Russia Unveils ‘tasty’ McDonald’s Substitute
It’s a Russian revamp of an American icon. Fast food giant McDonald’s pulled out of Russia in protest at the invasion of Ukraine and sold its restaurants here – more than 800 – to Russian businessman Alexander Govor. Today the first rebranded restaurants are reopening in Moscow. There’s a new name: “Vkusno i Tochka”, which […]
South Africa: Wealthy Gupta Brothers Arrested In UAE
Two brothers from the wealthy Gupta family have been arrested in the United Arab Emirates, the South African government has announced. Atul and Rajesh Gupta are accused in South Africa of profiting from their close links with former president Jacob Zuma and exerting unfair influence. Extradition talks are taking place with the UAE, South African […]
Elon Musk’s Ultimatum To Tesla Execs: Return To The Office Or Get Out
The world’s richest man appears to have had it with this whole working-from-home business. Elon Musk, chief executive officer of Tesla Inc., weighed in on the return-to-office debate Wednesday on Twitter by elaborating on an email he apparently sent to the electric-car maker’s executive staff. Under the subject line “Remote work is no longer acceptable” […]
Russian Oil: EU Agrees Compromise Deal On Banning Imports
EU leaders say they will block most Russian oil imports by the end of 2022 to punish Moscow for invading Ukraine. The EU-wide ban will affect oil that arrives by sea – around two-thirds of imports – but not pipeline oil, following opposition from Hungary. Poland and Germany have also pledged to end pipeline imports, […]
Twitter Investors Sue Elon Musk For ‘Stock Manipulation’ During Takeover Bid
World’s richest man, Elon Musk has been sued by Twitter Inc. investors, claiming he manipulated the company’s stock price downward when he mounted a $44 billion takeover bid for the social media platform. The investors said billionaire Musk saved himself $156 million by failing to disclose that he had purchased more than five per cent […]
20-Year Lifespan Solar Energy Makes Entry Into Nigeria
Infrastructural challenges facing rural communities in Nigeria should ease, as solar energy system with a 20-year lifespan arrives in the country. According to the Managing Director, E-Cube, Ilan Lugassy, the solar energy is to provide an alternative solution to an expensive billion naira electricity grid projects which might not be feasible in the next two […]
Wall Street Suffers More Losses As Investors Worry Inflation Catching Up With Consumers
It was another volatile day on Wall Street as investors worry that high inflation may finally be catching up with consumers. The Dow Jones Industrial Average lost 236 points, one day after plunging more than 1,100 points, while the S&P 500 inched closer to bear market territory — market shorthand for a 20% fall from a recent […]
Elon Musk Puts Twitter Deal On Hold Over Fake Account Details
Elon Musk has said his $44bn (£35bn) deal to buy Twitter is on hold after he queried the number of fake or spam accounts on the social media platform. He said he was waiting for information “supporting [the] calculation that spam/fake accounts do indeed represent less than 5% of users”. Mr Musk has been vocal […]
Aviation Fuel Cheaper In Nigeria Than Other West African Countries, Marketers Say
In a fresh revelation, marketers of petroleum products under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have alleged that the federal government through the Nigerian National Petroleum Company (NNPC) Limited has been subsidising the price of Aviation Turbine Kerosene (ATK) commonly known as aviation fuel, in the past weeks, against the international […]
IMF: 20 Sub-Saharan African Countries In Debt Distress, High Risk Of Debt Distress
The International Monetary Fund (IMF) has warned that debt vulnerabilities remains elevated in Sub-Saharan Africa, with no fewer than 20 countries in the region either at high risk of debt distress or already in debt distress. The Head of the Regional Studies Division in the African Department of IMF, Papa N’Diaye who disclosed this in […]
