(Brands & Consumers)
In July 2024, companies under the Dangote Group experienced a significant drop in market capitalization, shedding approximately N1.21 trillion. The decline affected Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries, amid ongoing challenges faced by the Dangote Refinery. During the month, the share prices of Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries…
The U.S. Justice Department has filed a lawsuit against TikTok and its parent company, ByteDance, accusing them of unlawfully collecting personal data from children and failing to adhere to privacy protections outlined in the Children’s Online Privacy Protection Act (COPPA). The lawsuit, filed on Friday, claims that TikTok has allowed children under 13 to join…
The Federal Government has dismissed rumours that WhatsApp is considering halting its services in Nigeria, calling the reports a tactic by the company to sway public opinion amidst a legal dispute. The controversy arose after the Federal Competition and Consumer Protection Commission (FCCPC) fined WhatsApp $220 million (over ₦300 billion) for allegedly violating data privacy…
Chevron has announced plans to move its headquarters from San Ramon, California, to Houston, Texas, marking the first time in over a century that the energy giant will not be headquartered in California. The transition is set to begin with Chevron Chairman and CEO Mike Wirth and Vice Chairman Mark Nelson relocating to Houston by…
In a recent legal move, former CNN anchor Don Lemon has filed a lawsuit against Elon Musk and X, accusing them of cancelling a planned talk show partnership. The lawsuit, filed Thursday in San Francisco, claims that Musk and X misled Lemon into investing substantial amounts of money for the show, only to back out…
In the picturesque highlands of Chiapas, Mexico, around 150 coffee farmers on the Edelmann family farm labor under the shade of tree canopies, battling extreme weather conditions exacerbated by climate change. Despite their efforts, this year’s harvest has been compromised by an extended dry season, leading to lower yields and rising production costs. Tomas Edelmann,…
The Japanese government has issued a directive to Toyota Motor Corporation, requiring “drastic reforms” following the discovery of new violations in the company’s vehicle certification procedures. The Ministry of Transport’s corrective order came after on-site inspections revealed intentional misconduct and irregularities in the certification processes of seven additional models that were previously undisclosed. Toyota confirmed…
A Tesla Model S was reportedly in “Full Self-Driving” (FSD) mode when it struck and killed a 28-year-old motorcyclist near Seattle in April. According to police, the 56-year-old driver was allegedly looking at his cell phone at the time of the incident and has been arrested on suspicion of vehicular homicide. Tesla’s FSD software, which…
Boeing has appointed Robert “Kelly” Ortberg as its new CEO, effective August 8, following a reported core operating loss of $1.4 billion in the second quarter. This loss, more than triple that of the same period last year, highlights the company’s ongoing struggles with aircraft safety and production issues, which have hindered profitability. Ortberg, former…
OpenAI has unveiled an advanced voice mode for ChatGPT, offering a more lifelike and interactive experience for users. The new feature, available initially to a select group of subscribers on the “Plus” plan, allows the AI to engage in real-time conversations, respond naturally to interruptions, and even reflect emotional cues based on a speaker’s tone….
Starbucks is facing a drop in sales as customers appear to be resisting the high costs of its popular iced coffees and lemonades. The coffee giant reported a 3% decrease in global sales at stores open for at least a year, with a 2% decline in North America. The number of transactions at these stores…
Air New Zealand has become the first major airline to retract a 2030 emissions reduction target, citing difficulties in acquiring more fuel-efficient aircraft and sustainable jet fuel. The airline had aimed for a significant 29% cut in carbon emissions by 2030, surpassing the global aviation industry’s 5% target for the same period. The airline’s CEO,…
Google’s recent advertisement, aired during the Olympics, intended to showcase the capabilities of its AI chatbot Gemini, has sparked widespread criticism. The ad features a father explaining his young daughter’s admiration for Olympic track star Sydney McLaughlin-Levrone and her aspirations to follow in her hero’s footsteps. Using Google’s AI, the father generates a letter from…
Veteran sports commentator Bob Ballard was dismissed from Eurosport on Monday following controversial remarks made about the Australian women’s swim team. The incident occurred during the broadcast of the 4×100 meter freestyle relay at the Paris Olympics, where Team Australia secured a gold medal. As the Australian swimmers celebrated their victory, Ballard commented on their…
McDonald’s is grappling with declining sales as inflation pushes budget-conscious Americans to seek cheaper dining alternatives. The fast-food giant reported a 0.7% drop in sales at U.S. locations open for at least a year in the latest quarter, with fewer customers visiting their restaurants. This trend mirrors a broader industry downturn, affecting competitors like Starbucks,…
“Deadpool & Wolverine” has made a historic debut, surpassing the $200 million mark in its opening weekend and setting a new record for the highest-grossing opening for an R-rated film. According to studio estimates, the 34th film in the Marvel Cinematic Universe (MCU) earned $205 million domestically and $438.3 million globally in its first weekend….
Apple has reached a tentative labour agreement with the union representing retail workers at its Towson, Maryland store, marking the first US labour deal for any of the tech giant’s American employees. The workers at the Towson Apple store voted to join the International Association of Machinists union in June 2022 and have since been…
Women often find themselves paying significantly more than men for haircuts, sparking debates over whether this is justified or an example of the so-called “pink tax,” where products and services targeted at women cost more than those for men. Data shows the disparity in prices is real. According to Square, a payment systems provider, the…
“Inside the NBA” host Charles Barkley has voiced strong disapproval of the NBA’s decision to reject a matching offer from TNT’s parent company, Warner Bros. Discovery (WBD), in favor of a $1.8 billion per year deal with Amazon. Barkley accused the NBA of prioritizing profit over fans, lamenting the end of TNT’s decades-long relationship with…
In a significant recall, Toyota has announced that it will replace the engines in nearly 100,000 Tundra pickups and around 3,500 Lexus luxury SUVs due to a defect that could cause engine power loss while driving. The recall, which was initially announced in early June, affects the 2022 and 2023 model year Toyota Tundras and…
Southwest Airlines, a pioneer in the low-fare, no-frills airline model, announced on Thursday that it will end its five-decade-long tradition of open-seat boarding, transitioning to assigned seating. This significant change marks a departure from the airline’s distinct and successful model that has been a cornerstone of its brand identity. Southwest revealed that the decision to…
SAN FRANCISCO, CA – OpenAI has announced its most direct competition yet with Big Tech giants: a new search engine leveraging advanced artificial intelligence. Dubbed SearchGPT, this innovative tool aims to revolutionize online search by integrating AI from the outset. The company unveiled SearchGPT on Thursday, revealing that it combines AI technology with real-time web…
NEW YORK, NY – Warner Bros. Discovery (WBD) has initiated legal action against the NBA after the league dismissed its matching offer for broadcasting rights, thereby ending a four-decade-long partnership. The lawsuit, filed Thursday under seal in New York County Supreme Court, follows the NBA’s decision to reject WBD’s $1.8 billion per year bid, favouring…
BURBANK, CA – Warner Bros. Discovery and Disney have launched a new streaming bundle combining Disney+, Hulu, and Max at a significant discount. This collaboration aims to strengthen their positions in the competitive streaming market. The bundle, available to new and returning subscribers, offers a choice of $16.99 per month with ads or $29.99 per…
The National Basketball Association (NBA) and Warner Bros. Discovery (WBD), the parent company of TNT, are on a collision course toward a legal battle over broadcasting rights, setting the stage for a high-stakes conflict in the sports media industry. On Wednesday, the NBA rejected WBD’s attempt to match Amazon’s $1.8 billion annual offer for broadcasting…
The U.S. Department of Justice has finalized a plea agreement with Boeing, marking a significant development in the company’s ongoing legal troubles. Under the terms of the deal, Boeing will plead guilty to a felony charge of defrauding the U.S. government and will pay a minimum fine of $243.6 million. This new settlement follows a…
Southwest Airlines is making a historic shift in its seating policy, moving away from its long-standing open seating arrangement to a new assigned seating system. This change, which marks the first time in the airline’s history, aims to address customer feedback and enhance revenue opportunities by allowing for premium seat pricing. Additionally, Southwest will introduce…
The Bankers’ Committee is nearing the completion of an ambitious renovation project that promises to restore the National Theatre in Iganmu, Lagos, to its former glory. Announcing the progress during a media event on Tuesday, committee members showcased the significant upgrades made to the iconic structure. The renovation, which began in July 2021, followed approval…
Infinix is making waves in the gaming world with its Infinix GT 20 Pro, showcased prominently on a massive billboard in New York’s Times Square. This strategic move marks the company’s official entry as a major player in the 2024 PUBG Mobile World Cup (PMWC), following a successful partnership with top players from the PUBG…
Tesla’s stock took a significant hit on Wednesday, plummeting 12% after the company reported a dramatic drop in second-quarter profits. The electric vehicle (EV) giant faced a more than 40% decrease in profit compared to the same period last year, as competition in the EV market intensified and overall sales growth slowed. This decline marks…
Italian financial authorities have seized €121 million from Amazon’s Milan branch following accusations of tax fraud and worker exploitation. The investigation, led by the Milan prosecutor’s office, uncovered an alleged illegal subcontracting scheme, according to the state-run ANSA news agency. The probe centers on the use of “labour reservoirs,” a practice where large companies allegedly…
PlayStation enthusiasts have reason to celebrate as Sony has added a beloved 2007 classic to both PlayStation 4 and PlayStation 5. This move is part of Sony’s ongoing effort to bring back cherished titles to its newer consoles, and this month’s addition is particularly exciting for fans. Originally released on the PSP and later ported…
Reebok has partnered with luxury golf apparel brand Whim Golf to launch a new iteration of the Classic Leather sneaker, marking the latest development in their collaboration. The Whim Golf x Reebok Classic Leather sneaker, retailing at $130, will first be available exclusively through Whim Golf on July 25. It will then see a broader…
E-commerce giant Overstock.com is making a comeback just a year after its new owners rebranded it as Bed Bath & Beyond. The relaunched Overstock.com will continue to sell a wide range of products, including indoor and outdoor furniture, home improvement tools, and jewelry, with a renewed focus on closeout and liquidation deals. Meanwhile, its sister…
Kim Beom-su, the billionaire founder of South Korean tech giant Kakao Corp, was arrested on Tuesday over allegations of manipulating stocks during the acquisition of a K-Pop agency last year. The arrest marks a significant legal development for Kakao, which runs South Korea’s largest chat app and has faced legal challenges related to the same…
Warner Bros. Discovery (WBD) has informed the NBA that it will match Amazon’s $1.8 billion annual offer to retain broadcast rights for a package of league games. In a statement on Monday, TNT Sports, owned by WBD, confirmed the submission of matching paperwork to the NBA, emphasizing its eagerness to continue its long-standing relationship with…
Cybercriminals are capitalizing on the recent global tech outage caused by CrowdStrike’s faulty software update by launching fake websites loaded with malicious software, targeting those seeking solutions to the crisis. The U.S. government and cybersecurity professionals have issued warnings about these deceptive sites designed to steal information or compromise devices. These fraudulent websites use domain…
McDonald’s has announced that its widely successful “$5 Meal Deal” will remain on menus at nearly all of its U.S. locations through August. This extension comes in response to the promotion’s popularity among customers dealing with increasing food prices. Initially launched in late June for a limited one-month run, the $5 Meal Deal includes a…
The International Center for Strategic Alliances (ICSA) is thrilled to announce the 18th Edition of the Connected Banking Summit – Innovation & Excellence Awards – West Africa 2024. This prestigious event will be held in Accra, Ghana, on November 19-20, 2024, and promises two days of insightful discussions, groundbreaking innovations, and exceptional networking opportunities. Transforming…
A lock of Florence Nightingale’s hair has sold for £3,606 at an auction in North Yorkshire, surpassing its expected value of £2,000 to £3,000. The hair, confirmed to belong to the 19th-century nursing pioneer, was sold along with her signature on a piece of clipped paper. The items, auctioned by Tennants Auctioneers in Leyburn, had…
Netflix has announced that it will begin phasing out its Basic plan, the cheapest ad-free subscription option, in the United States. Priced at $11.99 per month, the Basic plan will no longer be available for new sign-ups, as the company encourages users to switch to its ad-supported plan at $6.99 per month. Existing Basic plan…
American Airlines’ 28,000 flight attendants have reached a tentative labour agreement with the airline, according to an announcement from their union on Friday. The Association of Professional Flight Attendants (APFA), representing the flight attendants, stated that the agreement addresses key issues including compensation, work rules, and retroactive pay. Specific details of the agreement were not…
Adidas has withdrawn supermodel Bella Hadid from an advertising campaign for retro shoes following criticism from Israel. The German sportswear giant had chosen Hadid, who is half-Palestinian, to promote its SL72 trainers, initially launched to coincide with the 1972 Munich Olympics. This decision sparked controversy due to the historical significance of the 1972 Munich Games,…
Disneyland employees are raising their voices over inadequate wages, with some resorting to living in cars and motels. Cynthia “Cyn” Carranza, an overnight custodian at Disneyland, recounted her experiences of living in her car with two dogs due to her $20.65 per hour wage not covering Southern California’s high rent costs. Ms. Carranza tearfully shared…
In Wuhan, China, residents can travel six miles in a driverless taxi for a mere 50 cents, thanks to the rapid rise of Robotaxi services. This new transportation trend, driven by tech giant Baidu’s Apollo Go, aims to make Wuhan the world’s first driverless city, even though the vehicles often struggle with basic navigation. A…
Bud Light, once the leading beer in the United States, has now slipped to third place in the market following a challenging year marked by a significant boycott. According to data from NIQ shared by Beer Marketer Insights, Michelob Ultra, also brewed by Anheuser-Busch, has overtaken Bud Light to become the second-best selling beer in…
Ferrari has launched a new initiative asking its owners and fans to help identify and report counterfeit products, from cars to merchandise, in an effort to maintain the authenticity and value of the brand. Classic Ferraris are among the most valuable cars globally, sometimes fetching tens of millions of dollars. This high value has attracted…
The Nigerian federal government has announced plans to temporarily suspend the N10 tax on sweetened sugar beverages as part of its economic stabilization efforts. Minister of Finance Wale Edun made the announcement during a meeting with the National Action on Sugar Reduction (NASR). Edun explained that this measure is designed to help beverage companies cope…
A former analyst at Goldman Sachs and Blackstone, Anthony Viggiano, has been sentenced to 28 months in prison for his involvement in an insider trading scheme described as “catastrophically stupid.” U.S. District Judge Valerie Caproni in Manhattan handed down the sentence on Wednesday, following Viggiano’s guilty plea in January to securities fraud. The 27-year-old from…
The Nasdaq Composite index experienced its sharpest downturn since December 2022 as tech stocks faced significant selling pressure, marking a stark contrast to the Dow’s continued rise to record highs. On Wednesday, the Nasdaq plummeted by 2.8%, reflecting investor retreat from major tech giants that had driven Wall Street’s impressive rally earlier this year. Concurrently,…
