Business News

Wednesday, 29 March 2023 03:24

Elon Musk: What separates great leaders from the pack really comes down to 3 things

OK, let's face it: Since buying Twitter and abruptly laying off half his workforce without notice (some who have since sued Twitter), the brilliant but impulsive Elon Musk has not exactly been the poster boy for inspiring his employees. But let's cut the tech billionaire some slack. Most of us will never face the kind of decisions that come with being the world's second wealthiest person (as of this writing)--while facing such incredible, mostly negative media scrutiny. Call me a Musk sympathizer, but I'm giving him a break because I've seen (and written about) the bright spots that suggest, in…

Tuesday, 28 March 2023 03:57

Of all toxic people, this 1 type is the hardest to handle, says workplace psychology expert

Some of the most difficult toxic people to deal with at work are those who are highly insecure, according to executive coach, author and workplace psychology expert Stefan Falk. "While feeling insecure is natural, problematic behaviors can develop when people consistently attempt to conceal or compensate for their self-doubt," he writes in an article at CNBC.com. What kinds of problematic behaviors? There are several that Falk says he's seen repeatedly in his 30 years as a leadership consultant. To begin with, deeply insecure people tend to obsess over what others think of them and that can make them very hesitant…

Monday, 27 March 2023 03:38

Foreign airlines raise fares further on exchange rates hike

International airfares on Nigerian routes have gone up further by over 20 per cent after foreign airlines raised the exchange rate for ticket sale from N462 per dollar to N551 per dollar. International travellers on Nigerian routes have been paying higher airfares after carriers blocked their inventory of cheaper tickets in order to cushion the effects of the rising amount of trapped funds The latest increase in the naira-dollar exchange rate for ticket sale by the International Air Transport Association, the Switzerland-based trade association of the world’s airlines, is expected to worsen the plight of Nigeria travellers who are already…

Monday, 27 March 2023 03:31

Why you should never bring your laptop to a meeting—and how to meet without them

The laptop is an irresistible invitation to distraction. If you compel your team to change out of their sweatpants, organize child care and dog walks, brave the weather, and suffer a commute just for a day of in-person meetings, you had better make sure those meetings matter. One way to do this is by banning laptops. That might seem counterintuitive. After all, for most of us, our laptop is our primary tool for work. People often need their laptops to do the work of the meeting—retrieve documents, find information, access shared workspaces. And the laptop is likely to be their…

Friday, 24 March 2023 03:13

This is what a job interviewer first notices about you

Despite a job market that looks and feels a bit like a roller coaster, many people are career cushioning and considering changing careers recently. If that's you, you might be thinking about the skills recruiters look for, potential job interview questions and how to ask about the salary. When it comes to salary, benefits, retirement, vacation and other negotiations, there's a long list of things HR people won't tell you. Still, before negotiating your compensation package, you must make a good impression—and that starts when you walk through the door or turn on your Zoom camera for an interview. We…

Thursday, 23 March 2023 02:52

Why you should let technology take care of details while you focus on what computers are notoriously bad at

As an engineer by trade who went on to launch an A.I.-based, e-commerce focused, advertising platform, many assume that I haven't had to strongly rely on the emotional intelligence of other people. That could not be further from the truth. While bad tech can single-handedly sink even the most promising company, great technology will always need the superior instincts of insightful human beings in order to realize its full potential. When it comes to picking winners and losers, smart investors will always gauge the level of emotional intelligence at play behind key hiring decisions, judgment calls on development, methodology driving…

Wednesday, 22 March 2023 03:45

3 habits that’ll instantly point to someone with bad leadership skills

Over the last three years, the workforce has dramatically shifted how bosses engage their employees. Some bad habits of the past just don't – and shouldn't – exist anymore. The importance of emotional currency – what makes people feel supported, valued, developed and appreciated – has become a hot commodity for impacting businesses and satisfying customers. Workplace values like autonomy, flexibility, trust, transparency and ownership – unheard of a few years pre-pandemic – have quickly become the norm, thanks to the rise of recent phenomena as The Great Resignation and Quiet Quitting. 3 things to stop doing If you're a…

Tuesday, 21 March 2023 05:45

Why envy never builds business empires

What emotion can cause the most trouble in your business and your career? Envy. That insight comes from Charlie Munger, billionaire investor and vice chairman at Berkshire Hathaway where he's worked in partnership with Warren Buffett for 45 years. It's an insight Jeff Bezos should have considered before launching the ill-fated search for a second Amazon headquarters, nicknamed "HQ2." Munger, born in 1924, started life during the Great Depression and he remembers the privations of that time, he said during a shareholders meeting of the Daily Journal in Los Angeles, where he is a director. Since then, he said, "with…

Monday, 20 March 2023 03:34

Here's the 1-word change some bosses are making to improve employee happiness

As a business owner, I've sometimes struggled with titles over the years. For example, when I hired my first employee to help out with my daily newsletter, I had no idea what to call her role. Calling her an "assistant" seemed too junior, but I also didn't want to offer a title that she hadn't had a chance to grow into yet. In the end we settled on "deputy editor". It seemed to me that "deputy" crossed the chasm pretty effectively, especially when there was only a single deputy. Titles can be tricky. And now there are signs that some…

Friday, 17 March 2023 03:15

Nigeria is world’s worst debtor to international airlines - Report

Nigeria is withholding $743 million in revenue earned by international carriers operating in the country, the highest amount owed by any nation, a spokesperson for the global airlines industry association said on Thursday. Nigeria faces severe shortages of foreign currency, leading to restrictions on imports and meaning investors cannot convert local currency to repatriate their profits. International Air Transport Association (IATA) spokesperson Katherine Kaczynska said governments around the world owed $2.2 billion to airlines. Nigeria had the highest amount of blocked funds, followed by Algeria and Lebanon, which owed $165 million and $146 million respectively. "Enabling the efficient repatriation of…

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Friday, 17 March 2023 03:12

I was a serial procrastinator. This simple two-step process helped me beat the habit

I couldn't believe I did it again. I was a serial procrastinator. There was just always so much to do, so many priorities. So, while I knew it would take at least three hours to prepare for our next quarterly meeting, I scheduled time to work on it just before the deadline, and also added it to my "to-do" list. "I'm sure I'll find time before then to work on this," I told myself. "This calendar appointment is only a failsafe--just in case." Yeah, right. Of course, I never did the find time to start early, as other tasks demanded…

Thursday, 16 March 2023 03:15

Harvard career expert: The No. 1 'desirable skill' that very few people have—especially men

When young people ask me for career advice, I always tell them: "Don't just focus on your own accomplishments. Be a collaborator." Through a decade of teaching and research at Harvard's business and law schools, I discovered an important and often overlooked insight: People who figured out how to collaborate across teams gained a major competitive edge over those who did not. The advantages of collaboration skills When it comes to hiring, smart collaborators are highly desirable candidates. They deliver higher quality results, get promoted faster, are more noticed by senior management, and have more satisfied clients. But here's what…

Wednesday, 15 March 2023 06:16

Foreign airlines aren’t able to repatriate $743m from ticket sales. Here are the grave implications of that for Nigeria

International Air Transport Association (IATA) says foreign airlines’ revenue blocked from repatriation by the Nigerian government has increased to $743 million from $662m in January 2023. The association disclosed this on Tuesday in a letter seen by TheCable. The letter was addressed to Hadi Sirika, minister of aviation, and signed by Samson Fatokun, the association’s area manager West and Central Africa. The air transport group and the global airline community wrote to the federal government, seeking a special invention for the resolution of airlines’ blocked funds in the country. “For over a year, Nigeria has been the country with the…

Wednesday, 15 March 2023 06:14

FG launches $672m tech fund for young investors

Federal government launched a $672 million fund on Tuesday to support tech and creative sectors for young investors who struggle to raise capital in Africa's largest economy. The fund - targeting 15 to 35-year-olds - comes at a time when there are concerns locally about the failure of U.S. startup-focused lender SVB Financial Group, which has supported startups in Nigeria. So far only Chipper Cash, a cross border payments startup, has said it had $1 million in SVB. Some of the biggest startups, including e-commerce firm Jumia and Africa-focused fintech firm Flutterwave, told Reuters they had no exposure to the…

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