Select a category

The Woman who tore her husband’s international passport at the Lagos airport has been arrested and flown to Abuja for questioning.

The woman has being invited for questioning by Nigerian Immigration service, after she tore the passport of her husband, after they arrived Nigeria because of the grievances she had against her husband.

Continue reading on Instablog

Economists expect that data to be released Thursday will show retail sales moved higher again in July. However, the post-pandemic spending spree may be close to an end.

Retail sales likely increased 0.3% in July versus the month before, according to economists surveyed by the and . That increase would follow better-than-expected figures the month before that showed consumers maintained their spending habits.

Strong retail sales have helped power the economy's unexpected growth, as shoppers spent their way past projections that the U.S. would fall into a recession last year. And so far in 2024, retail sales have remained generally robust, though some economists think a slowdown is coming. 

Weakness in the job market and the reliance of customers on credit has some economists asking if shoppers can sustain their spending habits.

“The lackluster pace of hiring in July, combined with other labor market indicators continuing to weaken, implies weaker income growth, which will eventually weigh on consumer spending,”  wrote Wells Fargo economists Tim Quinlan, Shannon Seery Grein and Jeremiah Kohl.

Auto sales likely boosted the overall retail sales figure in July, after a cyberattack disrupted sales in the prior month. Meanwhile, gasoline sales are expected to have declined for a third consecutive month, as gas prices have remained subdued through most of the summer.

Another factor driving sales could be Amazon's Prime Day, which happened in mid-July and often spurs competing sales. Adobe Analytics estimated that this year Americans spent more than $14.2 billion at online retailers during the two-day sale.

“Our forecast reflects a boost from another record Amazon Prime Day but sequentially slower credit card spending growth and a potential headwind from seasonality,” wrote Goldman Sachs analysts.

Read more on Investopedia

Classy Jesters has inspired his fans and content creators as he bought himself a Brand NEW Mercedes Benz GLE Coupe worth over 170 Million Naira.

The Jester was seen parading himself with the exotic cars.

Continue reading on Instablog

Reality TV star, Kim Oprah has revealed that money does not stop you from traveling to your favorite destination.

She said doesn’t know who needs to hear this but money does not stop you from traveling to your favorite destination.

Continue reading on Instablog

Shares of Sea Limited (SE), the Singapore tech conglomerate that runs online shopping website Shopee, soared Tuesday after the company reported double-digit revenue growth in all its business segments for the second quarter.

Sea posted second-quarter adjusted earnings per share of $0.54, with revenue up 23.0% to $3.8 billion. Both exceeded estimates. 

The biggest driver of revenue growth was e-commerce sales that soared 40% to $2.5 billion. Shopee has a significant presence in South Asia, Taiwan and Latin America.

CEO Forrest Li said because of its strong first half results, Sea expects Shopee's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to be positive starting in the third quarter. The company is also is raising its full-year outlook for gross merchandise value (GMV) to mid-20% growth.

Sea also owns Garena, the gaming business behind popular game Free Fire and other digital entertainment such as publishing and e-sports. SeaMoney, is the company's digital finance subsidiary offering mobile wallets and process payments in Southeast Asia and Brazil.

Digital financial revenue increased 21.4% to $519.3 million, while digital entertainment revenue climbed 21.1% to $536.8 million.

"Garena delivered a strong quarter, with more than 20% year-on-year growth in bookings, mainly contributed by Free Fire," said Mr. Li, adding that the game had more than 100 million active players.

Sea Limited's American Depositary Shares rose 11.9% to finish Tuesday's session at $74.85. The stock has risen 85% since the beginning of the year.

Read more on Investopedia