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Instablog9ja
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Operatives of the Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested 44 suspected yahoo boys at different locations in Ilorin, Kwara State.
They were arrested on Friday, September 6, 2024, at Sango, Kulende, Taxaco, and Harmony Estate, all in Ilorin, following credible intelligence regarding their alleged involvement in internet-related offenses.
Items recovered from them include six different brands of exotic cars, laptops, smartphones, and charms.
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Instablog9ja
1 h
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A Vlogger has revealed how her mum displayed her doting side by putting everything aside to accompany her to the venue of an interview for her own safety.
She shared a photo of her mum seated a close distance from where she stood, as her mother’s gesture left her shocked because of the distance they traveled.
Instablog9ja
3 hrs
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The National President of the Association of Small Business Owners of Nigeria (ASBON), Mr Femi Egbesola, has said that at least eight million small businesses in Nigeria have shut down in 18 months due to the economic hardship in the country.
Egbesola said that approximately twenty percent of businesses in the country were compelled to stop operations from January 2023 to June 2024, attributing this alarming trend to the economic policies implemented by President Buhari and Tinubu’s administrations.
Speaking in an exclusive interview with SaharaReporters on Friday, September 6, he said: “We have had cases where businesses shut down. We have around 40 million small businesses in the country and with 20% already shut, it would mean that we have about 8 million businesses shut.
Many persons have di3d from shutting their businesses, some could not fulfil their loan obligations, so they di3d from the pressure. Others are in the hospital as of now.
A state of economy should be declared as we are the highest employer of labour (referring to small-scale businesses). We account for 86% of the country’s workforce and you can imagine what happens when small businesses cannot survive.
Businesses are now downsizing, for instance, I used to have 52 workers but now I have only 14. Imagine that kind of downsizing due to economic issues.”
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Investopedia
8 hrs
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Regulators in the U.K. are investigating Live Nation Entertainment's (LYV) Ticketmaster unit over reported customer issues with tickets purchased for the recently announced reunion tour of the 90s band, Oasis, specifically whether the company's "dynamic pricing" feature may have violated consumer protection laws.
The Competition and Markets Authority (CMA) said that it wants to hear from fans who feel they may have been misled during the purchasing process about what price they would end up paying or pressured to buy tickets out of fear that the price could go up soon after, both of which could be deemed violations of consumer protection laws.
The agency said the opening of its investigation doesn't necessarily mean Ticketmaster broke any laws, and said it wants to hear from those affected over the next two weeks as it also gathers information from Ticketmaster and other parties.
"It’s important that fans are treated fairly when they buy tickets, which is why we’ve launched this investigation. It’s clear that many people felt they had a bad experience and were surprised by the price of their tickets at check-out," said CMA Chief Executive Sarah Cardell. "We want to hear from fans who went through the process and may have encountered issues so that we can investigate whether existing consumer protection law has been breached."
The UK regulator also said it has previously called for more extensive protections for ticket buyers, and that it is considering broader action against the practice of dynamic pricing—in which prices can change rapidly based on demand—in industries aside from ticketing.
Live Nation and Ticketmaster are already facing legal action in the U.S., as the Department of Justice filed a lawsuit in May accusing the company of monopolistic behavior and violating antitrust laws. The suit claimed Live Nation often threatens or retaliates against venues that choose a ticket seller other than Ticketmaster, and said its fees are excessive for consumers.
Live Nation shares were nearly 1.2% lower at $93.10 Friday afternoon.
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Investopedia
11 hrs
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Shares of Super Micro Computer (SMCI) dropped Friday after J.P. Morgan analysts downgraded the server maker's stock, citing concerns over the company's delayed annual report.
The analysts downgraded Super Micro's stock to "neutral" from "overweight" and cut their price target to $500 per share from $950—valuing the stock more similarly to other hardware manufacturers with "lower growth trajectories to account for the uncertainty."
Super MIcro's shares were recently down about 6% to near $389 apiece, leaving them up some 35% this year. Wall Street's mean price target is just above $450, according to Visible Alpha.
Super Micro recently delayed the release of its annual report, saying it needed more time to "complete its assessment of the design and operating effectiveness of its internal controls over financial reporting."
JP Morgan's analysts said the delay, which isn't Super Micro's first, could have an impact on the behavior of customers who could be looking for better prices from the server maker. They noted the delay could also cause an "overhang," recommending new investors "remain on the sidelines" until the uncertainty is resolved.
There is "not a clear rationale" for new investors to buy into Super Micro's stock until the company's regulatory issues are resolved," they wrote.
The stock has been under pressure following lackluster earnings. A report in late August from short seller Hindenburg Research accusing the company of “accounting manipulation, sibling self-dealing and sanctions evasion."
JPMorgan analysts wrote when the report was released that they believed there was "limited evidence" of problems with Super Micro's accounting, and said other issues raised like not communicating sales properly to investors do "not immediately suggest any wrongdoing."
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Investopedia
12 hrs
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Qualcomm (QCOM) shares fell following a report that the company has looked into buying segments of Intel (INTC), potentially including its PC chip design business.
on Friday the maker of semiconductors for mobile devices has explored the idea of purchasing different parts of Intel. One of its sources said that the PC design unit is of “significant interest,” although they are considering all of Intel’s design operations.
The report is the latest to describe possible deal activity for Intel, which is seeking to reinvigorate interest in its shares. One recent story indicated that it might sell some of its stake in MobilEye (MBLY); another discussed options regarding its foundry business. Intel's shares were recently down about 2%, whileQualcomm's were off more than 3%.
Reuters' Friday story quoted an Intel spokesperson as saying Qualcomm has not approached the company about any acquisitions, and that Intel is “deeply committed” to its PC business. Qualcomm did not immediately respond to Investopedia's request for comment.
Shares of Qualcomm are up some 9% year-to-date, while Intel shares have lost about 60% of their value.
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