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Intel (INTC) shares tumbled over 8% in intraday trading Tuesday amid worries the chipmaker could be in danger of losing its status as a member of the Dow Jones Industrial Average.

The company was one of the first tech companies to join the 30-stock index in 1999, but last month's disappointing second-quarter earnings results sent shares to their lowest level since 2013. The stock is the worst-performing constituent of the DJIA this year, with shares down nearly 60% from the start of 2024.

The DJIA is a price-weighted index that tracks 30 large, publicly-owned companies trading on the New York Stock Exchange and the Nasdaq. Intel is the lowest-weighted component of the index, making up just 0.3% of the DJIA as of last last week. 

The last time DJIA membership changed was in February, when Walgreens Boots Alliance (WBA) was replaced by Amazon (AMZN).

A spokesperson for S&P Dow Jones Indices declined to comment on Intel’s status.

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Huntington Bank (HBAN) has acquired the naming rights to the stadium where the Cleveland Browns are set to kick off their NFL season against the Dallas Cowboys on Sunday.

The Browns, who are in a debate with the city over whether their next stadium will remain in Cleveland or be built in a suburb, will now play at "Huntington Bank Field" for the next 20 years, the bank and team announced Tuesday.

The move comes amid months of controversy between the team and city over whether the Browns' next stadium will remain on the coast of Lake Erie, with the team releasing renderings of a potential stadium with a roof in the suburb of Brook Park earlier this month.

Browns owner Jimmy Haslam said Tuesday that updates about the stadium plans would be coming soon, reported. Tuesday's announcement also referenced the uncertainty, as Huntington Bank Chief Executive Officer (CEO) Steve Steinour said the Columbus, Ohio-based bank is excited to partner with the team "whether in the existing stadium or a new one."

The bank will also be the Browns' official banking partner, and the sides said they would work together to "launch new and dynamic ways to strengthen communities and neighborhoods" across the region.

The venue, located near the Rock & Roll Hall of Fame, was known as "Cleveland Browns Stadium" when it opened in 1999 until 2013, when it changed its name to "FirstEnergy Stadium." It reverted back to its original name last year following a bribery scandal involving the utility company.

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The Nigeria Police Force has placed a N20m bounty on a British national, Andrew Wynne, also known as Andrew Povich, and a Nigerian, Lucky Obiyan.

The duo were declared wanted for allegedly plotting to overthrow the President Bola Tinubu-led government.

In a Special Police Gazette Bulletin, the police announced a reward of N10 million each for anyone who provides information that leads to the arrest of the suspects.

“If seen, arrest and hand over to the nearest Police Station, or the office of the Deputy Inspector-General of Police, Department of Force Intelligence, Force Headquarters, Abuja, or call 08035179870, 09133333785, 09133333786.

A reward sum of N10,000,000 awaits any person(s) with information leading to the arrest of each of them,” it reads.

#Instablog9jaNews #Information #Awareness #StayUpdated

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Barbie has a new accessory: donuts.

Krispy Kreme (DNUT) is teaming up with Mattel's (MAT) Barbie for the toy’s 65th anniversary. Starting today, customers can buy a Barbie x Krispy Kreme donut box, which includes a signature Barbie Pink Doughnut with pink sugar and sunglasses sprinkles, Some fans can win Barbie Fashionista dolls with accessories including a Krispy Kreme paper hat.

It's the latest partnership announced by the donut company, which last month teamed with Dr Pepper to create a lineup of doughnuts to mark the beginning of the college football season.

The news comes as quick-service food companies are looking for ways to get customers buying and attract attention to their brands. Another recent tactic is a widespread shift toward value offerings: Dunkin recently unveiled its fall menu, offering a pumpkin-spice latte and a pumpkin doughnut but also a new "$6 Meal Deal" that includes a medium coffee, hash browns, and a bacon, egg, and cheese sandwich. 

Krispy Kreme has itself joined the pumpkin-spice parade, announcing pumpkin donuts in mid-August. Earlier this year, it said its donuts would be sold at McDonald's (MCD) locations.

Shares of Krispy Kreme were up more than 1% in recent trading.

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The South African Consulate in Abuja has denied players of the Nigerian U-18 boys’ basketball team visas to participate in the  2024 FIBA U18 Afrobasket tournament.

The tournament is scheduled to take place in Cape Town from December 14 to 22.

Confirming the development to newsmen, the Nigerian Basketball Federation (NBBF) frowned at the sudden denial of visas, which they claimed was done without explanation.

The Vice Chairman of the Youth Development Committee of the Nigeria Basketball Federation, Ugo Udezue, described South Africa’s actions as total sabotage.

“First of all, it’s rather unfortunate that an African country needs a visa to travel to another African country. Secondly, this is against the spirit of sportsmanship. These kids have sacrificed too much for a visa consular officer to deny them the opportunity to represent Nigeria globally.

The act of refusing the team visas seems like a deliberate attempt to stop the Junior D’Tigers, as the South African Embassy in Lagos cleared the girls to travel, and they are already in Pretoria and set for their opening match against Egypt on Tuesday,” Udezue said. #Instablog9jaNews #Information #Awareness #StayUpdated

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German automotive giant Volkswagen (VWAGY) is considering significant cost-cutting measures to restructure amid an "extremely tense" economic situation as it faces increasing international competition and pressure on profits as it transitions to producing more electric vehicles.

Volkswagen Group CEO Oliver Blume said in a statement that the company is facing a "very demanding and serious situation" in Europe's automotive market, meaning the company must "act decisively" to remain competitive.

The company said the Performance Program it launched last year, with a stated goal of creating 10 billion euros ($11 billion) in savings by 2026, is no longer enough to meet the "enormous challenges" it faces.

The company behind a number of car brands from its namesake Volkswagen to luxury names like Audi, Lamborghini, and Porsche is considering ending a decades-old job security pact with German employees as it works to resolve an "extremely tense" economic situation.

"The goal must be to optimise product costs, material costs, and sales performance, as well as factory and labour costs," the company said. "In the current situation, even plant closures at vehicle production and component sites can no longer be ruled out without swift countermeasures. The situation is extremely tense and cannot be resolved through simple cost-cutting measures."

Unions and trade groups have spoken out against the statement, with the union representing the company's German workers saying it would be prepared to fight any job cuts, the reported.

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