Business News

Hiring the wrong person is costly on every front: money, time, energy, and the well-being of your employees. Even if you hire the right people 90% of the time, one in ten new hires being the right people can create a ton of disastrous misalignment--especially at the senior level. Brad Jacobs is a CEO and serial entrepreneur who has founded and led seven billion-dollar companies. In his book, How To Make a Few Billion Dollars, Jacobs explains the characteristics he looks for when hiring into world-class organizations, and what all leaders should look for when building their own teams. "When…
Oil prices rose on Monday after OPEC+ members agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, largely in line with market expectations. Brent futures was 28 cents, or 0.3% higher, at $83.83 a barrel at 0134 GMT, while the U.S. West Texas Intermediate (WTI) rose 20 cents, or 0.3%, to $80.17 a barrel. The output cuts by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are expected to cushion the market amid global economic concerns and rising output outside the group, with Russia's announcement surprising some analysts. Russia…
Sometimes, the ride to school for Ritu Narayan’s children arrived on time. Sometimes it didn’t. Whenever her kids’ transportation plans fell through, the longtime tech product manager at companies like eBay and Oracle had to enter crisis mode and drop everything at work. She thought of her own mother, a former teacher in India who faced the same problem decades ago — and ultimately put her career aside to raise four children. Narayan’s solution: She left her job to create Zum, an AI-backed electric school bus service that launched in 2015. It started as something of a self-funded Uber, chauffeuring…
MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion a year earlier. The losses resulted in a wipe-out of shareholders’ funds. The company attributed the losses to a massive foreign currency loss of N740 billion up from N81 billion reported in 2022. This is the company’s first-ever loss since it became a quoted company in Nigeria. According to MTN, “the loss was significantly due to operational changes to the Nigerian Foreign exchange market, including the abolishment of the segmented/parallel structure announced by CBN in June 2023.” MTN also stated…
Central Bank of Nigeria (CBN) has revoked the licences of 4,173 bureau de change (BDC) operators for failing to observe regulatory provisions. In a statement signed by Sidi Ali, CBN’s acting director, corporate communications, on Friday, the apex bank said the BDCs failed to observe at least one of its regulatory provisions, such as payment of all necessary fees, including licence renewal, within the stipulated period in line with the guidelines. “The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bank and Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the…
In finance, a bubble is too much money chasing assets, greater asset production, and a herd mentality. In new venture plans, a bubble is too many aspiring owners and too many investors chasing the latest "next big thing," like a Google search engine, Facebook social network, or Amazon e-commerce site. In all these cases, a burst is inevitable and everyone may lose. The big question is how to spot these bubbles and jump to a better alternative, rather than get sucked into the vortex. Based on my own experience, and insights by Vikram Mansharamani on the financial side in his…
If you haven’t read Warren Buffett’s annual letter to shareholders, which the Berkshire Hathaway chairman released on Saturday, do yourself a favor. While you’re at it, read a few of the back issues, too. Within them, you’ll find the source material for many of the pearls of investing wisdom you’ve seen floating next to pictures of Buffett’s face on the internet for years. After all, who wouldn’t want to learn all they could from one of the greatest investors of all time? In the meantime, here are a few key lessons for investors from this year’s letter. Ignore market punditry…
Prepare your company to absorb shocks and turn them into opportunities during 2024’s predicted mix of rapid disruption and cautious optimism. As 2024 unfolds, we all know that the only constant is change. Yet, time and again, we see companies that are unable to manage change fail in the marketplace. According to a recent report, “more organizations are failing when it comes to business outcomes during times of change” than ever before. Adding to this challenge is the continuous and rapid acceleration of change in our world. In 2023, we saw major shifts that will affect businesses for decades to…
The relationship between employees and their bosses can truly make or break the work experience. Issues such as job satisfaction, productivity, mental health and teamwork can be almost completely dependent on this dynamic. So, what happens if you truly don’t get along with your boss and you’re beyond unhappy at your job? Two experts weighed in on the issue with insights for handling a rocky work relationship with a manager. Consider if it’s your boss or the company Understand that there's a difference between disliking your boss and disliking the company. "Make that distinction," said Jonathan Alpert, a psychotherapist and…
Today’s society could not function without software. From cell phones and televisions to traffic lights and digital billboards, its uses are endless. As the world becomes more and more digitized, the demand for those creating software that powers everything we do is only increasingly—and fast. In fact, over the next decade, demand for software developers and engineers is expected to grow at a rate of 180%, according to CompTIA’s 2023 State of the Tech Workforce report. Those two titles—software developers and software engineers—are oftentimes used interchangeably, especially for those outside the world of tech. While it is true that they…
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March 05, 2024

Want to hire good employees? Look for 4 positive work traits

Hiring the wrong person is costly on every front: money, time, energy, and the well-being…
February 26, 2024

Afenifere opposes curtailing Yorubas’ right to protest against Tinubu's harsh economic policies

PRESS RELEASE Afenifere has distanced itself from the call by some renegade Afenifere members for…
March 02, 2024

I’ll tell you the secret of cancer - Caitlin Flanagan

It’s been almost 20 years since my diagnosis, and I’ve learned quite a bit. Are…
March 02, 2024

Man tries to hide stolen horse in his third-floor apartment

A 19-year-old man faces three months to five years in prison for stealing a horse…
March 05, 2024

Banks enable 70 percent of financial crimes in Nigeria - EFCC

Economic and Financial Crimes Commission, on Monday, indicted banks as being linked to about 70…
March 05, 2024

Here’s the latest as Israel-Hamas war enters Day 151

UN envoy says 'reasonable grounds' to believe Hamas committed sexual violence on Oct. 7 The…
March 03, 2024

Scientists may have finally solved the mystery of consciousness. Their discoveries are troubling

Throughout history, attempts by mere mortals to plumb the inner recesses of the soul have…
March 02, 2024

Super Eagles coach Peseiro leaves at end of contract

Nigeria's Portuguese coach Jose Peseiro said on Friday he had left the job only weeks…

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