Showing posts with label business. Show all posts
Showing posts with label business. Show all posts

Saturday, November 9

Friday, March 15

100 Relatives of Ethiopian Airline Crash Victims Stage a Walk out on Airline Meeting

March 15, 2019 0 Comments
Chinese, Kenyan  national mourning their relatives
ADDIS ABABA - Around 100 Relatives of some of the 157 victims of Ethiopian Airlines Flight 302 angrily walked out of a meeting with the airline on Thursday, complaining they were not being given information they about what happened to their relatives.

after some relatives of Ethiopian airline crash victims stage a walk out on airline meeting, the airline announced that the air plane's blackbox will be analysed in France.

"I'm so angry," said Yemeni citizen Abdulmajid Shariff, 38, who lost his brother-in-law in Sunday's disaster.

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"They called us to give us a report on bodies and the reasons for the crash but there was no information."


Investigators have found only charred remains of passengers, and no cause has yet been found for the second fatal crash of a Boeing 737 MAX in less than six months.

"We wanted to be told about DNA identification but they told us nothing. They were just offering condolences," said a Kenyan who lost her sister and did not want to give her name. “I'm actually going home today because there is nothing here."

All 149 passengers and eight crew died when the jet crashed six minutes after taking off from the high-altitude capital of Ethiopia. The nation of 105 million people has long been proud of the state-owned airline that is its most successful company.


Nine Ethiopians were killed in the crash, along with 32 Kenyans, 18 Canadians, and eight people each from China and Italy. A total of 35 nationalities were on board.

Thursday, December 27

CBN Settles Dispute With MTN Nigeria for $52.6M Instead of Earlier $8.1bn

December 27, 2018 0 Comments
The Central Bank of Nigeria has agree to settle its dispute with MTN Nigeria for $52.6M against the Earlier amount of $8.1bn.

CBN has agree to reduced the amount it claims MTN improperly repatriated to SA from $8.1bn to $52.6m, which equates to about R764m at Thursday morning's exchange rate of R14.52/$.

“MTN Nigeria and the Central Bank of Nigeria have agreed that they will resolve the matter on the basis that MTN Nigeria will pay the notional reversal amount without admission of liability,” the cellphone network said in a Sens statement on Thursday morning.

When its dispute with Nigeria's central bank was announced in early September, MTN's share price tumbled by over a third from about R110 to R70.
MTN said it had provided documents to Nigerian officials which satisfied them that all but a $1bn preference share placement in 2008 had been done with the required approvals.

The preference share placement, however, required “certificates of capital importation” which had received approval-in-principle, but not final regulatory approval from Nigeria's central bank, MTN said.

To settle this dispute, MTN agreed to reverse the transaction at a net cost of about 19.2-billion naira, or about R764m rand.

“In terms of the resolution agreement, the Central Bank of Nigeria will regularise all the certificates of capital importation issued on the investment by shareholders of MTN Nigeria of circa $402,625,419 without regard to any historical disputes relating to those certificates of capital importation, thereby bringing to a final resolution all incidental disputes arising from this matter,” MTN said.

The statement indicated that commercial banks implicated in the dispute have not been left off the hook yet.

The settlement with Nigeria's central bank has also not ended MTN's tax dispute with the country's attorney general.

“Shareholders are advised that the legal process initiated by MTN Nigeria for injunctive relief restraining the attorney general from taking further action in respect of its orders for back taxes is continuing. The attorney general matter came up for initial mention before the Federal High Court of Nigeria Lagos Judicial Division on November 8, 2018 and has been adjourned to February 7, 2019,” Thursday morning's statement said.

“MTN Nigeria continues to maintain that its tax matters are up to date and no additional payment, as claimed by the attorney general, is due, and consequently no provisions or contingent liabilities are being raised in the accounts of MTN Nigeria for the  attorney general back taxes claim.”

Monday, December 24

'You Get Nothing': Steve Jobs' Ruthless Words to Daughter Before his Death

December 24, 2018 0 Comments
Lisa Brennan-Jobs was just 2 years-old when his father's company went public and overnight Jobs was worth $200 million. When Lisa Jobs was born on a farm in 1978, her father was nowhere to be seen.

Her mother Chrisann had fallen pregnant during an on-again, off-again relationship with the man who had become the famous founder of Apple, Steve Jobs.

But for the first two years of his first child's life, Jobs denied the baby girl was his.
It was a tough start in life for the now 40-year-old, who endured a strained relationship with her father and his second family.
Brennan-Jobs, a writer, has just penned a new book, Small Fry, which details that troubled relationship with the tech genius.

In an excerpt published by Vanity Fair, Brennan-Jobs describes how it took legal action for her father to acknowledge her.
little Lisa and mother Chrisann Brennan. Photo / Supplied

"In the spring of 1978, when my parents were 23, my mother gave birth to me on their friend Robert's farm in Oregon, with the help of two midwives," she wrote

"My father arrived a few days later. 'It's not my kid,' he kept telling everyone at the farm."
Jobs chose his baby daughter's name — Lisa, but for the next two years he contributed nothing else
 "Until I was two, my mother supplemented her welfare payments by cleaning houses and waitressing. My father didn't help," she wrote.

In 1980, Steve Jobs was finally sued for child support payments — something he did not take kindly to.

"My father responded by denying paternity, swearing in a deposition that he was sterile and naming another man he said was my father," Brennan-Jobs wrote.

But the child took a DNA test, which gave a 94.4 per cent chance the two were related — the highest possible at that time.

As a result, Jobs was forced to pay US$385 ($570) a month — which he increased to US$500 ($742) — as well as medical insurance until his daughter turned 18.

Just four days after the case was finalised after having been rushed through by Jobs' lawyers, Apple went public.

Overnight, Jobs was worth $200 million.

By the time Brennan-Jobs was seven, she and her mother had moved 13 times, renting places "informally" and relying on friends to house them.

Her father showed up around once a month, driving a black Porsche convertible while his child and ex-partner struggled to get by.

But despite his coldness, the little girl was fascinated by her "multi-millionaire" dad and clung to the belief he had named the "Lisa" computer after her.

 Later in her childhood, Brennan-Jobs would occasionally stay with her father as her mother took college classes.

During one of those visits, the girl finally found the courage to ask her father if she could have his car once he was finished with it — an innocent question from a child that sparked a vicious reply.

"'Absolutely not', he said in such a sour, biting way that I knew I'd made a mistake," she wrote. 'You're not getting anything', he said. 'You understand? Nothing. You're getting nothing.'

"Did he mean about the car, something else, bigger? I didn't know. His voice hurt — sharp, in my chest. I had made a terrible mistake and he'd recoiled."

Brennan-Jobs offered a partial explanation for her father's continued distance: "I was a blot on a spectacular ascent, as our story did not fit with the narrative of greatness and virtue he might have wanted for himself. My existence ruined his streak," she wrote.
 The coldness from her father and his new family — wife Laurene Powell and their three children, Eve, Reed and Erin Jobs — remained, even as Jobs was dying.

Brennan-Jobs described avoiding her brother, sisters and stepmother around the house during a sickbed visit "so I wouldn't be … hurt when they didn't acknowledge me or reply to my hellos".


Small Fry by Lisa Brennan-Jobs published on September 4, 2018, by Grove Press.

Tuesday, November 27

Brexit deal Could stop US-UK Trade-Donald Trump warns Theresa May

November 27, 2018 0 Comments
Donald Trump has warned Theresa May that her planned Brexit deal could scupper new trade plans between the US and UK. The US president issued the warning to the UK prime minister outside the White House Monday after she spent hours defending it in Parliament. Trump said: ‘I think we have to take a look seriously whether or not the UK is allowed to trade.

‘Because right now if you look at the deal, they may not be able to trade with us. ‘And that wouldn’t be a good thing. I don’t think they meant that.’

He added: ‘I don’t think that the Prime Minister meant that. And, hopefully, she’ll be able to do something about that. ‘But, right now, as the deal stands she may not, they may not, be able to trade with the US. And, I don’t think they want that at all.’ The president did not offer further information on what part of May’s planned deal he was worried about.

He spoke out as the UK prime minister spent two-and-a-half hours defending her draft withdrawal agreement in the Houses of Parliament. The agreement will see the UK retain close economic ties to the European Union, which formally signaled its approval of the deal Sunday. That has angered many Brexiteers who wished for a clean break from the EU, but May insists her agreement will allow the UK to regain control of its borders and slash immigration figures.

Anger over the number of migrants entering Britain was a key reason given by many of those who voted for Brexit in the June 2016 referendum. May will now put the draft agreement to a vote on December 11, with many of her own party stablemates as well as those in opposition warning that they plan to vote against it. Should May’s bill be defeated, she will almost certainly have to resign as prime minister.