Select a category

Minister of Youth Development, Dr Jamila Ibrahim, has appealed to youths to shun the proposed nationwide protest against hardship in the country.

Speaking in Abuja, Ibrahim said that the country needed peace and stability to achieve its mandate, adding that the current hardship is not peculiar to Nigeria.

Ibrahim advised the young people not to engage in any activity that would not be law-abiding.

According to her, “Government is already addressing these issues. The economic hardships that we are facing today is not limited to Nigeria.

Since COVID-19 struck, the global economy has not quite recovered.”

Continue reading on Instablog

50-year-old Ghanaian gospel singer, Diana Asamoah has vowed to stay single until she receives an approval from God.

Speaking during a cooking show by Empress Gifty, the evangelist who has never been married and has no child, revealed that despite being approached for marriage by several men, including pastors, she remains resolute in her decision to await heavenly approval before tying the knot.

“I have met a lot of men, including men of God. While some of them came with genuine intentions, others were fake. Until I get an approval from God, I will never marry any of them.

I will get married and have children at God’s appointed time,” she said.

Continue reading on Instablog

McDonald's reports earnings before markets open Monday amid reports that the fast food giant is planning to extend the $5 value meal promotion it launched last month into August.

Analysts expect McDonald's revenue to rise slightly to $6.63 billion from $6.5 billion in the second quarter of 2023, according to estimates compiled by Visible Alpha, while net income is projected to fall to $2.24 billion from $2.31 billion last year.

UBS analysts, who maintained a "buy" rating while lowering their price target for McDonald's to $305 from $335, said that second-quarter earnings could be pressured by inflation. However, the analysts said McDonald's performance could improve in the second half of the year as the chain's emphasis on value brings customers back into stores.

Comparable-store sales have slowed in recent quarters for McDonald's from double-digit increases last year. Executives have noted the impact inflation has had on many customers. In the second quarter of 2023, McDonald's reported 11.7% comparable sales growth globally, and just over 10% in the U.S.

Baird analysts said that they are "gaining confidence" that the company's emphasis on value in its newest advertising efforts could improve the chain's perception of value among consumers, bringing them back into McDonald's locations.

"History would suggest McDonald's can gain significant share when emphasizing value-oriented price points with its sizable advertising budget," the analysts said.

After spending much of the first half of 2024 acknowledging the impact inflation was having on sales as customers pulled back on discretionary spending, McDonald's and several other restaurants have rolled out lower-cost value meals with the hopes of winning back price-conscious customers,

Early indications appear to be positive, as and reported earlier this week that nearly all McDonald's locations have agreed to extend the promotion beyond the initial schedule of four weeks from its late-June start.

The promotion appears likely to extend into August as company leadership is reportedly enthusiastic about the rate at which customers are returning to McDonald's locations. Investors could be looking for confirmation on the promotion's future on Monday.

McDonald's shares have fallen about 15% since the start of the year, at $251.46 as of Thursday's close.

Read more on Investopedia

Microsoft-backed (MSFT) OpenAI unveiled a new artificial intelligence (AI) search engine called SearchGPT on Thursday that could rival Alphabet's (GOOGL) Google Search.

The ChatGPT maker said it's testing a temporary prototype of the tool with a small group of users to start.

"We’re testing SearchGPT, a prototype of new search features designed to combine the strength of our AI models with information from the web to give you fast and timely answers with clear and relevant sources," OpenAI said in a release.

The company highlighted that SearchGPT is designed to provide clear sourcing of the information it gives, which could help ease concerns about the accuracy of results and driving traffic away from original content.

The long-awaited OpenAI search tool could also potentially draw users away from Google Search, negatively affecting Alphabet.

Shares of Alphabet were 1.4% lower at $170.20 in intraday trading Thursday following the news.

Read more on Investopedia

Bitcoin (BTC) dipped below $64,000 early Thursday before recovering to trade slightly above $65,000. Ether (ETH) prices fell more than 7% as investors continued to pull money of of Grayscale's Ethereum Trust (ETHE).

After a strong Day 1 with $106.6 million of net inflows overall, spot ether ETFs on Wednesday experienced their first day of net outflows thanks to the $326.9 million that left the preexisting Grayscale product. This brings cumulative two-day outflows for Grayscale's ETHE to $811 million.

These outflows from the Grayscale fund are expected to continue over the near term, as investors switch to cheaper ETF offerings or simply leave the market.

In total, outflows for spot ether ETFs were $133.3 million on Wednesday, according to Farside Investors. The Fidelity Ethereum Fund (FETH) had the strongest day among the spot ether ETFs, with $74.5 million of inflows.

On the bitcoin side of the spot crypto ETF market, there were $44.5 million in inflows Wednesday, according to Farside Investors.

Crypto asset manager Hashdex took another step toward the eventual launch of its proposed Hashdex Nasdaq Crypto Index US ETF with the filing of its S-1 registration form with the U.S. Securities and Exchange Commission (SEC). The proposed ETF would start with combined holdings of spot bitcoin and ether, in addition to potentially adding other crypto assets as they gain regulatory approval over time.

Shares of bitcoin miner Marathon Digital Holdings (MARA) rose Thursday after it announced a $100 million bitcoin purchase. The company not only added to the stash of bitcoin on its books, it also committed to revert to its previous policy of "full HODL," a crypto term for "hold on for dear life," with all the bitcoin it mines going forward.

Read more on Investopedia

After a monthslong process rife with twists and turns, the NBA on Wednesday announced the winners of its new 11-year media rights deal, reportedly worth $77 billion: The Walt Disney Co.'s (DIS) ABC and ESPN; Comcast (CMCSA) unit NBCUniversal's NBC—which is regaining rights its last held in 2002—and Peacock streaming service; and Amazon's (AMZN) Prime Video.

The news was the latest development in the ongoing evolution of the live-sports landscape in the streaming era. It left Warner Bros. Discovery (WBD), whose TNT Sports unit has held NBA rights since the late 1980s, on the outside looking in.

WBD had a contractual right to match Amazon's reported bid of $1.8 billion a year and did so, but the NBA accepted the tech giant's offer instead. "We have matched the Amazon offer, as we have a contractual right to do, and do not believe the NBA can reject it," TNT Sports said Wednesday, adding it "will take appropriate action."

Beginning with the 2025-26 season and running through the 2035-36 campaign, the media and tech giants will telecast about 75 regular-season games on broadcast TV each season, up from the minimum of 15 games under the current agreement, which expires after next season. All national games will be available on streaming services: Prime Video, Peacock, and ESPN's future direct-to-consumer service. The rights deal also includes WNBA games, worth a reported $2.2 billion of the total.

"Our new global media agreements with Disney, NBCUniversal and Amazon will maximize the reach and accessibility of NBA games for fans in the United States and around the world," NBA Commissioner Adam Silver said. "These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade."

"Warner Bros. Discovery’s most recent proposal did not match the terms of Amazon Prime Video's offer and, therefore, we have entered into a long-term arrangement with Amazon," the NBA said.

At the moment, it appears as though the forthcoming 2024-25 NBA season with be TNT's last, meaning it will be the end for its beloved, award-winning "Inside the NBA" show, which features host Ernie Johnson and analysts Charles Barkley, Shaquille O'Neal, and Kenny Smith. The 61-year-old Barkley last month said he would retire after next season.

Read more on Investopedia