Business News

Jonny Thomson As the adage goes, “You don’t have to run faster than the bear to get away. You just have to run faster than the guy next to you.” In the world of economics, this is called the greater fool theory, which posits that it doesn’t matter if an asset is risky, has a massively inflated price, or is worthless. All that matters is that someone else is willing to buy it from you for more than you bought it. Think: Beanie Babies. Fools, everywhere The greater fool theory is usually applied to a market bubble. This is where…
Nigerian stocks crumbled to their lowest level since May 4 on Monday, with the benchmark index dropping almost 2 per cent or N550.6 billion as investors dumped huge volumes of Dangote Cement for sale, forcing the cement-maker to lose as much as one-tenth its value. Depreciation in the shares of FBN Holdings and International Breweries also compounded the plight of the market, which is yet to report a gain in the past ten days. Analysts at brokerage firm and investment bank United Capital are holding an upbeat view for this week regardless and noted in their outlook: “we anticipate return…
Most people feel uncomfortable with conflict. But when that discomfort keeps you from having important healthy discussions with people who disagree, it gets in the way of doing business. As an executive coach who works with founders and executives at startups, I've see the negative effects of this squeamishness. At times it can turn toxic. One company I coached a few years ago had a practice of seeming to agree during the meeting while texting each other on the side to register their displeasure with the decisions and the people who made them. This does not lead to either operational…
Nigeria is withholding $450 million in revenue international carriers operating in the country have earned, an executive at the world's largest airlines association said on Sunday. Africa's largest economy has restricted access to foreign currency for imports and for investors seeking to repatriate their profits as the nation tackles a severe dollar shortage. The International Air Transport Association's Vice President for Africa and the Middle East, Kamal Al Awadhi, described talks with Nigerian officials to release the funds as a "hectic ride". "We keep chipping away and hoping that it clicks that this is going to going to damage the…
As many of us go back to face to face meetings, at least partially, a reminder of how to maximize those meetings is in order. Many of these apply to virtual meetings as well, but their importance is amplified when meeting offline. Here are five tips to get the most out of business meetings. Clarify the context of the meeting before scheduling it As someone wise once said, "Context is everything." In today's day and age with all the noise in our feeds, context is even more important. The one thing no one has enough of is time. Your time…
Ultimatums can mean the end of a relationship, but I remember one that sparked a new beginning--and this isn't a breakup story. After 12 years in business together, I wanted to start a new venture in the Philippines. I was up-front: Working remotely wasn't an option. My co-founder, Stephen, was either coming with me--or we were splitting up. To some, this might seem dramatic. But Stephen and I were accustomed to candid conversations. We went to the same high school, carpooled to college, and cut our teeth as entrepreneurs together--we've been told we fight like brothers. At that moment, it…
Oil rose after falling almost 5% over the prior two sessions as investors weighed the outlook for supply and demand following a big interest-rate hike from the Federal Reserve and rising US crude output. West Texas Intermediate futures climbed toward $117 a barrel in Asian trading on Thursday. The Fed raised interest rates by 75 basis points as the central bank seeks to combat surging inflation. US crude production rose to 12 million barrels a day last week, the first time at that level since early 2020, according to data from the Energy Information Administration. Crude is up more than…
There are a lot of brands out there but it can be difficult to distinguish between the basic vs. brilliant brands. There are two things that help a company stand out -- the product and the reputation. A lot of companies focus on their product, as they should but many don't pay enough attention to their reputation. The reputation of every company is essentially their bumper sticker for which they're known and ideally the reputation is positive versus notorious. Warren Buffet once said, "It takes 20 years to build a reputation and five minutes to ruin it. If you think…
JP Morgan Chase has won a $1.7 billion London High Court battle against Nigeria over its role in a disputed 2011 oilfield deal. The civil case, which was heard earlier this year, relates to the purchase by Shell and Eni of the offshore OPL 245 oilfield in Nigeria. Nigeria had alleged JP Morgan was "grossly negligent" in its decision to transfer funds paid by the energy majors into an escrow account to a company closely associated with the country's former oil minister Dan Etete, as per instructions the bank received from authorised government officials. According to Nigeria, the transactions put…
Federal Airport Authority of Nigeria (FAAN) has revealed that Nigeria lost at least $2.5 billion (about N1.25 trillion) in the maintenance of its aircraft to foreign Maintenance, Repair and Overhaul (MRO) facilities in 2021. Speaking on Tuesday in Abuja at the inaugural National Aviation Conferences (FNAC) organised by FAAN with the theme: ‘Advancing the Frontiers of Possibilities for Safe, Secure and Profitable Air Transport,’ Managing Director of FAAN, Rabiu Yadudu, said that such capital flight would have been saved if the country had MRO facilities that could adequately cater for all types of aircraft. To typically carry out C-check on…
May 13, 2025

NGX records significant growth in Q1 2025 trading activity

The Nigerian Exchange Limited (NGX) reported a remarkable 44.8% surge in equity transactions for Q1…
May 12, 2025

Northern leaders demand urgent action on insecurity, push for state police

Amid worsening insecurity across Nigeria, the 19 Northern governors and traditional rulers have called for…
May 14, 2025

The dark side of ambition - Tomas Chamorro-Premuzic

Ambition is one of the most defining forces in human affairs—a psychological engine that propels…
May 10, 2025

Town residents involutarily get high after Police burn 20 tons of confiscated cannabis

The 25,000 residents of Lice, a town in Turkey’s Diyarbakır province, involuntarily got high after…
May 14, 2025

Boko Haram, ISWAP terrorists attack four military bases in Borno within 24 hours, soldiers killed

Tension is rising in Borno State after Boko Haram and ISWAP insurgents attacked four military…
May 14, 2025

Here’s the latest as Israel-Hamas war enters Day 586

Israeli military intercepts missile launched from Yemen The Israeli military said it intercepted a missile…
May 11, 2025

African diet – plantains and cassava can be as healthy as tomatoes and olive oil,…

Plantains, cassava and fermented banana drink should be added to global healthy eating guidelines alongside…
May 13, 2025

Nigeria's Flying Eagles qualify for World Cup after dramatic win over Senegal

Nigeria's U-20 national football team, the Flying Eagles, have secured their place at the 2025…

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