(Brands & Consumers)
The Federal Trade Commission (FTC) has initiated a broad antitrust investigation into Microsoft, targeting the tech giant’s business practices. The agency has formally requested information from Microsoft as part of its inquiry, according to a source familiar with the matter. Neither Microsoft nor the FTC has commented on the investigation, which was first reported by…
A federal judge has dismissed a defamation lawsuit filed by Ray Epps, an Arizona man who alleged that Fox News and former host Tucker Carlson promoted conspiracy theories falsely accusing him of inciting the January 6, 2021, Capitol attack. Epps, a former Marine and Trump supporter, claimed in his lawsuit that the network scapegoated him…
Canadian rapper Drake has filed lawsuits against Universal Music Group (UMG) and Spotify, accusing them of manipulating streaming figures to artificially promote Kendrick Lamar’s diss track, Not Like Us. The legal action, initiated by Drake’s company Frozen Moments LLC, was submitted to the New York Supreme Court on Monday. The filing alleges that UMG and…
Irish whiskey brand Proper No. Twelve has ended its association with mixed martial artist Conor McGregor, following his liability ruling in a sexual assault case. Proximo Spirits, the owner and distributor of Proper No. Twelve, confirmed it will no longer feature McGregor in its branding or promotional materials. In a statement to CNN, Proximo stated…
Walmart, the United States’ largest private employer, is scaling back some of its diversity, equity, and inclusion (DEI) programs, signalling a broader shift in corporate America as companies face mounting political and legal pressures from conservative groups. The retailer recently announced plans to end racial equity training for employees, reevaluate supplier diversity initiatives, and review…
The Dangote Petroleum Refinery has announced that customers can purchase a minimum of two million litres of Premium Motor Spirit (PMS), commonly known as petrol, at a rate of N970 per litre. The announcement was shared in a flyer on the company’s X handle, promoting the product as “high-quality PMS for your vehicles and engine”…
On November 27th, 2024, The Zone in Gbagada Industrial Scheme became the epicentre for a thought-provoking gathering that explored the future of Western and indigenous collaboration within Africa’s burgeoning media and technology sectors. The Swish Fusion Tech Meet focused on dismantling the barriers hindering cross-cultural collaborations, emphasizing the importance of creating platforms for individuals and…
Disney has agreed to a $43 million settlement in response to allegations that it paid female employees less than their male counterparts in comparable roles over nearly a decade. The lawsuit, initiated in 2019 by former employee LaRonda Rasmussen, claimed that she discovered six male colleagues with identical job titles earned significantly more than she…
Germany’s largest steel producer, Thyssenkrupp Steel, has announced plans to cut approximately 11,000 jobs by 2030, marking another major blow to the country’s struggling industrial sector. The reductions, representing 40% of the company’s workforce, are part of a strategic overhaul aimed at addressing intensifying global competition and rising costs. The company plans to reduce 5,000…
Huawei has launched its latest flagship smartphone, the Mate 70, marking a significant milestone in its post-Android evolution. The device runs on HarmonyOS Next, a completely self-developed operating system that no longer supports Android apps, signalling Huawei’s strategic shift towards full independence in mobile technology. The Mate 70, priced from 5,499 yuan ($760), is positioned…
In a surprising twist, billionaire Elon Musk has hinted at the possibility of acquiring MSNBC, sparking widespread speculation about the future of the liberal-leaning cable news channel. Musk, known for his provocative social media presence, has previously criticised MSNBC as “puerile propaganda” and labelled it “the utter scum of the Earth.” Over the weekend, Musk…
Macy’s has delayed the release of its quarterly earnings report after uncovering accounting irregularities tied to a single employee who allegedly concealed up to $154 million in expenses over nearly three years. The irregularities, discovered through a forensic investigation, prompted the retailer to push its earnings release to December 11. According to Macy’s, the former…
Lunchables, the once-iconic compartmentalised meal kit that revolutionised convenience eating for kids and parents, is facing a crisis as its popularity wanes. Sales for the Kraft Heinz-owned brand fell by 12% in the quarter ending November 3, contributing significantly to a 2.2% drop in the company’s overall revenue, according to industry data. A Parent-Approved Staple,…
OpenAI, the artificial intelligence powerhouse, is reportedly considering launching its own web browser, potentially disrupting Google’s dominance in the space. Following the recent debut of its ChatGPT Search feature, OpenAI’s new browser, tentatively named NLWeb (Natural Language Web), could integrate seamlessly with its AI suite, offering a more intuitive and conversational browsing experience. According to…
The 24th edition of the Golden Joystick Awards, the world’s longest-running video game ceremony, delivered an evening of celebration for standout titles like Final Fantasy VII: Rebirth, Helldivers 2, and Black Myth: Wukong. However, the spotlight also shone on Rockstar Games, as the studio promised “absolutely mind-blowing” features for the much-anticipated Grand Theft Auto 6…
The Massachusetts Institute of Technology (MIT) has unveiled a major expansion of its financial aid program, allowing undergraduate students from families earning less than $200,000 annually to attend tuition-free. This adjustment raises the threshold significantly from the previous $140,000 cap, benefiting approximately 80% of American households. For families earning below $100,000, the program offers even…
Elon Musk’s fortune has reached an all-time high, with the billionaire now worth an estimated $347.8 billion, according to Bloomberg. This new milestone surpasses his previous record set in November 2021, when his net worth exceeded $340 billion. The surge in Musk’s wealth follows the aftermath of the 2024 U.S. presidential election, which has fueled…
A coffee shop in Middleborough, Massachusetts, has gained widespread attention for its unconventional promotion: offering free coffee to customers who perform a five-second dance. Coffee Milano Café’s creative campaign went viral after a TikTok video showcasing dancing customers was uploaded on Monday. By Wednesday, the video had garnered over 5 million views, significantly boosting the…
DirecTV has called off its planned acquisition of EchoStar’s satellite television business, which includes rival Dish TV, halting what would have been a major consolidation in the U.S. pay-TV industry. The merger, announced in September, aimed to create a combined subscriber base of 20 million, positioning the new entity as one of the largest pay-TV…
When Deepinder Goyal, CEO of the Indian food delivery giant Zomato, announced a job opening for a Chief of Staff role on social media, it came with an unusual twist. The position offered no salary for the first year, and applicants were required to pay the company 2 million Indian rupees (around $23,670) for the…
Once a symbol of rugged capability and American automotive excellence, Jeep has seen a dramatic downturn in popularity under Stellantis, its parent company. The decline is part of a broader struggle affecting the entire Stellantis portfolio, driven by rising prices and a shift in corporate strategy. The Jeep Gladiator, launched in 2019 as the brand’s…
Donald Trump’s media enterprise, Trump Media & Technology Group (TMTG), is making a move toward the cryptocurrency sector with plans for a digital payment platform called TruthFi. The development comes just weeks after Trump’s election victory, which has invigorated hopes for more favourable crypto regulations in the United States. A recent trademark application filed by…
Indian billionaire Gautam Adani, alongside seven other executives, has been indicted in New York on allegations of orchestrating a multimillion-dollar bribery and fraud scheme tied to solar energy projects. This development has cast a shadow over the Adani Group, one of India’s most prominent conglomerates, and stirred political tensions back home. The Allegations The U.S….
Ford Motor Company has announced plans to cut nearly 4,000 jobs across Europe by 2027, a move representing 14% of its regional workforce. The decision comes as the automaker grapples with weakening demand for electric vehicles (EVs), rising competition from Chinese manufacturers, and economic uncertainties in the automotive sector. The U.S.-based carmaker disclosed on Wednesday…
Stellantis has postponed the production of its highly anticipated Ram electric pickup truck, pushing the launch to the first half of 2025. The automaker, which originally planned to release the vehicle this year, cited quality assurance as the primary reason for the delay. The announcement came as the Franco-Italian company unveiled its STLA Frame platform,…
McDonald’s has temporarily halted the sale of espresso-based drinks at certain U.S. locations following a safety issue with its espresso machines. The machines, which are used to make popular McCafé beverages like iced lattes, cappuccinos, and macchiatos, have been decommissioned while the problem is investigated. The affected machines, manufactured by Melitta, are valued at $3,000…
Jersey Mike’s Subs has reached a significant milestone, with its valuation soaring to $8 billion following a major investment from private equity powerhouse Blackstone. This move marks the end of nearly 70 years of independent ownership for the popular sandwich chain, which has emerged as a fierce competitor to industry giants like Subway. Blackstone revealed…
Moniepoint, Africa’s rapidly growing financial institution, has been honoured with the title of Financially Inclusive Fintech of the Year at the 2nd International Financial Inclusion Conference (IFIC), hosted by the Central Bank of Nigeria (CBN). The prestigious recognition was awarded at an event that gathered key figures from the financial services industry, including Philip Ikeazor,…
The U.S. Agency for International Development (USAID), in collaboration with Ascend Studios, has announced the launch of the Africa Creative Blueprint, a groundbreaking initiative designed to strengthen Nigeria’s creative industry and elevate its talent to global prominence. This $3.5 million partnership, supported by additional contributors such as Paramount Nigeria, Venture Garden Group, and music executive…
The ongoing antitrust case against Google has taken a dramatic turn, with reports indicating the US Department of Justice (DOJ) plans to propose measures that could include forcing the tech giant to sell its Chrome browser. As the world’s most popular web browser, Chrome sits at the centre of Google’s ecosystem, raising questions about how…
Danish pharmaceutical company Novo Nordisk has introduced its weight-loss drug Wegovy in China, following its approval by local health authorities in June. The launch places Novo Nordisk in direct competition with Eli Lilly, whose weight-loss drug was also approved but has not yet entered the Chinese market. With over 180 million people living with obesity…
For George Matthew, a doctor-turned-farmer in Kerala, a failed experiment with cocoa saplings a decade ago became the foundation for a thriving venture—thanks to some unexpected help from squirrels. Dr. Matthew, who inherited a struggling rubber plantation in the 1970s, decided to diversify his crops as falling rubber prices eroded profits. He planted cocoa trees,…
Roblox, the popular online gaming platform, has announced significant updates to improve child safety, including a ban on under-13s sending direct messages without parental approval. The new policy, set to roll out from Monday and fully implemented by March 2025, will block younger users from sending private messages by default. Parents or guardians can override…
Autonomous vehicles are no longer a futuristic concept; they are steadily becoming a reality on the streets of cities worldwide. From Waymo’s fleet in the U.S. to Apollo Go’s network in China, the race is on to win the trust of passengers. However, gaining widespread acceptance for self-driving taxis remains an uphill battle, with safety…
The commissioning of Aliko Dangote’s $20 billion (£15.5 billion) oil refinery, a state-of-the-art facility poised to revolutionise Nigeria’s downstream oil sector, stands as one of the nation’s most significant business developments in decades. Yet, amidst the fanfare, Nigerians are left pondering two critical questions: Will fuel finally become affordable? And will the infamous, hours-long fuel…
A gold pocket watch gifted to Captain Sir Arthur Rostron, the British seafarer who led the rescue of over 700 Titanic survivors, has sold for a staggering £1.56 million ($1.97 million) at auction, setting a new record for Titanic memorabilia. The 18-carat Tiffany & Co. watch was presented to Sir Arthur by three survivors of…
The operator of Pizza Hut’s dine-in restaurants across the UK, Heart With Smart (HWS), is looking to raise over £10 million to counter the financial strain caused by recent tax increases announced in last month’s Budget. The funds may come from a partial sale of the business or new investments from existing shareholders. The move…
The World Bank has reported a discrepancy involving $32 million in funds allocated to a water infrastructure project in Nigeria. The revelation was detailed in the organisation’s FY2024 Sanctions System Annual Report, which highlights global efforts to maintain financial integrity across its projects. According to the report, the unaccounted funds were intended to improve water…
Advance Auto Parts has announced plans to close more than 700 locations as part of a restructuring strategy to stabilise its finances. The decision follows disappointing earnings that fell short of analysts’ predictions, causing the company’s stock to drop nearly 5% in premarket trading. The closures will include approximately 500 corporate-owned stores and 200 independently…
Former U.S. President Donald Trump is reportedly planning to eliminate the $7,500 electric vehicle (EV) tax credit, a move that could disrupt the auto industry. Surprisingly, this decision may benefit Tesla, the leading EV maker, and its billionaire CEO Elon Musk, despite its potential to raise costs for consumers. Unlike many legacy automakers, Tesla is…
A federal judge has ruled that Kraft Heinz must contend with a proposed nationwide class-action lawsuit alleging it misled consumers by stating its Kraft Macaroni & Cheese contains “no artificial preservatives.” U.S. District Judge Mary Rowland, based in Chicago, ruled on Wednesday that the lawsuit, led by consumers from Illinois, California, and New York, could…
The European Union has imposed a €798 million ($840 million) fine on Meta Platforms for what it described as antitrust violations linked to Facebook Marketplace. According to the European Commission, Meta breached EU competition laws by tying Facebook Marketplace, its online classified ads service, to its dominant social networking platform, Facebook. The company was also…
A U.S. federal court has sentenced Ilya Lichtenstein to five years in prison for laundering cryptocurrency stolen during the 2016 hack of the Bitfinex cryptocurrency exchange. The theft involved nearly 120,000 Bitcoin, one of the largest cryptocurrency heists in history. At the time of the hack, the stolen Bitcoin was valued at approximately $70 million…
South African pay-TV giant, Multichoice Group, has announced a significant financial setback, writing off N31.6 billion ($21 million) held in cash with Heritage Bank, which was recently liquidated by the Central Bank of Nigeria (CBN). This development was revealed in Multichoice’s financial results for the six-month period ending September 30, 2024. The company initially reported…
Amazon has launched a budget-friendly shopping outlet called Haul, offering U.S. customers products capped at $20 (around £15.79) as it takes aim at popular low-cost retailers Temu and Shein. Haul, accessible via the Amazon Shopping app, introduces a mobile-only experience featuring heavily discounted items with delivery times of up to two weeks. Promising “crazy low…
Apple is under fire in the UK as consumer advocacy group Which? initiates a £3 billion legal claim, alleging that the tech giant has effectively locked 40 million British users into its iCloud service while charging them excessive prices. If successful, the lawsuit could award affected consumers approximately £70 each. Which? argues that since 2015,…
Elon Musk, CEO of Tesla and X (formerly Twitter), has proposed an ambitious plan to slash U.S. government spending by $2 trillion, a move he claims is achievable by tackling “waste” within federal expenditures. Musk floated the idea during a recent appearance at a New York City rally for former President Donald Trump. With Trump’s…
Spirit Airlines, the largest budget carrier in the United States, has filed for Chapter 11 bankruptcy protection, citing challenges stemming from pandemic-era disruptions and failed acquisition deals. The move, announced on Monday, is part of a strategic attempt to restructure its finances while maintaining regular operations for passengers. The airline, headquartered in Miramar, Florida, has…
The Guardian has announced it will cease posting content on X (formerly Twitter), citing the platform’s increasingly toxic nature and its owner Elon Musk’s influence on political discourse. The British newspaper group expressed concerns over the platform’s role in shaping political narratives, particularly following the US presidential election, where Musk’s backing of Donald Trump raised…
Volkswagen Group (VW) has increased its investment in a strategic partnership with electric vehicle (EV) maker Rivian, launching a joint venture worth $5.8 billion. This new deal, which builds on an initial commitment of $5 billion from VW, is expected to bolster both companies’ position in the growing EV market, particularly amid intensifying global competition…
