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Facebook parent posts first revenue decline as a public company

Herconomy
Jul 28, 2022
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Tech Updates

Facebook parent posts first revenue decline as a public company

Meta (FB), Facebook's parent company, reported revenue of $28.8 billion for the three months ending in June, a 1% drop from the prior-year quarter and its first year-over-year revenue decline since going public in 2012. Read more…

Local Stories

CAN’s opposition to Muslim-Muslim ticket godly, says Dogara

A former Speaker of the House of Representatives, Yakubu Dogara, on Wednesday said the Christian Association of Nigeria’s opposition to the All Progressives Congress’ Muslim-Muslim presidential ticket was godly. Read more…

N109bn fraud: Court grants suspended AGF bail

An Abuja High Court sitting at Maitama, on Thursday, granted bail to the former Accountant-General of the Federation, Ahmed Idris. Read more…

Aregbesola’s finance commissioner dumps APC for PDP

Dr Wale Bolorunduro, who served as Osun State Commissioner for Finance during the first term of ex-governor Rauf Aregbesola, on Wednesday, announced his defection to the Peoples Democratic Party. Read more…

Fear spreads, Presidency, senators clash over impeachment threat

Senators on Wednesday threatened to impeach the President, Major General Muhammadu Buhari (retd.), over the worsening insecurity in the Federal Capital Territory, Abuja, and the country at large. Read more…

Accused UNIUYO Prof’s medical report fake – INEC

The Independent National Electoral Commission Wednesday told an Akwa Ibom State High Court that the medical report tendered by the defence counsel for Prof. Ignatius Uduk, indicating that he was diagnosed with Benign Prostatic Hyperplasia, was fake. Read more…

International Stories

Taiwan holds massive Han Kuang military drills as tensions with China build

In simulated scenes, a hostile enemy attempts to seize control of a key waterway close to the Taiwanese capital. Attacking from sea and air, the invading forces target the mouth of the Tamsui River on the island's northern coast -- a strategic estuary that provides direct access to the centre of Taipei. Read more…

Asia's richest woman lost more than half her fortune in China's property crunch

Yang Huiyan, Asia's wealthiest woman, has seen her wealth fall to $11 billion from nearly $24 billion this year as China's property crisis escalates, according to the Bloomberg Billionaires Index. Read more…

Biden set for the call with China's Xi with a pile-up of issues creating a tense moment

When President Joe Biden first spoke to his Chinese counterpart upon taking office last year, he hoped it would set a pattern of regular engagement that might stabilize the world's most important country-to-country relationship. Read more…

Kim Jong-un says North Korea ready to mobilise nuclear forces

North Korea is ready to mobilise its nuclear war deterrent, its leader Kim Jong-un has claimed. Read more…

Business Matters

Naira falls 34% to N710, Senate summons Emefiele

Naira has weakened by 34 per cent in 10 months, closing at N710 to a dollar on Wednesday in the parallel market, with a margin of N280 from the official rate. Read more…

NAF takes over proposed MKO Abiola Airport

The Nigerian Air Force on Wednesday disclosed plans to establish an aviation city in Osun State while it formally took possession of the MKO Abiola Airport, Ido-Osun, Osun State. Read more…

Stakeholders seek increased tax revenue generation through tech

Stakeholders at the Chartered Institute of Taxation of Nigeria have said the adoption of a presumptive tax regime and ICT will help to boost revenue generation from the informal sector. Read more…

Subsidy probe: Reps say 23 oil firms unknown

The House of Representatives Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2021 has said it does not know the profile of 23 oil and gas companies trading in Nigeria. Read more…

Metro

Lagos, Sterling Bank partner to relaunch LAG ID

Sterling Bank Plc has collaborated with the Lagos State Residents Registration Agency as the partner for the first three million issuances of the newly upgraded Lagos State Resident Identity Card, which was recently launched and unveiled by the Lagos State Governor, Mr Babajide Sanwo-Olu. Read more…

Quote of the Day

“When someone tells me ‘no,’ it doesn’t mean I can’t do it, it simply means I can’t do it with them.” —Karen E. Quinones Miller

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