(Brands & Consumers)
Elon Musk, the billionaire CEO of Tesla, has issued a stark warning about the U.S.’s financial future, predicting a looming bankruptcy due to skyrocketing national debt—a scenario he believes could trigger a major bitcoin price boom. The warning came after the U.S. national debt surged by $204 billion in just one day, hitting a record…
A 41-year-old Canadian woman, Adrienne Munju, has been arrested by the National Drug Law Enforcement Agency (NDLEA) at the Murtala Muhammed International Airport (MMIA) in Lagos for attempting to smuggle a large quantity of synthetic cannabis, known as ‘Canadian Loud’, into Nigeria. According to an official statement released by Femi Babafemi, Director of Media &…
OpenAI, the company behind the popular AI tool ChatGPT, has raised a staggering $6.6 billion in a private funding round, giving it a valuation of $157 billion. The investment, one of the largest in Silicon Valley history, brings in major tech players such as Microsoft, Nvidia, Thrive Capital, and SoftBank. However, as OpenAI transitions from…
YouTube sensations Logan Paul, MrBeast, and KSI have launched a new meal option aimed at providing a healthier alternative to Lunchables, a popular choice in the school lunch market. The trio’s new product, called Lunchly, combines their well-known brands into one all-in-one meal, targeting their vast and young fan base. Lunchly offers a selection of…
Costco has expanded its offerings of precious metals by introducing platinum bars to its collection. The retail giant is now selling 1 oz. Swiss-made platinum bars for $1,089.99 on its website, with a Costco membership required for purchase. The bars, featuring the Roman goddess of prosperity, Lady Fortuna, are manufactured by a reputable Swiss refiner….
Tesla has issued a recall for approximately 27,000 Cybertrucks due to a rearview camera malfunction that could increase the risk of accidents. The issue, identified by the National Highway Traffic Safety Administration (NHTSA), involves a delay of up to 8 seconds before the rearview camera image appears on the dashboard when the vehicle is put…
The Vatican Bank has terminated the employment of two staff members whose recent marriage violated a newly imposed ban on employee unions. The decision was made public in a statement on Wednesday, with the bank, officially known as the Institute for the Works of Religion, explaining that the dismissal was necessary to uphold its new…
The Academic Staff Union of Universities (ASUU) has raised alarm over the imminent collapse of many Nigerian universities due to the unsustainable cost of electricity. ASUU President, Prof. Emmanuel Osodeke, voiced these concerns on Thursday at the opening of a two-day national conference in Abuja, highlighting the financial strain institutions face. Prof. Osodeke revealed that…
Luxury conglomerate LVMH has signed a landmark 10-year sponsorship agreement with Formula 1, which will showcase its prestigious brands, including Louis Vuitton, Moet Hennessy, and TAG Heuer. The deal, announced on Wednesday, will come into effect in 2025, replacing Rolex, a long-standing F1 sponsor since 2013. LVMH, led by billionaire Bernard Arnault, is expanding its…
The Federal High Court in Abuja has issued a landmark ruling preventing the Directorate of Road Traffic Services, also known as VIO, from stopping vehicles, impounding them, or imposing fines on motorists. The judgment was delivered on Wednesday, October 2, 2024, by Justice Evelyn Maha. The case, which involved a fundamental rights enforcement suit (FHC/ABJ/CS/1695/2023),…
McDonald’s is set to introduce its Chicken Big Mac to U.S. customers, following its resounding success in the United Kingdom, where the sandwich sold out within 10 days. Starting October 10, the Chicken Big Mac will be available at McDonald’s locations across the U.S. for a limited time. The Chicken Big Mac mirrors the classic…
OpenAI, the tech company behind ChatGPT, has raised $6.6 billion in a new funding round, bringing its valuation to a staggering $157 billion. This puts OpenAI on par with major global firms like Goldman Sachs and solidifies its position as one of the most valuable start-ups worldwide. The latest funding round saw investments from major…
The social media platform X, formerly known as Twitter, has seen its valuation plummet by nearly 80% since billionaire Elon Musk purchased it in October 2022, according to new estimates from investment firm Fidelity. After acquiring the platform for $44 billion and taking it private, the company no longer reports publicly on its financial health….
CNN, one of the world’s leading news platforms, has introduced a digital paywall, charging select users $3.99 per month for article access. This move marks the first time the news giant has asked readers to pay for its content. Starting Tuesday, CNN’s U.S. readers will be prompted to subscribe after consuming a certain number of…
Apple’s hopes for the iPhone 16 becoming a blockbuster hit have been dampened by slower-than-expected pre-sale figures. Despite the company introducing new artificial intelligence (AI) features, early sales estimates suggest the launch may not have generated the excitement Apple anticipated. Pre-sale data shows that Apple sold approximately 37 million iPhone 16 units during its first…
Nigeria’s import bill for used vehicles, commonly referred to as “Tokunbo” cars, has seen a dramatic decline, dropping by 83% in the first half of 2024. According to data from the National Bureau of Statistics (NBS), the import value fell to ₦138.62 billion, a sharp decrease from ₦819.15 billion recorded in the same period in…
Philadelphia-based radio network Audacy has successfully completed its financial restructuring, significantly reducing its funded debt by 80%, from approximately $1.9 billion to $350 million. The company announced this on Monday, marking a major milestone in its efforts to regain financial stability. Audacy, which operates one of the largest radio networks in the United States, credited…
Mark Zuckerberg, CEO of Meta, has officially entered the exclusive $200 billion club, closing in on the title of the third-richest person globally. According to Bloomberg’s Billionaire Index, Zuckerberg’s fortune has skyrocketed by $73.4 billion in 2024, bringing his total net worth to $201 billion. At 40, Zuckerberg ranks as the fourth-richest person in the…
Chinese electric vehicle giant BYD is recalling approximately 97,000 of its Dolphin and Yuan Plus electric vehicles (EVs) due to a defect in the steering control unit that poses a potential fire risk. The recall, announced by China’s State Administration for Market Regulation (SAMR) on Sunday, affects vehicles produced between November 2022 and December 2023….
The World Bank has approved an additional loan of $1.57 billion for Nigeria to support critical sectors including education, healthcare, and infrastructure. The Washington-based financial institution made the announcement on Monday, revealing that the loan was approved on September 26, 2024. According to the World Bank, this new financing will aid Nigeria in addressing governance…
Michael Fortin, once at the forefront of Hollywood’s streaming golden age, now finds himself on the brink of homelessness. The actor and aerial cinematographer, who turned his drone-flying hobby into a successful business in 2012, was in high demand, working on projects for Netflix, Amazon, and Disney. But today, after losing his Huntington Beach home,…
Coldplay’s upcoming Music of the Spheres tour in Mumbai has sparked widespread outrage as concert tickets, which sold out within minutes, are now being resold for exorbitant prices. Initially available through BookMyShow (BMS), the official ticketing platform, prices ranged from 2,500 to 12,000 rupees. However, resellers have since listed them for as much as 900,000…
In 2010, Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), purchased luxury department store Harrods for £1.5 billion. What was intended to be a jewel in the Gulf state’s crown has now turned into a scandal, as Harrods faces serious sexual abuse allegations connected to its former owner, Mohamed Al Fayed. A recent BBC…
Microsoft is set to relaunch its AI-powered screenshot tool, Recall, in November after facing widespread criticism over privacy concerns. Originally described as a “privacy nightmare” when introduced in May 2024, the tool’s release was postponed after backlash from users and privacy advocates. Recall, which is designed to take regular screenshots of users’ activity to help…
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…
