(Brands & Consumers)
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…
The Nigeria Customs Service (NCS) has reached its 2024 revenue target of N5.07 trillion, marking a milestone in the agency’s financial achievements. Comptroller General of Customs, Bashir Adeniyi, announced the accomplishment at the Comptroller General of Customs’ Conference held in Abuja. Adeniyi disclosed that the target was met on November 12, 2024, with the NCS…
Nigeria’s popular mayonnaise brand, Bama, has announced the celebrated musician 2Baba as its newest brand ambassador. This collaboration marks a notable union between an iconic product and an influential artist whose legacy extends across Africa. The partnership highlights Bama’s mission to enhance everyday Nigerian meals, offering consumers a premium ingredient that elevates the taste experience….
In a pivotal legal decision, a Dutch court has overturned a prior ruling that required oil giant Shell to reduce its carbon emissions by 45%, dealing a setback to environmental advocates. The Hague Court of Appeal determined it could not legally enforce a specific reduction target on Shell, despite affirming the company’s duty to contribute…
The UK’s unemployment rate has risen to 4.3% for the quarter ending in September, up from 4% in the previous three months, according to the Office for National Statistics (ONS). However, pay growth has also decelerated, raising concerns about economic stability. The ONS noted a moderation in wage growth, with average earnings excluding bonuses increasing…
A recent report by NETSCOUT has highlighted Nigeria and Ghana as West Africa’s leading digital hubs facing intense cyber threats, with Nigeria recording 2,721 cyber incidents in the first half of 2024 alone. Both countries have become prime targets due to their growing digital sectors, attracting a high frequency of Distributed Denial of Service (DDoS)…
Nintendo is pursuing a substantial $7.5 million lawsuit against Jesse Keighin, a popular streamer known as “Every Game Guru,” for allegedly broadcasting pirated Nintendo games and leaking unreleased titles on his channels. Filed last week, the lawsuit claims Keighin not only streamed numerous Nintendo games before their official releases but also shared tools and instructions…
With Red Lobster and TGI Fridays shuttering locations across the U.S., new businesses are seizing the opportunity to take over these prime properties. In Woodbridge, Virginia, a former TGI Fridays will soon house a LongHorn Steakhouse, while a closed Red Lobster in Naples, Florida, is set to become a Chick-fil-A. In Watertown, New York, a…
Bitcoin soared to an all-time high above $80,000 on Sunday, with the cryptocurrency rallying in the days following Donald Trump’s projected victory in the U.S. presidential election. Bitcoin’s remarkable rise, which saw it gain 80% so far this year, has sharply outpaced the S&P 500’s 25.7% gain, marking a significant leap for digital currency enthusiasts…
If you’re scummily going to buy a consumer product, often in bulk, with the intention of reselling it at a huge markup, make sure the item in question is in short supply and high demand. It’s a lesson some PS5 Pro resellers have failed to heed, with many being forced to list the item for…
Microsoft has breathed new life into its classic Paint application by adding cutting-edge AI tools as part of the latest Windows 11 update. Originally launched in 1985, Paint has remained one of Microsoft’s simplest and most enduring programs, yet it’s now equipped with powerful AI capabilities that allow users to create advanced visuals with ease….
With the release of the iPhone 16, Hong Kong Apple stores have attracted an unexpected influx of Russian shoppers, cash in hand, eager to buy the latest devices at a premium. Russian buyers are offering up to 12% above retail prices to locals who have just purchased the devices, creating a brisk resale trade. This…
President-elect Donald Trump made a significant financial gain on Friday, adding half a billion dollars to his net worth with a single post on his social media platform, Truth Social. Trump’s message, which addressed rumours about his intentions regarding Truth Social shares, sent the stock of Trump Media and Technology Group surging by nearly 15%…
A Brazilian businessman and cryptocurrency expert with reported ties to one of Brazil’s most powerful criminal organizations, the Primeiro Comando da Capital (PCC), was shot dead on Wednesday at São Paulo’s Guarulhos Airport. Antônio Vinicius Gritzbach, who had recently entered a plea deal with prosecutors to provide details on PCC’s money laundering operations, faced death…
Zenith Bank Plc has completed a major technology upgrade, positioning itself with the top infrastructure in the banking industry to enhance customer experience and service delivery. This upgrade marks a significant step in the bank’s commitment to providing innovative, efficient, and secure services. In an announcement on Wednesday, Group Managing Director/CEO Dame Dr. Adaora Umeoji,…
In a much-anticipated announcement, Take-Two Interactive has confirmed that Grand Theft Auto VI (GTA VI) remains on track for a fall 2025 release, ending speculation that the highly awaited game could face delays into 2026. However, there’s still no confirmation regarding a PC version. The release date confirmation was part of Take-Two’s latest earnings report,…
Donald Trump’s re-election on Wednesday wasn’t just a triumph for his political supporters; it brought an unprecedented financial boost to the world’s wealthiest individuals. According to Bloomberg’s Billionaire Index, the combined wealth of the top 10 richest people surged by $64 billion in a single day, marking the largest daily increase recorded since the index’s…
