Select a category

The Nigeria Police Force has placed a N20m bounty on a British national, Andrew Wynne, also known as Andrew Povich, and a Nigerian, Lucky Obiyan.

The duo were declared wanted for allegedly plotting to overthrow the President Bola Tinubu-led government.

In a Special Police Gazette Bulletin, the police announced a reward of N10 million each for anyone who provides information that leads to the arrest of the suspects.

“If seen, arrest and hand over to the nearest Police Station, or the office of the Deputy Inspector-General of Police, Department of Force Intelligence, Force Headquarters, Abuja, or call 08035179870, 09133333785, 09133333786.

A reward sum of N10,000,000 awaits any person(s) with information leading to the arrest of each of them,” it reads.

#Instablog9jaNews #Information #Awareness #StayUpdated

Continue reading on Instablog

Barbie has a new accessory: donuts.

Krispy Kreme (DNUT) is teaming up with Mattel's (MAT) Barbie for the toy’s 65th anniversary. Starting today, customers can buy a Barbie x Krispy Kreme donut box, which includes a signature Barbie Pink Doughnut with pink sugar and sunglasses sprinkles, Some fans can win Barbie Fashionista dolls with accessories including a Krispy Kreme paper hat.

It's the latest partnership announced by the donut company, which last month teamed with Dr Pepper to create a lineup of doughnuts to mark the beginning of the college football season.

The news comes as quick-service food companies are looking for ways to get customers buying and attract attention to their brands. Another recent tactic is a widespread shift toward value offerings: Dunkin recently unveiled its fall menu, offering a pumpkin-spice latte and a pumpkin doughnut but also a new "$6 Meal Deal" that includes a medium coffee, hash browns, and a bacon, egg, and cheese sandwich. 

Krispy Kreme has itself joined the pumpkin-spice parade, announcing pumpkin donuts in mid-August. Earlier this year, it said its donuts would be sold at McDonald's (MCD) locations.

Shares of Krispy Kreme were up more than 1% in recent trading.

Read more on Investopedia

The South African Consulate in Abuja has denied players of the Nigerian U-18 boys’ basketball team visas to participate in the  2024 FIBA U18 Afrobasket tournament.

The tournament is scheduled to take place in Cape Town from December 14 to 22.

Confirming the development to newsmen, the Nigerian Basketball Federation (NBBF) frowned at the sudden denial of visas, which they claimed was done without explanation.

The Vice Chairman of the Youth Development Committee of the Nigeria Basketball Federation, Ugo Udezue, described South Africa’s actions as total sabotage.

“First of all, it’s rather unfortunate that an African country needs a visa to travel to another African country. Secondly, this is against the spirit of sportsmanship. These kids have sacrificed too much for a visa consular officer to deny them the opportunity to represent Nigeria globally.

The act of refusing the team visas seems like a deliberate attempt to stop the Junior D’Tigers, as the South African Embassy in Lagos cleared the girls to travel, and they are already in Pretoria and set for their opening match against Egypt on Tuesday,” Udezue said. #Instablog9jaNews #Information #Awareness #StayUpdated

Continue reading on Instablog

German automotive giant Volkswagen (VWAGY) is considering significant cost-cutting measures to restructure amid an "extremely tense" economic situation as it faces increasing international competition and pressure on profits as it transitions to producing more electric vehicles.

Volkswagen Group CEO Oliver Blume said in a statement that the company is facing a "very demanding and serious situation" in Europe's automotive market, meaning the company must "act decisively" to remain competitive.

The company said the Performance Program it launched last year, with a stated goal of creating 10 billion euros ($11 billion) in savings by 2026, is no longer enough to meet the "enormous challenges" it faces.

The company behind a number of car brands from its namesake Volkswagen to luxury names like Audi, Lamborghini, and Porsche is considering ending a decades-old job security pact with German employees as it works to resolve an "extremely tense" economic situation.

"The goal must be to optimise product costs, material costs, and sales performance, as well as factory and labour costs," the company said. "In the current situation, even plant closures at vehicle production and component sites can no longer be ruled out without swift countermeasures. The situation is extremely tense and cannot be resolved through simple cost-cutting measures."

Unions and trade groups have spoken out against the statement, with the union representing the company's German workers saying it would be prepared to fight any job cuts, the reported.

Read more on Investopedia

Broadcom (AVGO) shares may see heightened volatility this week, with the chipmaker slated to release its fiscal third-quarter earnings report after the closing bell on Thursday. Investors will likely be scrutinizing the company’s artificial intelligence sales growth and full-year outlook, which have benefited in recent quarters from growing demand for its custom AI chips.

The chipmaker’s stock, which trades around 11% below its record close, spent most of last month recovering from a recent steep correction that was triggered by a broad-based sell-off in technology stocks and profit taking after the shares underwent a 10-for-1 stock split in July.

Below, we zone in on Broadcom’s technicals and identify key price levels to watch out for leading into the company’s quarterly report.

Since setting a record high in mid-June, Broadcom shares fell as much as 31% before staging an impressive recovery throughout most of August to reclaim the 50-day moving average (MA) by the end of the month. However, it’s worth pointing out that recent buying has occurred on decreasing volume, indicating a lack of institutional activity.

Leading into the Broadcom’s quarterly results, investors should keep their eyes peeled on several important chart levels that could come into focus.

The first lower price level in play sits around $157. This area, currently situated about 4% below Friday’s close, could find support from a horizontal line connecting recent swing lows in June and August.

A failure to hold this important location could see the shares drop to the $141 area, a location on the chart where investors may look for buying opportunities near a four-month period of sideways drift in the stock between Match and June

An initial move higher from current levels may propel a jump to $168, where the stock could run into resistance near several gap trading levels that formed on the chart in June and July. The area also sits closely positioned to last month’s high and a trendline joining the June and August peaks.

To project a price target above the all-time high (ATH), we can extract the stock’s trending move from December to March that commenced with similar price action to last month’s recovery and reposition it from the August swing low. Such a technique forecasts an upside target of around $195, about 5% above Broadcom’s record high.

Broadcom shares were down 1.3% at $160.70 in premarket trading around 7:10 a.m. ET Tuesday.

Read more on Investopedia

The Federal Reserve hasn't cut interest rates yet, but financial planners say it's not too early to start reviewing high-interest debt.

The Federal Reserve has worked to tame inflation by raising its influential benchmark rate to record highs, raising borrowing costs of all kinds. However, the central bank seems to be on the cusp of cutting interest rates, with the first cut widely expected at the Fed's September meeting.

Financial planners recommend being proactive so you can be prepared to make money moves in reaction. Here are three things experts recommend you do before the Fed cuts rates.

It may be time to investigate refinancing your mortgage, financial planners said.

According to Investopedia's research, homeowners who bought after the Fed began its campaign against inflation took on mortgage rates that were more than 8% on average at their peak. Those homeowners may now be able to refinance at a rate more than 1.5 percentage points lower.

Shaun Williams, a certified financial planner for Paragon Capital Management, recommends refinancing if you can afford the time and money associated with the process—and you can find a rate at least half a percentage point lower than your current rate.

For example, refinancing a 30-year mortgage with $250,000 remaining from 7.79% to 7.29% could lower the monthly payment by more than $85, saving nearly $31,000 in interest total, according to Investopedia's calculations.

Mortgage debt isn't the only kind of debt planners say people should seek to refinance. Interest rates on credit cards have risen by seven percentage points since the Fed began fighting inflation, something many cardholders aren't aware of.

Trading one debt for another might be beneficial, perhaps through lower-interest credit cards or personal loans, according to Robert Persichitte, certified financial planner at Delagify Financial.

“Credit cards are just a piece of our life that most people don't think about,” said Sarah Paulson, certified financial planner for Valkyrie Finance. “I try to encourage my clients if they have the credit score for it, ‘Can we refinance credit card debt into either a balanced transfer card or would a personal loan be a better interest rate?’"

There are ways to save money even when everything feels more expensive.

Socking away money in a high-yield savings account can help you take advantage of interest rates. Not only will this earn you more than an average savings account, but it can also deter you from spending money on unnecessary expenses, Paulson said.

You should also be intentional about where you put your savings, experts said. While CDs are popular with interest rates still near all-time highs, it may not be necessary to lock the money up or face penalties for early withdrawal if savings rates are high enough elsewhere, according to Persichitte,

Read more on Investopedia