News at its Zenith
News at its Zenith
By Akinsuroju Olubunm Ethereum L2 innovation: Blast testnet launch attracts $1.3 Billion as developers eye airdrop bonanza In a significant development for Ethereum’s layer-2 scaling, the Blast testnet has debuted amid a surge of enthusiasm, drawing over $1.3 billion from users eager for yield and airdrop rewards. Despite initial controversy surrounding Blast’s launch, the project […]
European Union. Image: punchng.com Counterfeit goods cost Europe €16 billion. According to a report released on Tuesday by the European Union’s Intellectual Property Office, counterfeit goods—mostly clothing—cost the European economy 16 billion euros annually and cause the loss of roughly 200,000 jobs. Based on statistics from 2018 to 2021, the agency’s results demonstrate that counterfeit goods have the greatest negative impact on the apparel industry, costing 12 billion euros ($13.1 billion) a year, or 5.2% of total sales. One billion euros are lost on toys, while three billion euros are lost on counterfeit cosmetics. However, the EUIPO issued a warning, stating that “Counterfeiting, like any illegal activity, cannot be accurately measured.” Its conclusions were based on the quantity of goods confiscated by law enforcement and the proportion of Europeans who acknowledged purchasing fake goods in each member state of the EU. According to a June 2023 research, one-third of Europeans […]
Image: GETTY IMAGES US-owned container ship gets struck by a Houthi missile The US claims that ballistic missiles fired by Houthi rebels off the coast of Yemen have struck a cargo ship owned by the US. The United States military headquarters for the Middle East (Centcom) stated that the ship Gibraltar Eagle reported “no injuries or significant damage”. The ship, flying the flag of the Marshall Islands, is still travelling through the Gulf of Aden backed by Iran. Since November, Houthis have begun assaulting ships in opposition to Israel’s conflict with Hamas. Shipping business Eagle Bulk Shipping claimed the bulk cargo was carrying steel products and was around 160km (100 miles) offshore in the Gulf of Aden when it was hit. The ship was reported to have “suffered limited damage to a cargo hold but is stable and is heading out of the area” . Hours earlier Centcom stated that another missile, […]
The Museum of Far Eastern Art in Geneva has more than 9,000 artefacts of Japanese and Chinese culture. Image: BBC British brothers broke into a Swiss museum. In order to “clear a debt,” two British brothers admitted to breaking into a Swiss museum and taking famous Chinese Ming period treasures valued at millions of dollars, the court heard. A trio of thieves broke through the main door of the Museum of Far Eastern Art in Geneva in June 2019, according to the prosecution. They used tools. The theft included two bowls and two vases from the fourteenth century. In a Geneva court, Stewart and Louis Ahearne acknowledged their involvement. The two, who are from South East London, went before a panel of three judges on Monday at the Palais de Justice in Geneva to answer to allegations of trespassing, stealing, and property damage. Although they resisted being extradited from the UK, the Home Secretary authorised it in 2022. A last-minute request for the trial to […]
By Akinsuroju Olubunmi EFCC nabs Ex-minister over alleged N3.6bn loan fraud The Economic and Financial Crimes Commission (EFCC) has apprehended Charles Ugwu, a former Minister of Commerce and Industry, and Chief Geoffrey Ekenma on charges of conspiracy and loan fraud amounting to N3.6 billion. Ugwu, appointed by late President Umaru Yar’Adua and later dismissed during […]
JAMB. Image: punchng.com JAMB permits free registration for those with disabilities. According to the Joint Admission and Matriculations Board, there is no fee to register for the 2024-2025 Unified Tertiary Matriculation Examination for Persons Living with Disability. This was revealed by Ishaq Oloyede, the JAMB Registrar, when he opened registration to interested applicants nationwide. In addition to declaring that registration for the 2024 matriculation exam will open on Monday, or today, Oloyede noted that as a support, JAMB will provide free application paperwork to all categories of PWDs. “Jamb will provide free application documents to all categories of Persons Living with Disabilities in the advertisement for the 2024 UTME/DE in order to support the PLWD,” the official stated. All blind applicants will now receive audio books, according to Oloyede, who revealed that steps have been taken to guarantee a seamless exercise for all candidates. The registrar described the project as a digital take on the classic reading book, adding that it will be available in widely used audio formats including MP3, WMV, and WMA and work with any device that can stream audio files. During the first National Conference on Equal Opportunity of Access to Higher Education in Nigeria, the idea of providing audiobooks was proposed. In addition to blind candidates, those with Down syndrome, autism, dyslexia, and attention deficit hyperactivity disorder are also eligible for the free registration, according to the testing organisation. He declared, “The following candidate categories will now be listed under the disability group: attention deficit hyperactivity disorder (ADHD), Down syndrome, autism, and dyslexia disorder.”
By Akinsuroju Olubunmi Fire engulfs shops: Adamawa business complex faces devastation In an unfortunate incident, a fire engulfs and wreaked havoc on a business complex, destroying seven shops in the early hours of Wednesday in Adamawa State. Situated in Numan Local Government Area, the cause of the destructive fire is yet to be determined. […]
By Akinsuroju Olubunmi Crafting Success: Nigeria’s artisan alliance with Abu Dhabi Crafting Success: Nigeria’s artisan alliance with Abu Dhabi In a collaborative effort, the Nigerian government is on the verge of finalizing an agreement with Abu Dhabi’s government in the UAE. The objective is to supply the Gulf Kingdom with a skilled workforce […]
CBN appoints new managers. Image: thenationonlineng.net A new management team for the Union, Keystone, and Polaris banks. The Central Bank of Nigeria (CBN), which stated yesterday that the boards and managements of three banks had been dissolved, has selected new CEOs to take charge of Union, Keystone, and Polaris banks. In the face of the restructuring, the apex bank took action to preserve the continuity and stability of the impacted institutions. It stated that the appointments are effective right away. The appointments were made public by CBN Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, in an early-morning announcement. She appointed Mannir Ubali Ringim as Executive Director and Yetunde Oni as Managing Director/Chief Executive Officer of Union Bank. Hassa Imam serves as the Managing Director and Chief Executive Officer of Keystone Bank, while Chioma A. Many is the Executive Director. Lawal Mudathir Omokayode Akintola is the Managing Director and Chief Executive Officer of Polaris Bank, while Chris Onyeka Ofikulu is the Executive Director. “The appointments take immediate effect,” Ms. Sidi Ali stated in the statement, reiterating the CBN’s dedication to taking prompt action and causing the least amount of inconvenience possible. “The CBN’s […]
Image: EPA-EFE/REX/SHUTTERSTOCK Jobs at MGM, Prime Video, and Twitch are cut by Amazon. Hundreds of employees will be let go by Amazon in its studios, Twitch, Prime Video, and MGM. CEO Dan Clancy has announced that around 500 Twitch workers—a third of the streaming platform’s workforce—will be let go. According to Amazon, another hundred workers at MGM Studios and Prime Video will likewise lose their jobs this week. Despite record revenues, the IT behemoth let go of more than 27,000 employees in 2023. When Twitch first launched, users could watch and discuss online video gameplay. In 2014, Amazon purchased it for $970 million (£585 million at the time). Mr. Clancy stated he was taking the “painful step to reduce our headcount” in an email to staff members in an effort to “build a more sustainable business”. The business, he continued, gave streamers $1 billion in 2023, but it had “conservative predictions of how we expect to grow in the future.” Amazon’s most recent earnings report shows that the company made $9.9 billion in profit from July to September. It increased from $2.9 billion over the same time frame in 2022. Senior vice president of the division Mike Hopkins wrote the following to staff members at Prime Video and Amazon MGM Studios via email: “We’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investments and focus on content and product initiatives that deliver the most impact. “ It was a “difficult decision to make,” Mr. Hopkins continued. The email stated that employees both domestically and internationally are impacted by job losses. In 2021, Amazon acquired the century-old MGM Studios for a sum of $8.45 billion. It declared in December of last year that it would begin airing advertisements on Prime Video on February 5, 2024. The layoffs at Amazon are the most recent in a lengthy line of layoffs in the technology industry, which had grown quickly as more people used digital services during the epidemic but then shrank when that enthusiasm subsided. US employment consulting firm Challenger, Grey & Christmas reports that the tech industry eliminated 168,032 jobs in 2023, a 73% increase from 2022.
