Select a category
Instablog9ja
23 m
12
TG Omori has told Portable and others sh@ding Nigerian celebrities for not donating money to him that the Industry and friends have been solidly behind him months before it all came public.
He said all he needed was your prayers, moral support and love and this he is grateful to have gotten in abundance.
The industry and friends have been solidly behind me months before it all came public. Please ignore the clout d£sperate d@gs.
Click to watch
Investopedia
2 hrs
9
:max_bytes(150000):strip_icc()/GettyImages-1480647977-9bdd09e600a449f0817a40c7642683d2.jpg)
After the Supreme Court's most recent decision, not much has changed for Saving for a Valuable Education (SAVE) plan borrowers.
On Wednesday, the Supreme Court denied the Department of Education's appeal to lift the block on their income-driven repayment plan. The block will remain in place until a case about the program's legality is decided.
The Supreme Court's decision doesn't help borrowers who have been in limbo since the program was first challenged in July—they are still in forbearance and will not be required to make payments until the cases are resolved.
"We are disappointed in this decision, particularly because lifting the injunction would have allowed for lower payments and other benefits for borrowers across the country," said a spokesperson from the Department of Education Friday. "The Department will work to minimize further harm and disruption to borrowers as we await a final decision."
Student loan borrower advocates called the tumultuous court case unfair.
"This is ludicrous. Millions of people were repaying their student loans. Now they are in limbo," said Mike Pierce, executive director of the Student Borrower Protection Center, in a statement.
The SAVE plan was rolled out in July 2023 and was designed to replace the REPAYE plan.
Like its predecessor, SAVE is an income-driven repayment plan in which borrowers would pay 10% of their discretionary income each month and receive forgiveness for any remaining loan balance after 20 years (25 years for graduate school loans).
Where the plans differ is that discretionary income was calculated differently, creating lower payments for borrowers. Under SAVE, borrowers' loan balances would also not increase because of interest.
However, the plan has been contested in lawsuits since early July.
Because discretionary income was calculated differently, nearly 4.5 million borrowers were making progress toward forgiveness without paying anything each month.
In mid-July, the Eight Circuit Appeals Court ruled in favor of a coalition of Republican-led states that sued the government to stop the plan. The lawsuit argued the Department of Education was not legally authorized to implement that plan without congressional approval because that forgiveness would come at such a high cost to the federal government.
Much of the fighting in court thus far has focused on whether or not the plan can continue while the two sides argue the case. Because the back-and-forth was creating chaos for borrowers, the Department of Education put all borrowers enrolled in the plan into forbearance.
Earlier this month, the Biden Administration filed an emergency appeal to the Supreme Court requesting the judges to lift the temporary ban on the plan while the case was being decided. The court did not approve the appeal and the case will move forward in the appeals court while the block is maintained.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Lululemon Has A 'Newness' Problem It Says It Will Fix
Shoppers Visited Lululemon's (LULU)...
Investopedia
4 hrs
9
:max_bytes(150000):strip_icc()/GettyImages-2168086494-404f853921914bfeb78db7a9b4d1e3d5.jpg)
Shoppers visited Lululemon's (LULU) stores and website in the second quarter. When they got there, though, they didn’t see enough new stuff to buy.
That’s according to executives at the apparel company, which on Thursday reported second-quarter financial results that included a 3% drop in U.S. comparable-store sales and 1% growth in U.S. revenue.
Executives call the phenomenon “newness,” and it particularly affected women who hoped for more seasonal updates to “color, print, patterns and silhouettes” in some product categories, CEO Calvin McDonald said on a conference call with analysts, a transcript of which was provided by AlphaSense.
“It's become clear to us that this reduced newness, which is below our historical level, and stems from earlier product decisions, has impacted conversion rates, given the fewer new options available to our female guests,” McDonald said. “The newness that we had performed well. We simply did not have enough to inspire her to purchase.”
McDonald said the company is working to refresh its lineup “as quickly as possible,” citing as examples leggings, shorts and tracksuits. The missed opportunity, he said, came as shoppers continued to visit Lululemon channels but didn’t find what they wanted. “They were there with intent to spend,” he said.
“We are optimistic that we will begin to see the benefits of these strategies over the upcoming quarters and return to our historical levels of newness no later than spring 2025,” he said.
Shares of Lululemon were down about 1% in early afternoon trading after rising as much as 4% in the opening minutes of Friday's session.
The stock has had a rough year, losing nearly half its value.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Instablog9ja
7 hrs
9
Influencer Daniel Regha has reacted to Chidimma Adetshina’s Miss Universe Nigeria 2024 victory.
He said honestly speaking, it just feels too predictable and so wrong that Chidimma who became a contestant last minute is being crowned the winner of Miss Universe Nigeria 2024. Other contestants didn’t really stand a chance the moment she entered the competition and that’s the truth.
Click to watch
Instablog9ja
8 hrs
14
Former governor of Jigawa State, Sule Lamido, has described President Bola Tinubu as a very daring and self-made man, who owes his emergence to nobody, including his predecessor, Muhammadu Buhari.
He said, “Prior to the convention, he (Tinubu) was in Abeokuta, Ogun State, where he boasted that it was his turn to rule Nigeria. And Buhari, very naive, was watching. He never liked Tinubu. There was somebody he wanted.
He didn’t even trust his own vice president, Professor (Yemi) Osinbajo; he wanted Ahmed Lawan, but his calculation was absurd. You have done eight years for the North and you wanted another Northerner for another eight years?! No. Maybe later but there are some dynamics which you can’t alter, not in Nigeria of today.
The president of Nigeria, after being in office for eight years, lacked the courage to push through his anointed choice. He was there at the convention and Tinubu that he never liked, he never believed in emerged. Tinubu knows that his victory wasn’t from Buhari, therefore, he owes him nothing.
He wasn’t the choice of Afenifere, Obasanjo never liked him, but he became president. All the other groups, including the governors, were there but he won. He was determined to demolish all obstacles and he crushed them.
We are working hard, but it is a huge task. It is going to be difficult with Tinubu, with his hold on the country, on the economy, and his audacity to say this is where I stand against Nigeria’s interest. It is something else. Tinubu is very daring; he is his own creation, he is a self-made man, right from Chicago, what he went through on the streets. Look at how he was able to fight the Alliance for Democracy and Afenifere and then Obasanjo. At the APC convention, Buhari was against him but he defeated Buhari. What are you talking about?
Don’t underestimate a man like that. Look at how he made it in life. He confronted all obstacles to get to where he is today, at the apex. There is no Nigerian like Tinubu who has been there on his own. Every established political arrangement, every institution, he demolished them. Now that he is in charge, he is not going to be easy to deal with. With Tinubu, Nigeria is a fiefdom, Tinubu is the emperor. And if you watch him closely, he doesn’t care.”
Investopedia
9 hrs
10
:max_bytes(150000):strip_icc()/GettyImages-2164264998-acfe9a5ac2bf492eb829ad724778a51f.jpg)
The Dow, S&P 500, and Nasdaq were little changed at midday Friday after fresh data showed inflation continued to cool in July, as expected.
Intel (INTC) was the best-performing stock in the S&P 500 following a report the chipmaker is considering strategic options which could include a sale or spinoff of its foundry division.
Shares of Marvell Technology (MRVL) jumped after the networking circuits maker reported better-than-expected sales as it benefited from soaring demand for artificial intelligence (AI).
Alibaba Group (BABA) shares traded in the U.S. rose as Chinese regulators said the e-commerce firm completed a three-year “rectification” related to charges it engaged in monopolistic practices.
Ulta Beauty (ULTA) shares dropped after the maker of beauty products missed earnings and revenue estimates, had a surprise drop in comparable store sales, and cut its outlook as consumers pulled back discretionary spending and the company faced more competition.
Elastic N.V. (ESTC) shares cratered as the AI search and data company slashed its guidance, warning that it expects fewer customer commitments.
Oil and gold futures fell. The yield on the 10-year Treasury note was up slightly. The U.S. dollar advanced on the euro, pound, and yen. Prices for most major cryptocurrencies dropped.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
