(Brands & Consumers)
Elon Musk is voicing strong opposition to Apple’s newly announced partnership with OpenAI, creators of ChatGPT. The Tesla and SpaceX CEO declared on Monday that he would ban Apple devices from his companies if Apple proceeds with integrating OpenAI’s technology into its operating systems. In a post on X, Musk stated that integrating OpenAI at…
At its annual Worldwide Developers Conference on Monday, Apple introduced its first generative AI features for the iPhone, marking a significant shift towards AI integration in its products. The company launched several new tools under the “Apple Intelligence” banner, including personalized Genmoji—AI-generated emojis—and a more advanced Siri capable of answering complex queries and managing personal…
Elizabeth Holmes, the infamous former CEO of Theranos, is making a determined bid to overturn her 11-year prison sentence for defrauding investors. Holmes’ legal team is set to argue her appeal before a California court on Tuesday, challenging several decisions made during her 2022 trial. Holmes, currently serving her sentence in a minimum-security facility in…
Apple is gearing up for one of its most significant events in recent years at the upcoming Worldwide Developers Conference (WWDC). The company is expected to announce a partnership with OpenAI, the creator of ChatGPT, and introduce new generative AI tools for its mobile operating system. The anticipated AI integration could drive iPhone sales and…
Next week, Tesla shareholders will cast their votes on whether CEO Elon Musk deserves a massive compensation package previously struck down by a judge, and whether the company should relocate its state of incorporation from Delaware to Texas. Five months ago, a Delaware judge nullified the $50 billion pay package granted to Musk by Tesla’s…
Elliott Investment Management has acquired a $1.9 billion stake in Southwest Airlines, urging significant leadership changes at the Dallas-based carrier. Announcing their position on Monday, Elliott criticized Southwest’s current leadership for poor execution and an outdated strategy that has resulted in disappointing outcomes for shareholders, employees, and customers. “Southwest’s poor execution and leadership’s stubborn unwillingness…
Adults and teenagers aiming to cut back on their screen time are increasingly swapping their smartphones for simpler, “dumb” models. The ability to track daily screen time on smartphones can lead to an uncomfortable realization: a once-useful tool has turned into an obsession. This is a sentiment echoed by 16-year-old Luke Martin from Canada, who…
A US federal judge ruled on Friday that Google’s antitrust lawsuit, initiated by the US government, will be decided by a judge rather than a jury after Google paid $2.3 million to cover the lawsuit’s monetary damages. This antitrust case, focusing on Google’s advertising technology, marks the Biden administration’s first major antitrust action against a…
Stellantis has announced the recall of 211,581 SUVs and pickup trucks due to a software malfunction that could lead to the failure of their electronic stability control (ESC) systems. The issue, according to Stellantis, originates from a defective anti-lock braking system, which consequently disables the ESC system. This safety feature is crucial for maintaining steering…
Keith Gill, the investor famously known as “Roaring Kitty,” has sparked another wave of interest in meme stocks, prompting Wall Street to consider regulatory action. Gill, who previously played a significant role in the 2021 GameStop trading frenzy, disclosed in a recent Reddit post that he purchased nearly $116 million worth of GameStop stock and…
In an era where some of the world’s largest corporations are deeply invested in artificial intelligence, U.S. lawmakers are only now beginning to recognize the potential dangers posed by this rapidly advancing technology. Despite AI’s complexity and the urgent pleas from its creators to slow development, Congress has yet to pass any significant legislation to…
William Lewis, the newly appointed publisher and chief executive of The Washington Post, has been accused of attempting to suppress a story about his alleged involvement in a UK phone hacking scandal coverup. According to NPR media reporter David Folkenflik, Lewis offered him an exclusive interview in exchange for not publishing the article. The scandal,…
In the drive to advance Nigeria’s development, the chronic issue of inconsistent electricity supply remains a significant obstacle. A new documentary, “Up NEPA!”, delves into this pervasive problem, capturing the frustrations and hopes of Nigerians who grapple daily with power outages. Since its inception in 1972, the National Electric Power Authority (NEPA) has been at…
June 7, 2024 – Streaming giant Netflix is gearing up to defend against a substantial damages claim of $170 million filed by Fiona Harvey, a Scottish woman who alleges defamation stemming from the hit series “Baby Reindeer.” In a complaint lodged in the District Court for the Central District of California, Harvey seeks damages for…
June 7, 2024 – Jensen Huang, CEO of Nvidia, received a hero’s welcome in Taiwan, his birthplace, as the company soared to become America’s second most valuable entity, surpassing Apple. Huang’s visit coincided with the Computex trade show, where global tech luminaries congregated to explore Taiwan’s pivotal role in the semiconductor and artificial intelligence (AI)…
June 7, 2024 – Kia Motors Corporation has issued a warning to owners of approximately 463,000 Telluride SUVs in the United States, urging them to refrain from parking their vehicles indoors and near structures due to potential fire risks associated with the front seats. According to recall documents submitted to the National Highway Traffic Safety…
Seoul, June 7, 2024 – For the first time in its 55-year history, workers at Samsung Electronics in South Korea have gone on strike. The Nationwide Samsung Electronics Union (NSEU) announced that many of its 28,000 members participated in the one-day walkout on Friday, marking a significant moment for the tech giant. The union, which…
British tech entrepreneur Mike Lynch, founder of Autonomy, was acquitted of fraud by a jury in San Francisco on Thursday. This verdict marks a significant victory for Lynch, who has faced numerous legal challenges following the troubled $11 billion sale of his company to Hewlett-Packard (HP) in 2011. Lynch was cleared of all 15 charges,…
A new national stock exchange, based in Dallas and supported by financial giants like BlackRock and Citadel Securities, is gearing up to challenge the dominance of the New York Stock Exchange and Nasdaq. The newly established TXSE Group has announced its intention to file for registration with the US Securities and Exchange Commission (SEC) later…
Google is set to face a £13.6 billion lawsuit after a court ruled that it must answer allegations of anti-competitive behaviour in the online advertising market. The case, initiated by Ad Tech Collective Action LLP, claims that Google’s practices have unfairly disadvantaged online publishers in the UK, leading to significant financial losses. The Competition Appeal…
In a significant ruling, McDonald’s has lost its exclusive rights to the “Big Mac” trademark for chicken burgers in the European Union. The EU’s highest court determined that the fast-food giant had not demonstrated continuous use of the trademark for a period of five years, paving the way for other companies to use the name…
TikTok is currently addressing a cyber-attack that has compromised the accounts of several high-profile brands and celebrities, including Paris Hilton and CNN. The video-sharing platform, owned by the Chinese company ByteDance, confirmed to the BBC that a “very limited” number of accounts were affected. TikTok is collaborating with the impacted users to restore their account…
Premium soft drink brand Fayrouz has launched its ‘Here’s to Taste’ campaign, featuring former beauty queen and reality TV star, Beauty Tukura. This initiative celebrates Fayrouz’s refreshed look and its new Apple-Watermelon flavour. Beauty Tukura, known for winning the Miss Nigeria crown and her appearance on Big Brother Naija, has transitioned into entrepreneurship and philanthropy….
Dollar Tree announced on Wednesday that it is considering selling or spinning off its Family Dollar chain, nearly a decade after acquiring the brand in a merger that has faced numerous challenges. Family Dollar, which operates around 8,000 stores across the United States, primarily serves low-income customers in urban areas with prices ranging from $1…
The usually calm summer months for the US stock market are proving tumultuous this year, with investors pulling out at near-record rates as economic concerns mount. Traditionally, investors tend to reduce their activity during the summer, a phenomenon often encapsulated by the adage “Sell in May and go away.” However, recent market trends indicate a…
Live Nation has reported that a hacker is attempting to sell alleged user data from Ticketmaster on the dark web. The revelation came in a regulatory filing on Friday, detailing the unauthorized activity discovered on May 20. Live Nation, Ticketmaster’s parent company, immediately launched an investigation with forensic experts. According to the filing, the data…
The Federal Communications Commission (FCC) has officially announced the termination of the Affordable Connectivity Program (ACP), a federal initiative that provided internet access to millions of low-income Americans. The program’s closure on June 1, 2024, follows unsuccessful efforts to secure additional funding from Congress. Despite bipartisan popularity and support from consumer advocates, the program’s expiration…
Costco’s new chief financial officer, Gary Millerchip, has assured customers that the beloved $1.50 hot dog and soda combo will remain at its current price, despite rising inflation. Addressing recent speculation during an earnings call with analysts on Thursday, Millerchip stated, “To clear up some recent media speculation, I also want to confirm the $1.50…
Tesla is set to recall 125,227 vehicles in the United States because of a defect in the seat belt warning system, which could increase the risk of injury in the event of a collision. The National Highway Traffic Safety Administration (NHTSA) announced the recall on Friday, citing that the vehicles do not meet federal safety…
The U.S. Department of Labor has filed a lawsuit against Hyundai and two of its suppliers, accusing them of illegally employing a 13-year-old child in an Alabama assembly line for up to 60 hours a week. According to the complaint, the staffing agency Best Practice sent the underage worker to SMART Alabama, a company that…
Mondelez International has successfully resumed production of Oreo cookies in Ukraine, following extensive repairs to its plant in Trostyanets, which was severely damaged during Russia’s invasion nearly two years ago. The plant, located in a small city in eastern Ukraine, is now fully operational after a partial reopening last year for chocolate production. Mondelez announced…
McDonald’s USA President Joe Erlinger recently clarified misconceptions about the company’s pricing, responding to viral claims that their menu prices have surged disproportionately. In an open letter posted on McDonald’s website on Wednesday, Erlinger countered reports suggesting that the chain’s prices have dramatically increased. He emphasized, “The average price of a Big Mac in the…
Manchester City has initiated legal proceedings against the Premier League, seeking to overturn the Associated Party Transaction (ATP) rules that govern commercial and sponsorship deals linked to club owners. The Times revealed that City is challenging the legality of these regulations, which require independent assessment of transactions to ensure they reflect fair market value. According…
Adidas has launched a new commercial as part of its ongoing campaign to alleviate negative pressure in sports, just in time for a busy summer of soccer. Released today, May 30, the campaign is strategically timed with major tournaments, including Euro 2024 and the Copa America. The 90-second feature opens with a dynamic black-and-white montage…
Starting next Tuesday, buying or selling stocks on Wall Street is about to become quicker with a new settlement cycle standard. The current “T+2” cycle, where transactions settle in two business days, will shift to a “T+1” cycle, reducing the settlement period to just one business day. This significant change, effective May 28, aims to…
Subway has announced the much-anticipated return of its oversized footlong chocolate chip cookie, which had been absent from the menu for the past four months. The beloved cookie, part of Subway’s new Sidekick lineup, was originally introduced in January but was quickly pulled from most restaurants due to overwhelming demand. The footlong cookie’s comeback is…
The Central Bank of Nigeria (CBN) has announced the immediate revocation of Heritage Bank Plc’s banking license due to its ongoing financial instability and inability to recover despite regulatory interventions. The decision, disclosed by the CBN’s Acting Director of Corporate Communication, Sidi Ali, on Monday, was taken to protect the financial system and maintain public…
Apple’s iPhone sales in China are experiencing a resurgence after the company implemented aggressive price cuts in its largest overseas market to attract budget-conscious consumers amid a sluggish economy. According to data from the China Academy of Information and Communications Technology (CAICT), foreign-branded cell phone shipments in China, predominantly iPhones, surged by 52% in April,…
WhatsApp CEO Will Cathcart has publicly disputed allegations made by Elon Musk that the messaging app “exports your user data every night.” Cathcart took to X (formerly Twitter) to assert that Musk’s claims are “not correct,” emphasizing that WhatsApp messages are end-to-end encrypted and cannot be read by the company. Cathcart’s defence was supported by…
A recent study indicates that despite the significant hype surrounding artificial intelligence (AI) products like ChatGPT, regular usage remains low. The research, conducted by the Reuters Institute and Oxford University, surveyed 12,000 individuals across six countries, including the UK, and found that only 2% of British respondents use these tools daily. However, younger demographics are…
D’USSÉ Cognac, a contemporary take on the classic spirit, proudly announces its new collaboration with DJ Obi’s renowned nightlife platform, Obi’s House. Known for transforming the nightlife scene in Nigeria with its Monday night parties, Obi’s House is celebrated as the biggest weekday party in the country. This partnership signifies a key step in D’USSÉ’s…
Arthur Grand Technologies, a Virginia-based IT services firm, has been fined $38,500 for a job advertisement that specified only white, US-born applicants. The US Department of Justice announced the penalty, stating the ad violated federal civil rights and labour laws. The controversial job posting, made in March 2023 by a recruiter in India working for…
As the European Union’s new Entry/Exit System (EES) approaches its October launch, major UK border points are ramping up preparations to avoid potential chaos. The EES will require non-EU nationals, including Britons, to register their biometric data the first time they cross into the EU, sparking fears of long delays for travellers. To mitigate these…
In 2016, a severe drought hit Kozhikode, India, drastically limiting residents’ access to water. Among those affected was student Swapnil Shrivastav, who experienced firsthand the challenges of water scarcity, relying on just two buckets of water per day. This tough period fueled his interest in finding solutions to water shortages, inspired in part by a…
Porsche has introduced the first hybrid version of its iconic 911 sports car, signalling a significant shift towards incorporating electric motors even in high-performance vehicles. This move comes as hybrids gain traction among consumers, especially in the United States, where hybrid sales are growing faster than those of purely electric vehicles. The new hybrid 911…
Ryan Salame, the former co-CEO of FTX’s Bahamian subsidiary, was sentenced to 90 months in prison on Tuesday. This decision comes after Salame pleaded guilty in September to making unlawful campaign donations totalling tens of millions of dollars to support causes favoured by Sam Bankman-Fried, FTX’s founder. Salame’s sentencing follows the earlier conviction of Bankman-Fried,…
Melinda French Gates, renowned philanthropist and co-founder of the Bill & Melinda Gates Foundation, has revealed her motivations for resigning from the foundation and detailed her future philanthropic plans. In light of the US Supreme Court’s 2022 Dobbs decision, which allowed states to set their own abortion laws, French Gates felt compelled to shift her…
In response to recent internal turmoil, OpenAI has announced the formation of a new committee tasked with advising the company’s board on safety and security measures related to artificial intelligence (AI) development. Led by CEO Sam Altman, board chair Bret Taylor, and board member Nicole Seligman, the committee aims to address concerns raised by employees…
Apple is poised to revolutionize its iPhone lineup with generative AI, potentially transforming Siri into an advanced assistant capable of performing intricate tasks and learning user preferences. At the upcoming Worldwide Developers Conference in June, Apple is expected to unveil its first set of AI tools for iOS, developed in partnership with ChatGPT creator OpenAI….
Pepsi, a prominent sponsor of the 10th Africa Magic Viewers’ Choice Awards (AMVCA), once again brought its musical prowess to the forefront, seamlessly blending nostalgia with contemporary vibes at the prestigious event held at the EKO Hotel Convention Centre in Lagos on Saturday. Celebrating a decade of African cinematic excellence, Pepsi’s involvement aligned perfectly with…
