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LEBANESE CURRENCY COLLAPSE
Lebanon is facing an unprecedented economic crisis and the local currency has already lost about 60% of its value. The central bank’s policies have come under fire while citizens are protesting how the government handles the economic meltdown which led to people’s living situation deteriorating “terrifyingly.”
RYANAIR CUTS 3,000 JOBS AND KEEPS 99% OF ITS FLIGHTS GROUNDED
Ryanair is planning to cut up to 3,000 jobs and operate less than 1% of flights through June after warning that passenger demand and pricing will take at least two years to recover from the coronavirus pandemic.
CRYPTOCURRENCY TRADING SURGES IN MALAYSIA
Cryptocurrency trading in Malaysia has surged as the country endures an extended lockdown, costing its economy an estimated $550 million a day. Regulated cryptocurrency exchanges are reporting substantial growth in trading volumes and new users as people seek “a good store of value in difficult economic times.”
LONDON BITCOIN MINER ARGO BLOCKCHAIN REPORTS 1.000%
London Stock Exchange-listed bitcoin miner Argo Blockchain Plc said on Wednesday full-year 2019 revenue rocketed 1,000% to £8.62 million ($10.78 million) from £760,000 a year earlier. The company stated that the increase was due to a realignment of operations, from consumer-oriented mining as a service (MaaS) business to a proprietary mining model.
ODEON BANS ALL UNIVERSAL PICTURES FILMS
Odeon Cinemas has banned screenings of all films from the Fast & Furious maker Universal Pictures after the studio said it would break with tradition and skip releasing some films in cinemas, instead making them directly available on streaming and on-demand services.
FLEXIBLE WORKING WILL BE THE NEW NORM
After having worked remotely and flexible there is much conversation going on as to what will happen after the pandemic. The chief executives of Barclays and WPP are predicting an end to crowded city centre offices and rush hours as flexible working becomes the new normal to keep the workforce healthy amid the Covid-19 crisis.
OIL PRICES FALL ON FRESH OVERSUPPLY CONCERNS
Oil prices seemed set for another volatile week, with both key benchmarks falling sharply on Monday on concerns that the world is running out of places to store excess supplies of crude due to a coronavirus-induced plunge in demand.
AMAZON STOCK IS CORONAVIRUS PROOF
Amazon has come under fire lately from workers in warehouses concerned about their safety during the Covid-19 pandemic however this controversy isn't making investors nervous. In fact, it's quite the opposite!
AMAZON DONATES $310,000 TO BOOKSHOPS
Amazon has been revealed to be behind a mystery £250,000 ($310,000) donation to a charity that supports independent booksellers in the UK and Ireland.
NETFLIX GETS 16 MILLION NEW SIGN-UPS
Netflix has seen subscriber numbers surge this year, as lockdowns around the world keep people at home where they want to be entertained.