President Donald Trump wants the country open for business by mid-April, but some experts warn it’s not as easy as flipping a switch: Economies run on confidence, and that is likely to be in short supply for as long as […]
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Business
Stock markets suffered a further hammering Monday despite massive economic stimulus efforts worldwide, with investors spooked by a mounting death toll from the coronavirus pandemic. The negative mood was fuelled by the failure of US lawmakers to agree on a […]
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YouTube to reduce streaming quality in Europe due to coronavirus
Alphabet Inc’s (GOOGL.O) YouTube said on Friday it will reduce its streaming quality in the European Union to avert internet gridlock as thousands of Europeans, constrained by the coronavirus outbreak, switch to working from home. YouTube is the second company […]
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Politics
Nigeria Trims 2020 Budget as Oil Price War and Coronavirus Weigh Down on Economy
The Federal Government of Nigeria, on Wednesday, announced the cutback of N1.5 trillion from the 2020 budget of N10.59 trillion, as part of measures to curtail the effect of coronavirus on the nation’s economy. The Minister of Finance, Budget and […]
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Layoffs, cutting costs and halting dividends… companies are scrambling to adapt as the coronavirus emergency hits demand and draconian measures taken to contain the illness undercut production and demand. With the economic impact of COVID-19 threatening the survival of many […]
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Gamers breathed a sigh of relief on Wednesday after the end of a network outage that affected Nintendo’s online games, with internet-based systems under increasing pressure from people staying home over coronavirus. “The issue with our network services has now […]
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Jack Ma, founder of Alibaba and one of the richest people in the world, is donating millions of testing kits, masks and protective suits to the African continent in its fight against the pandemic. Ma’s foundation will contribute a total […]
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World
Apple fined record $1.2B in France over anti-competitive sales practices
The wheels of the regulatory machine continue to turn, and today Apple, along with two of its wholesale partners, was dealt a major blow in France over antitrust violations, by receiving the biggest-ever fine levelled against a business over anti-competitive practices and […]
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Oil prices extended the gloom on Monday after a Saudi-Russian price war and an equities meltdown sparked by the coronavirus pandemic saw their biggest weekly losses in more than a decade. US benchmark West Texas Intermediate (WTI) briefly fell below […]
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Business
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World
Global equity markets crash on virus fears, oil prices plunge
Equity markets collapsed Monday as the rapidly spreading coronavirus fans fears for the global economy, while a crash in oil prices added to the panic with energy firms taking a hammering and wiping hundreds of billions off valuations. As the […]
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