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APC Chieftain Woye, has weighed in on the recent Bobrisky scandal.
He VeryDarkMan should hire an experienced lawyer, it’s going to be a long day for him. Bobrisky will return to prison.
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Homebuyers are finally returning to the housing market after the Federal Reserve cut its influential interest rate for the first time in four years.
Before the central bank cut its federal funds rate, potential homebuyers hesitated to enter the housing market as high mortgage rates priced them out. Fewer homes were listed as sellers were reluctant to trade in their low interest rates, pushing up the price tag on homes as well.
After the central bank cut interest rates last week, homebuyers have seemingly become more optimistic about the housing market. According to data from Optimal Blue and analyzed by Redfin, homebuyers locked in nearly 70% more mortgages on Sept. 23 than they did a month earlier.
Banks set mortgage rates based on several factors, including the fed funds rate. Potential homebuyers have been watching to see if this rate cut and future actions by the central bank will impact the housing market.
New data from Freddie Mac Thursday showed that interest rates hit a two-year low just a week after the Fed's meeting. The 6.08% average rate on a 30-year, fixed-rate mortgage is still high by historical standards but is nearly 2 percentage points lower than the peak from last October.
Mortgage-purchase applications rose by more than 10% month over month and pending home sales fell 3.1% over the four weeks ending Sept. 22, the smallest decline in five weeks, according to Redfin’s Homebuyer Demand Index.
“One new client decided to start their home search last Thursday because of the Fed’s rate cuts on Wednesday,” said Andrew Vallejo, a Redfin real estate agent in Austin, Tex. “They immediately reached out to a real estate agent and they’re working with a lender.”
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Shares of Super Micro Computer (SMCI), or Supermicro, dropped 15% to lead S&P 500 decliners Thursday on a report that the U.S. Department of Justice (DOJ) is investigating the server maker over possible accounting and other violations.
reported that the probe came after well-known short seller Hindenberg Research claimed last month that it saw "fresh evidence of accounting manipulation, sibling self-dealing and sanctions evasion" at Supermicro.
Hindenberg said in the report that it uncovered "glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures, and customer issues."
The paper said that the investigation is in its early stages, and that a prosecutor in the U.S. attorney's office in San Francisco has contacted people who might have relevant information.
It added that officials appear to be looking into accusations from a former employee who filed a whistleblower lawsuit against the company and Chief Executive Officer (CEO) Charles Liang in April, charging Supermicro with improper accounting.
Last month, Supermicro announced that it would delay the release of its annual report, saying that management needed additional time "to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024."
Supermicro didn't respond to an request for comment.
Super Micro Computer shares hit an all-time high in March, quadrupling in value for the year at that point as the company benefited from the artificial intelligence (AI) boom. However, the stock has lost ground since, although it remains up about 38% in 2024. Recently, shares were off 15% at $387.21 each.
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Lagos Police PRO, Benjamin Hundeyin has said the policemen who hara§§ed and extorted corps members of over N1 million have been identified and are being interrogated.
He said they are men of Area C, Surulere. The Area Commander has been contacted. The men have been identified. They are being interrogated. However, we need more than a verbal accusation. Kindly tell us more. The spy camera would have captured the exchange of money too, be it cash or transfer. Give us something to work it. Update as regards the outcome of the ongoing interrogation will be made available.
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U.S. equities advanced at midday Thursday as chip stocks surged, led by Micron Technology (MU) after the memory chip maker reported strong sales driven by AI demand. The Dow, S&P 500, and Nasdaq all rose.
Jabil Circuit (JBL) shares also jumped after the company reported revenue that topped estimates, announced a restructuring, and gave an upbeat outlook.
Shares of Southwest Airlines (LUV) took off as the carrier, which as been under pressure from activist investor Elliott Investment Management, laid out a three-year turnaround plan.
CarMax (KMX) shares rose after the biggest U.S. used car retailer posted better-than-anticipated results on higher retail vehicle sales.
Super Micro Computer (SMCI) was the worst-performing stock in the S&P 500 following a report that the Justice Department is investigating the tech firm over alleged accounting violations.
Shares of Diamondback Energy (FANG) and others in the oil industry sank along with crude futures after Saudi Arabia committed to a production increase.
Pfizer (PFE) shares dropped as the pharmaceutical firm withdrew all of its sickle cell disease drug, Oxbryta, worldwide because of safety concerns.
Prices for gold and silver rose. The yield on the 10-year Treasury note was up. The U.S. dollar gained on the yen, but fell to the euro and pound. Most major cryptocurrencies traded higher.
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VeryDarkMan has shower praises on the Minister of Interior, Bunmi Tunji-Ojo, for suspending senior prison officials in connection with Bobrisky’s bribery allegations.
He said the honorable minister of interior Olubunmi Tunji Ojo you have proven himself to him before so he was just relaxed watching and boom he did it again with the suspension of some officers that might be involved with this whole bobrisky saga.
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