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Instablog9ja
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Muhammad Pate, the Coordinating Minister of Health and Social Welfare, says President Bola Tinubu is transforming the country’s health sector for better quality service delivery.
Mr Pate said this in Bauchi on Friday, during the groundbreaking ceremony of 10 Medserve’s oncology and diagnostic centres at the Abubakar Tafawa Balewa University Teaching Hospital.
“Mr President is very clear; he wants to transform this country. He wants to change the direction of this country, and we are fortunate that he picked health as one of those areas. In just one year, he has done what has not been done in the history of this country in the health sector,” said Mr Pate.
According to him, the president is investing so much in the health sector to ensure every Nigerian has access to quality healthcare service delivery nationwide. “He has launched many initiatives and building on what Medserve has done. We are seeing 10 major infrastructural projects with the groundbreaking that is happening. In 12 months, we will start opening them all across Nigeria. There are 6,000 centres that Nigeria Sovereign Investment Authority(NSIA) is doing, and I think the money is available, and those too would be completed within 12 to 18 months; they will be opened,” he said.
He also said Mr Tinubu had undertaken the retraining of 120,000 frontline health workers, adding that 10,000 of them had been retrained across the country, including in Bauchi.
Investopedia
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This week's economic data didn't move Federal Reserve officials to commit to a rate cut in September — at least not publicly.
A handful of central bankers have appeared publicly or spoken to the press since new inflation data showed annual price increases were the slowest since March 2021. The inflation data bolstered economists' expectations that the Fed will cut its influential fed funds rate in September and had them talking about how deep the cut could be.
Central bankers, however, did not outline specific details of how the data was influencing their rate cut decision.
The Fed has held its the fed funds rate at a record high for the past year in an attempt to discourage spending and squash inflation. Inflation has come down from its 2022 peak, and economy watchers have said it is likely time to ease the central banks' restrictive policy.
Central bankers have said they want confidence that inflation is sustainably moving toward its annual goal of 2% before cutting rates to avoid reigniting price pressures.
In public comments in Louisville, Ky. on Thursday, St. Louis Federal Reserve Bank President Alberto Musalem said inflation appeared to be on the right path, according to a report.
The time for rate cuts is “nearing," he said, but didn't specifically mention plans for September.
In an interview with the , Atlanta Fed President Raphael Bostic said he was “open” to cutting interest rates at the Fed's next committee meeting in September, echoing comments from Fed Chair Jerome Powell.
Meanwhile, Chicago Fed President Austan Goolsbee similarly kept his projections vague in an interview with suggesting the Federal Reserve may need to begin considering interest rate cuts as the labor market weakens
Philadelphia Fed President Patrick Harker made no reference to interest rates or monetary policy on Thursday when he appeared at a conference on economic data.
While market watchers may not be getting much clarity from Fed officials this week, some hints may be ahead. Powell is expected to speak next week at the Jackson Hole Economic Symposium.
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Investopedia
1 h
15
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Prominent Wall Street firms and large institutional investors bought into spot bitcoin (BTCUSD) exchange-traded funds in the second quarter, a sign of a healthy appetite for the products in the traditional financial sector.
Goldman Sachs' (GS) 13-F filing reporting a more than $400 million position in seven of the 11 spot bitcoin ETFs trading in the U.S. caught the eye of many investors and media. But it wasn't the only big firm to disclose bitcoin exposure through ETFs.
Morgan Stanley (MS) also ramped up its bitcoin ETF holdings from the prior quarter, when it held two shares each of theSimplify Bitcoin Strategy ETF (MAXI) and the Valkyrie Bitcoin and Ether Strategy ETF (BTF).
According the Wednesday filing, not only did Morgan Stanley add to those two holdings but it entered new positions in six other spot bitcoin ETFs worth roughly $189 million as of June 30. The iShares Bitcoin Trust ETF (IBIT) accounted for nearly all of that exposure.
Wells Fargo (WFC) expanded its holdings beyond the Grayscale Bitcoin Trust (GBTC) to include the Fidelity Wise Origin fund (FBTC), Invesco Galaxy bitcoin ETF (BTCO), iShares and VanEck Bitcoin Trust (HODL) funds.
It was not immediately clear whether those holdings were on behalf of clients. Morgan Stanley allowed its advisors to market bitcoin ETFs to clients earlier this month.
JPMorgan's spot bitcoin ETF holdings dwindled to a small exposure to GBTC. This is comes after the country's largest bank reported holding shares in at least three other bitcoin ETFs at the end of the first quarter. At that time, those holdings were believed to be related to the bank's role as as a market maker and for the purpose of facilitating trading, according to Swan Bitcoin Lead Analyst Sam Callahan.
Renaissance Technologies, a quant-based hedge fund, also scaled up buying bitcoin ETFs in the second quarter, more than doubling its bet on Bitwise Bitcoin ETF, and adding new positions in the Franklin Bitcoin ETF (EZBC), iShares and VanEck funds. It sold all its shares in the Fidelity and Grayscale funds, and trimmed holdings in ARK 21Shares Bitcoin ETF (ARKB) and Invesco ETFs.
Investors are increasingly looking to bet on Blackrock's iShares Bitcoin Trust ETF. More than half of Goldman's $418 million bitcoin ETF exposure, or roughly $238 million, went to that fund. It also accounted for the lion's share of Morgan Stanley's holdings of bitcoin ETFs.
Last week, London-based hedge fund giant Capula Management also disclosed ownership of more than $400 million of IBIT and the Fidelity ETF combined.
The State of Wisconsin Investment Board (SWIB), which is responsible for handling the retirement funds and investments for the state of Wisconsin, also added to its IBIT holdings in the second quarter. SWIB disclosed nearly 2.9 million shares of IBIT in its filing, up from 2.45 million disclosed at the end of the previous quarter. SWIB exited its position in the Grayscale fund.
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Instablog9ja
2 hrs
11
63-year-old man has been arrested at a car dealership for allegedly attempting to buy 2 cars worth over $150,000 with a deceased person’s identity in Tennessee, USA.
On August 10, 2024, at 12:20 p.m., officers responded to a fraid at Gossett Kia at 1900 Covington Pike. Officers were advised that a male suspect was in the business attempting to purchase two Kia Tellurides using a false Tennessee driver’s license in the name of a deceased individual. Officers took the male into custody after he completed the purchase paperwork. He had the keys to both vehicles at the time of his arrest. The vehicles were valued at $158,885.00.
William Hayes, 63, was charged with Forgery $60,000-$250,000 and Attempted Theft of Property $60,000-$250,000. His bond has been set at $50,000.00.
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Investopedia
2 hrs
14
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Major U.S. equities indexes pushed higher as positive economic news added steam to the recovery that has seen stocks bounce back from an early-August selloff.
The S&P 500 gained 1.6% on Thursday, while the Dow was up 1.4%. The Nasdaq jumped 2.3%, boosted by strength from the technology sector.
The daily gains came as a new government report showed a greater-than-expected increase in retail spending in July, demonstrating the resilience of U.S. consumers in the face of economic headwinds. Meanwhile, strong earnings results from Walmart (WMT) provided additional confirmation that consumers have not stopped shopping, even if they may be seeking discounts in response to high inflation.
Shares of Ulta Beauty (ULTA) notched the biggest daily gain of any S&P 500 stock, soaring 11.2%. A regulatory filing from Warren Buffett's Berkshire Hathaway (BRK.A) showed the legendary firm has snapped up a stake in the cosmetics retailer. Berkshire also took a position in electronics company Heico (HEI), whose shares were up 1.1% on Thursday.
After posting the heaviest losses in the S&P 500 on Monday and Wednesday, Albemarle (ALB) shares rebounded on Thursday, gaining 8.6%. The lithium producer has come under pressure as prices of the metal sputter, but Albemarle remains in a good position to benefit from an eventual recovery in the lithium market, and the stock's dividend yield of over 2% may be attractive to some investors.
Super Micro Computer (SMCI) shares added 8.6%, continuing to mount a recovery from a 20% decline suffered last week when the server manufacturer reported lower-than-expected quarterly profits and announced a 10-for-1 stock split. Following Thursday's gains, Supermicro stock has fully rebounded from the post-earnings plunge.
Paramount Global (PARA) shares jumped 7.1% following multiple reports that media executive Edgar Bronfman Jr. is set to make a bid for the entertainment giant. Bronfman's potential offer to buy Paramount and parent company National Amusements adds a new wrinkle to the story after months of negotiations with a variety of suitors for the film and TV business. Last month, Paramount agreed to the terms of a merger with production company Skydance Media after prolonged talks.
Shares of Fair Isaac Corp. (FICO), the financial analytics firm known for its credit scores, receded from an all-time high, tumbling 4.2% to log the weakest performance of any stock in the S&P 500 on Thursday. The loss followed filings with the Securities and Exchange Commission (SEC) disclosing that two key FICO executives have sold shares in the company. Investors often interpret sales by insiders as a lack of confidence in the company's upcoming performance.
MarketAxess (MKTX) shares lost 2.9% on Thursday. The operator of a digital trading platform for fixed-income securities posted mixed results in its quarterly report released last week, topping profit forecasts but missing sales estimates. Diminished trading activity of U.S. high-yield bonds and elevated expenses weighed on the firm's performance.
Telecom stocks came under pressure after the Committee on Foreign Investment in the U.S. (CFIUS) fined operator T-Mobile (TMUS) $60 million for its failure to block and disclose unauthorized access to sensitive data. The fine relates to incidents that occurred after T-Mobile, which is majority owned by Germany's Deutsche Telekom, completed its acquisition of U.S.-based Sprint Corporation. T-Mobile shares slid 1.0%, while shares of rival AT&T (T) fell 2.8%.
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Instablog9ja
3 hrs
12
To address flooding, Lagos government has demolished houses built on the canal along the System 157 – Orchid Road – Eti Osa drainage channels.
After several months of stakeholders engagements with property owners built on Systems 156 and 157 drainage path, the agreements to implement the agreed redesigned plan which were not honored/neglected by the community, the Lagos State Ministry of the Environment and Water Resources commenced removal of illegal structures built on the canal along the System 157 – Orchid Road – Eti Osa drainage channels to deflood the area.
