Boeing to Plead Guilty to Fraud Conspiracy Charge Over 737 Max Crashes
Boeing has agreed to plead guilty to a criminal fraud conspiracy charge after the US government found that the company violated a reform deal following two fatal crashes involving its 737 Max planes, which resulted in the deaths of 346 passengers and crew members. The Department of Justice (DoJ) announced that Boeing would also pay […]
Samsung Electronics Forecasts 15-Fold Profit Surge Amid AI Boom
Samsung Electronics anticipates a dramatic 15-fold increase in profits for the three months ending June 2024, compared to the same period last year. The surge is driven by the rising prices of advanced chips amid an artificial intelligence (AI) boom, boosting the company’s second-quarter outlook. The South Korean tech giant, the world’s leading maker of […]
Nigerian Exchange Group Appoints Jude Chiemeka as CEO of Nigerian Exchange Limited
Nigerian Exchange Group (NGX Group) Plc has appointed Mr. Jude Chiemeka as the CEO of its operating exchange subsidiary, Nigerian Exchange Limited, effective July 1, 2024. This appointment was approved by the Securities and Exchange Commission (SEC). Since January 1, 2024, Chiemeka has been serving as the acting CEO of NGX, following Mr. Temi Popoola’s […]
NNPC Declares Emergency to Combat Oil Production Challenges
The Nigerian National Petroleum Company (NNPC) Limited has declared a state of emergency to tackle the critical issues affecting crude oil production in Nigeria. On Tuesday, during the 23rd Nigeria Oil and Gas Conference and Exhibition (NOG Energy Week), Mele Kyari, Group Chief Executive Officer of NNPCL, announced this decisive action. “We have decided to […]
Webtoon Entertainment Sets $2.67 Billion Market Value Ahead of US Nasdaq Listing
Webtoon Entertainment, the world’s largest web comic platform, has set its market value at $2.67 billion (£2.11 billion) in anticipation of its US listing. The company’s shares are scheduled to begin trading on the Nasdaq stock exchange on 27 June at $21 each, the upper limit of their marketed range. Based in Los Angeles, Webtoon […]
Dangote Industries Accuses International Oil Companies of Sabotage
Dangote Industries Limited (DIL) has accused International Oil Companies (IOCs) in Nigeria of deliberately obstructing the operations of the Dangote Oil Refinery. Devakumar Edwin, Vice President of Oil and Gas at DIL, made this assertion during a training session for energy journalists, alleging that IOCs are inflating prices for locally sourced crude oil. “While the […]
Boeing CEO to Address Safety Concerns in Senate Hearing After Mid-Air Emergency
Boeing’s CEO Dave Calhoun is set to testify before US lawmakers on Tuesday, addressing concerns about the company’s safety culture following a mid-air emergency in January. In his prepared remarks for the Senate subcommittee hearing, Calhoun acknowledges, “Our culture is far from perfect, but we are taking action and making progress. We understand the gravity.” […]
Judge Orders Liquidation of Alex Jones’ Personal Assets for Sandy Hook Families
A judge has ordered the liquidation of Infowars host Alex Jones’ personal assets, paving the way for potential payouts to the families of the victims of the 2012 Sandy Hook mass shooting. However, US Bankruptcy Judge Christopher Lopez ruled against liquidating Jones’ company, Free Speech Systems, which owns the Infowars brand. The families have won […]
Tesla Shareholders Endorse Elon Musk’s $56 Billion Compensation Package Amid Controversy
Tesla shareholders have endorsed a record-breaking compensation package for CEO Elon Musk and approved the relocation of the company’s legal headquarters to Texas. This development marks a significant victory for Musk, who had vigorously campaigned for the payout, potentially worth up to $56 billion (£43.9 billion) depending on Tesla’s share price. Earlier this year, a […]
US Expands Sanctions on Russia Ahead of G7 Summit
The US has expanded its sanctions on Russia, intensifying restrictions on banks engaged with sanctioned entities. This move builds on a December program targeting foreign banks aiding Russia’s war effort in Ukraine. The new measures also include sanctions on the Moscow Stock Exchange, which halted trading in dollars and euros as a result. President Joe […]
