European Commission Intensifies Fight Against Money Laundering
The European Commission has blacklisted several countries with weak laws against money laundering and terrorist financing activities. They are the Bahamas, Barbados, Botswana, Cambodia, Ghana, Jamaica,Mauritius, Mongolia, Myanmar, Nicaragua, Panama [...]
Emirates Group Profit Drops 28%
Emirates Group has recorded a 28% decline in full-year profit as the impact of the coronavirus cut into earnings in March. The group results show that net income for the [...]
Global Markets News Headlines for Today
According to US media, Tech firms Facebook and Google will allow most of their staff to continue working from home till the end of 2020. Facebook had earlier cancelled all [...]
Alitalia's $3.3 Million Cash Injection from State
Italy’s flag carrier, Alitalia, is set to receive a $3.3 million cash injection from the Italian government as it plans on nationalizing the carrier. In March, the Italian government approved [...]Uber to Layoff 14% of its Workforce
Ride-hailing firm, Uber plans to layoff 3700 employees working in customer support and recruiting teams globally, approximately 14% of the workforce. The company's CEO will forgo the base salary for [...]Daily Global Markets Coverage
Pinterest Inc. revenue for Q1 2020 landed GREW 35$ to $272 million while its net loss deepened by 241% to $141 million from a net loss of $41.4 million posted [...]Virgin Atlantic Cuts 3000 Jobs
UK airline, Virgin Atlantic, says it will cut 3,150 jobs owing to the COVID19 pandemic. The move aims to cut costs and preserve cash. CEO Shai Weiss said the company [...]Airbnb Slashes 25% of Jobs
Airbnb has announced plans to lay off 25% of its workforce in the wake of the coronavirus that has continued to take a toll on businesses across the world. According [...]Uber Lyft Sued Over Misclassifying Workers
The Attorney General of California, alongside city attorneys of San Francisco, Los Angeles and San Diego have jointly sued ride-hailing companies, Uber and Lyft on grounds of misclassifying their workers. [...]Uber Eats Closes Operations in Seven Markets
Uber's food delivery platform, Uber Eats has announced plans to exit seven markets across the world, with the company reiterating that the changes are not in any way related to the [...]Ireland Becomes AfDB's 81st Shareholder
The Republic of Ireland has become the African Development Bank Group’s 81st shareholder, following a declaration issued by the institution’s President, Akinwumi Adesina, on 24 April 2020. Ireland’s application to [...]Apple, Exxon Amazon Earnings Brief
Exxon reports $610M Q1 Loss, first time in 32 years Exxon Mobil reported a loss of $610 million in the first quarter of 2020 from a profit of $2.35 billion [...]
