Facebook hires former UK deputy prime minister as head of global affairs
Facebook Inc (FB.O) has hired former British Deputy Prime Minister Nick Clegg to lead its global affairs and communications team, as the social network deals with a number of scandals...
China economic growth slumps to weakest since 2009, demand ebbs as trade war bites
China’s economic growth cooled to its weakest pace since the global financial crisis in the third quarter, raising pressure on Beijing to step up policy support as a years-long campaign...
It costs more to ship goods to Nigeria from US than any other destination
Shipping goods to Nigeria by sea from the United States can leave a big hole in your pocket. Analysis on overseas cargo and freight costs by MoverDB, an online resource...
At Facebook, public funds join push to remove Zuckerberg as chairman
Four major U.S. public funds that hold shares in Facebook Inc on Wednesday proposed removing Chief Executive Officer Mark Zuckerberg as chairman following several high-profile scandals and said they hoped...
Oil prices rise amid Saudi tensions, but demand outlook drags
Crude oil futures rose sharply on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand...
Global financial stability risks rising with trade tensions - IMF
Risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further, the...
The next big restaurant chain may not own any kitchens
If investors at some of the biggest technology companies are right, the next big restaurant chain could have no kitchens of its own. These venture capitalists think the same forces...
$8.1b fine: CBN raises MTN’s hope
Central Bank of Nigeria (CBN) may reduce the $8.1billion it ordered MTN Nigeria to repatriate as part of an ongoing disagreement, its governor Godwin Emefiele said yesterday. MTN and CBN...
Oyo holds agric summit Thursday
Funmi Olaitan, Ibadan Oyo State government will on Thursday and Friday October 11 and 12, 2018, hold an agriculture investment summit with the theme: “Transforming Oyo State’s Agriculture and Agro...
3 ways to find the leaders within your company
Anyone from a junior sales rep to your administrative assistant could have latent leadership potential. Here's how to bring it to light. Great companies are full of leaders, and if...
Crude oil hits four-year high ahead of Iran sanctions
Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month. Brent crude oil futures LCOc1 were...
Why countries print money outside their borders
Last week, Liberian government announced it had lost $104m (£79m). This wasn't through any bad investment decision or some accounting fraud, the money - in cash - had literally gone...
CBN to revoke 154 microfinance banks’ licences, 28 others
Central Bank of Nigeria on Wednesday gave a notification to revoke operating licences of 182 financial institutions in the country. According to the list released by the regulator on Wednesday,...
CBN raises red flag, says another recession looming
Monetary Policy Committee of Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat....
Protest as Ghana shuts 400 Nigerian businesses
National Association of Nigerian Traders on Monday stormed Economic Community of West African States’ secretariat located in Abuja to protest alleged closure of shops belonging to Nigerians in Ghana. The...
Abuja metro line begins commercial train services
Abuja Rail Mass Transit on Monday commenced commercial train services on the Airport-Idu-Central Area metro line, Mr Okey Ugwuanyi, the Airport station manager, has said. Ugwuanyi said Federal Capital Territory...
Oil prices rise as markets tighten ahead of Iran sanctions
Oil prices rose on Monday as U.S. markets tightened just weeks ahead of Washington’s plan to impose new sanctions against Iran, with U.S. bank J.P. Morgan warning of price spikes...
Foreign investors withdraw N435.41bn from stock market
Foreign portfolio investors have pulled out billions of naira out of Nigerian stock market in recent months amid bearish sentiments, primarily due to the approaching elections. According to latest data...
3 ways to reduce mistakes and get your business on track for success
No business can run flawlessly all the time, but many common setbacks are avoidable. Successful businesses run on good communication and the accurate transfer of information. In an ideal world,...
Why CBN, NDIC adopted bridge bank option in Skye Bank takeover
Financial sector regulatory authorities decided to adopt the bridge bank option in resolving Skye Bank crisis to protect depositors’ funds and employees in the now defunct bank. Central Bank of...
Lagos leads as Nigeria’s foreign debt hits $22bn
Nigeria’s foreign and domestic debts stood at $22.08bn and N15.63tn, respectively at the end of second quarter of this year, according to figures released by National Bureau of Statistics. Figures...
FG to generate N6bn from concession of 20 Silos
Federal Executive Council (FEC) on Wednesday approved concessioning of 20 out of its 33 Silos to private sector operators at the cost of N6 billion. Minister of Agriculture and Rural...
Trade war escalates as China announces tariffs on US imports
U.S.-China trade war escalated further Tuesday, with China announcing retaliatory tax increases on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals. The increases are in response...
Tax drive: Oyo seals OBJ farms, 15 others
Funmi Olaitan, Ibadan As part of its aggressive tax drive, Oyo State government on Tuesday shut down the business premises of Obasanjo Farms, located in Oluyole Industrial Estate, Ibadan, MRS...
Trump imposes tariffs on $200B more of Chinese goods
The Trump administration will impose tariffs on $200 billion more in Chinese goods starting next week, escalating a trade war between the world’s two biggest economies and potentially raising prices...
CBN to penalise banks, others for failed e-transactions
Any failed Nigerian Instant Payment transaction not reversed into the customer’s account within 24 hours, based on complaint of the sender and/or beneficiary will attract a fine of N10,000, Central...
Nigeria’s inflation rate rises after 18-month decline
National Bureau of Statistics (NBS) on Friday said the nation’s inflation rate rose by 11.23 per cent in August. NBS in its report stated that this is the first year-on-year...
Oil has steepest drop in a month as economic concerns threaten demand
Oil prices fell more than 2 percent on Thursday, with Brent slipping back from four-month highs as investors focused on the risk that emerging market crises and trade disputes could...
US ‘likely’ has taken over as the world’s top oil producer
United States may have reclaimed the title of the world’s biggest oil producer sooner than expected. The U.S. Energy Information Administration said Wednesday that, based on preliminary estimates, America “likely...
FIRS moves against multiple taxes in LGs
As part of its moves to curb multiple taxes, Federal Inland Revenue Service has urged local government autorities to recognise stickers presented to them from other regions in the country....
Bullshit jobs and the yoke of managerial feudalism
Populism, pointless work and panicked youth: an interview with David Graeber of LSE Not since Dilbert has truth been spoken to power in soulless work settings. But the cartoon character’s...
MTN drags CBN, AGF to court over $10bn sanctions
MTN Nigeria says it has asked a Federal High court in Lagos to restrain Central Bank of Nigeria (CBN) and Attorney-General of the Federation from taking further actions in respect...
Oil prices climb as U.S. drilling stalls, Iran sanctions loom
Oil prices rose on Monday as U.S. drilling for new production stalled and as the market eyed tighter conditions once Washington’s sanctions against Iran’s crude exports kick in from November....
After spending 5 years studying millionaires, I've found that there are 3 types of people who end up the wealthiest
To become wealthy, there are a few things you have to do with your money. Thomas C. Corley studied and interviewed 233 wealthy individuals over the course of four years...
As Google turns 20, questions over whether it’s too powerful
Twenty years after Larry Page and Sergey Brin set out to organize all of the internet’s information, the search engine they named Google has morphed into a dominating force in...
FG to sell tax evaders’ properties
Executive Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, said on Thursday that the government would sell properties built and developed in corporate names across the country on which taxes...
Nigeria’s foreign trade declines in Q2, 2018 – NBS
National Bureau of Statistics (NBS) said the country recorded foreign trade valued at N6.57 billion in the second quarter. The bureau disclosed this in its “Foreign Trade in Goods Statistics”...
Trump poised to tax an additional $200B in Chinese imports
The Trump administration may be about to slap tariffs of up to 25 percent on an additional $200 billion in Chinese goods, escalating a confrontation between the world’s two biggest...
More trouble for MTN as FG makes fresh $2bn tax demand
Federal government has slammed South African telecoms giant, MTN Group, with a $2 billion tax demand. The new tax bill incurred by the telecom firm over the last decade comes...
Amazon is 2nd US company to reach $1 trillion market value
Amazon on Tuesday became the second publicly traded company to reach $1 trillion in market value, hot on the heels of iPhone maker Apple. The milestone is another sign of...
