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Instablog9ja
8 m
15
President Tinubu has congratulates President-elect Donald Trump on his victory in the 2024 U.S. polls.
He said together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.
Instablog9ja
1 h
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President Bola Ahmed Tinubu, Commander-in-Chief of the Armed Forces, regrets to announce the passing of Lt. General Taoreed Abiodun Lagbaja, Chief of the Army Staff, at age 56.
He passed away on Tuesday night in Lagos after a period of illness.
Born on February 28, 1968, Lt. General Lagbaja was appointed Chief of Army Staff on June 19, 2023, by President Tinubu.
His distinguished military career began when he enrolled in the Nigerian Defence Academy in 1987. On September 19, 1992, he was commissioned as a Second Lieutenant in the Nigerian Infantry Corps as a member of the 39th Regular Course.
Throughout his service, Lt. General Lagbaja demonstrated exceptional leadership and commitment, serving as a platoon commander in the 93 Battalion and the 72 Special Forces Battalion.
He played pivotal roles in numerous internal security operations, including Operation ZAKI in Benue State, Lafiya Dole in Borno, Udoka in Southeast Nigeria, and Operation Forest Sanity across Kaduna and Niger States.
An alumnus of the prestigious U.S. Army War College, he earned a Master’s degree in Strategic Studies, demonstrating his dedication to professional growth and excellence in military leadership.
Lt. General Lagbaja is survived by his beloved wife, Mariya, and their two children. President Tinubu expresses his heartfelt condolences to the family and the Nigerian Armed Forces during this difficult time. He wishes Lt. General Lagbaja eternal peace and honours his significant contributions to the nation.
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Instablog9ja
2 hrs
9
Nigerians has poked holes in the report that dogs ma¥led a security guard at Pinnock Estate, Lagos.
They said the story was a lies and the dogs did not k#ll the man. Because there was no bl%%d stain on the man and the dogs, his clothes were still on him and the environment also was clean. The dogs were only there to sniff and investigate what has happened. A cctv footage would have helped, if there is one? Probably someone k#lled the man and dumbed him there or the man got drunk and d#ed.
Instablog9ja
3 hrs
9
Actress Sarah Martins has described Baltasar Ebang Engonga as ‘a dream man’ for many women.
She said jokes aside, that Equatorial Guinea guy is every woman’s dream man. The man is so skilled, very soft, very much in charge in bed, top notch energy, understands every mood, plays naija song on every escapade. He’s a full spec make we no lie.
Some women willingly gave themselves to him for expl%@tation while some women were given to him as settlement to wipe off their husbands bad record from system. The man’s so hot.
Investopedia
5 hrs
12
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Shares of Wynn Resorts (WYNN) slumped Tuesday after the hotel and casino operator posted third-quarter results that missed analysts' estimates as its Las Vegas operations slowed.
The company reported a third-quarter loss of 29 cents per share, or adjusted earnings of 90 cents per share, with both measures missing analysts' estimates compiled by Visible Alpha. Revenue climbed 1.3% year-over-year to $1.69 billion, also short of forecasts.
Wynn's weaker-than-expected results came as its Las Vegas operating revenue declined 1.9% to $607.2 million, and adjusted property earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) dropped 7.7% to $202.7 million.
The company had mixed results at its Macau properties, with operating revenue increasing 19.3% at Wynn Macau and declining 1% at Wynn Palace. It was 1.8% higher at Encore Boston Harbor.
Wynn noted that during the quarter it invested $18.2 million in its 40%-owned joint venture being built in the United Arab Emirates. CEO Craig Billings said the company is confident the Wynn Al Marjan Island resort "will be a 'must see' tourism destination in the UAE.”
Wynn Resorts shares were down nearly 10% in Tuesday afternoon trading and have lost over 5% of their value since the start of the year.
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Investopedia
10 hrs
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U.S. voters went to the polls Tuesday in what’s expected to be one of the tightest presidential elections in recent memory.
Democratic Vice President Kamala Harris and former former President Donald Trump, the Republican candidate, have staked out vastly different positions on economic issues, including taxes, trade, and regulations, all of which could have implications for the stock market and your investments.
Trump’s tariffs, if implemented as aggressively as he’s promised, would likely hit the bottom lines of importing companies, which is most U.S. firms, according to LPL Financial analysts Jeffrey Buchbinder and Adam Turnquist. Higher tariffs would also likely hurt sales for companies with substantial business outside the U.S., especially in China if it were to retaliate.
“This risk is broad,” Buchbinder and Turnquist wrote in a presentation Monday, “as both industrial and consumer goods companies could be affected.”
Harris has endorsed the targeted use of tariffs on certain Chinese goods to support U.S. manufacturing of green technology, an approach that would have a more muted effect on U.S. and international stocks.
Each candidate’s tax policies could also affect the market in the longer term. Many provisions of the Tax Cuts and Jobs Act (TCJA) of 2017, one key piece of legislation from Trump’s presidential term, are set to expire in 2025. Trump has vowed to extend the sunsetting provisions and to enact additional cuts for domestic production that could lower companies’ effective tax rate to less than the current 21%.
“Lower tax rates could help boost small caps and domestic-oriented industries like healthcare services, real estate, and utilities,” Buchbinder and Turnquist wrote.
Harris has supported higher taxes for the wealthy and businesses. Buchbinder and Turnquist estimate that corporate profits would “take a small hit, probably no more than a few percentage points,” if the tax rate were raised to 25% from 21%.
“Higher tax rates (and lower tariffs) could help multi-national, low-tax corporations that make up the industrials and technology sectors,” they said. The likelihood of Democrats increasing subsidies for low-income Americans could also support businesses in the consumer staples sector.
Tax policy requires the approval of Congress, so each candidate’s plans would be dependent on support from Congress, where majorities are expected to be narrow.
Trump has vowed to curtail regulations in a second term. He has said he would increase presidential control over some regulatory agencies and roll back Biden administration policies. Banks and energy companies are expected to be the greatest beneficiaries of Trump’s regulatory agenda.
However, Buchbinder and Turnquist note that energy stocks aren’t guaranteed to benefit from a lighter government touch. Trump would likely support more oil and gas production, which could weigh on prices and, subsequently, energy stocks. Whereas a more restrictive approach by a Harris administration could bolster oil and gas prices, giving a lift to energy profits and stocks.
Ultimately, however, researchers broadly agree that election outcomes are less consequential for the stock market than the economic cycle.
“Immediate post-election performance doesn’t reveal any discernible positive or negative response looking back at episodes since 2000,” according to a recent note from analysts at BMO Capital Markets Economic Research. The S&P 500 was higher 90 days after most of those elections, except for 2000, when markets were still reeling from the bursting of the Dotcom bubble, and 2008, when the Global Financial Crisis was in full swing.
A Deutsche Bank Research analysis of those same elections and the market’s reaction to each circulated Monday suggests a similar takeaway: That macroeconomic conditions are as consequential for the market’s post-election performance as the election itself.
However, 2000’s showdown between George W. Bush and Al Gore offers an illustrative example of how uncertainty about an election’s outcome can influence markets. It took more than a month of legal challenges before Gore conceded the race to Bush. With the outcome in question, the S&P 500 fell 8% in November 2000, its worst monthly performance of the year. Treasury yields steadily fell after Election Day as investors fled to the safety of U.S. Treasurys.
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