Internet Fr@ud: EFCC Harvests 20 Suspended Yahoo Boys In Abuja
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The Operatives of the Economic and Financial Crime Commission (EFCC) has harvested 20 suspended yahoo boys in Abuja.

EFCC on Tuesday, May 21, 2024 arrested 20 suspected internet fr@udsters in the Federal Capital Territory, (FCT), Abuja.

The suspects were arrested in the early hours of the day at the Lugbe axis of the FCT following credible intelligence about their suspected involvement in online criminal activities.

Items recovered from them include a car, laptops and phones. They will be charged to court upon conclusion of investigation.



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Lowe's Earnings Top Estimates Despite Pullback On Big-Ticket Spending
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Lowe's (LOW) reported first-quarter earnings and revenue that beat analysts' estimates, despite declining from the year-ago period amid a pullback in home-improvement spending. Shares rose in early trading Tuesday following the release before turning lower later in the session.

Lowe's reported first-quarter sales of $21.36 billion, about 4.4% below last year's $22.35 billion, but more than the $21.12 billion analysts projected, according to estimates compiled by Visible Alpha.

Profits fell more than 20% compared to the first quarter of 2023, with Lowe's posting $1.76 billion in net income, compared to $2.26 billion in the same period last year, but still better than the $1.68 billion analysts expected. Earnings per share at $3.06 fell from $3.77 last year, but came in above the $2.93 analysts projected.

Sales have fallen in recent quarters for Lowe's and rival Home Depot (HD) amid a slowdown in spending on do-it-yourself (DIY) projects and big-ticket items as inflation weighs on many consumers.

The company said growth in its digital sales and market share among professional contractors, an area in which Home Depot is also looking to expand, helped partially offset the continued decline in DIY big-ticket spending.

In Tuesday's earnings report, Lowe's affirmed its outlook for the full fiscal year, projecting comparable store sales to decline by 2% to 3% for the year. The company said it anticipates revenue to come in from $84 billion to $85 billion, in line with the $84.25 billion analysts projected, and a decrease from the $86.38 billion in revenue that Lowe's generated in fiscal 2023.

Lowe's said it expects diluted earnings per share (EPS) within a range of $12 to $12.30, with analysts expecting around $12.18, down from last year's $13.20.

Lowe's shares gave up early gains and were 2.7% lower at $223.05 as of 2:20 p.m. ET Tuesday following the company's earnings report.

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Be Patient, There’s No Magic Wand To Tackl£ Inflation — CBN Gov Cardoso Tells Nigerians
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The Governor of Central Bank of Nigeria, Olayemi Cardoso, has urged Nigerians to be patient as the fi¥ht against the current inflation in country will take time.

Addressing journalists at the end of the Monetary Policy Committee, MPC, meeting in Abuja, he said despite pressure from food inflation, the general inflation rate was “moderating”, adding that “the tools the Central Bank is using are working”.

“I have said it several times and I will say again, there is no magic wand. These are things that need to take their time.

I am pleased and confident that we are beginning to get some relief and in another couple of months we will see the more positive outcomes from the Central Bank have been doing.

The committee thus reiterated several challenges confronting the effective moderation of food inflation to include rising costs of transportation of farm produce, infrastructure-related constraints along the line of distribution network, security challenges in some food producing areas, and exchange rate pass-through to domestic prices for imported food items.

The MPC urged that more be done to address the security of farming communities to guarantee improved food production in these areas.

Members further observed the recent volatility in the foreign exchange market, attributing this to seasonal demand, a reflection of the interplay between demand and supply in a freely functioning market system,” he said.

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5 Companies Owned By Whirlpool
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Whirlpool Corp. (WHR) is a leading home appliance company that sells products under a wide variety of brands such as Whirlpool, KitchenAid, Maytag, Amana, Jenn-Air, and Consul. The company's roots go back to 1908, when Lou Upton first sold electric washing machines to Sears.

Three years later in 1911, Upton and his uncle Emory obtained funding to begin making a patented, electric motor-driven wringer washer. The new enterprise, Upton Machine Co., was born, and grew rapidly. Three decades later in 1950, the name was changed to Whirlpool Corp.

Whirlpool posted $488 million in net earnings on revenue of $19.46 billion in 2023. As of May 2024, its market cap is $4.91 billion. The company's growth would not be possible without many subsidiary brands. Throughout its history, Whirlpool has made acquisitions to expand its product line from washing machines to all types of appliances. Whirlpool's acquisitions have also allowed it to expand into a variety of new domestic and foreign markets, in some instances raising antitrust concerns.

Below, we take a closer look at several of the top acquisitions in Whirlpool's history. Note that Whirlpool does not provide revenue and profit figures by subsidiary.

One of Whirlpool's earliest efforts to expand its product offerings and reach took place in 1955 involving a major merger of 3 companies. Whirlpool merged with the Seeger Refrigerator Co., enhancing Whirlpool's product line to include refrigerators.

As a part of the deal, Whirlpool also acquired the air conditioning and stove businesses of R.C.A. Corp. The combined companies had assets of $130 million at the time of the merger. The merger was a key early development for Whirlpool because it helped to position the company as a provider of a wide range of appliances beyond its traditional washer offerings.

In August 2005, Whirlpool agreed to pay $1.7 billion to acquire its rival, the Maytag Corp. The aggregate value of the deal, including about $900 million in Maytag debt, was $2.6 billion. Whirlpool reimbursed another bidder's $40 million breakup fee due to Whirlpool's pursuit of Maytag.

Maytag, founded in 1893 in Iowa, had grown into a premier home appliance maker. Through the Maytag deal, Whirlpool became the immediate owner of successful brands such as Jenn-Air, the maker of microwave ovens, refrigerators, dishwashers, and small alliances. It also became the owner of several divisions of Amana, the popular maker of home appliances.

Whirlpool's consolidation of control over the home appliance industry through the Maytag takeover was not without its critics. The acquisition was the subject of an antitrust investigation by the U.S. Department of Justice, which ultimately found that the transaction did not pose a major threat to competition.

In 1985, Whirlpool announced plans to enter into an agreement with Hobart Corp., a unit of Dart & Kraft, Inc., to acquire the appliance brand KitchenAid. Analysts estimated Whirlpool paid as much as $170 million for KitchenAid, though the price of the deal was undisclosed. Founded in 1919, KitchenAid manufactures and sells products such as ovens, refrigerators, microwaves, dishwashers, and food processors.

The acquisition was delayed for a year due to an antitrust lawsuit that proved to be unsuccessful. In 1986, Whirlpool finally acquired all operations of the company, except for the dishwasher and trash compactor operations, which it sold to Emerson Electric Co. as part of the acquisition agreement.

Whirlpool became the majority interest holder with the purchase of a 51% stake in China's Hefei Rongshida Sanyo Electric Company Ltd. in October 2014. Hefei Sanyo is a leading home appliance maker based on the mainland. At the time of the purchase, Whirlpool was struggling to grow sales in Asia.

With the acquisition of Hefei Sanyo, Whirlpool expanded its reach beyond larger urban areas and into the previously-untapped rural Chinese market. Hefei Sanyo was renamed Whirlpool China Co. Ltd. as part of the deal.

In 2014, for approximately $1 billion, Whirlpool acquired a 60.4% controlling stake in the Italian appliance maker Indesit Co. Indesit was founded in 1975 and is known for its washing machines, freezers, and ovens. The deal was completed in cash and debt and took place just a year after Whirlpool made a similar purchase of a majority stake in China's Hefei Sanyo.

The purchase expanded Whirlpool's presence in Europe, where its presence was far smaller than in the U.S.

As part of our effort to improve the awareness of the importance of diversity in companies, we have highlighted the transparency of Whirlpool’s commitment to diversity, inclusiveness, and social responsibility. The below chart illustrates how Whirlpool reports the diversity of its management and workforce. This shows if Whirlpool discloses data about the diversity of its board of directors, C-Suite, general management, and employees overall, across a variety of markers. We have indicated that transparency with a ✔.

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I Am Nøt A Good Person — BBN’s Doyin Says As She Fi¥hts Tooth And Nail With Online Bambialas
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BBN’s Doyin said she is nøt a good person as she fi¥hts tooth and nail with online bambialas.

She said this while reply some persons soliciting for financial assistance from her. The first was a woman who said she is a single mother and needed help. She simply told her to reach out to her baby daddy and the other person who demanded a birthday prayer from her.told the person that everyday cannot pneumonia her birthday because Jesus, who is the same yesterday, today and forever only has one birthday.

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Yahoo Boy Arrested For Allegedly Defr@uding Thai Woman Of $216,000 And N30 Million Under The Pretense Of Buying Her Tricycles
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A Yahoo boy was arrested for allegedly defr@uding Thai woman of $216,000 and N30 million under the pretense of buying her tricycles

Detectives of the State Criminal Investigative Department (SCID), Lagos State Police Command, have arrested one Chimereze Chinedu ‘m’ for defrauding a citizen of Thailand of the sum of Two Hundred and Sixteen Thousand Dollars.

Chimereze defrauded his victim under the pretense of selling 37 tricycles to her. He further expanded his fraudulent activity by forging letters of the State Criminal Investigative Department, Lagos showing that the tricycles were seized by the police and further ext ted Thirty Million Naira from the victim to purportedly secure the release of the tricycles.

The suspect was arrested on May 10, 2024 in Enugu State following weeks of diligent investigation and technical support from the INTERPOL. He is currently in detention, as investigations continue to uncover details towards identifying and apprehending his accomplices.

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