“Time for you to leave,” Salomon Brothers’ cigar-chomping chief executive John Gutfreund told Michael Bloomberg. With the $10mn he got as compensation for being fired, Bloomberg started a company, Innovative Market Systems, the next day. It was 1981, and computers were finally starting to take over Wall Street. Bloomberg, then 39, thought the time was […]

read more Bloomberg is contemplating life without its founder

Netflix’s advertising tier has defied its slow start to reach nearly 1 million active users in the US in two months, according to internal data seen by Bloomberg. The user base grew by more than 500 percent in the first month from its launch and another 50 percent in its second month according to the […]

read more Netflix Ad subscribers hit 1 million in two month

Some two weeks after ruling-party candidate Bola Tinubu claimed victory in Nigeria’s presidential elections, controversy is still swirling around the vote, delaying follow-up elections for state governors. But even if President-elect Tinubu takes office in May, as expected, he will quickly face an even bigger problem: restoring economic stability and growth, without which Nigeria’s overlapping […]

read more Tinubu, Nigeria’s president elect has no time to waste, says Bloomberg

Officially, Nigeria’s naira can be said to be doing pretty well this year, down just 4% against a strong US dollar, ahead of the Canadian dollar and the Swiss franc. But that is only a small part of the story. The official exchange rate is used only by the government and the well heeled — […]

read more Naira now among worst in world, says Bloomberg

The International Monetary Fund approved 38-month arrangement with Zambia under the Extended Credit Facility (ECF) around $1.3 billion, or 100 percent of quota to the country has led to the surge of kwacha, the country’s currency. Zambia was given the approval based on the country’s homegrown economic reform plan that aims to restore macroeconomic stability […]

read more Zambia’s currency surges after $1.3 billion IMF deal