Uber Posts Better Than Expected Loss of $6.8bn in 2020
Uber, the ride hailing app based taxi posted a loss of about 6.8 billion dollars last year. This is better than the $8.5 billion it lost in 2019. The company
Uber, the ride hailing app based taxi posted a loss of about 6.8 billion dollars last year. This is better than the $8.5 billion it lost in 2019. The company
Germany’s Commerzbank said on Thursday its net loss deepened to $3.3 billion in the fourth quarter, as the lender undergoes a major restructuring and deals with the fallout of the
The United States has sold more than a million barrels of Iranian fuel seized under its sanctions programme last year, a Department of Justice official said, as another ship with
The Senate has confirmed the reappointment of Ahmed Kuru as the managing director of Asset Management Corporation of Nigeria (AMCON) for a second term in office. President Muhammadu Buhari had in
Twitter has posted record revenues for the last quarter of 2020, capping off what its chief executive said was “an extraordinary year” for the platform. The social messaging platform said
Heineken is to cut 8,000 jobs and seek €2bn of savings over two years as new chief executive Dolf van den Brink reshapes the world’s second-largest brewer in a pandemic
The Dangote Group has said the company’s 650,000 barrels per day refinery being built in the Lekki area of Lagos state will be commissioned by December 2021. Edwin Devakumar, the Executive Director, Projects and Portfolio
Japan’s Toyota Motor Corp on Wednesday reported a bigger-than-expected 54% jump in third-quarter profit and jacked up its full-year earnings forecast, boosted by a rebound in demand for cars as
Japan’s No. 3 automaker Nissan Motor Co on Tuesday trimmed its loss forecast for the current financial year by more than a third as the automaker benefited from a rebound
China’s smartphone shipments nearly doubled in January 2021 versus a year ago, government data published on Tuesday showed, rebounding from a coronavirus-induced slump in the beginning of last year. Shipments
Oil prices edged up to their highest in 13 months on Tuesday as supply cuts by major producers and optimism over fuel demand recovery support energy markets. Brent crude futures
The International Monetary Fund has stressed the need for Nigeria’s federal government to intensify revenue mobilisation in order to reduce fiscal sustainability risks. It also advised the federal government to
Analysts on Monday predicted a faster economic recovery for Nigeria as crude oil prices, at $60 per barrel, hit a new high since February 2020. The analysts, however, urged the
The Chairman and Founder of the BUA Group, Alhaji Abdulsamad Rabiu, has called for the liberalisation of Nigeria’s cement policy to boost production and subsequently crash the price of the
Tesla, the electric car company run by the world’s richest person, Elon Musk, revealed on Monday that it had bought $1.5bn (£1.1bn) in bitcoin and said it may soon accept payment
Kingsley Moghalu, a former Deputy Governor of the Central Bank of Nigeria (CBN) has described the clampdown on cryptocurrency by the country’s apex bank as unnecessary, likening it to a
South Korea’s Hyundai Motor Co said on Monday it is not now in talks with Apple Inc on autonomous electric cars, just a month after it confirmed early-stage talks with
The Central Bank of Nigeria (CBN) has opened investigations into bank accounts of companies involved in the trading of cryptocurrencies with the intention of blocking those with suspicious transactions and
The Nigerian National Petroleum Corporation (NNPC) on Sunday put its total earnings from export sales of crude oil and gas in November 2020 at $108.84 million. In a release on
President Muhammadu Buhari, former Lagos State Governor, Senator Bola Tinubu; former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala; President, African Development Bank (ADB), Dr. Akinwunmi
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