BUSINESS

BUSINESS

Western Union Seeks MoneyGram In Acquisition Bid?

According to press reports, Western Union is in an acquisition bid to takeover MoneyGram, but the deal is yet to be finalized. If the offer is successful, it will join two of the largest remittance firms in the world. Western Union brought in US$4.4 billion in revenue from its consumer-to-consumer segment in 2019, while MoneyGram recorded over US$1.1 billion in […]

BUSINESS

Mnuchin — Keep The U.S. Economy Open

Treasury Secretary Steven Mnuchin said that shutting down the U.S. economy for a second time to combat the spread of Covid-19 isn’t a viable option and could cause even more headaches for Americans. “We can’t shut down the economy again. I think we’ve learned that if you shut down the economy, you’re going to create more damage,” said Mnuchin in […]

BUSINESS

Spirit Airlines Set To Fly Again To The Caribbean

According to press reports, Spirit Airlines is reportedly planning a major re-launch of its flight service to the Caribbean over the next two months. This comes against the backdrop of the closure of Caribbean countries as they took steps to arrest the COVID-19 pandemic which has been wreaking havoc around the world. Regional magazine Caribbean Journal says the low-cost carrier […]

BUSINESS

The U.S. Economy Belches

The U.S. economy roars back in May after suffering record losses in the prior months. Some financial analysts have concluded that this is a clear sign that the downturn triggered by the COVID-19 pandemic may have been left behind. However, others have expressed caution and warned that challenging times lie ahead. The Labor Department’s statistics revealed jobless rate falling to […]

BUSINESS

Barbados Gets IMF’s US$139 million

The International Monetary Fund (IMF) has announced that it was making US$139 million available to Barbados. The disbursement is to assist the country in its implementation of the comprehensive Economic Recovery and Transformation (BERT) plan to turn around the economy. The Washington-based financial institution says the funds followed the successful third review of the IMF’s extended arrangement under the Extended […]

BUSINESS

OPEC In Oil Cut Deal

The Organization of the Petroleum Exporting Countries (OPEC) and allied nations have agreed to extend production cut of nearly 10 million barrels of oil a day through the end of July. The intergovernmental Organization is seeking to boost energy prices hard-hit by the pandemic. Ministers of the body and outside nations like Russia met via video conference to adopt the […]

BUSINESS

Oil Prices Up

Oil prices rally on Friday to post its best month ever as crude prices delivered gains of nearly 100% for May after rebounding from their lowest levels in history. West Texas Intermediate crude climbed up $1.78 at $35.49 per barrel, erasing early weakness in the session that pushed U.S. crude to as low as $32.26 at one point. Brent oil […]

BUSINESS

Apple Set To Reopen In U.S.

Apple Incorporated plans to reopen about 100 U.S. stores, mostly with curbside pickup but some with walk-in service. The company made the announcement earlier in the week. Apple shuttered stores worldwide as the coronavirus pandemic spread but has slowly opened them based on local health data. The company reopened a small number of stores earlier this month in Alaska, Idaho, […]

BUSINESS

Boeing Set To Cut Jobs

Boeing says it is eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 US workers as the largest American planemaker restructures in the face of the coronavirus pandemic.  Boeing also disclosed it plans several thousand remaining layoffs in the next few months but did not say where those would take place. The company announced in April it would […]

BUSINESS

JetBlue, United Airlines Takes Safety Measures Amidst COVID-19 Pandemic

The COVID-19 pandemic has almost brought travel by air in the U.S. to a halt. Passenger traffic is down about 94 percent, and half of the industry’s 6,215 planes are parked at major airports and desert airstrips, according to Airlines for America, a trade group. Now, with the opening up of the country, airlines expect an increase in domestic travel […]