Select a category
Advertisement
Instablog9ja
49 m
11
A young man is currently battling for his life at the Lagos University Teaching Hospital (LASUTH) after an alleged encounter with operatives of the Lagos State Police Command.
It was gathered that the unfortunate incident occurred on Wednesday morning, October 16, in Ipaja area of the state.
According to X user Omorhemi, “Yesterday morning, police chased my friend’s husband until he f+ll into the canal. They took his slippers and the money that fell, then left when people started shouting. This happened at Federal bus stop, Ipaja Ayobo axis. He is currently unconscious at LASUTH.
The officers were in plain clothes. They stopped him on a bike, and the rider left. They searched him, accusing him of being a yahoo boy because of his tattoos. They began c%cking their g*ns, thr€@t€ning to sh%%t. He denied the accusation and tried to move away, but they chased him until he ran.“
Videos obtained shows the victim, who covered one of his hands with tattoos, being rescued from the canal by a group of young men.
Investopedia
5 hrs
11
:max_bytes(150000):strip_icc()/GettyImages-2178767848-18984c461c38456489d2ffb3aaf0f676.jpg)
Shoppers kept hitting the stores in September, showing they could continue to boost the economy despite economists' calls for a slowdown.
U.S. retail sales increased by 0.4% in September, Census Bureau data showed. Consumers again surprised economists with their propensity to spend, as the $714.4 billion in sales was a slightly bigger jump than they expected.
What caught some economists’ attention was a measure of “core” spending that excludes sales at gas stations and auto dealerships. That measure rose 0.7% from the prior month.
“Despite worries about the financial health of the consumer and potential weakening in the labor market, U.S. retailers had a solid month in September,” Wells Fargo economists Tim Quinlan and Shannon Seery Grein wrote in a commentary.
The strong results could lead to better-than-expected growth in the U.S. Gross Domestic Product (GDP) for the third quarter, economists said.
"The September retail sales report shows the U.S. consumer still has formidable spending power that they continue to deploy in somewhat more targeted ways," wrote BMO Capital Markets' Chief U.S. Economist Scott Anderson.
Leading the way were “nonstore retailers,” which mainly includes online stores like Amazon (AMZN), as well as other e-commerce platforms and traditional catalog services. Online store sales rose 7.1% over the same time last year.
Sales were also improved at restaurants and bars, clothing stores, and health and beauty stores.
Furniture sales dropped 2.3% as home sale activity declined amid a high interest rate environment that has made home buying difficult for many.
The monthly data comes after the National Retail Foundation projected sales would continue to grow during the upcoming holiday shopping season.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Advertisement
Investopedia
10 hrs
11
:max_bytes(150000):strip_icc()/GettyImages-2113281186-7a7b2e9bcd65470cac4832f828630c2a.jpg)
Netflix (NFLX) earnings are coming after the bell Thursday, with analysts generally bullish on the streamer's stock—though they aren't currently calling for large price appreciation.
Of the 20 analysts covering Netflix tracked by Visible Alpha, 15 have "buy" ratings on the shares; there's only one "sell" rating.
The consensus price target is $732.26, about a 4% premium to to Wednesday's $702 close. The price targets used to determine that average vary from $550 to $820.
Analysts expect the streaming giant to post year-over-year revenue, profit, and subscriber growth ahead of the final quarter of 2024. Netflix shares dipped following the company's quarterly reports in April and July.
The shares were down more than 1% in morning trading, leaving the stock up more than 40% this year.
Here’s what you need to know about Netflix’s upcoming earnings report.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Investopedia
11 hrs
13
:max_bytes(150000):strip_icc()/GettyImages-2172601566-5ab289e55037471981c4619e3d2f84ad.jpg)
Shares of Lucid Group (LCID) plunged Thursday as the struggling luxury electric vehicle (EV) maker announced that it plans to sell about 637 million shares on the market and to investors for a total of $1.67 billion. It also predicted a bigger quarterly loss than expected.
The carmaker wrote in a regulatory filing that it would be making 262.4 million shares available in a public offering. The underwriters would also have a 30-day option to pick up 39.4 million more shares.
In addition, Lucid said its majority shareholder, Ayar Third Investment Company, an affiliate of Saudi Arabia's Public Investment Fund (PIF), indicated it would be purchasing another 374.7 million shares in a private placement concurrently with the public sale. It noted that with that acquisition, Ayar would hold a 58.8% stake in Lucid. Ayar also plans to buy additional shares if the underwriters exercise their option.
The company explained that the funds raised from both the public and private sale would go toward general corporate purposes, "which may include, among other things, capital expenditures and working capital."
Along with the share offering, Lucid reported that it anticipates a third-quarter loss of $765 million to $790 million, while analysts surveyed by Visible Alpha were looking for approximately $756 million. However, its revenue estimate of $199 million to $200 million was above forecasts. The company is scheduled to release its financial report on Nov. 7.
Lucid Group shares fell nearly 15% soon after markets opened Thursday and have lost a third of their value this year.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Instablog9ja
12 hrs
9
Former Premier League and South Korean footballer Hwang Ui-jo is reportedly facing four years in prison after illegally filming himself ‘working out’ without the consent of his partners.
According to prosecutors in the South Korean capital of Seoul, the 31-year-old striker filmed encounters on four different occasions between June and September in 2022.
French outlet L’Equipe reports that the case against the forward emerged after his sister-in-law in fact posted the footage on social media.
Hwang then sought to remove the videos, and sued the sister-in-law for blackm@il, with that suit successful and resulting in a sentence of three years.
On Wednesday he made his first appearance in court in the South Korean capital, apologising for ‘disappointment’ caused by his actions.
“I will not do anything wrong in the future and will do my best as a footballer.
I sincerely apologise to the victims who have been affected by my actions, and I am deeply sorry for the disappointment I have caused to all those who have cared and supported me,” he told the court.
#Instablog9jaNews #TrendingStory #Awareness #StayUpdated
Advertisement
Expedia Stock Jumps On Report That Uber Has Explored Takeover
Expedia (EXPE) Shares Rose, While T...
Investopedia
12 hrs
15
:max_bytes(150000):strip_icc()/GettyImages-2168366021-9282fb8fc29a4d15a971da77313ad846.jpg)
Expedia (EXPE) shares rose, while those of Uber Technologies (UBER) moved lower Thursday morning following a report from the that the ridesharing giant has explored acquiring the travel booking company.
A third party brought the idea to Uber, which has not yet made any official approach or offer to Expedia, the reported, citing "three people familiar with the process."
Uber and Expedia did not immediately respond to requests for comment. Expedia shares rose 5% in early trading, while Uber's stock was down 1.5%.
Acquiring Expedia—which operates its namesake platform along with brands like Hotels.com and Vrbo—would help expand Uber's efforts into travel booking as it aims to transform itself into a "super app," the reported.
In Uber's second-quarter earnings call in August, Chief Financial Officer (CFO) Prashanth Mahendra-Rajah said investing in growth remained Uber's "top priority," including "through acquisition opportunities that are aligned with our strategy." The company has a history of acquisitions, including buying up delivery rivals like Postmates and others.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi previously served as Expedia's CEO from 2005 until his 2017 departure to take the top job at Uber, which the reported should help ensure any acquisition talks would start on a friendly note.
Khosrowshahi currently is a non-executive director on Expedia's board and "would recuse himself from deal discussions," the report said.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
