Jack Ma To Give Up Control Of Fintech Giant Ant Group
The billionaire founder of Ant Group, Jack Ma, is to give up control of the Chinese fintech giant after a regulatory crackdown. Ant Group said that after the change no-one would have overall control. The formerly flamboyant Mr Ma has seldom been seen in public since criticising China’s financial sector in 2020. Following that criticism, […]
Amazon To Axe 18,000 Jobs As It Cuts Costs
Amazon plans to cut more than 18,000 jobs, the largest number in the firm’s history, as it battles to save costs. The online giant which employs 1.5 million people globally, did not say which countries the job cuts would hit, but said they would include Europe. Most of the job losses will come from its […]
Twitter Sued Over $136,260 In Unpaid Rent After Elon Musk Takeover
Elon Musk is trying to slash expenses at Twitter as close to zero as possible while his personal wealth shrinks – and this apparently has included falling behind on rent payments at the company’s offices. Twitter owes $136,260 (£113,601) in overdue rent on its offices on the 30th floor of a building in downtown San Francisco, […]
Energy Giant ExxonMobil Sues EU To Block Energy Windfall Tax
US energy giant ExxonMobil is suing the EU in a bid to force the bloc to scrap its new windfall tax on oil firms. A windfall tax is imposed on firms that benefitted from something they were not responsible for. Energy firms are getting much more money for their oil and gas, partly due to […]
Shell To Pay $15.9 Million Settlement To Nigerian Communities Impacted By Oil Spills
Shell has agreed to pay $15.9 million in compensation to communities in Nigeria impacted by four oil spills that occurred from its pipelines in the Niger Delta between 2004 and 2007. “Under the settlement, the Shell Petroleum Development Company of Nigeria (SDC) as operator of the SPDC joint venture will pay an amount of $15.9 million for […]
FTX founder Sam Bankman-Fried Signs Extradition Papers, Will Return To US For Charges
FTX founder Sam Bankman-Fried has now signed extradition papers in the Bahamas, where he lived in a multimillion-dollar mansion, after waffling on the decision since his initial court appearance last week. The disgraced former CEO signed the papers to waive an extradition hearing from the Bahamas and will now be flown to the United States to face prosecution […]
Senate Passes Business Facilitation Bill Into Law
The Business Facilitation (Miscellaneous Provision) Bill 2022, also known as the Omnibus Bill, has been enacted by the Senate, following its earlier passage by the House of Representatives. A statement signed by the special adviser to the President, Ease of Doing Business/PEBEC Secretary, Dr. Jumoke Oduwole, the Bill, which will now be transmitted shortly to […]
Elon Musk To Quit As Twitter CEO When Replacement Found
Elon Musk has said he will resign as Twitter’s chief executive officer when he finds someone “foolish enough to take the job”. The billionaire had promised to abide by the result of a Twitter poll which saw 57.5% of users vote “yes” to him quitting the role. He says he will still run the software […]
Elon Musk: Twitter Users Vote In Favour Of Boss Resigning
Twitter users have voted in favour of Elon Musk stepping down as the platform’s chief executive after the billionaire ran a poll on his future. A total of 57.5% voted “yes” after Mr Musk asked his 122 million followers whether he should stand down. Mr Musk, who bought Twitter for $44bn (£36bn), said before the […]
Nigeria’s CPI Hits 21.47% As Food Prices Increases
The Consumer Price Index (CPI), which measures the rate of change in the prices of goods and commodities, increased by 21.47 percent year on year in November, according to the National Bureau of Statistics. This compares to 15.40% in the same month in 2021. The NBS explained in a statement on Thursday that the 6.07 […]
