Cryptocurrencies like Bitcoin and Ether were becoming increasingly popular in Nigeria. Some businesses and individuals are turning to it for cross-border payments and trades, thereby bypassing hurdles of scarce FX. As the prohibition on crypto accounts takes effect, GuardianTV explains what you should know about CBN's cryptocurrency bank account ban
Following a call of defiance from the “Highlanders’ Veto” movement, the first restaurants and hotels in Poland’s Tatra Mountains re-open despite a partial lockdown. Police and health officials have conducted inspections, fining business owners 30,000 zloty (around 6,600 euros) each. On Monday, Poland's government extended most of the anti-virus restrictions through the end of the month, requiring ski slopes, gyms and hotels to remain closed to the general public and restaurants to only do takeaway service.
A contentious proposal to hold businesses liable for human rights and environmental abuses around the world has been voted down in Switzerland. The plan won popular support in Sunday’s referendum, with 50.7 percent voting “yes”, but it failed to win support in a majority of cantons. Plus, Brexit talks resumed on Saturday but no breakthrough has been made. The risk of the UK crashing out of the Single Market without a trade deal is rising as the current transition period is set to expire at the end of this year.
French business organisations have warned that a wave of bankruptcies may result from the second national lockdown, which begins on Friday. With all non-essential shops shut, many retailers will be closed for part of the key pre-Christmas trading period. Also today, French luxury giant LMVH's deal to buy the jeweller Tiffany is back on after the American company's board reduced the sale price for the firm's shares.
The French government says it will do “everything it can” to support businesses affected by the new Covid-19 restrictions, including a 9pm-6am curfew in France’s main cities. Finance Minister Bruno Le Maire has outlined further aid to help businesses and households, as the country struggles to control the spread of the coronavirus. Also in the show - tech companies face more regulations in Europe, and US unemployment claims spike.
Businesses and local people in southeastern France are counting the cost of damage from Storm Alex, which led to major flooding in parts of the Alpes-Maritime region. The French government has pledged an initial fund of €100 million towards rebuilding efforts. The flooding damaged roads, bridges and buildings, cutting off access to some villages. Also today: we bring you the latest on talks between Democrats and Republicans over a rescue package for the US airline industry, after President Donald Trump called off negotiations over a wider stimulus plan.