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JPMorgan Chase (JPM) could take over as the backer of Apple’s (AAPL) credit-card program after the tech giant and Goldman Sachs (GS) moved to part ways last year, according to .

Goldman and Apple have reportedly had discussions with a number of other banks—including Synchrony Financial (SYF), Capital One (COF) and American Express (AXP)—about taking over as the iPhone maker's banking partner.

A deal with J.P. Morgan isn't guaranteed, the Journal reported, with details including what JPMorgan would pay still being discussed. J.P. Morgan declined to comment on the report. Apple didn't immediately respond to Investopedia's request for comment.

The bank reportedly wants to pay "less than the full face value" of the estimated $17 billion of balances across Apple's millions of credit cards, and wants to make other changes to the program that Goldman previously took issue with, like billing dates, which Apple has signaled a willingness to compromise on.

The deal would build on existing partnerships between Apple and JPMorgan Chase, the country's largest bank, including discounts on Apple products for Chase customers and payments to Apple whenever a Chase customer uses one of its cards with Apple Pay, the reported.

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Social media and stores are full of products that promise perfect skin. Increasingly, these products are being marketed not just to adults but to teens and tweens. Many are benign, but some can cause skin irritation — and can be costly. And even if these products are benign, does buying them support unhealthy notions about appearance and beauty?

It's worth looking at this from a medical perspective. Spoiler alert: for the most part teens and tweens do not need specialized skin products, especially expensive ones. But let's talk about when they may make sense.

When can a specialized skin product help tweens and teens?

So, when should your child buy specialized skin products?

What about skin products for acne?

It's pretty rare to go through adolescence without a pimple. Many teens aren't bothered by them, but if your child is bothered by their pimples or has a lot of them, it may be helpful to buy some acne products at your local pharmacy.

Ask questions and help dispel myths

If your teen or tween doesn't fall into one of these groups, chances are they don't need anything but plain old soap and water and the occasional moisturizer if their skin gets dry.

If your child has normal, healthy skin yet is asking for or buying specialized skin products, ask them why. Do your best to dispel the inevitable marketing myths — like that the products will prevent problems they do not have. Let them know that should a problem arise, you will work with them — with the advice of their doctor — to find and buy the best products.

Use it as an opportunity, too, to talk about self-image and how it can be influenced by outside factors. This is an important conversation to have whether or not your child is pining for the latest cleanser they see on Instagram. Helping your child see their own beauty and strengths is a key part of parenting, especially for a generation raised on social media.

Source: Harvard Health Publishing

While market participants are anything but certain about the specifics of the Federal Reserve's decision on interest rates rate tomorrow, there is one thing they know for sure: rates are about to come down. 

That conviction has boosted small-cap stocks in recent days. The Russell 2000 index was up for the fifth consecutive session on Tuesday. The small-cap benchmark has risen more than 5% in those five days, putting it ahead of the large-cap S&P 500, which has advanced about 2.5%.

Small caps' outperformance comes as investors await the Federal Reserve's first interest rate cut in more than four years. The cut, due Wednesday, is expected to be the first in a series of reductions that Wall Street thinks will lower the benchmark federal funds rate by at least a full percentage point before the end of the year.  

Rate cuts are broadly supportive of stocks, as long as the economy isn’t in a recession. Small-cap stocks are thought to benefit more than their large-cap peers from monetary policy easing because they’re more likely to hold floating-rate debt. That assumption underpinned the small-cap rally that propelled the Russell 2000 more than 10% higher in July, its best month all year. 

However, as analysts at Oxford Economics recently noted, small-cap performance has been mixed after previous interest rate cuts. At best, rate cuts have helped to moderate small caps’ underperformance relative to large caps in the late stages of tightening cycles. 

Though, they say, this time could be different. Oxford expects small caps to be “outsized beneficiaries of the upcoming rate cuts…due to their relatively weak balance sheets.” Lower borrowing costs, easier financial conditions, and resilient consumer and business spending, they said, should alleviate some of small caps’ balance sheet pressure.

Others, however, advocate caution. Bank of America (BofA) on Monday said its "Regime Indicator," a measure of market sentiment, declined for a second consecutive month in August, indicating a general risk aversion in markets. Small-cap stocks, due to their sensitivity to economic conditions and typically weaker balance sheets, are often riskier investments than comparable large caps.

Quarterly earnings are also, according to BofA analysts, an overhang for small caps. The small-cap S&P 600, they note, may have exceeded second-quarter earnings expectations, but the group’s aggregate profits still declined 10% from a year ago. Total sales also missed estimates and the outlook for the remainder of the year was bleaker than previously forecast. That, they said, could limit near-term upside from this week’s rate cut. 

BofA analysts instead recommended mid-cap stocks as a near-term hedge against market weakness. Mid caps, they said, offered better second-half earnings guidance than small caps, and tend to outperform small and large caps in the year after rate cuts.

Analysts at Goldman Sachs were similarly bullish on mid caps in a note last week. The group offered investors, they wrote, "superior earnings growth at a reasonable price compared with large-caps," and stronger income statements and balance sheets than small caps.

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The Bauchi State Police Command has arrested a dismissed soldier, Aliyu Adamu, for defrauding three applicants of N200,000 under the guise of helping them secure jobs in the Nigerian Army.

The command’s spokesperson, SP Ahmed Muhammed Wakil, disclosed this in a statement on Tuesday, September 17, 2024.

“Operatives attached to ‘B’ Divisional Police Headquarters has taken a significant step in apprehending an individual involved in fraudulent activities. L/Cpl Aliyu Adamu from Obi Local Government Area of Nasarawa State has been arrested on charges of impersonation, cheating, criminal misappropriation, and criminal breach of trust.

This arrest follows complaints from three individuals who reported that L/Cpl Aliyu Adamu collected a total sum of two hundred thousand naira from them, promising to secure jobs for them in the Nigerian Army.

However, they were not invited to the Nigerian Army depot for training as promised. The suspect admitted to having been dismissed as a Lance Corporal from the Nigerian Army a few months ago for being absent without official leave for a year. Furthermore, he confessed to using the money collected from the victims for personal purposes,” the statement reads in part. #Instablog9jaNews #Information #Awareness #StayUpdated

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Instagram is launching "Teen Accounts," designed to provide additional privacy for users under 18.

The Meta Platforms (META) social media app's new built-in protections for teen users include limits on who can contact them and the type of content they can see. Teens younger than 16 will need a parent's permission to change any of the included settings, the company said Tuesday. 

Users currently must verify that they are at least 13 to create an Instagram account.

Instagram Teen Accounts automatically will be set to private, meaning teen users will have to manually accept any new followers. The accounts also will be subject to the strictest messaging settings, meaning only people "they follow or are already connected to" can message them. Teens can also "only be tagged or mentioned by people they follow," Instagram said.

Additionally, Teen Accounts will receive reminder notifications to leave the app after an hour each day and sleep mode—which mutes notifications and sends auto-replies to direct messages—will be enabled between 10 p.m. and 7 a.m. daily. 

Teens who create accounts now will be subject to the new restrictions, with existing accounts converted within 60 days in the U.S., U.K., Canada, and Australia, and in the European Union (EU) "later this year." Beyond those countries, Teen Accounts will go into effect in January.

Last October, a coalition of 33 states sued the tech giant, alleging Meta's social media platforms harm children and teenagers and accentuate a national mental health crisis.

The plaintiffs accused Meta of targeting children and teenagers with addictive and manipulative features to keep them engaged on its apps to maximize advertising revenue and profits.

Last month, the reported that Meta and Alphabet's Google had a "secret deal" to target Instagram advertisements to teenagers on YouTube.

Meta shares edged higher to $534.88 Tuesday afternoon. Shares are up about 50% this year.

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Nigerian journalist Jimi Disu has lamented the economic hardship plaguing the nation.

Speaking on Nigeria Info FM, he said: “Nigeria has never been this bad. Just this morning, I was talking to an ordinary person, and she told me that in her home, they’ve resorted to one meal a day. Even during the war, it wasn’t this bad in this part of town.

To cut a long story short, I’m going to be spending about N120,000 on electricity for an apartment, and I live alone. Not only do I live alone, I also have two homes: a day home and a weekend home. It’s the weekend home I’m talking about.

In my estate, the minimum amount one can spend on electricity is N50,000. I said Nigeria has never been this bad. If you’re not careful, you’ll sell a house only to use the money to clear some debts and have just a little left to buy something for the house.

The dilemma now is that you can’t save because the Naira has no value.”

#Instablog9jaNews #Information #Awareness #StayUpdated

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