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Americas
OpenAI: Leadership Crisis Sparks Mass Exodus Threat as Employees Contemplate Joining Microsoft
Image Credit: TechCrunch
Hundreds of OpenAI employees are considering leaving the artificial intelligence giant to join Microsoft, following the departure of co-founder Sam Altman. Altman, who was ousted from OpenAI, is set to establish an AI subsidiary at Microsoft.
A letter, signed by some...
The Central Bank of Nigeria (CBN) has once again deferred the meeting of its Monetary Policy Committee (MPC), despite the country grappling with a significant surge in inflation. A Bloomberg report on Monday quoted Dr. Isa Abdulmumin, the CBN's Director of Corporate Communications, confirming...
Americas
Microsoft Taps OpenAI Visionaries Altman and Brockman to Pave the Future of AI Amidst Board Turmoil
Image Credit: TechCrunch
Microsoft has appointed former OpenAI co-founders, Sam Altman and Greg Brockman, to head a groundbreaking AI research team, following Altman's dismissal from OpenAI's board. Despite the unexpected decision by OpenAI, Microsoft's CEO Satya Nadella expressed confidence in...
Image Credit: TechCrunch
OpenAI, the influential artificial intelligence research laboratory, announced on Friday that it has removed its co-founder and CEO, Sam Altman, following a review that revealed he was "not consistently candid in his communications" with the board of directors. The...
The Naira experienced a staggering fall, reaching a historic low of N1,105 against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Central Bank of Nigeria's (CBN) approved official market.
The day began with the Naira opening at N830, marking a rapid depreciation...
MultiChoice, a leading media company, has encountered significant financial challenges, reporting an after-tax loss of R911 million ($50.2 million) for the six months spanning April 1 to September 30, 2023. This marks a substantial downturn compared to the R55 million after-tax profit reported...
Nigeria
Economic Strain Deepens as Nigeria's Inflation Skyrockets to 27.33%, Prompting Concerns for Citizens
Nigeria's inflation has surged to 27.33% in October 2023, a notable uptick from the previous month's 26.72%, according to the National Bureau of Statistics (NBS). This marks the tenth consecutive rise in the country's inflation rate this year, posing significant challenges for both consumers and...
Pfizer is set to cut 500 jobs at its Sandwich, Kent site in the U.K. as part of its $3.5 billion cost-cutting plan, a response to lower-than-expected sales of its COVID-19 vaccine and treatment, leading to its first quarterly loss since 2019.
The U.S. drugmaker, with a global workforce of...
Central Bank of Nigeria (CBN) has declared that the old naira notes, initially slated for discontinuation, will now remain legal tender indefinitely. The CBN's decision to extend the legal tender status comes in the wake of concerns over cash scarcity and challenges faced by residents in...
Nigeria
Nationwide Naira Crunch: Banks Enforce Withdrawal Limits, ATMs Grind to a Halt, Igniting Economic Fears
Nigeria is grappling with a deepening crisis of Naira scarcity as major banks enforce limitations on cash withdrawals and ATMs face depletion, causing widespread concern among residents.
The scarcity is particularly impacting Lagos, Abuja, Kano, Katsina, Jigawa, Adamawa, and other regions...
Nigerian Naira showcased a notable recovery, closing at N780.14 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday. This rate reflects a remarkable 21.73% rebound from the previous week's figure of N996.
According to data from FMDQ Securities Exchange, a platform...
KPMG Nigeria's latest economic forecast signals a concerning trend as it predicts the persisting inflationary pressure in the country, with expectations that the headline inflation will soar to approximately 30% by December 2023. This projection follows the ninth consecutive rise in Nigeria's...
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