The U.S. government’s deficit will fall to $492 billion this year, according to the Congressional Budget Office, a steeper drop than originally predicted from $680 billion in fiscal year 2013. The 2014 deficit will be 2.8 percent of the economy, according to CBO, almost 32 percent below fiscal year 2013, when it was 4.1 percent. The deficit will shrink again in fiscal 2015 to $469 billion, before rising to about $1 trillion in fiscal years 2022 to 2024, CBO said.
Updated 5 Years ago

The Pentagon said a Russian fighter jet made multiple close-range passes near an American navy destroyer. The warship was deployed in the Black Sea as Russian military monitored NATO’s systematic build-up of naval forces in the region. The fighter appeared to be unarmed, US military said, calling the move “provocative and unprofessional”. "This provocative and unprofessional Russian action is inconsistent with their national protocols and previous agreements on the professional interaction between our militaries," said Colonel Steve Warren, a Pentagon spokesman.
Updated 5 Years ago

Technology stocks in the U.S. have seen a spike in short-selling since the start of the year, according to financial research firm Markit, which highlighted Tesla as one blue-chip stock that has seen a surge in investors betting against it. Short-selling is an investment tactic where a speculator borrows a financial instrument, such as a stock, and sells it in the hope of buying it back later at a lower price, thereby making a profit. Markit measures this short interest by calculating the amount of shares that are out on loan.
Updated 5 Years ago

One of the most significant phenomena that portrays the rich cultural heritage of the people of Nigeria and indeed Africa in an entertaining style, is Nigeria’s movie industry popularly called Nollywood. From humble beginnings
Updated 5 Years ago

Finance Minister Anton Siluanov said Friday that any oil-for-goods deal between Moscow and Iran would follow United Nations rules on sanctions, not U.S. rules. Siluanov would not say whether a deal had been sealed with Iran. U.S. Treasury Secretary Jack Lew warned Siluanov on Thursday on the sidelines of a International Monetary Fund-World Bank meeting in Washington that any oil-for-goods deal Moscow might strike with Iran could run afoul of U.S. sanctions.
Updated 5 Years ago

After weeks of expectation, rave-making smartphone and latest gadget in Samsung’s premium Galaxy S series, the Galaxy S5, officially goes on sale in Nigeria today, (Friday, April 11), along with the rest of the world.
Updated 5 Years ago

The Senate on Wednesday passed a bill seeking to amend the Companies and Allied Matters Act, 2004.
Updated 5 Years ago

To expand its operations to French speaking West and Central African destinations, one of Nigeria’s major carriers Arik Air, has established a mini hub in Cotonou, the capital of Benin Republic, which is a 15- minute flight from Nigeria’s bustling and economic nerve centre, Lagos.
Updated 5 Years ago

Corporate social responsibility used to be a bolt-on afterthought for many companies. Firms would budget some leftover funding for charity, make some end-of-year donations or schedule volunteer time for their employees and check the corporate social responsibility box. Today, thanks to a 24/7 digital connection between customer and company, empowered consumers are demanding more from the corporate world. Companies are responding in a variety of different ways as they operate in this new landscape where they are expected to be more transparent, communicative and hands-on in trying to make the world a better place.
Updated 5 Years ago

I started my first company when I was 25. I was a reluctant entrepreneur. My sales abilities outgrew three companies, and I couldn't seem to manage the politics necessary to get where I wanted to go at the speed I wanted to get there. So I took a deep breath, opened a company in 1989, and never looked back. But in my journey of building four businesses and making the Inc. 500 list, I often found I saw the world differently then many in my circle. I would struggle with communication and empathy, as would the people around me. My family and my friends would never quite understand why I took action with such passion and drive. Though they would be continuously fascinated how I could make things happen from what seemed like unrelated connections and events.
Updated 5 Years ago