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Instablog9ja
39 m
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.
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Expedia Stock Jumps On Report That Uber Has Explored Takeover
Expedia (EXPE) Shares Rose, While T...
Investopedia
39 m
15
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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.
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Instablog9ja
2 hrs
15
The federal government has officially announced the end of fuel and foreign exchange subsidies.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this declaration during the presentation of the Nigeria Development Update by the World Bank in Abuja on Thursday, October 17.
Edun revealed that these subsidies had drained the country’s economy, costing over N10 trillion, which amounts to five percent of Nigeria’s Gross Domestic Product (GDP).
“Fuel and FX subsidy are extinguished. The key thing here is that for the first time in 40 years, the vex tissue of fuel subsidy, and linked to it, the foreign exchange subsidy, costing five percent of GDP has gone,” he said.
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Investopedia
2 hrs
15
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U.S.-listed Taiwan Semiconductor Manufacturing Co. (TSM) shares jumped 9% Thursday morning after the chipmaker posted robust quarterly earnings and projected a buoyant outlook on the back of the artificial intelligence (AI) boom.
The company, which supplies tech heavyweights such as Apple (AAPL) and Nvidia (NVDA), reported a 54% year-over-year rise in third-quarter net income of 325.26 billion New Taiwan dollars ($10.12 billion), up from NT$211 billion. The profit figure by the world's largest contract chip manufacturer beat the NT$300.78 billion consensus estimate of analysts polled by Visible Alpha.
TSMC also reported a 39% jump in revenue to NT$759.69 billion ($23.64 billion) for the quarter and a 57.8% gross margin, above analysts' estimates and the guidance it gave for both in the second quarter.
"Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3nm and 5nm technologies," TSMC Chief Financial Officer (CFO) Wendell Huang said. "Moving into fourth quarter 2024, we expect our business to continue to be supported by strong demand for our leading-edge process technologies."
TSMC's upbeat earnings, in contrast to Dutch semiconductor-gear manufacturer ASML Holding's (ASML) downbeat outlook earlier in the week, restored investor faith in the AI boom Thursday. Shares of AI chip giants Nvidia (NVDA), Arm Holdings (ARM) and Advanced Micro Devices (AMD) all rose.
TSMC Chief Executive Officer (CEO) C.C. Wei called the demand for AI “real" in the earnings call, according to a transcript provided by AlphaSense.
TSMC American depositary receipts (ADRs) have almost doubled this year.
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Instablog9ja
3 hrs
14
The World Bank has said that Nigeria is seeing positive results from the economic reforms by President Bola Tinubu’s administration.
World Bank’s lead economist, Alex Sienaert, said this during a presentation in Abuja on Thursday, October 17, 2024.
Sienaert said Nigeria’s fiscal deficit has reduced from 6.2 percent in the first half of last year to 4.4 percent in the first half of this year.
He said the reforms have led to robust growth in service sectors, stability in the oil sector, and improvements in the foreign exchange market.
According to him, “We are seeing a fiscal consolidation underway with the fiscal deficit shrinking from 6.2% of GDP in the first half of last year to 4.4% in the first half of this year and that’s driven by a combination of expenditure being roughly constant in real terms, and revenues which are surging.
This surge in revenues is largely due to the removal of the implicit FX subsidy that was happening before, which was even larger than the petrol subsidy, which we talk a lot about.”
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Investopedia
5 hrs
10
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Bitcoin (BTC) could make more headlines today as the leading cryptocurrency’s price hovers around a three-month high just below the closely watched $67,000 mark.
The digital asset, currently around 6% higher this week, has received a boost in recent days from significant inflows into spot Bitcoin exchange traded funds (ETFs). So far this week, the 12 U.S. funds have amassed nearly $1.4 billion in net inflows, with the ETFs on track to record strong weekly inflows.
The surge in ETF inflows indicate that the Federal Reserve’s half-percentage-point cut to its benchmark funds rate last month may be renewing investor optimism for the broader asset class.
Below, we’ll take a close look at the technicals on Bitcoin’s chart and point out key price levels to watch for.
Since topping out in early March, Bitcoin’s price has oscillated within a symmetrical triangle, potentially consolidating before breaking out above the pattern to continue a longer-term uptrend.
However, it’s worth pointing out that trading volumes on Coinbase (COIN), the largest U.S crypto exchange, have trended lower in recent months, indicating that many investors may still be on the sidelines, waiting for a decisive breakout.
Let’s turn to Bitcoin’s chart to forecast several potential price targets above the cryptocurrency’s record high and identify two key support levels investors may be watching.
To project our first upside target, we’ll use the measuring principle. This works by calculating the distance between the symmetrical triangle’s two trendlines near their widest point and adding that figure to the pattern’s top trendline. For example, we add $24,000 to $68,500, which forecasts a price target of $92,500, around 38% above Bitcoin’s current price.
When forecasting a longer-term bullish move, we can apply a bars pattern. Such a technique uses historical trends on the chart to speculate how a future directional move may play out. In this case, we’ll take Bitcoin’s strong trend higher that preceded the symmetrical triangle and reposition it from last month’s low, which projects an upside target of around $135,000.
Investors should monitor how the price responds to the key psychological $60,000 level. This area on the chart could find support from the symmetrical triangle’s lower trendline and a range of comparable trading levels positioned around the cryptocurrency’s 2021 peak.
A breakdown below the symmetrical triangle could see Bitcoin’s price drop to around $44,000, where investors may look for buying opportunities near a horizontal line linking a series of price action from February 2021 to January this year.
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