The recent decision by the Central Bank of Nigeria to increase its key interest rate by 200 basis points has significant implications for Africa’s largest economy. This move comes in the wake of a historic currency crisis and soaring inflation rates, prompting policymakers to take action in an attempt to stabilize the economy. Governor Olayemi
In the ongoing proxy battle between Trian Fund Management and Walt Disney, it has been revealed that Trian withheld its votes from CEO Bob Iger. This move, while not entirely surprising given the acrimonious nature of the battle, contradicts Trian’s proxy recommendations. Despite public statements from Nelson Peltz about wanting to work together with management
The Mega Millions jackpot has reached an astounding $1.1 billion, with no ticket matching all six balls in the recent drawing. While this grand prize is slightly less than last year’s record-breaking $1.6 billion, the winner could still face significant financial pitfalls. If you happen to be the lucky winner, you will have two payout
The warning from Democratic lawmakers regarding the potential reduction in Social Security benefits for older adults who are behind on their student loans sheds light on the increasing financial hardships faced by this vulnerable population. The estimated annual reduction of $2,500 in Social Security benefits for borrowers in collections can have a devastating impact on
Recent data shows that the rate at which home prices are growing in the U.S. has slowed down. In February, U.S. home prices increased by 0.6% from the previous month, consistent with the average monthly gain of 0.6% over the past eight years prior to the Covid-19 pandemic. Daryl Fairweather, the chief economist at Redfin,
Recently, news broke that one of the Binance executives who was detained in Nigeria managed to escape custody. This development comes amidst reports that the Nigerian government has lodged fresh tax evasion charges against the global cryptocurrency exchange. The Federal Inland Revenue Service (FIRS) in Nigeria unveiled four new charges related to tax evasion, including
Boeing, the embattled aerospace giant, recently announced a major management shake-up that will see CEO Dave Calhoun stepping down at the end of 2024. Additionally, Chairman of the board Larry Kellner will be resigning and leaving the board at Boeing’s annual meeting in May. This move comes in the midst of increasing pressure from airlines
China is currently facing a critical decision regarding its economic future. According to the International Monetary Fund’s Managing Director Kristalina Georgieva, the country is at a crossroads where it must choose between sticking to its old economic policies or implementing reforms to stimulate growth. With factors such as low productivity growth and an aging population,
The private equity market in Asia Pacific experienced a significant decline in deal value last year, reaching its lowest point since 2014. This downward trend was accompanied by a drop in fundraising to a 10-year low, reflecting the challenges posed by slowing growth, high interest rates, and volatile public markets. According to Bain & Company’s
Donald Trump is currently facing a severe risk as New York’s attorney general, Letitia James, is poised to start collecting a $454 million civil business fraud judgment against him. The former president’s son, Eric Trump, who is also a co-defendant in the case, has accused James of attempting to bankrupt his father with the judgment.