DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 4091

Moody’s Lowers Outlook on U.S. Debt to “Negative” Amid Rising Economic Concerns

By
Samuel Nwite
-
0

In a move that underscores growing concerns about the global economic and political landscape, Moody’s Investors Service announced on Friday that it has downgraded its outlook on the U.S. government’s debt from “stable” to “negative.”

This decision was attributed to the combination of escalating interest rates and heightened political polarization within Congress.

While Moody’s retained its top triple-A credit rating on U.S. government debt, it is the last of the three major credit rating agencies to do so. Fitch Ratings had previously lowered its rating to AA+ from AAA in August, and Standard & Poor’s downgraded the U.S. in 2011. The shift to a negative outlook, however, raises the risk that Moody’s could eventually strip its triple-A rating from the U.S.

The implications of a lower credit rating are substantial. A reduced rating could lead to increased interest rates on Treasury bills and notes, potentially impacting taxpayers. The yield on the 10-year Treasury has surged from about 3.9% to 4.6% since July, a sharp increase that some market analysts attribute in part to the August Fitch downgrade.

“In the context of higher interest rates, without effective fiscal policy measures to reduce government spending or increase revenues, Moody’s expects that the U.S.’s fiscal deficits will remain very large, significantly weakening debt affordability,” Moody’s stated in a release.

The Biden administration pushed back against Moody’s decision, pointing at the strength of the American economy.

“While the statement by Moody’s maintains the United States’ Aaa rating, we disagree with the shift to a negative outlook,” Deputy Treasury Secretary Wally Adeyemo said. “The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset.”

However, Moody’s cited concerns about congressional dysfunction as one of the reasons for the downgrade in outlook. As lawmakers left Washington for the weekend, there was no clear plan to avoid a potential government shutdown by Nov. 17.

Moody’s highlighted recent events, including debt limit brinkmanship and political turmoil, as indicators of the deepening political divisions in the U.S.

“Recently, multiple events have illustrated the depth of political divisions in the U.S.: Renewed debt limit brinkmanship, the first ouster of a House Speaker in U.S. history, prolonged inability of Congress to select a new House Speaker, and increased threats of another partial government shutdown,” Moody’s said.

The federal government’s budget deficit surged to $1.7 trillion in the budget year that ended on Sept. 30, up from $1.38 trillion the previous year. Analysts warn that with interest rates on the rise, interest costs on the national debt could consume a growing share of tax revenue.

Even though the move by Moody’s does not automatically downgrade America’s creditworthiness, it heightens the possibility. The prospect of a U.S. downgrade could have ripple effects, potentially impacting Americans’ investment portfolios, making borrowing more expensive, and increasing the cost for the government to service its debts.

Working in America Where Subordinates Can Earn More Than Supervisors

By
Ndubuisi Ekekwe
-
1

At Tekedia Institute, my lectures have been focusing on Personal Economy and Global Workplaces.  Let’s discuss compensation and how it varies across economies and markets,

Compensation is a mirage in America because it could be convoluted. Yes, you can be a supervisor, big boss, and “Oga”, and the person reporting to you is making more money than you! Unlike in Corporate Nigeria where titles/levels correlate with earning, in America, anything is possible!

In the semiconductor industry, they can hire you as a new PhD graduate, and your role is to “supervise” design legends, with some logging decades of experience.  You “manage” them, “review” them and set  deadlines for them, but do not be deceived, you are an “ofeke boss”. Some earn 3x whatever you make. And if one is a Technical Fellow, you could be “managing” someone who earns 8x your take-home.

How does that happen? America pays for value added, not titles, they say. The design legend you “manage” delivers more value than you the manager. It is like an Athletic Director in a university who hires a coach and can fire a coach, but the coach can make 10x what that Director takes home! Of course, in Southern America, the highest paid people in universities are not the presidents (i.e. vice chancellors) but football coaches (Alabama’s coaching legend Nick Saban takes home $11.41M yearly, the athletic director, his boss, may be taking home around $1M).

As we evaluate workplaces, Nigeria makes them simpler: in a bank, once you move a level, you earn what everyone at that level is earning. In the US, there is nothing like that. Both could be doing the same thing but the other colleague is going home at 2x your rate. 

Here is my message: put efforts as you negotiate those range-based compensations of  $25 – $120 per hour, knowing that someone could be paid $120 per hour when you are offered $30 per hour.

Comment on Feed

Comment 1: I once had a former colleague who had issues with this because he was earning lower than a subordinate.??. It’s actually painful if you are the one affected, but funny if you are not.

Although some Nigeria HRMs intentionally do this because of favouritism and not because of value added.

My Response: In Nigeria, you manage that by asking to be put in the right level. In the US, you can be in that level but still be paid lower. Levels typically correlate with pay scale in Nigeria; in the US, not.

How To Build A Professional Webinality | Tekedia Mini-MBA

By
Ndubuisi Ekekwe
-
0

Join us today at Tekedia Mini-MBA as we examine how to build professional webinality (web+personality). Yes, in this social media age, to ascend professionally, you need to find a creative way for people to know what you think you know. If you know it and keep it to yourself, you stall. But if you make it possible for others to know, wings will emerge to carry you up, because the zenith of all careers happens when people could recommend you in your absence.

Good People, you must build your professional webinality!

Tekedia Mini-MBA is an innovation management 12-week program, optimized for business execution and growth, with digital operational overlay. It runs 100% online. The theme is Innovation, Growth & Digital Execution – Techniques for Building Category-King Companies. All contents are self-paced, recorded and archived which means participants do not have to be at any scheduled time to consume contents.

Besides, programs are designed for ALL sectors, from fintech to construction, healthcare to manufacturing, agriculture to real estate, etc. And we have 3 LIVE Zoom sessions weekly, anchored by business executives you admre. It is the #best school.

Go here and register for the next edition. We’re rated 5 stars, Excellent and Amazing. Cost is N90,000 or $170 for the 12-week program.

Unlocking Potential: Advocating for a Robust Talent Management Infrastructure in Nigerian Universities

By
Rasheed Adebiyi
-
0

There is no gainsaying the fact that Nigerian universities hold a substantial number of the youths across the country. Statistics reveal that as at 2021, not less than 2.1 million students were spread across the 264 campuses of the Federal, State and Private universities in the country.  This number was for undergraduate students as not less than 234,000 were on post graduate studies in the universities.

What this implies is that Nigerian universities are holding close to 2.5 million young and vibrant talents in the country. It is also an indication that the ivory towers are also responsible for a substantial number of the 60% young, energetic talents of working age. Yet, unemployment rate among graduate keeps rising with many of these young people finishing first degrees with no jobs in sight.

For a student to have graduated with a first degree, they must have had not less than 16 years of continuous education from primary to tertiary level. So, the question to ask is whether the talent management framework for the universities is effective enough?

As one of the youngest populations in the world, effective talent management is urgently calling for recalibration in the country as there is an urgent need to manage and nurture the abundant talents spread within the four walls of the Nigerian ivory towers. This is vital for sustained development and innovation. For Nigerian universities, an impactful talent management represents a critical facet that warrants keen attention and strategic nurturing.

 

Recognizing Untapped Potential

Nigerian universities are treasure troves of diverse talents, ranging from academic brilliance to artistic prowess, technological innovation, and entrepreneurial acumen. However, while these institutions serve as hubs for knowledge dissemination, there exists an untapped reservoir of potential talent awaiting identification, honing, and harnessing

The landscape of talent management in Nigerian universities is marked by both challenges and opportunities. One significant hurdle is the need for structured frameworks that actively identify and cultivate talents beyond traditional academic pursuits. This entails acknowledging various forms of talent, from scientific innovation to artistic expression and entrepreneurial initiatives. The structure of the current Students’ Affairs Divisions in Nigerian universities need to be fine-tuned for talent management. As it is, a lot of universities can not account for numerous talents that are on their campuses.

Moreover, the demand for cross-disciplinary collaboration presents an opportunity for universities to pivot toward fostering environments that encourage inter-departmental and cross-faculty exchanges. This collaboration not only nurtures talent but also cultivates a diverse skill set that aligns with real-world needs.

Holistic Approach to Talent Management

Talent management within Nigerian universities necessitates a holistic approach that encompasses several key pillars which include the following:

Identification and Encouragement

This requires creating systems that actively identify and encourage diverse talents, nurturing a culture where students and faculty are empowered to explore and showcase their skills. A reward system should also be put in place to encourage the talents. Healthy competitions should as well be instituted to facilitate innovative thinking and problem solving skills.

Flexible Curricula and Program Offerings

Embracing curriculum flexibility that allows students to explore interdisciplinary studies, affording them the freedom to discover and develop their strengths across various fields. The recently introduced CCMAS by the National Universities Commission is a good platform to change the current model for a more empowering

Mentorship and Guidance

Instituting robust mentorship programs that pair students with professionals in their fields, fostering a learning environment that extends beyond the confines of classrooms. Introducing the Professor of Practice model can make this a reality. A number of universities could tap into their alumni network to make this work.

Entrepreneurial Support

Providing resources and guidance for budding entrepreneurs, encouraging the development of innovative ideas and the transformation of these concepts into viable ventures. Building an innovation hub for ideation, development and acceleration would go a long way to assist universities mold the diverse talents on their campuses for productivity and prosperity.

Industry Collaboration

Forging partnerships with industries to bridge the gap between academia and the professional world, offering students practical exposure and experience can as well serve as a means of grooming the abundant talents in the universities.

 

Cultivating a Culture of Innovation

The heart of effective talent management in Nigerian universities lies in cultivating a culture of innovation. Encouraging risk-taking, problem-solving, and creative thinking empowers individuals to explore their potential to the fullest.

The Future of Talent Management in Nigerian Universities

Talent management in Nigerian universities should not solely be about recognizing academic achievements; it should be about recognizing and harnessing potential in all its forms. As these institutions evolve, fostering an environment that identifies, nurtures, and celebrates talent will be integral to academic excellence and the development of a generation equipped to meet real-world challenges.

Nigerian universities have an incredible opportunity to lead the charge in talent management, becoming catalysts for innovation, creativity, and holistic skill development. As they traverse this path, the collective effort toward a more robust talent management infrastructure will pave the way for a brighter, more innovative future for both students and the nation at large.

Bitcoin Ordinals Sees Huge Daily Volume, Ben Armstrong Sues ex-Colleagues, Bitcoin Cementing Status as Store of Value

By
Paul Ugbede Godwin
-
0

Bitcoin Ordinals, the decentralized exchange protocol that allows users to trade any ERC-20 token pair, saw its largest daily volume since May on November 8, 2023. According to data from Dune Analytics, Bitcoin Ordinals facilitated over $1.2 billion worth of trades in 24 hours, surpassing its previous record of $1.1 billion on May 3, 2023.

The surge in volume was largely driven by the increased activity in the BRC-20 token sector, which is a subset of ERC-20 tokens that are backed by real-world assets such as gold, silver, or fiat currencies. BRC-20 tokens aim to provide more stability and liquidity to the crypto market, as well as enable cross-chain interoperability with other blockchains.

One of the most popular BRC-20 tokens is BRCUSD, which is pegged to the US dollar and can be used as a medium of exchange or a store of value. BRCUSD accounted for over 40% of the total volume on Bitcoin Ordinals on November 8, 2023, followed by BRCGBP (pegged to the British pound) and BRCEUR (pegged to the euro).

The demand for BRC-20 tokens has been growing steadily in the past few months, as more investors and traders seek to hedge against the volatility and inflation of fiat currencies. Moreover, BRC-20 tokens offer a lower gas fee and faster transaction speed than traditional ERC-20 tokens, making them more attractive for high-frequency trading.

Bitcoin Ordinals is one of the leading platforms for trading BRC-20 tokens, as it offers a high level of security, transparency, and efficiency. Bitcoin Ordinals does not require users to create an account or deposit their funds in a centralized entity. Instead, users can connect their wallets directly to the protocol and execute trades in a peer-to-peer manner, without intermediaries or custodians.

Bitcoin Ordinals also leverages a novel mechanism called Automated Market Makers (AMMs), which use smart contracts to create liquidity pools for each token pair. Users can provide liquidity to these pools and earn fees from each trade, or they can swap tokens at the best available price determined by the pool’s ratio. This eliminates the need for order books or price discovery and ensures that there is always enough liquidity for any trade.

Bitcoin Ordinals is constantly innovating and improving its protocol, adding new features and functionalities to enhance the user experience and cater to the evolving needs of the crypto market. Some of the recent developments include:

Launching Bitcoin Ordinals V3, which introduces concentrated liquidity and multiple fee tiers, allowing liquidity providers to customize their exposure and returns. Integrating with Optimism, a layer-2 scaling solution that reduces gas costs and latency for Bitcoin Ordinals transactions.

Supporting Arbitrum One, another layer-2 scaling solution that offers high throughput and compatibility with Ethereum. Expanding its ecosystem of partners and integrations, such as Coinbase Wallet, MetaMask, CoinGecko, CoinMarketCap, Etherscan, and more.

Bitcoin Ordinals is one of the most innovative and influential projects in the DeFi space, and its impressive performance on November 8, 2023, demonstrates its potential to revolutionize the crypto industry. With its cutting-edge technology, user-friendly interface, and vibrant community, Bitcoin Ordinals is poised to become the leading platform for trading any token on Ethereum and beyond.

Ben Armstrong sues former colleagues alleging they conspired to steal his Lamborghini.

In a shocking turn of events, crypto youtuber and influencer Ben Armstrong, better known as BitBoy Crypto, has filed a lawsuit against his former colleagues, accusing them of conspiring to steal his Lamborghini Huracan.

According to the complaint, Armstrong claims that he hired four individuals in 2019 to work for his company, BitBoy Crypto LLC, which produces content on various platforms about cryptocurrencies and blockchain technology. He alleges that these four employees, who are named as defendants in the lawsuit, breached their contracts and fiduciary duties by secretly forming a competing company, Crypto Face LLC, and using BitBoy Crypto’s resources, contacts, and trade secrets to promote their own interests.

Armstrong further alleges that the defendants plotted to steal his Lamborghini, which he had purchased in 2020 using the profits from his crypto investments. He says that he entrusted the defendants with the keys and access codes to his garage, where he stored the vehicle, and that they took advantage of his trust and stole the car in July 2021. He claims that he reported the theft to the police, but the defendants have refused to return the car or cooperate with the investigation.

The lawsuit seeks damages for breach of contract, breach of fiduciary duty, conversion, civil conspiracy, unjust enrichment, and fraud. Armstrong also requests an injunction to prevent the defendants from using or disposing of the Lamborghini, and from continuing to operate Crypto Face LLC.

Armstrong is one of the most popular and influential crypto youtubers, with over 1.3 million subscribers on his channel. He is known for his bullish views on Bitcoin and other cryptocurrencies, as well as for his collaborations with other prominent figures in the crypto space. He has not commented publicly on the lawsuit yet, but his fans have expressed their support and outrage on social media.

Bitcoin Cementing Status as Store of Value

In a recent blog post, Fidelity Digital Assets, a subsidiary of Fidelity Investments, one of the world’s largest asset managers, argued that Bitcoin is becoming a more accepted and reliable store of value in the eyes of investors and institutions. The post highlighted several factors that contribute to Bitcoin’s growing appeal as a store of value, such as its scarcity, durability, portability, fungibility, verifiability, and divisibility.

According to Fidelity Digital Assets, Bitcoin has a unique advantage over other forms of money and assets, as it is not subject to the same risks of inflation, devaluation, confiscation, or censorship that plague fiat currencies and traditional assets. Bitcoin is also independent of any central authority or intermediary, and its network is secured by a decentralized consensus mechanism that ensures its integrity and immutability.

The post also cited several examples of how Bitcoin is being adopted and recognized by various entities and individuals as a legitimate and valuable asset class. For instance, the post mentioned that MicroStrategy, a publicly traded software company, has invested over $1 billion in Bitcoin as its primary treasury reserve asset, and that Square, a leading payment platform, has allocated $50 million of its balance sheet to Bitcoin as well.

Moreover, the post noted that PayPal, one of the largest online payment providers, has enabled its users to buy, sell, and hold Bitcoin and other cryptocurrencies on its platform.

Bitcoin is more than just a digital currency. It is a revolutionary technology that has the potential to transform the global financial system and create a new paradigm of trust and value. Bitcoin is not controlled by any central authority, but by a decentralized network of nodes that verify and record transactions on a public ledger called the blockchain. This ledger is immutable, transparent and censorship-resistant, making Bitcoin a secure and reliable way of storing and transferring wealth.

One of the key features of Bitcoin is its limited supply of 21 million coins, which ensures that it is not subject to inflation or devaluation by governments or central banks. Unlike fiat currencies, which can be printed at will, Bitcoin has a predictable and transparent issuance schedule that reduces over time until the last coin is mined around the year 2140. This makes Bitcoin a scarce and valuable asset that can serve as a hedge against economic uncertainty and currency debasement.

Bitcoin is in the process of cementing its status as a store of value, as more and more investors, institutions and corporations recognize its unique properties and advantages over traditional assets. Bitcoin has outperformed every other asset class in the past decade, delivering an annualized return of over 200%. Bitcoin has also shown remarkable resilience and strength during periods of market turmoil, such as the Covid-19 pandemic, when it recovered faster and higher than any other asset.

Bitcoin is not only a store of value, but also a medium of exchange and a unit of account. Bitcoin can be used to buy goods and services online and offline, across borders and without intermediaries. Bitcoin can also be used to measure the value of other assets, such as stocks, commodities or real estate.

Bitcoin is becoming more accessible and convenient to use, as the technology improves, and the infrastructure grows. There are now over 13,000 Bitcoin ATMs worldwide, over 100,000 merchants that accept Bitcoin, and over 300 million users that hold Bitcoin.

Bitcoin is not a bubble or a fad. It is a paradigm shift that is changing the world for the better. Bitcoin is empowering people with financial freedom, sovereignty and inclusion. Bitcoin is enabling innovation, entrepreneurship and social impact. Bitcoin is the future of money.

Fidelity Digital Assets concluded that Bitcoin is in the process of cementing its status as a store of value, as more investors and institutions recognize its potential and utility in the digital age.

The post stated that “Bitcoin is unique among assets in that it features an asymmetric upside with a known and fixed supply schedule and demand dynamics that are still early stage. As such, we believe Bitcoin represents an attractive alternative for investors looking for a scarce and uncorrelated asset with optionality for future growth.”

1...4,0904,0914,092...8,672Page 4,091 of 8,672

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy