Production And Sales From Coronavirus
General Motors said Wednesday it eked out a $294 million profit for the first quarter despite the fallout from the coronavirus pandemic that has…
GM To Practice Social Distancing At Car Factories Once They Reopen
GM’s factories in North America will reopen for the business of making cars on May 18, the automaker revealed in…
Stocks Shed Gains, As American Private Sector Cuts 20.2 Million Jobs in April
Stocks pared some gains Wednesday to trade little changed, as investors continued to price in the possibility of more states relaxing restrictive…
Where’s The beef? Wendy’s Turns To Chicken To Prop Up Sales
Wendy’s Co (WEN.O) said on Wednesday it would focus on marketing its chicken products as it grapples with beef supply…
Qatar Airways Expects To Re-Open Routes This Month
Qatar Airways said on Wednesday it would this month start to rebuild its network, in anticipation countries will ease air…
Samsung Heir Lee Apologises Over Succession, Won’t Hand Control To Children
Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession…
World Shares Subdued Amid Mixed Earnings; Oil Falters
Global shares struggled on Wednesday as mixed earnings, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast…
U.S. Airlines Burn Through $10 Billion A Month As Traffic Plummets
U.S. airlines are collectively burning more than $10 billion in cash a month and averaging fewer than two dozen passengers…
IMF Disburses $3.4 Billion Loan To Nigeria
BARELY 24 hours after receiving $311 million Abacha loot from the United States and the Island of Jersey, the Federal…
Disney Earnings Plummet More Than 90% As Coronavirus Wipes Out More Than $1 Billion
Walt Disney Co. profit dove more than 90% in the second quarter, an example of the drastic effects on the…
Nigeria: Budget: FG To Revise Oil Benchmark To $20 Per Barrel
The Federal Government on Tuesday revealed plans to cut the oil price benchmark for the 2020 budget to $20 per…
U.S. Trade Deficit Widens, Services Sector Contracts Amid Coronavirus
The U.S. trade deficit increased by the most in more than a year in March as a record drop in…
California Sues Uber, Lyft Over Misclassifying Drivers As Contractors
California and three of its largest cities on Tuesday sued Uber Technologies Inc (UBER.N) and Lyft Inc (LYFT.O), accusing them…
BMW Cuts Margin Outlook For Cars Division, Citing Coronavirus Woes
BMW (BMWG.DE) on Tuesday lowered the outlook for the profitability of its automotive and motorcycles divisions, citing worse-than-expected demand which…
Lyft Offers New Cheaper Rides With More Waiting Time
Lyft Inc (LYFT.O) said on Tuesday it would expand its program that provides cheaper rides to customers willing to wait…
Airbnb To Lay Off 1,900 Employees
Airbnb Inc is laying off 25% of its workforce due to the coronavirus pandemic, impacting nearly 1,900 employees of the…
Nigeria Cocoa Exports Stalled Over Covid-19 Safety Protocols
Health protocols introduced by Nigerian authorities to curb the spread of the Covid-19 disease have delayed cocoa exports, leaving at…
Why There’s A Looming Debt Crisis In Emerging Markets
Solvency concerns in the developing world are nothing new. But as governments stare down the humanitarian and economic shocks of…
Digital Purchases To Be Taxed At 1.5% In Kenya
Kenya plans a 1.5% digital tax on the value of online transactions, according to proposals in the Finance Bill 2020,…
Virgin Atlantic To Cut 3,150 Jobs; Move Flights To Heathrow From Gatwick
British airline Virgin Atlantic said on Tuesday it planned to cut 3,150 jobs and would move its flying programme from…
Fiat Chrysler Plunges To Loss, But No Change To PSA Deal
Fiat Chrysler Automobiles (FCA) plunged to a first-quarter loss of $1.8 billion and scrapped its full-year earnings forecast on Tuesday,…
Trump Allies On The Sidelines In Supreme Court Financial Records Fight
Congressional Republicans who strenuously objected when a Democratic-led U.S. House of Representatives panel subpoenaed President Donald Trump’s financial records last…
Lufthansa Has No Plans To Buy Rivals Hit By Coronavirus Crisis
Lufthansa (LHAG.DE) is not planning to buy rivals weakened by the coronavirus crisis, Chief Executive Carsten Spohr told shareholders at…
France Accuses Apple Of Refusing To Help With ‘StopCovid’ App
France accused Apple APPL.O on Tuesday of undermining its effort to fight the coronavirus by refusing to help make its…
Nigeria: Naira Gains, Exchanges 430/$ As Forex Sale Resumes
The naira sold for N430 to a dollar on Monday, gaining some strength over previous week’s sales figures, following the…