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Instablog9ja
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14
The Federal Government has suspended the officers in charge of the Maximum and Minimum Custodial Centres, Kirikiri, Lagos State, following an audio leak indicating that cross dresser, Idris Okuneye aka Bobrisky who was convicted of a crime and sentenced to six months in jail was given an apartment outside the custodial centre.
Secretary of the Civil Defence, Correctional, Fire and Immigration Services Board, CDCFIB, Ja’afaru Ahmed disclosed this in a statement issued on Thursday in Abuja.
The Minister of Interior, Dr Olubunmi Tunji-Ojo had on Wednesday initiated a probe of the allegations.
In the statement Ahmed said the suspension of the officers is to allow for further investigation on the various allegations, upholding that the result would be made available to the public.
He said, “Following the viral video trending on social media on alleged infractions by Officers of the Nigerian Correctional Service relating to Mr. Idris Okuneye, widely known as Bobrisky, the Civil Defence, Correctional, Fire and Immigration Services Board has suspended forthwith the following Senior Officers of the Service. Michael Anugwa, Deputy Controller of Corrections (DCC), In-Charge of Medium Security Custodial Centre (MSCC), Kiri-kiri, Lagos State; and Sikiru Adekunle, Deputy Controller of Corrections (DCC), In-Charge of Maximum-Security Custodial Centre (MSCC), Kiri-kiri, Lagos State.”
Micron's Post-Earnings Pop Leads Other Chip Stocks Higher
Micron Technology (MU) Shares Surge...
Investopedia
59 m
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Micron Technology (MU) shares surged Thursday after the memory chip maker's revenue and outlook blew past expectations, leading Nvidia (NVDA) and other semiconductor stocks higher.
Shares of Micron were up over 12% in intraday trading, while shares of partner Nvidia (NVDA) also gained before reversing course. Advanced Micro Devices (AMD), Broadcom (AVGO), and Taiwan Semiconductor Manufacturing Company (TSM) rose as well, boosting the tech-heavy Nasdaq.
Nvidia, Micron, and other chip companies have seen their revenue and stock prices climb amid a boom in demand for infrastructure to support artificial intelligence (AI).
Micron CEO Sanjay Mehrotra said Wednesday the company's fiscal fourth-quarter sales nearly doubled from a year ago to $7.75 billion, driven by "robust AI demand."
Mehrotra also said the company's sales are expected to continue growing, projecting current-quarter revenue could reach a record high between $8.5 billion to $8.9 billion.
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Instablog9ja
2 hrs
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Bobrisky has declared that God will vindicate him from those trying to frame him.
He added that he is ready for any investigation, but not in the same EFCC office where he was detained. He demanded an independent and open investigation for the world to see. He is not the maker of the audio and didn’t publish it. He’ll see you all in court.
Improved Retail Sales Lift CarMax's Results—and Its Stock
CarMax (KMX) Shares Drove Higher Th...
Investopedia
2 hrs
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CarMax (KMX) shares drove higher Thursday after the biggest U.S. used car retailer posted better-than-anticipated results on higher retail vehicle sales.
The company reported fiscal 2025 second-quarter earnings per share (EPS) of $0.85, $0.02 more than the estimate by analysts surveyed by Visible Alpha. Although revenue slipped 0.9% year-over-year to $7.01 billion, that also exceeded forecasts.
Retail used unit sales increased 5.1% to 211,020, while wholesale vehicle sales declined 0.3% to 141,458. Comparable store unit sales gained 4.3%.
Gross profit per retail unit was $2,269 and $975 per wholesale unit. Both were in line with last year's second quarter.
The company bought 300,000 vehicles in the period, a 2.9% increase, driven by a 61.4% jump in purchases from dealers. Purchases from consumers dropped 1.2%.
Chief Executive Officer (CEO) Bill Nash explained that CarMax was pleased with the "continued improvement of the business" while managing through "industry-wide auto loan loss pressure."
CarMax shares advanced about 6% in late-morning trading Thursday to move into positive territory for 2024.
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Instablog9ja
3 hrs
9
Activist Aisha Yesufu has lamentec the document that was requested from her when she applied for a South African visa.
She said South Africa is asking her for the de@th certificate of her father in law because her applied for visa.
Investopedia
3 hrs
12
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Something weird is happening in the labor market: employers are pulling back on hiring, unemployment has been rising, yet new jobless claims are on a downward trend.Last week, 218,000 people filed new unemployment claims, down from 222,000 the week before, the Department of Labor said Thursday. That was the lowest level since May and fewer than the 223,000 claims forecasters had expected, according to a survey of economists by and .
Claims have stayed low and even declined as other labor market indicators have weakened. The unemployment rate has risen to levels not seen since 2021, and employers have reduced job openings to below pre-pandemic levels.
Assessing the strength of the job market has taken on new importance in recent months as officials at the Federal Reserve move to cut interest rates to boost the economy and prevent a severe spike in unemployment.
Signs of rising unemployment could pressure the Fed to cut its influential rate faster and further in the coming months, lowering borrowing costs to encourage spending. But such signs are nowhere to be found looking at unemployment claims, which have stayed at low levels by historical standards.
High interest rates on all kinds of loans—the result of the Fed’s campaign of anti-inflation rate hikes since 2022—have indeed put employers under financial pressure, so it’s up for debate why a long-predicted wave of layoffs has yet to materialize.
Economists proposed several explanations for why jobless claims are staying low.
Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics, said technical factors related to the way the bureau adjusts for seasonal layoff patterns were keeping claims artificially low. On top of that, a mild hurricane season has resulted in fewer weather-related layoffs than usual.Another possible explanation is that employers are weathering the storm and holding on to their workers so they won’t be caught short-staffed when interest rates fall and business picks up again.
”Employers are holding fast on keeping employees, preferring to cut hours to reduce labor costs, if needed,” Robert Frick, corporate economist at Navy Federal Credit Union, wrote in a commentary earlier this month.
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