Use this space to put some text. Update this text in HTML

468x60 banner ad

Blog Archive

Copyright 2016 @ Breaking News. Powered by Blogger.

Subscribe To Our Newsletter

for advert placement call 08024760741 and send an email to lekanbabarinde@gmail.com

Friday, June 24, 2016

EU referendum results: Britain votes to leave the EU

Brexit is official! With 16,737,273 votes for Leave, Britain has voted to leave the EU, breaking the winning post in the referendum. Leave won 52% to 48%, with England and Wales voting for Leave while Scotland and Northern Ireland voted for 'Stay'.


This exit has plunged the pound against the dollar to its lowest level since 1985 as Britain lurched towards Brexit. Sterling has crashed nearly 10% to $1.34, and by more than 6% against the euro. Gold is up nearly by 6% this morning.
US markets were expected to open down 550 points on Friday morning. Trading in Tokyo was halted after stocks plunged nearly 7 per cent, while South Korea's Kospi tumbled about 4 per cent.
Crude oil prices also took a hit. As results poured in, a picture emerged of a sharply divided nation: Strong pro-EU votes in the economic and cultural powerhouse of London and semi-autonomous Scotland were countered by sweeping anti-Establishment sentiment for an exit across the rest of England, from southern seaside towns to rust-belt former industrial powerhouses in the north.

Nigel Farage, leader of the UK Independence Party, has declared June 23 Britain's 'Independence Day'. 
One expert forecast the UK, will plunge back into recession.

Kathleen Brooks, of City Index, predicted shares in big banks would tumble at least 10% when markets open. She said:
“This is bad news for the country, the economy and the UK’s position in the world order. “In other words, for now at least we should batten down the hatches.”

 Meanwhile, in Europe, far-right leader Geert Wilders has reportedly called for a Dutch EU Referendum “as soon as possible.”
The Party said: “The United Kingdom is leading the way to the future and liberation. The time is now for a new start, trusting in its own strength and sovereignty. Also in the Netherlands” 

Prime Minister David Cameron, who called the referendum and led the 'remain' campaign, faces an uncertain future with this result.

Former London Mayor Boris Johnson. If 'leave' wins, he may have no choice but to resign.

'If the prime minister loses this I don't see how he can survive as prime minister,' said Scottish National Party lawmaker Alex Salmond.


Jose Mourinho tables £35m offer for Arsenal's Aaron Ramsey

Man U manager Jose Mourinho is set to increase the bad blood between him and Arsenal coach Arsene Wenger as he has tabled a £35m bid for Arsenal and Wales midfielder Aaron Ramsey.

According to the Sun UK, Mkhitaryan of Dortmund is Mourinho's first choice, but after watching Ramsey at the Euros, has ordered Man U executive Ed Woodward to trash out a deal for Arsene Wenger's prized asset. 
Mourinho wants him to be Manchester United’s answer to Frank Lampard, and believes he could achieve for Man U what Lampard achieved for Chelsea.

Raiding Premier league rivals Arsenal for Ramsey  would be one of Mourinho’s boldest ever transfer moves as he knows he would face fierce resistance from Gunners boss  Wenger.

Breaking! David Cameron steps down as UK's Prime Minister following UK vote to leave the EU


UK Prime Minister David Cameron resigned today after his devastating defeat in the EU referendum. He had fought strongly for Britain to remain in the EU but lost. He said he will stay in post till about October this year when a new Prime Minister is chosen. He said the country requires fresh leadership.

Cameron's voice broke as he spoke outside Downing Street this morning with his wife Samantha in tears next to him. “We should aim to have a new prime minister in place by the start of the Conservative Party conference in October," he told the media after the country voted to leave the European Union.

The Brexit campaign officially passed the winning post in the EU referendum at around 6am today, triggering a political earthquake and panic in the markets. Nigel Farage earlier declared it to be 'independence day' and a 'victory for real people' as the Leave campaign racked up votes across England and Wales - defying the verdict of London, Scotland and most of the big cities.

The Pound - which soared in value earlier after Nigel Farage admitted he thought Brexit had lost - has nose-dived against US dollar to its lowest level for 31 years. And more than £100billion was wiped off the FTSE 100 within minutes as markets opened on Friday as Britain's decision caused turmoil across global exchanges. 

Monday, June 20, 2016

Investors inject N760bn into stock market in three days

The unveiling of the new foreign exchange guidelines for the country by the Central Bank of Nigeria has prompted stock investors to pump huge amount of funds into the market, STANLEY OPARA writes

The Nigerian Stock Exchange reacted positively to the news of the unveiling of the new foreign exchange guidelines by the CBN last Wednesday as the market capitalisation soared by over N760bn, with investors committing huge sums to acquire more shares.

The move by investors to acquire more stocks at this time is hinged on their desire to re-enter the market when share prices are at their lowest, as the market is expected to recover after months of persistent fall.

Prior to the three-day straight gains last week, the NSE market capitalisation had stood at N9.284tn on Tuesday. But as of the last day of trading last week on Friday, the value of the market had soared to N10.044tn.
Other variables like the All-Share Index, market turnover, share volume and deals also recorded significant appreciation.

Between Tuesday and Friday, the NSE ASI rose from 27,034.05 basis points to 29,247.27 basis points; the market turnover increased from N2.424bn to N6.791bn; the share volume rose from 170.686 million to 628.752 million; while the number of deals appreciated from 3,153 to 5,965.

On Wednesday when the market got wind of the release of the new forex guidelines, the ASI rallied by 3.17 per cent, boosting the market capitalisation by N295bn, as the value of the market rose to N9.579tn from N9.284tn, while the NSE ASI hit 27,891.96 basis points from 27,034.05 basis points.

Aggregate of 588.427 million shares worth N3.477bn were traded in 5,088 deals at the close of trading on the Exchange.

The day after, the market gained more than N205bn after 32 firms made it to the gainers’ chart, which boosted the NSE ASI by 2.14 per cent.

The NSE market capitalisation soared to N9.784tn from N9.579tn, while the index rose to 28,489.89 basis points from 27,891.96 basis points. Total of 618.248 million shares valued at N5.41bn were traded in 6,757 deals.

On Friday, the market capitalisation moved up to N10.044tn, while the NSE ASI hit 29,247.27 basis points. The number of deals rose to 5,965, while the volume of shares traded also rose to 628,752 million worth over N6.7bn.

To this end, the President and Chairman of Council, Chartered Institute of Stockbrokers, Mr. Oluwaseyi Abe, said that the coast was already clear for investors to shore up their holdings as the market had begun to rebound.

Abe noted that there was nothing unusual about the current state of the market as it essentially mirrored the economy and it was moving in phases.

He added, “It is only normal for the market to swing upward and downward because that is what makes it a market. It is absolutely normal. In any case, the direction of the market at any given time is the reflection of the economy and it’s been known that the economy has not been doing well lately.

“So, I feel it is even the best time to invest in the capital market, because the economy is now on the steady path of rebound.”

To this end, analysts at Meristem Securities Limited said the operation of a flexible forex system in an import-dependent economy such as Nigeria would certainly expose the naira to significant depreciation pressures, especially in the days and months to ahead.

“Nonetheless, we consider the new development a bold step in the right direction as it greatly reduces the pressure on the nation’s FX reserves, while also presenting market participants with a liquid and transparent exchange rate system,” they added.

Forex trading under the new guidelines is scheduled to commence today (Monday).

Also commenting, the President, Constance Shareholders Association of Nigeria, Alhaji Shehu Mikail, said unhealthy economic policies of the current government prior to now had been the bane of the country’s capital market.

According to him, the capital market is driven by information and will continue to react sharply to policy swaps.

He said the unfavourable policies of government, especially in the area of foreign exchange management, had fuelled the negative market sentiment by foreign as well as local investors in recent times.

It will be recalled that the Nigerian stock market crashed by N1.732tn in one year of the Muhammadu Buhari-led Federal Government.

Data showed that the NSE market capitalisation on May 28, 2015, a day before Buhari took over from former President Goodluck Jonathan, was N11.658tn, while it was N9.926tn on May 27, 2016, while the All-Share Index also crashed to 28,902.25 basis points from 34,310.37 basis points.

Market capitalisation is the total market value of the shares outstanding of a publicly traded company.

Investors in the country’s capital market (equity category) lost over N1.053tn in the first quarter of 2016.

During the first three months of this year, the equities market depreciated by 10.79 per cent.

As of the first day of trading this year (January 4), the NSE market capitalisation stood at N9.757tn, while the All-Share Index was 28,370.32 basis points.

But as of March 31, the market capitalisation and All-Share Index had crashed to N8.704tn and 25,306.22 basis points, respectively.

Equity investors in the country’s capital market had in the first seven trading days of 2016 lost N804tn of their investments’ worth, as the market capitalisation closed at N8.953tn.

The All-Share Index also dropped from 28,370.32 basis points recoded on the first day of trading in the year to 26,034.94 on the seventh trading day.

The market capitalisation of the NSE fell by N811bn in the first 10 weeks of trading this year.

The NSE market capitalisation dropped from N9.75tn on January 4, 2016 to N8.939tn 10 weeks into the year, while the All-Share Index also closed at 25,988.40 basis points from the 28,643.67 basis points recorded on the first trading day of the year.

Investors also made huge losses in the Nigerian equities market last year as the market capitalisation (equities only) of the NSE shed a total of N2.354tn between December 2014 and December 2015.

Photos: Ooni of Ife and his wife attend golf tournament in the US




Zara Holland leaves Love Island reality show, days after being stripped off Miss Great Britain title for having sex on TV



Zara Holland, former Miss Great Britain winner, took to her Twitter handle to announce her sadness at leaving the dating program after hearing of her mother's illness, days after she lost her Miss GB crown for having sex with a housemate.

In a statement, published by Mirror UK, she said: "I'm so sad to leave the villa but it's important for me to get home and spend time with my mum while she gets better.


"I've had the time of my life on Love Island and would like to thank all of my fellow Islanders and the production team for all their support."

ITV added: "Our thoughts are with her and her family and we send all of our best wishes

After being told of the news of her crown being taken from her, off-camera, Zara returned to the villa in a fluster of emotion. She burst into tears before calling everyone to hear her cry.

Rivers, Bayelsa, Cross River and Akwa Ibom states thrown into darkness following breakdown of National Grid

Four states, namely Rivers, Cross River, Bayelsa and Akwa Ibom have been thrown into darkness following the collapse of the National Grid which occurred yesterday June 19th.

According to PM News, the Head of Corporate Communications at the Port Harcourt Electricity Distribution Company, PHED, which supplies electricity to these states, yesterday notified its consumers in the four states that the National Power Grid had collapsed and so they will not be able to supply them power until the grid is repaired. He said PHED would however source for power from other alternative sources to consumers that are willing to pay for the power.

Donald Trump: Forget about the polls and the GOP infighting, I’ll win in November ‘one way or the other’

Presumptive Republican Presidential nominee Donald Trump told NBC’s “Meet the Press” on Sunday that he will win the U.S Presidential election in November 'one way or the other'.

The Billionaire businessman said everyone should forget the polls, forget the short list of important endorsements and forget the GOP infighting, that he'll win the elections.


“We're going to go onto a great victory. It would be nice if the Republicans stuck together,” 

“I'm a different kind of a candidate, I think that I win either way. I can win one way or the other,” he said.

Monday, June 13, 2016

Microsoft buys LinkedIn for $26.2B in cash, as Bill Gates makes big move into social media enterprise

Microsoft, today, announced that it is acquiring LinkedIn, the social network for professionals with 433 million users, for $26 billion, on $196 per share, in cash. The transaction has already been approved by the boards of LinkedIn and Microsoft.LinkedIn is keeping its branding and product. It will become a part of Microsoft’s productivity and business processes segment. LinkedIn’s CEO Jeff Weiner will report to Microsoft CEO Satya Nadella. Read the letter Microsoft CEO Satya Nadella sent to employees about the buy after the cut.Team,I'm excited to share that today Microsoft announced a deal to acquire LinkedIn. You can see how Jeff Weiner, the CEO of LinkedIn, and I envision the opportunity ahead in this public presentation.This deal brings together the world's leading professional cloud with the world's leading professional network. I have been learning about LinkedIn for some time while also reflecting on how networks can truly differentiate cloud services. It's clear to me that the LinkedIn team has grown a fantastic business and an impressive network of more than 433 million professionals.Given this is the biggest acquisition for Microsoft since I became CEO, I wanted to share with you how I think about acquisitions overall. To start, I consider if an asset will expand our opportunity — specifically, does it expand our total addressable market? Is this asset riding secular usage and technology trends? And does this asset align with our core business and overall sense of purpose?The answer to all of those questions with LinkedIn is squarely yes. We are in pursuit of a common mission centered on empowering people and organizations. Along with the new growth in our Office 365 commercial and Dynamics businesses this deal is key to our bold ambition to reinvent productivity and business processes. Think about it: How people find jobs, build skills, sell, market and get work done and ultimately find success requires a connected professional world. It requires a vibrant network that brings together a professional's information in LinkedIn's public network with the information in Office 365 and Dynamics. This combination will make it possible for new experiences such as a LinkedIn newsfeed that serves up articles based on the project you are working on and Office suggesting an expert to connect with via LinkedIn to help with a task you're trying to complete. As these experiences get more intelligent and delightful, the LinkedIn and Office 365 engagement will grow. And in turn, new opportunities will be created for monetization through individual and organization subscriptions and targeted advertising.Jeff and I both believe we have a significant opportunity to accelerate LinkedIn's growth and the value it brings to its members with Microsoft's assets and scale. In fact, when Reid Hoffman, the founder of LinkedIn, and I spoke about the opportunity for us to come together, he called it a "re-founding" moment for LinkedIn and an opportunity to reach the mission the company set out on 13 years ago.The opportunity for Office 365 and Dynamics is just as profound. Over the past decade we have moved Office from a set of productivity tools to a cloud service across any platform and device. This deal is the next step forward for Office 365 and Dynamics as they connect to the world’s largest and most valuable professional network. In essence, we can reinvent ways to make professionals more productive while at the same time reinventing selling, marketing and talent management business processes. I can't wait to see what our teams dream up when we can begin working together once the deal closes, which we expect will happen this calendar year.A big part of this deal is accelerating LinkedIn's growth. To that end, LinkedIn will retain its distinct brand and independence, as well as their culture which is very much aligned with ours. Jeff will continue to be CEO of LinkedIn, he'll report to me and join our senior leadership team. In essence, what I've asked Jeff to do is manage LinkedIn with key performance metrics that accrue to our overall success. He'll decide from there what makes sense to integrate and what does not. We know that near term there will be no changes in who reports to whom so no reporting relationships at Microsoft will change in that regard. This approach is designed to keep the LinkedIn team focused on driving results while simultaneously partnering on product integration plans with the Office 365 and Dynamics teams. During the integration, we'll pick key projects where we can go deep together that will ultimately result in new experiences for customers. Kurt DelBene will lead the overall integration efforts at Microsoft in close partnership with Qi Lu and Scott Guthrie.I'm on the LinkedIn campus today in California and will host a call for investors at 8:45 a.m. PT with Jeff, Brad and Amy – please join if you can. Following that, I'll then spend the day meeting with the LinkedIn team. Tomorrow, I'll host a special Microsoft employee Q&A — I hope you can make it.So far, what I've learned about the LinkedIn team is how much our cultures share many of the same attributes. We both care deeply about individual and collective growth, and find deep meaning in the work we do to make a difference in our world. Together we'll do just that.While I'm in northern California sharing our vision to empower professionals, the Xbox team is in southern California at E3 sharing our vision to empower gamers. I encourage you to check out the E3 press briefing, which starts at 9:30 a.m. Pacific Time.
Finally, if you're not on LinkedIn, join up now and start using and learning more.

Satya

Wednesday, June 8, 2016

Peter Okoye, Banky W, Julius Agwu, Sound Sultan, others mourn the death of Stephen Keshi


Former Super Eagles captain and coach, Stephen Keshi died after a Cardiac arrest in the early hours of today Wednesday June 8th. Nigerian celebrities have been sharing tributes and mourning his death on Social Media. See more screenshots as you continue...

RIO 2016 Olympics: NOC unveils Red Sapphire as Exclusive Online Media Partner… Sets To Run a 30day Telethon Raffle

Nigeria: Ahead of the Rio 2016 Olympic Games taking place in August, the Nigeria Olympic Committee (NOC), has unveiled Red Sapphire and Team Naija as the first-ever exclusive Online Media Partners (OMP) and exclusive Raffle Draw Operator of the Committee. 
At the formal unveiling just held at the prestigious Barcelona Hotels, Abuja the National Olympic Committee President, Habu Gumel, also unveiled the campaign theme tagged “We Believe, We Can”.
The RIO 2016 Olympic is billed to kick-off on August 5 in Rio de Janeiro, Brazil. 
The exclusive partnership gives Red Sapphire the right to run the NOC – RIO 2016 Telethon Raffle and to relay the Olympic Games via KairoswebTV and the TeamNaija website, Social media profiles and other selected media platforms.
In his keynote address at the unveiling ceremony President of the Nigerian Olympic Committee, Engr. Habui Gumel, called on all Nigerians and corporate organisations to support Team Naija as they prepare to ensure a grand successful outing at the Rio 2016 Olympics. 
“This event and the partnership is poised to be a progressive turn around for the Nigerian participation in the Olympic Project, which has over the years recorded huge successes”, he said.
Speaking at the media launch of the ceremony, the Managing Director of Red Sapphire Nigeria Limited, who is also the Director General Team Naija, Mr Onoriode Akpe, commended the efforts of the Nigeria Olympic Committee led by Engr. Gumel, saying that Nigeria’s participation at the Rio Olympics should not be left to the government alone.
According to Akpe “the pace and the build-up to RIO 2016 is quickening, the sense of excitement is growing.  That sense of anticipation about what is going to come is really beginning to hit us. And I think the whole country is beginning to really feel that sense of excitement and the next few weeks are going to be simply amazing.”
Elaborating on the Team Naija Project, Mr Celestine Achi, Founder of KairoswebTV and Deputy Director General of Team Naija explained that one of the strategies to make Rio 2016 a memorable participation for Team Nigeria is the NOC - RIO 2016 Olympics Telethon TV Raffle which will hold for about 30 days with chances for contestants to win up to N10m and in addition is the Live daily update of the RIO 2016 Olympics on KairoswebTV.
"From a commercial perspective, the raffle template is a win-win situation which will help the NOC to grow funds to support the activities of the Olympic Movement in Nigeria’’.
‘This project is a call to duty to all well-meaning Nigerians, home and abroad, to rally round the NOC by massively queuing behind our athletes and supporting Team Nigeria as they prepare and eventually participate at the 2016 Summer Olympics in Rio, Brazil with the ultimate goal of positively impacting on the Medals’ Table and Record-breaking Chart’; Achi said. 
Nigeria’s former Olympic gold Medalist, Mary Onyali-Obagbemi, who also spoke at the ceremony called on Nigerians to support the Rio Olympics, stressing that  “Team Nigeria need every support now more than ever. I have to do my best to team up to support the NOC and every other partner that may be participating in this programme. If our athletes are not going to the Olympics there is no reason for any of us to be there”.
Amongst other dignitaries that attended the Media Lunch were Tunde Popoola the National Olympic Committee Secretary General, the Chief Executive Officer National Lottery Commission Mr. Adolphus Ekpe and the Executive Vice Chairman and Chief Executive Officer, National Communication Commission (NCC), Prof Umar Garba Danbatta. 
#webelievewecan
#teamnaija