Business

Uber said Wednesday it was cutting 3,700 jobs amid a huge slump in its ride-hailing operations during the pandemic. The cuts amount to around 14 percent of Uber’s global workforce, which does not include its contract drivers. The…

South Africa’s sudden resolve to sell its cash-burning state-owned firms provides key learning for Nigeria as it desperately seeks to ease pressure on government finances in the wake of the COVID-19…

Oil prices rose for a fifth consecutive day Tuesday, with the international crude benchmark Brent trading for $30.31 its best level since April 13. Equities also soared on hopes for…

Virgin Atlantic has announced plans to lay off 3,150 staff and move its operations from Gatwick Airport to Heathrow Airport. The layoff represents almost one-third of the airline’s total…

The year 2020 began with lots of predictions and promises, but the volatility in the stock market (which was occasioned by the Coronavirus pandemic) was not top on…

Massive stimulus to support the U.S. economy through the coronavirus crisis will cause the Treasury to borrow a record $3 trillion this quarter. The department on Monday announced the  total Monday. “The increase in privately-held net…

Fidelity Bank has reported N6.6bn Q1 profit, and has reassured its stakeholders that it will continue to take measures to ensure the safety of customers, staff, and others during the COVID-19 pandemic. This is just…

An estimated 84 million barrels of Nigerian crude oil is currently stranded at sea, a report by Wall Street Journal has said. In an April 27 report, the newspaper said cargo ships filled with Nigerian crude had nowhere to go and…

Oil prices fell in early trade on Monday, paring last week’s gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery. The…

Access Bank Plc has urged its customers and the general public to disregard social media report of its shutting 340 branches nationwide. Responding to enquiry,…

lockdown imposed by federal and state governments to control the spread of the coronavirus has created a supply glut in the poultry products market. This is similar to the happenings in the global crude oil market where movement…

Warren Buffett’s Berkshire Hathaway Inc. reported a record $49.75 billion first-quarter net loss on Saturday at the annual general meeting. The loss reflected huge unrealised losses on…

The Association of Progressive Nigerians has appealed to the Central Bank to withdraw old and tattered naira notes from circulation as the country is battling COVID- 19 pandemics. The group…

          Tesla's founder Elon Musk wiped $14bn off the carmaker's value after tweeting that its share price was too high. The tweet also knocked $3bn off Mr Musk's own stake in Tesla as investors promptly bailed out of the company.…

Technology giant Apple reported 58.3 billion dollars in revenue for its second fiscal quarter on Thursday, indicating a 1-per-cent increase in revenue compared with last year, thus beating wide-spread analyst projections. “Despite…

Federal Inland Revenue Service (FIRS) is to waive interests accruable to debts as well as the related penalties for defaulting taxpayers if they fully settle their indebtedness on or before May 31.…

MTN Nigeria reported revenue growth of 16.7 per cent to N329.2bn in the first quarter ended March 31, 2020 compared with N282.1bn in the same period in 2019. The growth, according to the…

With gradual easing of the COVID-19 lockdown in Nigeria and elsewhere, Central Bank of Nigeria (CBN) says it has resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay schools fees…

Shareholders of FCMB Group Plc have again applauded the financial institution for its resilience, dynamism and impressive performance recorded last year despite the…

BP on Tuesday said it slumped into a $4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. “The economic impact of the COVID-19 pandemic coupled with pre-existing supply and demand factors…

The Central Bank of Nigeria (CBN) has lifted suspension placed on cheque instruments in the Nigerian clearing system. Consequently, cheque instruments will be allowed to pass through the…

Amid the growing revenue strains, the Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Muhammad Nami, has appealed to corporate bodies…

The Federal Government is not considering tinkering with the $30 per barrel oil price benchmark for the 2020 budget despite the drop in crude oil price, investigations have revealed. Crude…

The price of Venezuelan oil has fallen to below $10 a barrel — its lowest level in more than two decades, the government said. The oil ministry said the price between Monday and…