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Instablog9ja
18 m
12
A lady has reacted to paternity fra¥d allegations involving footballer Kayode Olanrewaju and his estranged wife.
She said If he is not the biological father of his three children, then he is the problem and he should thank his wife for giving him the opportunity to be a father regardless.
Investopedia
18 m
12
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GameStop's (GME) second quarter sales declined year-over-year, missing Wall Street's expectations, but the video game retailer managed to swing to a surprise profit.
Revenue in the latest was $798 million, down 31% year over year and short of the Visible Alpha analyst consensus. Net income jumped to $14.8 million, 4 cents per share, compared to a loss of $2.8 million, or 1 cent per share, a quarter earlier. Analysts had expected the company’s loss to widen year-over-year.
Shares of GameStop fell more than 3% ahead of the results Tuesday and are down a bit less than 1% after the bell. The stock is up nore than 30% in 2024, due in part to spikes in its share price earlier this year driven by posts from the meme stock influencer known as "Roaring Kitty.”
GameStop said it would not hold an earnings call, and the company did not release guidance.
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Instablog9ja
1 h
10
Skitmaker NastyBlaq has tearfully announced the passing of his beloved mother.
These past few days have been filled with nothing but sadness in my heart concerning the passing of my beloved mother 8. I pray God gives me the strength to heal.
This is a great loss in my family and as much as this saddens our hearts we know she’s gone to a better place.
Rest in peace my first love, the only reason for my motivation, you will surely be missed less
Click to watch
Investopedia
1 h
13
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Crude oil futures slipped roughly 4% in trading Tuesday after OPEC—a dominant coalition of oil-producing nations—cut back on its demand outlook and growth projections for this year and the next.
November contracts for Brent crude futures slipped to $68.68, a level not seen since May 2023, while October contracts for U.S. benchmark West Texas Intermediate Texas (WTI) dropped to $65.27, witnessed last in March 2023.
Oil prices have faltered in recent weeks because of geopolitical tensions and potential weather-related production changes. That prompted OPEC+, which comprises OPEC countries and others, including Russia, to delay its plan to boost oil production after a meeting last week.
World oil demand is expected to grow by 2 million barrels per day (B/D) to about 104.2 million B/D in 2024, slightly lower than OPEC's previous projection and the second downward revision to the number. The oil producers expect the demand to moderate further next year, growing at 1.7 million B/D.
And while oil demand seems to be slowing, OPEC said these levels were still far greater than the pre-pandemic historical average of 1.4 million B/D.
However, there are some concerns about the sustainability of demand from China, given the economic challenges the world's second-largest consumer of oil is currently facing.
"Headwinds in the real estate sector and the increasing penetration of LNG trucks and electric vehicles are likely to weigh on diesel and gasoline demand going forward," OPEC said about oil demand from China in its monthly report released Tuesday.
The resilience of U.S. consumers is helping oil as well. Despite some weakness in manufacturing demand, OPEC expects U.S. oil demand to grow in 2024, with upside potential coming from "ongoing support from steady private household consumption throughout 2H24."
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Instablog9ja
2 hrs
10
An Ikeja Special Offences Court has sentenced Marco Ramirez, an American businessman, to 74 years in prison for fraud. Ramirez was convicted on Tuesday on charges brought against him by the Economic and Financial Crimes Commission (EFCC).
Originally arraigned on a 12-count charge, Ramirez was re-arraigned on June 24, 2022, on a 16-count charge before presiding judge Mojisola Dada. He pleaded not guilty to all charges.
Ramirez, along with his companies—USA NOW LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP—was prosecuted for a $1,235,000 EB-5 visa scam. He was accused of obtaining money from his victims as processing fees for investments in his company, which he claimed would make them eligible for a U.S. green card. However, he allegedly failed to fulfill his promises.
Additionally, Ramirez faced a separate nine-count charge related to a $368,698.24 fraud.
In her judgment, the judge ruled that the prosecution had proven its case beyond a reasonable doubt, sentencing Ramirez to various terms of imprisonment on the different counts of the charges.
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Investopedia
2 hrs
15
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Ally Financial (ALLY) stock sank sharply after the bank's chief financial officer said at an investor conference that consumers are struggling with inflation and that Ally Bank's credit challenges have "intensified" during the current quarter.
Ally CFO Russ Hutchinson said Tuesday that Ally's typical borrower is "struggling with a high inflation and cost of living, and now, more recently, a weakening employment picture," according to a transcript of Tuesday's Barclays event provided by AlphaSense.
Ally shares were down about 18% in late Tuesday trading, touching their lowest levels since January.
A particularly difficult area of Ally's loan base is in the auto market. Hutchinson said Ally experienced a rise in delinquencies of about 20 basis points above what Ally expected for the last two months Net charge-offs — the debts a financial institution writes off on the assumption they will never be repaid — were about 10 basis points higher than Ally expected across July and August.
Hutchinson said Ally is expecting its rate of net charge-offs to rise in the coming months because of the size of the pool of borrowers Ally believes is struggling, especially those with loans over two months past due.
Ally reduced its exposure to the loan world with the sale of its Ally Lending arm earlier this year to Synchrony Financial (SYF).
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