French Electronics Giant Gets $542 Million State Loan
French electronic giant, Fnac Darty, has received a $542 million state loan to help it stay afloat amid the global COVID-19 pandemic that has had a negative impact on businesses. [...]
Facebook Buys Minority Stake in Indian Firm for $5.7B
Facebook has completed a $5.7 billion deal in India's Jio platforms thereby becoming the largest minority shareholder. The social media giant will own about 10 percent of Jio platforms which [...]
Virgin Australia Enters Voluntary Administration
Richard Branson's airline, Virgin Australia, has entered into voluntary administration so as to recapitalize the business amid the global COVID-19 pandemic. The air carrier failed to secure $1.4 billion funding from the [...]Uber Launches New Delivery Services
Ride-hailing company, Uber Technologies, has launched new delivery services, dubbed Uber Connect and Uber Direct, a move that suggests a shift in the company's business, seeing that the COVID-19 pandemic [...]Norwegian Air to Lay off About 4700 Pilots Crew
Norwegian Air has announced plans to lay off 4,700 pilots and crew members as it grapples with the negative impacts of COVID-19 that has seen all its international flights suspended. [...]US Oil May Contracts Crash 300% to Below $0
The West Texas Intermediate (WTI) crude May futures shocked markets in late Monday trading as they fell below $0 to lows of -$37.63 per barrel. The historic lows were due [...]Crude Falls to Lowest in Decades
United States crude benchmark West Texas Intermediate extended losses on Monday, falling by more than 35% to $11.24 per barrel, its lowest since 1998. The decline was mainly driven by [...]Global Markets Weekly Review
Global markets continue to bear the brunt of COVID19 pandemic that has threatened to ground things to a halt. The week commencing 13 April and ending on Friday 17 was [...]US Jobless Claims Hit 22 Million in Four Weeks
Shares in the United States on Thursday closed on a positive note with the technology sector lifting market sentiment led by Netflix and Amazon. The Dow closed the day 0.14% [...]G20 Suspends Debt Repayment for World's Poorest Countries
Officials from the G20 countries (Group of 20 major economies) have announced plans to suspend both principal repayments and interest payments on loans for the world's poorest countries. The waiver [...]Carmakers Set to Reopen Plants in Europe
Carmakers are slowly preparing to reopen their manufacturing plants in Europe, after temporarily shutting them down in a bid to prevent the spread of coronavirus. Toyota, Renault, Hyundai, Volkswagen, and [...]Amazon Stock hits new all-time high amid virus outbreak
Shares of American e-commerce company Amazon.com Inc. on Tuesday rose to a new all-time high as the coronavirus-related lockdowns pushed customers to increase usage of internet services. In order to [...]
