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A woman who joined forces with her two children to ‘hug’ up her 75-year-old husband has been arrested by police operatives in Anambra State.

The suspect, Esther Obidigwe, was arrested alongside her two children, identified as Ozioma and Obuka, in Awba-Ofemili, Awka North local government area of the state.

The arrest followed a report from the victim, Mr Romanus Obidigwe, which he tabled at the Ministry of Women and Social Welfare.

Obidigwe, a retired senior civil servant, while narrating his ordeal at the Ministry, said: “My family has been mistreating me. In this particular incident, my daughter, Ozioma, sold my firewood without my consent and when I confronted her, she, her mother and brother p%unced on me, restrained me and caused inj¥ri£§.

It took the intervention of a neighbour before they stopped, after which they locked me out of my compound.

They have since stopped feeding me which I accepted in good faith, yet, they usually st€al from me, especially my first son. He even went to the extent of claiming my benefits at the Local Government Area I retired from.

Just for peace to reign, I submitted to my wife’s compulsory “no s+xual relationship” since the year 2000 till date.”

Responding to the allegations, the first son of the victim, Obuka, denied being present when the incident happened while his wife, Mrs Esther Obidigwe confessed to the crime.

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Intel (INTC) shares extended their losses Wednesday amid a stretch of bad news, as reported that recent tests of the chip giant's most advanced manufacturing process conducted by Broadcom (AVGO) failed.

Silicon wafers, which chips are printed on, reportedly were returned to Broadcom last month after they were run through Intel's 18A manufacturing process. A review by Broadcom engineers found that the process isn't ready to be used for high-volume production, said

Intel and Broadcom did not immediately respond to requests for comment.

While many chip stocks have surged amid artificial intelligence (AI) demand, Intel shares have lost about 60% of their value since the start of 2024.

Those struggles have accelerated over the last month, with a disappointing earnings report and the announcement that it would lay off about 15% of its employees as part of a larger cost-cutting plan. The earnings report sent shares 26% lower the day after it was released, to their lowest point in over a decade.

The earnings-related fall was followed by reports that concerns have emerged over the company's planned construction of two new facilities in Germany. On Tuesday, shares were driven lower by a report that executives are preparing to present plans to cut costs and sell assets amid the company's struggles, and concerns that Intel could potentially face removal from the Dow Jones Industrial Average (DJIA).

Intel shares were 2% lower at $19.67 early Wednesday afternoon.

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The Dow, S&P 500, and Nasdaq were little changed at midday Wednesday as chip stocks rebounded and a report showed job openings fell more than expected in July. 

Dollar Tree (DLTR) was the worst-performing stock in the S&P 500 after the discount store chain missed sales estimates and cut its forecast as inflation drove its customers to pull back on spending.

Shares of Hormel Foods (HRL) shares also dropped after the maker of Spam and other foods reported lower-than-expected sales and it reduced its outlook on lower prices and factory disruptions.

Centene (CNC) shares slid as the health insurer projected the number of Medicaid recipients covered this year would be lower than it previously estimated.

Shares of GitLab (GTLB) took off after the software development provider reported better-than-expected results and lifted its guidance on soaring demand for artificial intelligence (AI) products.

Sweetgreen (SG) shares jumped after an upgrade from TD Cowen, which pointed to the advantages of the restaurant chain’s use of automated kitchens.

Oil futures fell and gold prices rose. The yield on the 10-year Treasury note fell. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded lower.

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Nigeria has become the third-largest debtor to the World Bank’s International Development Association as of June 30, 2024, surpassing its previous position as the fourth-largest borrower.

According to the World Bank, Nigeria’s loan exposure from the IDA rose to $16.5 billion as of June.

This was published in a financial statement dated June 30 2024, recently released by the World Bank.

The IDA, a key arm of the World Bank, provides concessional loans and grants to the world’s poorest countries.

These loans, characterised by low interest rates and extended repayment periods, are designed to promote economic growth, reduce inequalities, and improve living conditions in developing nations.

The loans to Nigeria increased by $2.2 billion compared to the $14.3 billion recorded at the end of 2023.

Ahead of Nigeria on the IDA debt list are Bangladesh, with $20.5 billion, followed by Pakistan with $17.5 billion exposure.

India occupies the fourth spot with $15.9 billion, while Ethiopia, Kenya and Vietnam followed with $12.2 billion, $12.0 billion, and $12.0 billion, respectively.

The three countries at the bottom of the list are Tanzania ($11.7 billion), Ghana ($6.7 billion) and Uganda ($4.8 billion).

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The U.K.'s Competition and Markets Authority (CMA) said Wednesday it determined Microsoft's (MSFT) hiring of former Inflection AI employees and related agreements with the AI startup do not pose a threat to competition.

The CMA had opened an investigation into the partnership to examine its impact on competition in the AI market and whether it effectively created a merger after Microsoft reportedly paid $650 million to license Inflection's tech and hired senior members of the Inflection team.

The antitrust regulator said that while it found the transaction could be considered a "relevant merger situation," that it "does not give rise to a realistic prospect of a substantial lessening of competition."

The investigation's closure could be good news for big tech companies amid regulatory scrutiny with a particular focus on AI partnerships.

Microsoft's partnership with Inflection AI is also reportedly under investigation in the U.S., with the Federal Trade Commission (FTC) examining possible violations of antitrust rules for mergers and acquisitions (M&A).

Microsoft shares were little changed in intraday trading Wednesday following the news, and have gained about 9% from the start of the year.

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