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Talks to sell PayPal to Stripe and Advent are heating up

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PayPal CEO Enrique Lores’ turnaround plan for the fintech company could include a sale — of itself.

The prospect first popped in July when Stripe and private equity giant Advent offered to buy PayPal for $60.50 a share in a deal that would have valued it at $53 billion, the Wall Street Journal reported at the time.

PayPal balked. But apparently, negotiations never stopped and a deal could come together in the coming weeks, according to new reporting by the WSJ, which cited unnamed sources.

PayPal declined to comment on the report. A Stripe spokesperson said the company doesn’t “comment on rumors or speculation.”

The negotiations are taking place as Lores attempts to save the company from its lagging trajectory.

Lores joined PayPal in March, after spending years at HP. In April, Lores made the first moves in his turnaround plan, including an executive shuffle and splitting the business into three operating models: checkout solutions and PayPal, consumer financial services (and Venmo), and payment services and crypto. A month later, Lores told investors that PayPal would recommit to the fundamentals,” which included “becoming a technology company again.”

PayPal’s turnaround will also include a cost-saving plans, which is expected to reduce its workforce by 20% over the next two to three years.

PayPal was founded in 1998 by a number of men who went on to be Silicon Valley luminaries, including Peter Thiel, Elon Musk, Max Levchin, Luke Nosek, and others. The company has struggled in recent years, after ballooning during the pandemic due to an e-commerce boom.

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Resident doctors give FG 14-day ultimatum to meet demands or face industrial action

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Resident doctors have given the federal government a 14-day ultimatum to begin implementing outstanding agreements on their welfare and working conditions or face “further industrial action.”

The ultimatum takes effect from 1 October 2026, according to a communique issued at the end of the Nigerian Association of Resident Doctors’ (NARD) 46th Annual General Meeting (AGM) in Calabar, Cross River State.

According to the document signed by the association’s new President, Ogar Idoko, Secretary-General, Besongngem Akotanchi, and Publicity and Social Secretary, Ashimom Msughter, the meeting was held from 21 to 26 September.

The doctors said the ultimatum became necessary due to ongoing delays in resolving several welfare and professional issues, despite the government’s previous engagements and commitments.

Outstanding allowances, salaries

The resident doctors demanded the immediate payment of 19 months of outstanding Professional Allowance Table (PAT) arrears.

They also demanded payment of outstanding arrears arising from the 25/35 per cent upward review of the Consolidated Medical Salary Structure (CONMESS) for doctors and other affected health workers.

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The association said several medical doctors were still owed salary and promotion arrears in various federal health institutions.

It also demanded the immediate correction of omissions and errors in the payment of the 2026 Medical Residency Training Fund (MRTF). It called for an upward review of the fund to reflect the current cost of residency training.

The doctors said the reviewed MRTF should also be captured in the 2027 Appropriation Act.

Other demands

The resident doctors called for the accelerated conclusion of the long-running Collective Bargaining Agreement between the Nigerian Medical Association and the federal government.

They said the unresolved review of the CONMESS salary structure had remained outstanding for about 17 years and was contributing to the brain drain affecting the health sector.

The association also called for a sustainable recruitment system to address “the critical manpower shortages occasioned by brain drain and guarantee safe and effective healthcare delivery.”

It demanded the implementation of the approved work-hour regulation policy, including functional biometric systems to document working hours and a standardised system for compensating doctors for excess workload.

The doctors also called for the implementation of “the Assault on Health Workers Prevention Policy across all health institutions with clear accountability mechanisms” and the payment of outstanding pension contributions.

The association further demanded urgent improvements in healthcare infrastructure, equipment and essential medical facilities across the country.

It said poor infrastructure and inadequate equipment were affecting patient safety, healthcare delivery and the training of resident doctors.

Threat of industrial action

Under the resolution, the AGM mandates that the NARD National Executive Council (NEC) “closely monitor” the government’s response over the next two weeks.

The association said it would take “all necessary lawful and constitutionally sanctioned actions”, including further industrial action, if the authorities failed to demonstrate meaningful compliance within the stipulated period.

The latest ultimatum follows several rounds of disputes between resident doctors and the federal government this year.

In January, the doctors suspended a planned nationwide strike scheduled to begin on 12 January after the National Industrial Court restrained the association from embarking on the action, and the government made fresh commitments.

READ ALSO: Resident doctors commend Uba Sani for prioritising healthcare workers’ welfare

In April, resident doctors commenced a nationwide strike over the reversal of the Professional Allowance Table and other outstanding financial obligations. The action was suspended less than 24 hours later following government interventions.

In June, the association issued another 21-day ultimatum over unpaid allowances, salary arrears and delays in the residency training fund.

The resident doctors’ latest ultimatum, therefore, gives the federal government until 1 October to “commence demonstrable implementation of the resolutions contained in this communique.”


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Supreme Court judgment: Why Wike’s ally, Chinda no longer qualified to run – Rivers ADC

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The Rivers State chapter of the African Democratic Congress, ADC has explained why it claimed that the All Progressives Congress, APC governorship candidate, Kingsley Ogundu Chinda, is no longer qualified to contest the 2027 election following the recent Supreme Court judgment.

DAILY POST reports that the Supreme Court, in a judgment delivered on September 24, emphasised compliance with Section 77(5) and (6) of the Electoral Act, which requires political parties to submit their verified register of members to the Independent National Electoral Commission, INEC at least 21 days before conducting their primary elections.

The landmark judgment has sparked a legal debate over the implications of the decision for several candidates vying for the different offices.

Reacting, the Publicity Secretary of the ADC in Rivers State, Chizi Enyi, said the Supreme Court’s verdict has nullified the candidacy of Chinda.

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He alleged in a video posted on X that only 19 days elapsed between Chinda’s registration with the party and the submission of its register to INEC.

He said, “on OK Chinda where people are asking whether he is qualified or not, the mandatory notice of which a political party can field candidate is that you must submit your membership register to the INEC at least 21 days before the primary election.

“APC conducted its primary election for national assembly aspirants on May 16 and Chinda joined APC on April 27. Counting from April 27 to May 16, you have 19 days, which is less than the mandatory 21 days’ notice.

“This means that all the House of Representatives candidates of APC may not be qualified to run in the election if APC submitted its register after Chinda joined.

“Before Chinda joined, there was a report on April 24 that APC beat the deadline before INEC extended it to May 10. This means that Chinda joined the party after the register has been submitted to INEC.

“My dear Nigerians, it is an obvious fact that Chinda is not qualified to run in the election. Or is APC telling us that they submitted multiple registers to the INEC”?

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