Starbucks announced on September 25, 2025, that it will close several stores across North America and lay off 900 non-retail employees in a sweeping restructuring move. The company says many locations fail to meet performance standards or customer expectations. CEO Brian Niccol described the decision as painful but necessary to turn the business around. Why…
Africa hosts some of the world’s most powerful and wealthy women, and the top 5 richest women in Africa wield significant influence across various industries, including oil, banking, telecommunications, real estate, and pharmaceuticals. Their fortunes do not merely reflect inherited wealth; they also show business acumen, strategic investment, and leadership in male-dominated sectors. Below, we…
Philanthropist MacKenzie Scott has donated $70 million to the United Negro College Fund (UNCF) to help strengthen all 37 of its member historically Black colleges and universities (HBCUs). She gave this gift as part of UNCF’s larger $1 billion capital campaign. Dr. Michael L. Lomax, UNCF’s president, said the donation will support a pooled endowment,…
Nigeria delivered 67,657,559 barrels of crude oil to local refineries between January and August 2025, according to the Federal Government. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the figure in Abuja. They emphasized that the delivery aligns with the Petroleum Industry Act 2021 and the Domestic Crude Supply Obligation (DCSO) policy designed to guarantee…
Aliko Dangote recently accused the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) of levying exorbitant charges on fuel trucks that load from his refinery. He stated the union collects as much as ₦50,000 or ₦48,000 per truck at the refinery gate. After adding charges from other intermediaries, the cost per truck can reach…
Starbucks workers in Illinois, Colorado, and California filed lawsuits, claiming the coffee chain violated state labor laws when it changed its dress code without reimbursing employees for the required new clothing. The lawsuits argue that Starbucks mandated solid black shirts, specific bottoms, waterproof footwear in muted tones, and imposed limits on facial piercings and body…
Wall Street extended its rally Monday as U.S. stock indexes reached new record highs. The S&P 500 climbed about 0.5%, surpassing its previous all-time high. The Nasdaq composite added roughly 0.9%, also closing at a fresh peak. Meanwhile, the Dow Jones Industrial Average rose modestly. Investors appear confident as the Federal Reserve prepares to meet…
Apple stock dropped sharply after the company revealed its iPhone 17 series, with the market responding less enthusiastically than many expected. Investors sold shares, citing concerns over modest upgrades and an unclear AI strategy. According to Gulf News, Apple lost more than 112 billion dollars in market value in just two days. The stock slid…
Musk loses richest person for a short moment on September 10, 2025, Oracle co-founder Larry Ellison eclipsed Elon Musk as the world’s richest person. Oracle’s stock rocketed by over 36 percent after a stellar earnings report tied to massive AI and cloud deals. That surge added roughly $100 billion to Ellison’s net worth, putting him…
When it comes to African wealth, Nigeria dominates headlines. The latest listings from Forbes’ richest Nigerians reveal that four business moguls, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola, stand at the pinnacle. Their fortunes reflect booming industries, bold investments, and economic resilience. Here is a closer look at who leads the pack. 1….
