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A 49-year-old Nigerian man, Dirichukwu Patrick Nweke, has been arrested in connection with an alleged $9 million dr¥g operation running out of Villawood Immigration Detention Centre in Sydney, Australia.

Nweke, who was awaiting deportation at the centre, and another man were accused of dealing large amounts of methylamphetamine using an encrypted messaging service.

NWS Police in a statement on Saturday, July 27, 2024, said they stormed Villawood Detention Centre, where they allegedly found two kilograms of meth worth $165,000 hidden inside porridge boxes. They also found three mobile phones during a search of a unit at the centre on July 11.

Nweke has been charged with multiple offences including directing a criminal group and supplying a large commercial quantity of prohibited dr¥gs, DailyMail reports.

Two kilograms of methylamphetamine and $169,000 in cash linked to the syndicate were previously seized by officers, police said on Saturday.

On Wednesday, detectives uncovered 750 grams of methylamphetamine and 90 grams of heroin in a toilet bowl during a search of a home in Liverpool.

It’s alleged the find was evidence of ‘an attempt to dispose of the drugs’, while heroin was also found on the bathroom floor and $325,000 cash and an encrypted electronic device were also recovered.

Police also arrested a 24-year-old man they allege was a runner for the man in detention. He’s been charged with two counts of supplying a prohibited dr¥g, participating in a criminal group and other offences.

Both men were refused bail following brief appearances in court.

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Starbucks (SBUX) reports fiscal third-quarter earnings after the bell Tuesday, with analysts expecting a quarterly performance roughly in line with the same quarter a year ago.

The results are due not long after reported that activist investor Elliott Investment Management has taken a stake in the coffee giant.

Analysts expect Starbucks to report $1.05 billion in net income, or 93 cents per share, on total revenue of $9.22 billion, compared with profits of $1.14 billion, or 99 cents per share, on $9.17 billion in revenue last year, according to estimates compiled by Visible Alpha.

Same-store sales declined in Starbucks' second-quarter earnings. That result contributed to the stock's worst day of the year so far, with the shares falling nearly 16%.

Chief Executive Officer (CEO) Laxman Narasimhan said in the second-quarter earnings call that customers had been "more exacting" about how they spent their money as inflation slowed discretionary spending.

Like other foodservice giants hoping to bring customers back to their stores, including McDonald's (MCD) and Wendy's (WEN), Starbucks has made the call to lower prices with a "Pairings Menu" it launched last month.

Starbucks also lowered its full-year guidance in the second-quarter report, projecting same-store sales in a range of a low-single-digit decline to flat, down from a prior range predicting growth of 4% to 6%.

Shares of Starbucks received a boost late last week after reported Elliott Investment Management had bought up a "sizable stake" in Starbucks, and was engaging with the company on plans to boost its stock.

Baird analysts said the news could help the stock in the short term as the firm is likely to push for changes. Elliott has a history of activist investing, most notably in recent months with Southwest Airlines (LUV).

"The presence of an activist investor likely will fuel optimism among investors that activism could push [Starbucks] to pursue changes in strategic/organizational direction if the current approach does not yield better shareholder value," the analysts wrote.

Starbucks shares have lost over one-fifth of their value so far this year, at $74.05 as of Friday's close.

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Media personality, Noble Igwe has berated a fashion designer who charged him a sum of N4.2 million to acquire a suit.

According to him, the only thing that should be worth such a huge outlay should be a plate of pounded yam, while he also condemned the mindset of people who believe it is wrong to question the price tag of luxury items.

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