Month: December 2017

Bitcoin loses $2,000 in one day

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Bitcoin, living up to fears as a bubble currency, slid to as low as $9,000 on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday. The cryptocurrency fell as much as 8 percent on Thursday on the Luxembourg-based Bitstamp exchange to hit $9,000 exactly, marking a fall of well over $2,000 in under 24 hours. It then edged back up to trade at around $9,200 a few minutes later, still down over 6 percent on the day. The fall tempers…

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Rapper DMX faces 5 years in jail over tax evasion

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DMX, the US rapper best known for his taunting song “Party Up (Up in Here),” faces prison time after he pleaded guilty Thursday to evading $1.7 million in tax payments. Prosecutors said the 46-year-old rapper and actor avoided taxes by living virtually only on cash, without maintaining a bank account or filing required returns to the Internal Revenue Service. DMX, whose real name is Earl Simmons, admitted guilt before a federal judge in New York and agreed to pay back taxes, prosecutors said. He will be sentenced on March 29…

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Twitter rolls out data-friendly ‘Lite’ version of its mobile app for Android in 24 countries

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After a successful trial in the Philippines, Twitter is rolling out its data-friendly “Lite” Android version in 24 countries across Asia, Africa, Europe, the Middle East and Latin America. Available in Google Play Store, Twitter “Lite”(under 3MB size) loads quickly on 2G and 3G networks and offers offline support in case users temporarily lose connection. Just like Facebook ‘Lite,’ it offers a data saver mode to download only the images or videos users want to see. “In April, we launched Twitter ‘Lite’, a new mobile web experience that minimises data usage,…

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Konga sacks about 60% of workforce, kills Pay on Delivery

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Nigerian eCommerce giant, Konga has reportedly laid off over 60% of its workforce, in what seems to be a move to drastically reduce operational costs. According to Quartz, “CEO Shola Adekoya informed staff of the cuts yesterday November 30 and said the company will adopt a leaner business model”. There are also speculations that founding ex-CEO Sim Shagaya may be returning to his role, from which stepped down almost 2 years go. While there is no official statement about the massive layoff, Shola Adekoya alluded to an “internal restructuring” in…

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Saraki, Shettima tackles Jonathan, say ex-President was Nigeria’s weakest

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Senate President, Dr. Bukola Saraki, has said former President Goodluck Jonathan, was not ready for the presidency job when fate bestowed on him the leadership of the country. On his part, Borno State Governor, Kashim Shettima, while narrating his ordeal during the last regime, said the ex-president sought to remove him as governor but was advised against it by some of his aides. He said Jonathan and others in his administration actually thought he (Shettima) kidnapped over 200 abducted Chibok girls. Saraki who yesterday in Abuja at the book launch…

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