companies

Companies Hit Pause Button As Coronavirus Infects Economy

March 19, 2020 5:13 pm

Layoffs, cutting costs and halting dividends… companies are scrambling to adapt as the coronavirus emergency hits demand and draconian measures taken to contain the illness undercut production and demand.

With the economic impact of COVID-19 threatening the survival of many firms, governments have pledged hundreds of billions to help them limp along — or failing that, to bankroll outright rescues or nationalisation if necessary.

Here are some measures companies have taken:

– Suspending production –

Several industrial giants, in particular in the automobile industry, have reduced or even suspended production.

America’s “Big Three” car makers — General Motors, Fiat Chrysler …

Smoke Or Vape: The Growing Public Health Debate

March 15, 2020 4:44 pm

As the debate rages globally over cigarette smoking and the much-touted smoke-free alternatives, such as e-cigarettes, which are being presented by tobacco companies as safer options for smokers, truth sometimes get killed in the stampede and falsehood often ascends the throne.

Meanwhile, there has been no conclusive study disputing the safety of smoke-free devices. The closest was research by University of California’s scientists Stanton Glantz and Dharma Bhatta which concluded that conventional cigarettes and vapers carried similar risk, with increased likelihood of a heart attack when both are used. The study was originally published on June 5, 2019 and concluded …

Nigerian Insurance Companies Get Recapitalisation Deadline

December 31, 2019 12:50 pm

The National Insurance Commission (NAICOM) has extended the recapitalisation deadline for Insurance and Reinsurance Companies earlier slated for June 30, 2020 to December 31, 2020.

A circular with No: NAICOM/
DPR/CIR/25-03/2019 /DECEMBER 30, 2019 signed by Mr Pius Agboola, Director, Policy and Regulation, NAICOM for the Acting Commisioner for Insurance, Mr Sunday Thomas, conveyed the new directive to all insurance and reinsurance companies.

It reads: “This circular is in furtherance to our earlier circulars referencedNAICOM/DPR/CIR/25/2019 dated May 20, 2019 and NAICOM/DPR/CIR/25-01/2019 dated July 23, 2019 on the above
subject matter.

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Nigeria Targets Oil Companies For Greater Share Of Profits

November 12, 2019 2:35 pm

In a move Nigeria’s president hailed as a “landmark moment”, Africa’s largest oil producer approved legislation this week to bolster its share of revenues from international majors.

The authorities say the amendment — heralded as the biggest change in decades to its production sharing deals — will bring billions of dollars into state coffers as the country belatedly claims an “equitable share” of its vast natural resources.

But oil industry insiders have slammed the change as an ill-planned attempt to grab the money and warn that it could prompt an exodus of investments as foreign firms turn their backs on …