Select a category
Instablog9ja
19 m
15
Vice-President Kashim Shettima visited Maiduguri on Tuesday to sympathise with the people of Borno over the Alau dam flood disaster that displaced thousands of people.
Mr Kashim, who led a federal government delegation to the beleaguered city, was received by Governor Babagana Zulum, who took him to the palace of the Shehu of Borno, Abubakar El-Kanemi, which was also hit by the flood.From the palace, the vice-president drove to Bakassi camp, where thousands of those displaced by the flood were taking refuge.
Mr Shettima told the distraught victims that the government would support them with 50 trucks of rice.
He added that the government would also collaborate with the North-East Development Commission and other agencies to ensure they did not spend more than two weeks at the camp.
It would be recalled that Maiduguri residents on Tuesday woke up to devastating floods that swallowed many buildings and took over roads and bridges
Instablog9ja
2 hrs
15
Nigerians has reacted as Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, announces the launch of a N100 million AI fund.
Nigerians felt the money was too small $61,000 but the painting it big because the money has being converted to Naira.
Instablog9ja
3 hrs
12
Nigerian clerics from various Christian denominations have staged a protest against the National Agency for Food and Drug Administration and Control (NAFDAC) for accusing Senior Prophet Jeremiah Fufeyin of Christ MercyLand Deliverance Ministry of using “Miracle Water, Soap” to deceive Nigerians.
The clerics numbering more than seven on Tuesday led a protest to NAFDAC office in Asaba, Delta State capital, asking the food and drug regulatory agency to cease its scrutiny of Prophet Fufeyin’s Christ MercyLand Deliverance Ministry in Abuja concerning his spiritual products.
The clerics said that NAFDAC has no right to regulate spiritual products in Nigeria, noting that spiritual products have spiritual backing, hence, they don’t need NAFDAC approval.
It would be recalled that NAFDAC said it was investigating the sale of “miracle” water and soap at Christ MercyLand Deliverance Ministries, led by Prophet Fufeyin. The food and drug regulatory agency in a statement issued on Sunday, accused the church of falsely using its name to deceive the public.
According to a statement from NAFDAC signed by its Director General, Prof. Mojisola Adeyeye, none of the products being marketed and sold by the church had been registered with the agency. But despite heavy rain on Tuesday, The PUNCH reports that the protesters, comprising members of Fufeyin’s church and other Christian denominations, gathered at the NAFDAC office with placards bearing messages like “Spiritual products have spiritual backing; they don’t need NAFDAC approval” and “Respect spiritual matters.”
Metropolitan Archbishop Samuel Baaba of the Charismatic Anglican Church of Nigeria who spoke on behalf of the group, stressed that NAFDAC should not intervene in spiritual affairs. Baaba said, “We are here to stand in solidarity and send a clear message to NAFDAC: refrain from interfering in spiritual matters.
“NAFDAC does not have the authority to regulate spiritual products. There are limits to what should be regulated, especially in matters of faith.” instabloa9ia Rector of Union Theological Institute and Seminary in Port Harcourt, Evangelical Church, Calixtus, and Most Celestine Ewurum also expressed their support, emphasising their focus on issues related to spiritual items only.
Instablog9ja
4 hrs
13
A ladies has shared their thoughts on what it’s like to date a Manchester United fan.
She said dating a Manchester United fan is very dr@ining because the team has being losing almost every week.
Mrwinter 4 hrs 3
Investopedia
6 hrs
12
:max_bytes(150000):strip_icc()/GettyImages-1258328160-1c7f4ae7f97f4b0b8d69b3fbcde40fd9.jpg)
Hewlett Packard Enterprise (HPE) shares suffered the steepest daily loss of any stock in the S&P 500 on Tuesday, plunging more than 7% after the provider of enterprise technology solutions announced a $1.5 billion convertible stock offering.
According to a filing with the Securities and Exchange Commission (SEC), HPE plans to use the proceeds from the offering — of 27 million shares of mandatory convertible preferred stock — to cover fees and expenses related to its acquisition of the networking equipment maker Juniper Networks (JNPR).
HPE in January said it would purchase Juniper in an all-cash deal worth around $14 billion, aiming to and improve its position in artificial intelligence (AI) networking markets.
The offering of additional shares often causes downward pressure on stock prices because it results in dilution—a reduction in the value of the shares held by existing investors as their proportional ownership in the company diminishes.
In this transaction, Hewlett Packard Enterprise is offering preferred shares, a class of stock that provides priority dividend payouts compared with common shares. Preferred shareholders also have the option to convert their holdings into common stock.
The preferred shares offered by Hewlett Packard Enterprise will automatically convert to common stock around Sept. 1, 2027 unless shareholders redeem or convert their shares prior to that date.
In its most recent earnings report, released Sept. 4, Hewlett Packard Enterprise posted better-than-expected sales. An increase in server revenue, boosted by AI demand, helped drive the performance. However, diluted earnings per share (EPS) fell shy of forecasts, and the stock has been trending downward in the week following the release.
Following Tuesday's losses, HPE shares fell into negative territory for 2024, currently down around 4% year to date.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
