(Brands & Consumers)
Elon Musk is once again at odds with the U.S. Securities and Exchange Commission (SEC), revealing that the agency has demanded he pay a fine related to his 2022 purchase of Twitter shares – or face multiple charges. Musk, who disclosed the situation on his social platform X, posted a letter from his attorney Alex…
Bud Light’s decades-long reign as the top beer on tap in U.S. bars has officially come to an end, as Michelob Ultra has now taken the top spot. According to data from Draftlines Technologies, which tracks over 1 million draft lines across the country, Michelob Ultra surpassed Bud Light in share of U.S. draft taps…
Tech giants Google and Samsung have announced plans to release a mixed-reality headset, marking a significant push to rival Apple’s Vision Pro and Meta’s Quest 3 in the expanding wearable technology market. The forthcoming headset, expected to launch in 2025, will be developed by Samsung and powered by a newly designed Android operating system for…
Popular subscription-based platform OnlyFans, widely known for hosting sexually explicit content, is no longer accessible in China after briefly working in recent weeks. The development follows reports on social media platform X in late November that OnlyFans was functioning within the country. These claims were subsequently verified by CNN checks at the time. China, which…
Access Holdings Plc has revealed that its banking arm, Access Bank Plc, has entered into a binding agreement to acquire the entire equity stake in Bidvest Bank Limited, a South African financial institution. In a statement filed with the Nigerian Exchange Limited on Thursday, Access Bank highlighted the acquisition as part of its strategy to…
Walgreens is facing significant financial setbacks, with its stock plummeting by over 80% in the past five years, making it one of the worst-performing companies in that period. In response to its ongoing troubles, the pharmacy giant is closing 1,200 stores, or about 15% of its total locations, and is reportedly in talks with private…
Meta has confirmed a $1 million donation to President-elect Donald Trump’s inaugural fund, marking a significant step in rebuilding ties between the tech giant and the incoming administration. The donation, first reported by The Wall Street Journal, comes shortly after Meta CEO Mark Zuckerberg’s private meeting with Trump at Mar-a-Lago two weeks ago. This move…
German industrial powerhouse Bosch has revealed plans to slash approximately 8,250 jobs globally over the coming years, marking yet another setback for Germany’s struggling economy. The job cuts will primarily affect Bosch’s Mobility sector, which supplies parts to automakers worldwide. The company cited sluggish demand, rising costs, and growing competition as key reasons behind the…
Australia has announced new regulations that will require major tech companies, including Meta and Google, to financially compensate Australian media outlets for news content shared on their platforms. The initiative, dubbed the “News Bargaining Initiative,” is designed to create a financial incentive for digital platforms to reach agreements with local news publishers, Assistant Treasurer and…
A former employee of TD Bank in Florida has been arrested for allegedly facilitating a major money-laundering operation tied to drug cartels. The arrest follows the bank’s record $3 billion fine imposed by the US government for systemic failures in monitoring transactions. Leonardo Ayala, 24, was arrested and charged with one count of money laundering…
Meta has announced that it is close to resolving a significant technical issue causing widespread outages on its platforms, including Facebook, Instagram, and WhatsApp. The company acknowledged the disruption on Wednesday, stating, “We’re aware that a technical issue is impacting some users’ ability to access our apps. We’re working to get things back to normal…
Elon Musk has reached an unprecedented financial milestone, becoming the first individual in history to amass a net worth of $400 billion, according to Bloomberg. This achievement marks another record for the billionaire entrepreneur, who has seen a substantial increase in wealth in recent months. A major factor behind Musk’s rise in wealth is the…
The recent killing of UnitedHealthcare CEO Brian Thompson in Manhattan has sent shockwaves through corporate America, prompting a reevaluation of security protocols across the country. Following the high-profile assassination, boards of directors are urgently reassessing security budgets, with many CEOs now being advised to limit their digital footprints as concerns grow over the safety of…
Three brothers, prominent real estate brokers Tal and Oren Alexander, alongside their sibling Alon, have been charged in a disturbing federal sex trafficking case that allegedly spans over a decade. Federal prosecutors have accused the Alexander brothers of orchestrating a sex trafficking operation, using their wealth and influence to lure, drug, and sexually assault numerous…
The proposed $25 billion merger between grocery giants Albertsons and Kroger – set to be the largest supermarket deal in U.S. history – has officially collapsed. Albertsons announced the termination on Wednesday, just one day after a federal judge blocked the merger, citing concerns over reduced competition and potential price hikes for consumers. In addition…
Macy’s has wrapped up its investigation into an accounting employee who deliberately concealed more than $150 million in delivery expenses over nearly three years. The company has since strengthened its internal controls to prevent a recurrence of the issue. The investigation revealed that the unnamed employee, tasked with tracking small package delivery expenses, entered inaccurate…
Warner Bros. Discovery, the parent company of CNN, announced on Thursday a significant restructuring plan that will divide its operations into two distinct divisions, separating its traditional cable networks from its growing streaming and studio businesses. The new structure, set to take effect by mid-2025, will create two operating units: “Global Linear Networks”—which will oversee…
General Motors (GM) has announced it will end its pursuit of fully autonomous robotaxis, opting instead to concentrate on driver-assistance features that still require human oversight. The decision, revealed on Tuesday, signals a strategic pivot away from a costly and competitive robotaxi market. In a statement, GM cited the substantial time and financial resources needed…
In a dramatic turn of events, a bankruptcy judge has rejected the winning bid by satirical news outlet The Onion to purchase Alex Jones’ controversial Infowars platform. The decision, handed down late Tuesday by Judge Christopher Lopez of the Southern District of Texas, raises questions about the future of Jones’ embattled media empire. The auction…
Krispy Kreme is grappling with operational disruptions following a recent cyberattack, which has severely impacted its online ordering services across parts of the United States. The doughnut chain confirmed on Wednesday that it identified “unauthorised activity” within its technology systems late last month. While the full scope of the breach is still under investigation, Krispy…
In the wake of the tragic killing of UnitedHealthcare CEO Brian Thompson, companies across various industries are rapidly bolstering security measures for their executives, fearing for the safety of top leaders in the face of rising threats. The security response has included the closure of headquarters, the removal of executive photographs from websites, and the…
Tech giant Google has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB), contesting the agency’s recent decision to place its payments division under federal supervision. The lawsuit, submitted Friday in a Washington, DC federal court, follows the CFPB’s declaration of supervisory authority over Google Payment Corp. The agency’s concerns were rooted in customer…
TikTok’s fight to remain operational in the United States faces a significant setback following a U.S. appeals court ruling that upholds a law requiring its Chinese parent company, ByteDance, to sell the platform or face a nationwide ban. In a decision handed down on Friday, the U.S. Court of Appeals for the District of Columbia…
Streaming giant Netflix has addressed recent speculations suggesting it plans to exit the Nigerian market due to economic challenges and regulatory pressures. Responding to the claims, Netflix dismissed the rumours, reaffirming its commitment to Nigeria’s creative industry and its local operations. In a statement shared with TechCabal, the company clarified: “We are not exiting Nigeria….
Guinness Nigeria has partnered with the Lagos State Government to support the inaugural Lagos Shopping Festival, an initiative designed to promote commerce, tourism, and entertainment while boosting economic opportunities for businesses in the region. The event, spearheaded by Lagos State Governor Babajide Sanwo-Olu, is set to take place from December 23 to 25, 2024, at…
Coca-Cola has revised its sustainability targets, significantly reducing its commitments to plastic recycling and usage, a move that has drawn sharp criticism from environmental groups. The company, consistently ranked among the world’s largest producers of plastic waste, announced updated voluntary environmental goals this week. Coca-Cola now aims to use 35% to 40% recycled materials in…
OnlyFans, a popular subscription-based platform known for its adult content, has quietly become accessible in China after years of being blocked by government censorship. Reports of the platform’s availability surfaced on social media last week, with users on X noting that the site was functional. By November 29, GreatFire.org, an organisation monitoring online freedom in…
In a remarkable act of compassion and social responsibility, Beiersdorf Nigeria, makers of NIVEA, has partnered with The Dorcas Cancer Foundation to support child cancer survivors with a ₦16.4 million back-to-school fund. The initiative, dubbed the Back-to-School Fund, will provide tuition, uniforms, books, and other essentials for 15 children for an entire academic year. More…
Pizza Hut is reinventing the traditional pizza restaurant with a new design concept aimed at keeping up with evolving customer expectations and intensifying competition. The chain, which has struggled with sluggish sales in recent years, unveiled its latest redesign at a location in Plano, Texas, showcasing several modern updates that could become standard at its…
Intel, once the undisputed leader in the global tech industry, is facing a period of profound uncertainty, reflecting a dramatic shift from its dominant position. Nearly 30 years after former CEO Andy Grove’s influential book “Only the Paranoid Survive” outlined how to navigate disruptive tech trends, Intel’s failure to keep pace with the mobile revolution…
Elon Musk, one of the world’s richest individuals, has faced a legal roadblock in his quest for a monumental financial windfall. A Delaware Chancery Court ruling has once again invalidated a 2018 Tesla pay package that could have granted him options to purchase 304 million Tesla shares at just $23.34 each – a fraction of…
Wikipedia, a go-to source of information for millions worldwide, has unveiled its most-visited pages for 2024. Released by the Wikimedia Foundation, the list highlights the topics that captured global attention this year, offering a unique insight into the year’s cultural, political, and social trends. The English-language version of the site, viewed over 76 billion times…
A Delaware court has once again blocked Tesla CEO Elon Musk’s massive compensation plan, estimated at $101 billion in stock options, despite approval from Tesla shareholders earlier this year. The ruling, delivered by Delaware Chancery Court Chancellor Kathaleen McCormick, marks the second time Musk’s pay package has been rejected. Initially approved in 2018 and valued…
The Central Bank of Nigeria (CBN) is reportedly planning to retire approximately 1,000 staff members by December 31, 2024, as part of a strategic workforce realignment. The initiative, which includes a ₦50 billion payout plan, was revealed in a report by Daily Trust. Under the leadership of Governor Olayemi Cardoso, the apex bank has described…
The highly anticipated Drake x Nike Air Force 1 “Love You Forever” in “Citron Tint” has officially been revealed through detailed retailer images. The new shots confirm earlier leaks, showcasing a pastel shade that transitions the classic “Triple White” look into a softer, sunnier hue, while retaining the sleek monochromatic aesthetic. Set to release on…
Stoli Group USA, the American division of the iconic vodka brand, has filed for Chapter 11 bankruptcy amidst challenges including declining demand, a significant cyberattack, and prolonged legal battles with the Russian government. In its filing, the company revealed liabilities ranging from $50 million to $100 million, citing “financial difficulties.” Despite the bankruptcy proceedings, Stoli…
Swiss building materials giant Holcim is set to withdraw from Nigeria after 65 years, citing a strategic shift toward high-growth regions and sustainable solutions. The company plans to sell its 83.8% stake in Lafarge Africa Plc to China’s Huaxin Cement in a deal valued at $1 billion. In a statement, Holcim confirmed the agreement with…
Meta, the parent company of Facebook, Instagram, WhatsApp, and Threads, is planning to undertake a $10 billion project to install a massive subsea fiber optic cable, aiming to enhance global internet connectivity. The ambitious project, described as one of the longest subsea cables in history, reflects Meta’s commitment to serving its vast and growing user…
Google has introduced a new feature in its iPhone app called “page annotations,” which injects search links directly into third-party websites. The feature identifies notable terms, such as names, places, and objects, on a webpage and transforms them into clickable links. Tapping these links opens an overlay window providing additional information via Google’s search engine….
Volkswagen is grappling with significant industrial action as tens of thousands of employees stage strikes at its facilities across Germany. These protests, the largest at the automaker’s domestic operations since 2018, began on Monday and are expected to last several hours. The strikes follow protracted collective bargaining talks, during which Volkswagen declined to rule out…
Cloud Imperium Games (CIG) has reportedly laid off several employees in the wake of the intense lead-up to CitizenCon. According to an ex-employee, the company has let go of a number of staff members without offering compensation, despite having required them to work seven-day weeks in preparation for the event. The former employee, who shared…
A Treyarch developer has shed light on the changes to Call of Duty’s movement mechanics following the release of Modern Warfare (2019). In a candid social media post, Matt Scronce, a design team member at Treyarch, explained the rationale behind the adjustments and why some longstanding mechanics feel less effective in Black Ops 6. “Faster…
The Central Bank of Nigeria (CBN) has imposed fines totaling ₦15 billion on 29 financial institutions for breaching Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations. This revelation was made by the CBN Governor, Olayemi Cardoso, during the 2024 Bankers’ Night hosted by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. Governor Cardoso…
Brian Thompson, a prominent figure in the U.S. healthcare sector, tragically lost his life on Wednesday in what appears to be a targeted attack in Manhattan. Known for his leadership as the CEO of UnitedHealthcare, the largest private health insurer in the U.S., Thompson’s untimely death has left his family, colleagues, and an industry in…
Australia has enacted groundbreaking legislation barring children under the age of 16 from using social media platforms, even with parental consent. The move, aimed at protecting young users from online harm, has drawn sharp criticism from tech giants like Meta and TikTok, who argue the decision lacks sufficient evidence and consultation. A Controversial Ban The…
Google is under pressure on multiple fronts, facing monopoly accusations from Canada’s Competition Bureau (CCB) and a new investigation by India’s antitrust regulator over its app policies. These developments add to the tech giant’s growing list of legal challenges globally. Canada: Monopoly Allegations in Online Advertising The Canadian Competition Bureau has filed a lawsuit against…
Elon Musk’s social media platform, X, has taken the unusual step of intervening in the bankruptcy sale of Infowars, owned by conspiracy theorist Alex Jones. Legal experts say this marks an unprecedented move by a social media company in a dispute over account ownership. Infowars’ parent company, Free Speech Systems (FSS), was auctioned off as…
Once a leader in the storage and organization market, The Container Store is facing a tough road ahead. Despite a surge in popularity following its association with Marie Kondo’s “Tidying Up” series, the company now finds itself fighting for survival amid economic shifts and stiff competition. The Rise and Fall of the Kondo Effect In…
Volkswagen has sold its plant in Xinjiang, China, attributing the decision to economic factors. The plant, situated in a region at the heart of international human rights controversies, had shifted from producing combustion engine vehicles in 2019 to operating as a distribution hub. “There is no business case for the plant,” a company spokesperson stated,…
Kraft Mac & Cheese, a staple in American pantries for nearly nine decades, is taking inspiration from modern streetwear culture in its quest to remain the leader in the boxed mac and cheese market. Its latest offering – a limited-edition everything bagel flavour – takes a page from the exclusive “drop” model popularised by sneaker…
