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March 8, 2023 Elon Musk Apologises To Ex-Employee Following Twitter Spat

Elon Musk Apologises To Ex-Employee Following Twitter Spat

Elon Musk, the CEO of Twitter and the wealthiest person in the world, has apologised to an ex-employee dismissed from the company in a less than courteous manner.

The former staff member, a designer named Haraldur Thorleifsson, who has a physical disability, publicly claimed he was fired without prior notice.

This led to a heated exchange between Thorleifsson and Musk on social media. The latter accused the former of being independently wealthy and not contributing anything of substance to the company.

“(He) claimed as his excuse that he had a disability that prevented him from typing, yet was simultaneously tweeting up a storm. I can’t say I have a lot of respect for that. But was he fired? No, you can’t be fired if you weren’t working in the first place!” Musk tweeted.

Replying to the remarks, a Twitter user, @danielhoughton, who claimed to have worked with Haraldur, defended the creative designer and asked Musk to reconsider his stance.

After further discussion, Haraldur confirmed to his followers that he had been let go from the company. Musk has since regretted how the situation was handled and apologised to Thorleifsson for any distress caused.
 
“Based on your comment, I just did a video call with Halli to figure out what’s real vs what I was told. It’s a long story. Better to talk to people than communicate via tweet.

“I would like to apologise to Halli for misunderstanding his situation. It was based on things I was told that were untrue or, in some cases, true but not meaningful. He is considering remaining at Twitter,” he wrote.

Haraldur is a physically challenged creative designer who runs a non-profit organisation that builds wheelchair ramps in Iceland. He founded a full-service creative agency, Ueno, which Twitter acquired in 2021.

March 7, 2023 Redesign Policy: Naira Gains Against Dollar

Redesign Policy: Naira Gains Against Dollar

On March 6, 2023, at the Investors and Exporters window, the naira appreciated by 0.09%, trading at ₦461.33 per dollar compared to ₦461.75 per dollar at the close of business on March 3.

The open indicative rate for March 6 was ₦461.50 per dollar. The naira hit a high of ₦462.31 per dollar and a low of ₦446 per dollar, while a total of $108.01 million was traded.

On the black market, the naira exhibited a 1.05% increase, trading at an average rate of ₦760/$1 on March 6.

Alternatively, the exchange rate between the naira and the US dollar experienced a slight decline of 0.18% in the cryptocurrency peer-to-peer exchange market. Last Friday morning, the average rate was ₦741/$1, compared to the previous day's rate of ₦739.7/$1.

Effectively implemented, the currency redesign largely caused a fall in the money supply. The central bank said that the redesign would help bring down inflation.

Inflation can affect exchange rates by influencing the supply and demand of a country's currency. When a country experiences high inflation, its goods and services become relatively more expensive than other countries with lower inflation rates. This can reduce the demand for the country's exports, causing a decrease in the demand for its currency.

Additionally, high inflation can erode the purchasing power of a country's currency, making it less attractive to foreign investors. This can lead to a decrease in the demand for the country's currency, which can cause its value to depreciate relative to other currencies.

February 23, 2023 According To A Global Study, Nigerians Overpay For Internet

According To A Global Study, Nigerians Overpay For Internet

The Global Internet Value index (IVi) measures each country's internet speed against its affordability to determine which countries are overpaying for their internet.

Nigeria ranks 109th globally, according to Surfshark's data, with an index of 0.0017, 44 times lower than the global average. This means Nigerians are paying more for their internet than other countries worldwide.

In Sub-Saharan Africa, Nigeria ranks 12th, with an index 56% lower than the regional average. Countries like South Africa and Ghana are ranked 70th and 105th, respectively, overpaying for their internet. Nigeria's index is 90% lower than South Africa's and 26% lower than Ghana's.

"Internet Value index offers to look at internet connection from a practical perspective - whether we get what we pay for. For example, even economically affluent countries with relatively fast internet can overpay compared to others worldwide," says Agnieszka Sablovskaja, Lead Researcher at Surfshark.

However, some countries may have slower internet but also pay a considerably lower price, which is considered fair,

Comparing internet value in Africa, four out of every ten people can access the internet at a fair price. South Africa, Egypt, and Morocco are the top three ranking countries.

Northern Africa performs better than Sub-Saharan Africa, with an average index of 2 times higher. Conversely, Zimbabwe, Uganda, and Cameroon are the lowest-ranking African countries.

In Asia, 4 out of 10 individuals can access the internet at a fair price. Israel, Singapore, and South Korea are the top three ranking countries.

In Europe, 78% of people get their internet at fair prices. Denmark and France are the top-ranking European countries. In North America, 7 out of 10 individuals can access the internet at a fair price, with the United States outperforming Canada. In South America, 59% of people get their internet at a fair price, with Chile as the leader in internet value.

Oceania's internet value index is 2.5 times higher than the global average. Australia ranks fifth globally, and New Zealand ranks 25th.

Source: Business Insider 

February 22, 2023 Bolt Lays Off Some Of Its Nigerian Employees

Bolt Lays Off Some Of Its Nigerian Employees

Bolt has laid off 17 of its 70 employees in Nigeria, despite its recent promise to increase employment opportunities in Africa, as per a report by Techpoint.Africa.

According to the Regional Manager of Bolt for West Africa and North Africa, Ire Obatoki, the layoffs were a result of operational adjustments to foster better performance within the company.

“Bolt had to terminate work contracts with 17 of its employees in Nigeria due to an initiated strategy to improve our operational processes in the country. This was certainly not an easy decision to make, and we completely understand the frustration of the affected employees,” she said.

Affected employees, on the other hand, stated the layoff happened after the corporation promised there would be no layoffs. They were persuaded that management would just restructure, form new teams, and rearrange personnel.

They voiced their disappointment that the meeting, which they mistook for an announcement of new teams, was really to notify them that they were being laid off.

Each employee apparently received a severance package based on the length of time they had worked for the firm. Workers who had been with the firm for a year received one month's severance, those who had been with the company for two years received two months' severance, and those who had been with the company for less than a year received half of their monthly wage.

Bolt noted that it “offered the affected employees an additional three months of health insurance and three months of access to psychological support and a career coach to help them navigate the transition to new employment opportunities.”

The layoffs are also contrary to the promise the company made a few days ago, when they promised to increase their economic footprint on the continent, providing more jobs, and committing to a $530 million investment plan.

Source: Business Insider 

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