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UiPath (PATH) shares slipped Friday, handing back early morning gains, even as the enterprise automation and artificial intelligence (AI) software provider posted better-than-anticipated results and raised its revenue guidance.

UiPath reported fiscal 2025 second quarter adjusted earnings per share (EPS) of $0.04, with revenue up 10.1% to $316.3 million. Both exceeded estimates.

The company now sees full-year revenue in a range of $1.42 billion to $1.425 billion, up from a previously issued $1.405 billion to $1.410 billion. While that guidance marks an increase, it's still near Wall Street's current expectation, according to Visible Alpha data.

UiPath stock was recently dow nearly 3%. It's down about 50% in 2024 so far. The company said it was increasing its stock repurchase program by half a billion dollars, giving it an overall authorized total of $554 billion.

Annual recurring revenue (ARR) rose 19% to $1.55 billion, and net new ARR was $43 million.  Subscription services revenue jumped 21.7% to $194.7 million.

“Conversations with customers and partners deepen our conviction that there is an increasing need for AI and automation," founder and CEO Daniel Dines said.

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The Economic and Financial Crimes Commission, EFCC, has handed over 53 recovered vehicles and $180,300 to the Royal Canadian Mounted Police, RCMP, on behalf of the victims of financial crimes in Canada.

Ola Olukoyede, Chairman of the anti-graft agency handed over the recovered assets to the representatives of RCMP in Abuja on Friday, September 6.

Okukoyede said the vehicles were stolen from Canada and tracked to various car stands in Nigeria. Adding that nine of the vehicles were tracked to customs port, where they were awaiting clearance.

According to him, $164,000 was recovered for a Canadian, Elena Bogomas, in a romance scam, while $16,300 was also recovered for another Canadian, Sandra Butler.

He said one of the fraudsters used his proceeds to buy an estate and was later arrested, prosecuted and jailed, while the property was sold to recover the funds.

“It’s common knowledge that financial crimes have taken a new turn all across the globe.

The people who perpetrate these crimes do it in such a way that we discover that their activities are quite borderless and barbaric.

That’s why it has become very necessary and imperative for us to collaborate with our friends across the world. People share the same objective and mandate with us.

What the EFCC is doing today is doing on behalf of the Federal Government of Nigeria. It is also demonstrating the fact that the President has given us the mandate to extend our hands to ensure that this particular problem is resolved and that is exactly what we are doing here today,” he said.

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President Bola Tinubu has assured Nigerians of his commitment to replicate China’s infrastructure success in Nigeria.

The Special Adviser to the President on Media & Publicity, Chief Ajuri Ngelale in a statement on Friday, September 6, said the president disclosed this while addressing members of Nigerians in Diaspora Organisation in China (NIDO China) and the Nigerian community at the China World Hotel.

“What is uppermost in my mind is for you to continue representing Nigeria as good citizens, and I urge you all to be good ambassadors of our nation in China.

We will always celebrate our diversity. We cherish it, but this diversity is our commitment to serve. If it is about service, we must be good citizens.

I cannot tell you more, except from the embassy, that China is a very disciplined society and we have to be disciplined too. Without discipline and commitment, we cannot build a nation that is respected everywhere in the world.

We must exploit our diversity and be ready to do everything required of us within the laws of the communities that we live in and reflect a good image of our country.

Nigeria is going through reforms, and we are taking very bold and unprecedented decisions. For example, you might have been hearing from home in the last few days about fuel prices. [SWIPE]

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The U.S. plans to implement new export controls on advanced technologies, including quantum computing and semiconductor goods, as it continues to target demand from China, the Commerce Department said.

The move comes after the U.S. already imposed export controls on advanced semiconductor chips aimed at curbing China's access. Such curbs have already made it harder for American firms like Nvidia (NVDA) and Intel (INTC)  to sell artificial-intelligence (AI) chips to China.

Friday's controls, made for “national security and foreign policy reasons” according to the text of the proposed rule, are reportedly set to cover worldwide exports but exempt some nations such as Japan and the Netherlands, home of chipmaking equipment provider ASML Holding (ASML).

The curbs cover the export of quantum computing items, advanced semiconductor manufacturing equipment, technology that produces high-performance computing chips that can be used in supercomputers and components designed to produce metal or metal alloy components.

There will be a 60-day public comment period before the government issues its final rules.

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The executive governor of Ekiti State, Mr. Biodun Oyebanji, has approved a work-from-home arrangement for civil servants in the state in a bid to further cushion the effect of the current economic situation on workers.

According to a statement by the Special Adviser on Media to the Governor, Mr. Yinka Oyebode, under the new arrangement, officers on level 01- 07 will work from home three days a week.

Also, officers on level 08- 12 are to work from home two days in a week, while officers on level 13- 17 will work from home once in a week.

The new arrangement, which commences on Monday, September 9, 2024, excludes essential workers like teachers, core health workers in the hospitals and security personnel among others.

According to the Governor’s directive, each MDA is expected to produce workable schedule for staff in order to ensure that the new work- from- home arrangement does not jeopardize effective service delivery.

The arrangement will be in place tor a period of two months and is subject to periodic review in line with prevailing circumstances.

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A Republican-led legal battle against federal student loan forgiveness has left borrowers in a place that’s become familiar over the past few years: with their financial fates in the hands of judges.The latest twist came Thursday when a Georgia court ordered a temporary halt to President Joe Biden’s proposal for a second attempt at broad student loan forgiveness while the case is decided. The proposal would cancel at least some of the debts held by 30 million borrowers with federal loans.

Biden and his opponents have battled over the president's student loan programs for the past several years. Since 2021, the Department of Education under Biden has made numerous rules changes to the federal student loan system aimed at making it easier for borrowers to have their loans forgiven.

The most recent attempt at outright forgiveness targeted certain types of borrowers, including borrowers who owe more than what they did when they started repaying their loans and those who would qualify for forgiveness under existing programs but haven’t applied.

Missouri Attorney General Andrew Bailey this week filed a lawsuit in federal court seeking to block the program, which, according to a notice published by the Department of Education, was set to go into effect as soon as October. 

Biden and other Democrats argue that Americans should be able to benefit from higher education without being financially crushed by student debt for the rest of their lives. The administration has forgiven at least $168.5 billion for 4.8 million borrowers, including public servants, people with disabilities, and borrowers who attended for-profit colleges that were later shut down.But while some of Biden’s efforts have succeeded, others have been felled in the courts. The biggest blow came in June 2023 when a coalition of Republican-led states, led by Missouri, got the Supreme Court’s conservative majority to strike down a Biden program that would have forgiven up to $20,000 per borrower. 

After that defeat, Biden began efforts to offer student loan relief through other means, including launching the Saving on a Valuable Education (SAVE) Plan. This plan forgives the debts of borrowers who make income-based payments for 10-25 years, depending on how much was borrowed and whether the loans were for graduate school.

The department also gave broad-based student loan forgiveness a second try through an administrative rulemaking process, resulting in the plan blocked on Thursday.Conservatives have opposed student loan forgiveness, arguing that it’s unfair to people who already paid their loans back and that policy should instead focus on lowering the cost of college. In court, forgiveness opponents have challenged the authority of the administration to cancel loans, arguing that they shouldn’t be allowed to without Congressional legislation.The Biden administration has argued that Congress has already authorized the Secretary of Education to cancel student debt. In defending the SAVE plan and the latest broad forgiveness program, the administration points to the 1965 Higher Education Act establishing the federal student loan program.

The lawsuit adds more uncertainty for borrowers, some of which were already affected by a previous court decision that at least temporarily blocked the SAVE repayment plan.

Some 8 million borrowers enrolled in the SAVE plan are in forbearance, with no payments required, while the legal battle plays out. Both the SAVE and forgiveness cases could ultimately be decided by the Supreme Court.

“The best advice I can give borrowers right now is to not make any drastic decisions,” said Betsy Mayotte, president of the Institute of Student Loan Advisors, a nonprofit group that advises borrowers. “This situation is truly uncharted territory and it’s going to take the Department of Education and the courts some time to work this through.”

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