Global stocks kick-start the new month in red zone Major global stock markets within our coverage this week closed in the red zone, as several investors dumped equity assets amid expectation of mixed Q3 earnings performance.
This bearish perception was further reinforced by the US labour statistics for the month of August 2020 released this week, as the actual number of people added to non-farm payroll came in marginally low (1.37 million) compared to the minimum expectation (1.4 million).
As a result of the above, the three leading indices in the U.S., the DJIA, the S&P 500, and the NYSE Composite indices fell by 1.29%, 1.89%, and 2.12% w/w respectively, while in other Advance Economies, the German DAX, the UK FTSE 100, and France CAC 40 all shed 1.46%, 2.78%, and 0.76% w/w respectively, save for Japanese Nikkei 225 which gained 1.41% w/w as the current prime minister, Shinzo Abe, announced his decision to step down for health reasons.
Across Emerging Markets within our coverage, sell pressure reigned in China, India, Brazil, and South Africa (to mention but few), with week-on-week losses of 1.42%, 2.81%, 1.48%, and 3.89% respectively.
HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR
CredoLab raises USD 7m to expand its market reach in Africa and other new markets
CredoLab, a leading developer of bank-grade digital credit scorecards based on smartphone metadata which launched in Nigeria, Kenya, and South Africa, last year, has secured USD 7 million in its Series-A round funding led by GBG, the global specialist in identity data intelligence.
Cars with embedded connectivity to reach 200m by 2025, with 5G adoption set to soar
A new study from Juniper Research has found that the number of cars with embedded connectivity will reach 200 million globally by 2025; rising from 110 million in 2020. One of the main beneficiaries of this growth will be mobile
Nitro121 promises bespoke offerings to clients, celebrates 15th anniversary
The leading brand-building and marketing communication company, Nitro 121 (formerly known as 141 Worldwide), turns fifteen on the 1st of September 2020 and promises to continue to deliver bespoke marketing communications services to clients and other partners.
Top 25 most valuable aerospace and defence brands could lose over $22bn of brand value from COVID-19
Aerospace and defence sector heavily impacted by COVID-19 pandemic, brands could lose up to 20% of brand value, equating to a US$22.8 billion loss cumulatively
Ikeja Electric’s bilateral power attains first-year milestone as customers score service high
Ikeja Electric Plc (IE), Nigeria’s largest Electricity Distribution Company, is celebrating the first year anniversary of its Willing Buyer, Willing Seller initiative dubbed Bilateral Power by customers. The company’s Bilateral Power service promises customers a minimum of 20 hours of power supply and improved service in exchange for cost-reflective tariffs.
Nigeria Rugby Union signs kit sponsorship deal with BLK Sports
British Apparel Company BLK Sport and The Nigeria Rugby Football Federation (NRFF) have signed an exclusive long-term kit sponsorship/partnership deal aligning with the Company’s global strategy.
Apple reportedly bought VR startup Spaces, the tech giant’s eighth disclosed acquisition of the year. We discuss Apple’s moves in the VR space — including a patent for reducing motion sickness while working virtually in a vehicle.
IITA invests in development and implementation of seed yam certification system in Nigeria
IITA renovated and equipped the diagnostic laboratory of the National Agricultural Seed Council (NASC) at their headquarter in Sheda, Abuja, with equipment worth $100,000 for seed quality control and Seed Tracker e-certification system. A PCR for DNA amplification and other laboratory equipment will allow technicians of the seed regulatory agency to conduct diagnostics and seed quality testing in line with the amended existing standards for seed yam.
In line with its continuous commitment to youth development in Nigeria, MTN Foundation, the CSR arm of Nigeria’s leading ICT company, MTN Nigeria, has engaged leading minds in the Nigerian entertainment and media industry for this year’s edition of MTN’s Business of the Art Series.
