(Brands & Consumers)
Investors at the Nigerian Stock Exchange (NGX) experienced a loss of N37 billion as the domestic equity market faced a decline, largely driven by sell-offs in Tier One banking stocks. At the close of trading, the market capitalization, which opened at N56.615 trillion, dropped by N37 billion, or 0.07%, ending the day at N56.578 trillion….
A New Jersey couple who sustained life-altering injuries in an Uber crash have been told they cannot pursue legal action against the company, as they are bound by Uber’s Terms of Use, which they had accepted through the app. Georgia and John McGinty attempted to sue Uber following a March 2022 crash that left them…
Bernard Arnault, chairman of French luxury conglomerate LVMH, saw his wealth surge by $17 billion in a single day, thanks to China’s latest economic stimulus measures aimed at reviving growth. This comes after a series of announcements from Chinese leadership designed to restore confidence in the country’s struggling economy, which had been dampening demand for…
Infinix has unveiled its first flippable smartphone, the ZERO Flip, marking the tech brand’s entry into the foldable device market. Known for its appeal to younger consumers, Infinix has designed the ZERO Flip to offer a blend of advanced technology, creativity, and style. This latest flagship device is the only flip phone in its category…
US-based startup Proto is revolutionising virtual communication with its hologram-like technology that beams life-sized video feeds into various settings, including universities, medical centres, and hotels. The company, which calls itself the world’s “first holographic communications platform,” has developed large boxes capable of creating a 3D-like visual effect, giving users the sense of physical presence. The…
Nigerian gamers and thousands of global players have expressed frustration and disappointment following the much-anticipated launch of Hamster Kombat’s coin rewards. The popular game, which had captivated users with promises of substantial financial gains, left many feeling short-changed after the coin’s release on Thursday failed to deliver the expected payouts. After months of intense gameplay…
An advertisement for Nike sneakers, marketed as a discounted $35 deal, has been banned in the UK for misleading consumers. The ad, which appeared on the X account of The Sole Supplier in December 2023, promoted a pair of sneakers with the tagline “Now just £26 at Nike!” and featured emojis, but failed to clarify…
Wendy’s has launched a strategic move against its rival, McDonald’s, by offering a $1 Frosty to capitalize on the fast-food giant’s notorious issue with broken McFlurry machines. The promotion, which runs until September 30, offers a small-sized Frosty for just $1 and is part of a collaboration with McBroken, a website dedicated to tracking McDonald’s…
The creators of the popular adult party game Cards Against Humanity have filed a $15 million lawsuit against SpaceX, accusing the aerospace company of trespassing on land they purchased near the US-Mexico border. The lawsuit, filed by Chicago-based Cards Against Humanity LLC, claims that SpaceX, owned by billionaire Elon Musk, has unlawfully occupied and used…
Caroline Ellison, former CEO of Alameda Research and key witness in the case against FTX founder Sam Bankman-Fried, has been sentenced to two years in prison. A federal judge handed down the sentence after recognizing her crucial cooperation with prosecutors, which played a pivotal role in convicting Bankman-Fried in one of the largest financial fraud…
Timber merchants in Ogun State have raised concerns over the increasing destruction of economic trees by illegal cocoa farmers in the Omo Forest Reserve, located in the J4 area of Ijebu Ode. The merchants, under the Ijebu Sawmillers and Timber Contractors Association, have called for urgent government intervention, claiming the state is losing over N500…
Coca-Cola has announced the discontinuation of its Spiced flavour, a decision made just six months after its introduction to the market. This move signals an end to the company’s recent efforts to appeal to younger consumers, particularly Gen-Z drinkers. In a statement, a spokesperson for Coca-Cola explained, “We’re always looking at what our customers like…
In a significant development, X, formerly known as Twitter, is poised to comply with the Brazilian Supreme Court’s directives to reinstate its services for the platform’s 21 million users in Brazil after a more than three-week blackout. The move comes amid escalating tensions between billionaire CEO Elon Musk and Brazil’s highest court. On Friday, lawyers…
The Central Bank of Nigeria (CBN) has once again raised the country’s interest rate, bringing it up by 50 basis points to 27.25%. This marks the fifth consecutive hike since February 2024, as part of the Monetary Policy Committee’s (MPC) ongoing efforts to stabilize the economy. The CBN Governor, Olayemi Cardoso, made the announcement during…
In a bid to lure moviegoers back to theatres amid growing competition from streaming services and luxury cinemas, the largest movie theatre chains in the United States and Canada have unveiled a $2.2 billion renovation plan. The National Association of Theatre Owners (NATO), representing major chains like AMC Entertainment, Regal Cinemas, and Cinemark, announced the…
Libya now boasts the lowest petrol prices in Africa, selling Premium Motor Spirit (PMS) at just ₦52 ($0.031) per litre, according to data from Global Petrol Prices, a platform that tracks fuel costs globally. This places Libya as the second most affordable country for petrol in the world, trailing only Iran, where fuel is priced…
The U.S. Securities and Exchange Commission (SEC) is seeking sanctions against Elon Musk after he failed to appear for scheduled testimony related to its investigation into his $44 billion acquisition of Twitter, now known as X. The SEC filed the request in court on Friday, citing Musk’s absence from a deposition originally set for September…
General Motors (GM) is set to lay off 1,695 employees at its Fairfax Assembly plant in Kansas, according to a recent Worker Adjustment and Retraining Notification (WARN) notice. The company will begin implementing the layoffs in two phases starting November 18. In the first phase, GM will temporarily lay off 686 full-time workers and terminate…
In Nigeria’s bustling cultural landscape, where music, fashion, and nightlife intertwine, Jägermeister has emerged as a prominent figure, cementing its role as a “Meister of Culture.” The legendary German herbal liqueur has become deeply embedded in Nigeria’s dynamic creative scene, driving unforgettable experiences through strategic partnerships and vibrant collaborations. The Rhythm of Nigeria Jägermeister’s entry…
When McDonald’s first introduced touchscreen kiosks in its restaurants 25 years ago, many feared they would lead to job losses. However, the actual outcome was unexpected: rather than eliminating jobs, these kiosks have increased the workload for kitchen staff and shifted employees to new roles, leading to more tasks for workers rather than fewer. Back…
YouTube has rolled out a new ad feature that displays advertisements even when videos are paused, further frustrating users already dealing with unskippable ads. The Google-owned platform confirmed on Thursday that its new “Pause ads” are now available to all advertisers, appearing on the screen’s side whenever a video is paused. A Google spokesperson described…
Hong Kong aviation investigators have revealed that an engine defect discovered on Cathay Pacific’s Airbus A350 fleet earlier this month could have led to “extensive damage” if left unaddressed. The issue came to light after a Zurich-bound Cathay Pacific flight was forced to return to Hong Kong shortly after takeoff on September 2, prompting the…
Nike is undergoing a major leadership overhaul as it grapples with intensifying competition and internal strategy missteps. On Thursday, the athletic apparel giant announced that CEO John Donahoe will retire next month and will be succeeded by Elliott Hill, a long-time former Nike executive. Following the announcement, Nike’s stock jumped 9% in after-hours trading, despite…
Seattle, Washington – Amazon has announced significant changes to its benefits package for US warehouse and transportation workers. In addition to increasing wages by at least $1.50 per hour, the company will now offer employees a free Amazon Prime membership. The decision comes amid a tight labour market for logistics workers and increased online shopping….
MrBeast’s production company and Amazon are facing a proposed class-action lawsuit filed by five contestants who participated in the reality show “Beast Games.” The lawsuit alleges that the contestants were subjected to unsafe working conditions, denied pay, and faced a culture of misogyny and sexism. The 54-page document details allegations of unreasonable and unsafe conditions…
Starling Bank, a UK-based online lender, has issued a stark warning about the rise of artificial intelligence (AI) voice-cloning scams, stating that “millions” could be vulnerable to this growing threat. According to the bank, fraudsters can now replicate a person’s voice using as little as three seconds of audio, which can be easily obtained from…
Google secured a major legal victory on Wednesday by overturning a €1.49 billion ($1.66 billion) fine imposed by the European Union for antitrust violations, while chipmaker Qualcomm faced a less favorable outcome in its appeal. The European Commission had originally fined Google in 2019, accusing the tech giant of abusing its market dominance to block…
In a night charged with vibrant energy and smooth beats, Legend Twist played a key role in sponsoring Niniola’s exclusive listening party for her new album Press Play, hosted by The Listening Room. The event was more than just a preview of Niniola’s latest work – it was a fusion of music and entertainment, bringing…
Instagram has announced significant changes aimed at increasing the safety of its teenage users, automatically converting millions of accounts into private profiles under new “teen account” settings. The update, revealed on Tuesday, marks Instagram’s most comprehensive effort to date in protecting young users from harmful content and interactions on the platform. The changes come nearly…
The U.S. Department of Transportation (DOT) has given Alaska Airlines the green light to proceed with its $1.9 billion acquisition of Hawaiian Airlines, following an agreement between the carriers to maintain key routes and implement consumer protections. The deal, first announced in December, will see Alaska Airlines, the fifth-largest U.S. airline, acquiring Hawaiian Airlines, the…
Carmart Africa has introduced a groundbreaking solution to address inflated car prices in Nigeria with the launch of its Car Price Checker and Car Valuation Tool. This innovative resource aims to bring transparency and fairness to the Nigerian car market, helping both buyers and sellers navigate the often confusing landscape of vehicle pricing. At the…
Amazon has announced that its corporate employees will be required to return to the office five days a week, beginning January 2, 2025, marking a significant shift from its current hybrid work policy. The company’s existing arrangement, introduced during the pandemic, allows employees to work in the office only three days per week. Amazon CEO…
Harland & Wolff, the historic shipbuilder responsible for constructing the Titanic, has declared itself insolvent after failing to secure critical funding. The 163-year-old UK-based company announced on Monday that it would likely enter administration in the coming days, following the rejection of its £200 million ($264 million) funding request from UK Export Finance. While administration…
Former BBC news presenter Huw Edwards has been sentenced to a six-month suspended prison term for possessing indecent images of children. The 60-year-old journalist, who was once the BBC’s highest-paid presenter, pleaded guilty to the charges in July. Edwards was ordered to complete a sex offender treatment program and undergo 25 rehabilitation sessions as part…
Disney and DirecTV have resolved their brief but contentious distribution dispute, restoring access to Disney-owned channels such as ABC, ESPN, and FX for DirecTV’s more than 11 million subscribers. The agreement, finalized on Saturday, brings an end to a blackout that began on September 1, during which viewers were unable to watch popular programs including…
Grangemouth, Scotland’s only oil refinery, is set to shut down in 2025, resulting in the loss of 400 jobs, according to operator Petroineos. The closure, reported by Reuters, marks the end of operations at Britain’s oldest refinery, which will cease production in the second quarter of next year, pending employee consultations. The announcement comes as…
The UK government has granted a total of 1.16 million visas for work, study, and family reasons in the year ending June 2024, according to newly released immigration data. The report shows significant decreases in key visa categories, with work visas for main applicants down by 11% and student visas dropping by 13% compared to…
Home Depot has agreed to pay nearly $2 million to settle a civil enforcement case brought by California district attorneys, accusing the home improvement giant of false advertising and unfair competition. The case involved instances where customers were charged more at checkout than the prices displayed on shelf tags or the items themselves, a violation…
Innovative technology brand TECNO has unveiled the new PHANTOM V Fold2 5G, an AI-enhanced second-generation foldable smartphone that brings more efficiency for business professionals and creatives. Embracing the incredible possibilities of large-screen foldable devices, it is a powerhouse of productivity and creativity elevated by futuristic AI innovation. PHANTOM V Fold2 5G is freshly equipped with…
In response to the rising cost of Premium Motor Spirit (PMS), also known as fuel, the Nigerian Federal Government has begun converting 150 commercial vehicles in Kaduna State to run on Compressed Natural Gas (CNG). The conversion process, which is free of charge, is part of a broader initiative aimed at easing the burden of…
Pepsi is ramping up its efforts to associate its signature soda with one of America’s favourite takeout meals—pizza. Through a new partnership with DoorDash, the beverage giant is offering consumers the chance to score free pizza from major chains like Little Caesars, Papa Johns, Pizza Hut, and Marco’s Pizza when they order select Pepsi products…
Worldcoin, a lesser-known venture co-founded by OpenAI’s Sam Altman, is setting its sights on addressing a major concern in the age of artificial intelligence (AI): verifying human identity in the digital world. As AI progresses towards achieving artificial general intelligence (AGI), Altman envisions a future where distinguishing between humans and bots online will be crucial….
The recent surge in petrol prices across Nigeria is having a severe impact on low-income earners, as many struggle to cope with soaring transportation costs. The price hike, which has led to petrol selling for between N850 and N1,400 per litre in various parts of the country, has triggered widespread concern among millions of Nigerians,…
Chinese regulators have imposed a record fine of 441 million yuan ($62 million) and a six-month business suspension on PwC’s auditing arm in mainland China for its role in the financial mismanagement of property giant China Evergrande Group. The fine, announced on Friday, is the largest penalty ever levied against a Big Four accounting firm…
Development economist Mohammed Nezifi has warned that the recent hike in petrol prices in Nigeria may push the government to increase workers’ wages. In an interview with the News Agency of Nigeria (NAN) on Friday in Abuja, Nezifi cautioned that demands for wage hikes or subsidies could lead to higher fiscal deficits and increased public…
Hyundai and General Motors (GM) have announced a collaborative effort aimed at developing new vehicles, streamlining supply chains, and advancing clean energy technologies. The partnership is designed to reduce costs and accelerate production amid increasing pressure on global automakers to innovate in the electric vehicle (EV) and battery space due to strict emissions regulations worldwide….
American rapper and entrepreneur Sean Combs, known professionally as Diddy, was arrested on Monday night in New York by federal agents. His arrest took place at a Manhattan hotel following a grand jury indictment. Marc Agnifilo, Combs’ lawyer, has criticized the U.S. Attorney’s Office for what he described as an unjust prosecution. Agnifilo emphasized that…
General Mills, the food giant behind popular brands like Cheerios, announced plans to sell its North American yoghurt business to two French dairy companies, Groupe Lactalis and Sodiaal, in a $2.1 billion transaction. The sale includes its U.S. yogurt unit, which will be acquired by Lactalis, while Sodiaal will take over the Canadian operations. The…
Heineken has unveiled its new 45cl bottle, designed to cater to the evolving tastes of Nigeria’s younger generation. The launch took place at a special press conference in Onitsha, where top executives from Nigerian Breweries, key distributors, and trade partners gathered to celebrate this significant addition to the Heineken portfolio. The 45cl bottle, with its…
A High Court in Abuja has ordered the National Broadcasting Commission (NBC) to temporarily halt its move to terminate a contract related to Nigeria’s transition from analogue to digital television. The directive comes as part of an ongoing legal battle between NBC and six companies involved in the contract. The court, presided over by Justice…
