Chile’s LATAM Airline Files for Bankruptcy After COVID-19 Decimates Sales

Latin America’s biggest airline, the Chile-based LATAM, on Tuesday filed for bankruptcy under the U.S. Chapter 11 bankruptcy code after the COVID-19 pandemic decimated passenger demand. “The Chapter 11 financial reorganization process is a proven legal framework under which LATAM and affiliates will have the opportunity to resize their operations to the new demand environment and reorganise their balance sheets,” the airline said in a statement. The group attributed its financial difficulties to the novel...

Macron Promises 8bn Euros to Aid Virus-Hit French Car Industry

French President Emmanuel Macron on Tuesday promised more than 8 billion euros (8.8 billion dollars) to boost the country’s automobile industry, hard-hit by the coronavirus pandemic. In return, carmakers Renault and PSA – which makes Peugeot, Citroen, DS and Opel cars – had promised to maintain production on French soil and move higher-value activities back from overseas, Macron said. The announcements came days before Renault is due to announce a 2-billion-euro cost-cutting plan. The carmaker...

Carbon Launches New Social Banking Service in Nigeria

Carbon Express enables users to initiate and complete transactions such as P2P transfers and bill payments from the keyboard without launching the Carbon App or leaving the current app that they are using. Instead, they will be able to access services from the touch of their keyboard enabling quicker Instagram or Whatsapp commerce. Carbon Express maintains the same PCI DSS compliant model of encryption, authentication, and security as Carbon’s other services, thereby guaranteeing the security...

Samsung Sends 300 More Workers to China for Chip Factory Expansion

Samsung Electronics Co., the world’s largest memory chipmaker, said on Friday that it had sent 300 more South Korean engineers and workers to China to complete the expansion of its second chip manufacturing facility there amid the coronavirus pandemic. Samsung said engineers and workers, including some from its subcontractors, left for the Chinese city of Xian on a chartered flight earlier in the day. The move came a month after Samsung dispatched 200 engineers to...

Half of Facebook Employees to Work Remotely in 10 years – Zuckerberg

Facebook’s founder and chief executive, Mark Zuckerberg, says he expects the coronavirus pandemic will have a long-lasting impact on working practices. Zuckerberg expects that in ten years, about half of the social network company’s employees will be working remotely, he said in an interview with technology news site The Verge. He emphasised that the 50 per cent figure was his estimate and not an official announcement. According to a survey of Facebook employees, one in...

COVID-19: Plateau Govt Bans Commercial Tricycle Operations

Gov. Simon Lalong of Plateau has banned the operation of commercial tricycles in the state with effect from Saturday, May 23, as part of efforts to curb the spread of the novel coronavirus (COVID-19). Lalong made the disclosure during a press briefing on update of COVID-19 in the state, on Thursday in Jos. The governor who was represented by the Secretary of the state Task Force on COVID-19,  Prof. Danladi Atu, expressed concern over the...

Demolish and Evacuate New Artisan Market, ENHA Urges Enugu State Government

The Enugu State House of Assembly on Tuesday moved a motion of urgent public importance urging the Enugu State Government to demolish and evacuate the New Artisan Market situated along Enugu-Port Harcourt Expressway. In his words, the sponsor of the motion, Chinedu Okwu, member representing Aninri constituency described the horrendous activities going on at the New Artisan market as worse than that committed in Sodom and Gomorrah in the Bible. “The New Artisan Market has...

COVID-19: FCT Council Enforces Suspension of Motorcycle Operations

The Kuje Area Council in the FCT, has commenced enforcement of the suspension on all motorcycle operations in the area, aimed at curbing community spread of COVID-19. Mr Abdullahi Sabo, Chairman, Motorcycle Operators Restructuring Committee in Kuje, disclosed this in an interview with the News Agency of Nigeria (NAN) on Wednesday. NAN recalls that the council had on May 12, announced the suspension. Sabo said that the development followed the daily rise in confirmed cases...

SPECIAL REPORT: Bar Owners Suffer Losses As Coronavirus Abates Nightlife

It is past 5, Wednesday evening, and Club 7 — a club and outdoor bar is still as empty as Jacob’s kettle. From a distance, one would think the club was closed for the day considering that the curfew was night time.  The rooms looked pale, the tiles were bare. R&B songs were playing,  underlyingly into the atmosphere as though it’s high tunes can attract the deadly virus. The outbreak of Covid-19 had turned a...

Taraba NECAS Gets 30 Tractors Out of 600 Shares in the Northeast

The North-East Commodity Association (NECAS), in Taraba State, has distributed 30 new tractors for this year’s agriculture to the Association’s 16 LG Chairmen. Chief of Policy Mechanisation, Engr. Sulaiman D. Sulaiman, who disclosed this during distribution exercise in Jalingo, said the tractors would be used for commercial purposes at a subsidizing rate for farmers to ease the misery they face in the state. He said that more than two thousand people, including women and youth,...

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