Five fascinating business facts – Part 28

Five fascinating business facts – Part 28

5 and 6 years

The world rose up in rage recently when it emerged that women were being paid so much less than their male counterparts hired to do the same task the BBC . However, a new research published in the academic journal Science involving 400 children, makes interesting read. It is the report of a research by a US team investigating the age at which girls begin to think that they are less intellectually brilliant than boys.

Here’s what they concluded: it happens at the age of six. Before they have lost the first of their milk teeth, little girls have lost confidence in their gender’s intellectual ability.

The US study told two stories to children between the ages of five and seven. One, they explained, was about a “really, really smart” person; the other, a “really, really nice” one. Afterwards, the children were asked which story was about a girl, and which about a boy. At five, the boys were sure the “really, really smart” character was a boy, and the girls were certain it must be a girl. By six, however, the girls had changed their minds. Only 12 months after at six, they became about 20 per cent less likely to say that person could be of their gender.

2,500 jobs

The boyish French President Emmanuel Macron is showing that he too can bite. He has just ordered the nationalization of a shipyard to stop it falling into Italian hands. The government is worried about job cuts at the company, which employs more than 2,500 people, and also security issues. The shipyard is the only one in France with facilities large enough to build aircraft carriers.

14%

Barclays Africa has delivered further evidence that South Africa’s economy is in real trouble and won’t be climbing out of the doldrums anytime soon.Barclays kicked off the earnings reporting season for South Africa’s banks with a decline in total first-half income, the first interim contraction since Maria Ramos took over as chief executive officer in 2009. The stock dropped on Friday, leading declines on the six-member FTSE/JSE Africa Banks Index and extending its losses this year to 14 percent. Income from fees on transactions and commissions and deposits dropped 14 percent, while costs increased faster than revenue.

75 years

On paper, Infosci looks like a lot of startups whose founders travel Sand Hill Road in search of venture capital. It has the dropout, the ex-CIA guy, the experienced startup seller—and they say they have a way to protect against a key type of cyber attack. But when the three arrive for meetings with potential investors, they aren’t wearing hoodies and flip-flops. The youngest of the main founders is 75 years old John Kittelberger, 75 a high school drop out.

Infosci founders have been working on a software design they say would protect against hacks such as the one that breached the U.S. Office of Personnel Management in 2014, exposing the personal information of 22.1 million Americans.

N38,888 or N37,108

For those Nigerians who argue that theirs is a rich nation, perhaps they have not done the sums. The Federal government budget of N7trn is less than 10% of the size of the Nigerian economy. It gets even worse if you are to divide that N7trn among the 180 Nigerians and each of us will get no more than N38,000. Lets go even further. Assume Nigeria produces 2 million barrels of oil daily at $50 a barrel and if you assume that the government will keep only 60% of the proceeds, allowing for the JV partner to get its own share, each Nigerian can get no more than N37,100 a year if equally shared among the 180 million Nigerians.

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