Amazon Staff Laid Off As Tech Giants Cut Costs, According To LinkedIn Posts
Technology giant Amazon has started laying off staff, according to LinkedIn posts by workers who say they have been impacted by job cuts. This week it was reported that the company is planning to cut 10,000 jobs, or around 3% of its office staff. Amazon did not immediately respond to a BBC request for comment. […]
UK Inflation Rises To 41-year High At 11.1%
Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans on Thursday. Consumer prices rose 11.1% in the 12 months through October, compared with 10.1% in September, the Office for National Statistics said […]
Air Peace Suspends Dubai Flights Over Visa Ban
Air Peace announced yesterday that it would pause its Dubai operations indefinitely due to Nigerians’ inability to obtain visas to the country. The airline disclosed in a press release, a copy of which was provided to Newsmen, that its operations will cease on Tuesday, November 22, 2022. The statement reads, “We hereby inform the public, […]
Prosecutors Push 15-year Sentence For Theranos’ CEO Holmes
Federal prosecutors have asked a judge to sentence disgraced Theranos CEO Elizabeth Holmes to 15 years in prison, arguing she deserves a lengthy prison term because her massive scheme duped investors out of hundreds of millions of dollars by falsely convincing them her company had developed a revolutionary blood testing device. Calling the case “one […]
Funds Vanish At Bankrupt Crypto Exchange FTX; Probe Underway
Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets, according to […]
Recession Looms As UK Economy Starts To Shrink
The UK appears to be heading into recession after the latest official figures showed the economy shrank between July and September. The economy contracted by 0.2% during the three months as soaring prices hit businesses and households. A country is in recession when its economy shrinks for two three-month periods in a row. The UK […]
Crypto Crash And Gold Sell-off Show There’s No Place For Investors To Hide
The spectacular implosion of cryptocurrency exchange FTX, a so-called unicorn startup that was recently valued at $32 billion, is just the latest bit of bad news for investors in bitcoin, ethereum and other digital assets. But 2022 was already an awful year for crypto before the FTX-Binance soap opera. Bitcoin prices are currently hovering around $16,500, down from a […]
FCT Minister Orders Reopening Of Dutse Alhaji Market
Minister of the Federal Capital Territory (FCT) Mallam Muhammad Musa Bello, has ordered the reopening of the Olajumoke Akinjide Shopping Arcade, Dutse-Alhaji, four days after the market was shut down for gross violation of the land use act. The senior special assistant to the FCT minister on Monitoring, Inspection, and Enforcement, Comrade Ikharo Attah, who […]
Twitter: Musk Defends Deep Cuts To Company’s Workforce
Twitter’s new owner Elon Musk says he had “no choice” but to slash the company’s workforce as the firm is losing more than $4m (£3.5m) a day. Half of the company’s staff are being let go, a week after Mr Musk bought Twitter in a $44bn (£38.7bn) deal. Twitter staff have been using the platform […]
Biden Warns Of Windfall Tax On ‘war profiteering’ Oil Companies
US President Joe Biden has criticised oil and gas companies for recording big profits after crude prices surged following Russia’s invasion of Ukraine. Biden, speaking ahead of the November 8 mid-term elections, warned that if leading oil companies do not invest some of their profits to lower costs for American consumers, they could face a […]
