(Brands & Consumers)
Aliko Dangote, Chairman of Dangote Group, has attributed Nigeria’s ongoing fuel scarcity to retailers’ inaction, asserting that over 500 million litres of refined fuel remain uncollected in his refinery’s storage. Despite the refinery’s capacity to produce over 30 million litres daily, Dangote says distributors are failing to collect and deliver the fuel to the market….
Apple has launched its new suite of artificial intelligence tools, known as Apple Intelligence, for iPhones. The AI features, announced earlier in June, began rolling out to users on Monday but are exclusive to the latest devices, including all iPhone 16 models and the iPhone 15 Pro and Pro Max. This limited release highlights Apple’s…
McDonald’s has resumed sales of its Quarter Pounder burgers across the United States, following confirmation that its beef patties were not linked to a recent E. coli outbreak that led to at least one death and sickened dozens. Tests conducted by the Colorado Department of Agriculture (CDA) cleared McDonald’s beef patties of contamination, allowing the…
Lagos Fashion Week 2024 showcased the best of Nigerian innovation and style, with Heineken taking centre stage through the launch of its stylish 45cl bottle and the exclusive Heineken 45 Collection. The dual unveiling reflects Heineken’s commitment to shaping culture beyond drinks, blending premium taste with a distinctively Nigerian flair. The new 45cl bottle, designed…
Three of America’s iconic brands – Starbucks, Nike, and Boeing – are grappling with significant challenges as they aim to restore their standing in their respective markets. With new CEOs in charge, each company is confronting unique obstacles to rekindle the brand loyalty and strength they once commanded. Starbucks’ Brewing CrisisStarbucks’ latest earnings report, released…
Delta Air Lines has filed a lawsuit against cybersecurity firm CrowdStrike in Georgia’s Fulton County Superior Court, seeking damages exceeding $500 million. The suit follows a software update from CrowdStrike in July that Delta claims triggered a mass outage, leading to widespread flight cancellations that affected the travel plans of 1.3 million passengers and disrupted…
In a landmark case for tech regulation, British entrepreneurs Shivaun and Adam Raff took on Google over practices they say destroyed their price comparison site, Foundem. The couple’s legal crusade culminated in a €2.4 billion (£2bn) fine levied on Google in 2017, with the European Court of Justice upholding the ruling last month. The Raffs…
Bitcoin’s price has surged to a six-month peak, surpassing $73,500 in the final week before the U.S. presidential election. This latest rise marks Bitcoin’s highest value since April and reflects a 6% gain as of Tuesday, October 29, at 3 p.m. EDT. According to Forbes, the cryptocurrency’s value has jumped by 13% throughout October, outpacing…
A federal jury in Delaware awarded Apple $250 in damages after finding that Masimo, a health-monitoring tech firm, infringed on two of Apple’s design patents with its W1 and Freedom smartwatches. Apple argued that Masimo’s smartwatch models, along with their chargers, intentionally copied its patented designs, and the jury sided with Apple on this claim….
In a landmark settlement, mining giants BHP and Vale have agreed to pay nearly $30 billion in compensation to the Brazilian government for the 2015 Mariana dam collapse, a tragedy that stands as Brazil’s worst environmental disaster. Brazilian President Luis Inacio Lula da Silva presided over the signing of the settlement on Friday, emphasizing the…
Guinness Nigeria Plc, a prominent player in the Total Beverage Alcohol market, reported a 111% revenue surge in its unaudited financial results for the quarter ending September 30, 2024. This substantial growth, fueled by innovative product offerings, stronger consumer engagement, and an expanded retail network, saw revenue rise from N59.5 billion to N125.9 billion year-on-year….
Infinix, a tech brand known for its youthful appeal and cutting-edge devices, has named rising African music sensation Ayra Starr as the ambassador for its HOT Series. The partnership, announced on Thursday, highlights Infinix’s dedication to connecting with a bold, creative young audience, aligning perfectly with Ayra Starr’s vibrant energy and fearless approach to music…
Moniepoint, a fast-growing Nigerian fintech startup, has secured $110 million in Series C funding, with backing from a Google-affiliated African investment fund and Development Partners International LLP. The fresh capital injection aims to fuel Moniepoint’s plans for cross-border remittances and entry into French-speaking African markets, according to the company’s founder and CEO, Tosin Eniolorunda. Moniepoint…
Adidas and Kanye West, now known as Ye, have reached an out-of-court settlement, officially ending a prolonged legal standoff that began after the sportswear giant severed ties with the rapper over antisemitic remarks he made in 2022. The announcement marks the conclusion of lawsuits spanning nearly two years. The former partnership, which produced the widely…
Microsoft’s CEO, Satya Nadella, received a $79.1 million compensation package for the past fiscal year, marking a 63% increase from the previous year, despite his personal request for a reduction due to cybersecurity incidents. The pay package includes a substantial $71.2 million in stock options, with a reduced cash component of $5.2 million—over half of…
The US government has secured a $100 million settlement from the owners of the container ship Dali after a tragic collision with Baltimore’s Francis Scott Key Bridge led to the deaths of six construction workers and caused widespread damage. Grace Ocean Private Limited and Synergy Marine Private Limited, the companies responsible for the Dali, agreed…
Apple and Goldman Sachs have been ordered to pay a combined $89 million in penalties by the U.S. Consumer Financial Protection Bureau (CFPB) due to mishandling issues related to the Apple Card. The companies were found to have mishandled customer disputes and credit reports, leading to financial harm for many users. As a result, Goldman…
A radio station in Poland has ignited a national debate after replacing its human journalists with AI-generated “presenters” in a move aimed at attracting younger audiences. OFF Radio Krakow, based in the southern city of Krakow, recently relaunched with virtual characters powered by artificial intelligence, marking what it calls “the first experiment in Poland where…
A Colorado man has filed the first lawsuit against McDonald’s following an E. coli outbreak connected to the fast-food chain’s Quarter Pounder, which has so far resulted in 49 reported cases of illness across 10 states and one death. The lawsuit was filed shortly after the US Centers for Disease Control and Prevention (CDC) issued…
Starbucks’ new CEO, Brian Niccol, has vowed to simplify the company’s “overly complex” menu in a bid to attract customers and boost falling sales. Niccol announced the coffee giant will review its pricing strategy as part of a broader effort to address sluggish performance, particularly in key markets like China, where sales dropped 14% between…
The battle for dominance in India’s satellite broadband market has intensified as two of the world’s wealthiest men, Elon Musk and Mukesh Ambani, prepare to face off. The competition between Musk’s Starlink and Ambani’s Reliance Jio comes in the wake of India’s decision to allocate satellite spectrum for broadband administratively rather than through an auction,…
Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), has dropped a money laundering case against Tigran Gambaryan, a senior cryptocurrency executive at Binance, to allow him to seek medical treatment abroad. Gambaryan, a U.S. citizen, was arrested during a business trip to Nigeria in February and was later charged alongside Binance, the world’s…
Alcon Entertainment, the production company behind Blade Runner 2049, has filed a lawsuit against Tesla, Elon Musk, and Warner Bros Discovery, alleging unauthorized use of imagery from the film during Tesla’s recent robotaxi launch event. The lawsuit asserts that Alcon explicitly denied a request from Warner Bros to incorporate material from Blade Runner 2049 at…
Starting November 1, 2024, Air Peace will raise the cost of a one-way flight ticket from Lagos to Abuja to N200,000, marking a significant fare increase in Nigeria’s domestic aviation market. The decision comes as airlines grapple with the ongoing economic challenges affecting the aviation sector, prompting many to adjust their prices. Passengers have expressed…
A solar mini-grid initiative, spearheaded by the Global Energy Alliance for People and Planet (GEAPP) with support from the Rockefeller Foundation and the Bezos Earth Fund, aims to address Nigeria’s persistent power supply issues, as reported by Bloomberg. This project seeks to provide a sustainable energy solution for the country, which struggles with erratic electricity…
Starlink, the satellite internet service led by billionaire Elon Musk, has reversed its recent price increase in Nigeria, responding to widespread customer criticism. The company also announced it will issue refunds to those charged at the higher rate. The initial price hike drew significant backlash from Nigerian users, who argued the increase added to their…
ByteDance, the parent company of TikTok, has dismissed an intern for allegedly sabotaging the training of one of its artificial intelligence (AI) models. The company acknowledged the intern’s interference but disputed claims about the scale of the impact, calling reports on the matter “exaggerated and inaccurate.” The incident came to light after social media reports…
Dangote Refinery has filed a legal case at the Federal High Court in Abuja, challenging the import licences granted to the Nigerian National Petroleum Company Limited (NNPCL), Matrix Petroleum Services Limited, A. A. Rano, and others. The refinery is seeking the annulment of these licences, claiming that they were issued despite its capacity to meet…
India’s aviation sector is grappling with an unprecedented rise in hoax bomb threats, causing widespread flight disruptions, diversions, and delays. These false alarms have created significant setbacks for airlines, passengers, and airport operations. In one recent incident, an Air India flight from Mumbai to Chicago was diverted to Iqaluit, a remote Canadian city, after a…
Netflix has started raising its subscription prices in several countries as the surge in growth from its password-sharing crackdown begins to ease. Over the past month, the streaming giant has increased fees in Japan, parts of Europe, the Middle East, and Africa, with changes now being introduced in Italy and Spain. In its latest quarterly…
The U.S. National Highway Traffic Safety Administration (NHTSA) has launched a formal investigation into Tesla’s self-driving software systems, potentially leading to a recall of the electric carmaker’s vehicles. The probe, announced on Friday, affects 2.4 million Tesla vehicles produced between 2016 and 2024 across various models. The NHTSA’s evaluation stems from four reported crashes involving…
The Nigerian Customs Service (NCS) has announced a remarkable revenue milestone, generating N4.2 trillion in the first nine months of 2024. This achievement, revealed by the Comptroller General of Customs, Bashir Adeniyi, during a workshop in Lagos, reflects significant growth in the service’s operations compared to previous years. Represented by the Comptroller of the Tincan…
Three of the world’s leading tobacco firms are close to finalizing a multibillion-dollar settlement in Canada, potentially bringing an end to a long-running legal battle over the health risks of smoking. Philip Morris, British American Tobacco, and Japan Tobacco are set to pay C$32.5 billion (£18 billion; $23.6 billion) to Canadian smokers and health departments…
Online fashion retailer Boohoo is considering a significant overhaul that could lead to the break-up of the company, as it struggles to regain its footing in an increasingly competitive market. The British fashion firm, known for its portfolio of brands including Debenhams, Karen Millen, and PrettyLittleThing, has initiated a strategic review of its operations, citing…
Planet Bottling Company, in collaboration with Monarch Beverage, has launched the “Explore Your Freedom” campaign for its popular beverage brand, American Cola, in Nigeria. The campaign seeks to inspire and celebrate the creativity and individuality of Nigerian youth, encouraging them to chart their own paths and embrace their passions. The “Explore Your Freedom” campaign captures…
Legendary rapper Method Man has expressed his frustration with unauthorized remixes circulating on YouTube, calling out creators who alter original tracks without permission. In a now-deleted Instagram post, the Wu-Tang Clan member specifically criticized a remix of his song “Built for This,” originally from the soundtrack of The Man With the Iron Fists, a film…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has reportedly dismissed several employees for violating its meal voucher policy. Workers allegedly used the vouchers, intended for meals, to purchase non-food items such as toothpaste and washing powder, according to sources who claim to be current or former Meta employees. The company provides staff with…
Nigerian business magnate Aliko Dangote has solidified his position as the richest man in Africa and climbed to 65th place on the global wealth rankings, with an estimated net worth of $28 billion. The latest figures, published by Bloomberg in its Top 500 Billionaires Index, reflect a significant increase in Dangote’s wealth, primarily due to…
A rare 237-year-old copy of the US Constitution has been sold for $9 million at an auction, following its discovery in an old filing cabinet in North Carolina. The historic document, printed in 1787 after the Constitutional Convention, was uncovered in 2022 at a former plantation once owned by Samuel Johnston, a former North Carolina…
Despite being free to use for nearly three billion people worldwide, WhatsApp employs a series of strategies to generate substantial revenue. Owned by tech giant Meta, WhatsApp primarily makes money by offering services to businesses rather than charging individual users. WhatsApp provides a platform for businesses to communicate directly with consumers. Since 2022, firms have…
The Delta State Police Command has issued a strict warning to Point of Sale (POS) operators, cautioning them against processing transactions exceeding N500,000, due to the risk of being linked to criminal activities, particularly kidnapping. Speaking on Thursday, the Command’s Public Relations Officer, SP Bright Edafe, emphasized that engaging in large transactions could make operators…
Instagram has rolled out new safety features designed to curb sextortion, a rising form of online exploitation where scammers trick users, often teens, into sharing intimate images before blackmailing them. As part of its efforts, Instagram will now prevent users from taking screenshots or screen recordings of “view once” images and videos, adding a layer…
A company, which remains unnamed, has fallen victim to a significant data breach after unknowingly hiring a North Korean cybercriminal as a remote IT contractor. The cyber attacker, who faked their identity and employment credentials, gained access to the firm’s sensitive systems, ultimately leading to a data theft incident and ransom demand. The hack was…
The Oil Spill Victims Vanguard (OSPIVV) has raised serious allegations against Shell Trading and Shipping Company Limited (STATSCO) and its partners for allegedly diverting a $1 billion insurance indemnity meant for communities affected by the 2011 Bonga Oil Spill in Nigeria’s Niger Delta. Harrison Jalla, Executive Director of OSPIVV, filed a lawsuit, marked FHC/WR/CS/19/2022, accusing…
An international wine fraud ring has been dismantled by French and Italian police, who arrested six individuals, including a suspected Russian ringleader, for selling counterfeit vintage wines. The operation targeted wine traders around the globe, offering fake bottles purportedly worth as much as €15,000 (£12,500) each, according to French prosecutors. The criminal group allegedly created…
Nigerian singer Waje, renowned for her powerful vocals and hit songs, recently shared her journey toward financial security and independence during an interview with Channels News. Alongside her daughter, Emerald, the duo discussed their experiences with building financial stability and the significance of the #HerMoneyHerPower campaign, which advocates for women’s economic empowerment. Waje, who has…
Google has entered into a groundbreaking agreement with nuclear technology company Kairos Power to use small nuclear reactors to meet the growing energy demands of its artificial intelligence (AI) data centres. The move marks a significant shift as tech giants seek reliable and clean energy sources to support their expanding operations. The deal, which will…
A Canadian bubble tea company, Bobba, has issued a public apology after actor Simu Liu raised concerns about cultural appropriation during their pitch on the popular CBC show Dragons’ Den. The Quebec-based bubble tea brand, owned by Sébastien Fiset and Jess Frenette, presented their product on the show, claiming to “disrupt” the traditional bubble tea…
The city of Prague is set to ban organised night-time pub crawls as part of a new initiative aimed at reducing disruptive behaviour by tourists and encouraging a more refined visitor experience. This decision, targeting travel agencies that cater to foreign tourists, especially those attending stag and hen parties, will take effect between 10 p.m….
7-Eleven, the popular convenience store chain, announced that it will be closing 444 underperforming locations across North America. The decision comes in response to several factors, including declining foot traffic, reduced cigarette sales, inflationary pressures, and shifting consumer habits. The closures, which will affect roughly 3% of the chain’s 13,000 stores across the U.S., Canada,…
