Meta Platforms saw its shares plunge in after-hours trading after investors reacted negatively to the company’s decision to ramp up spending on artificial intelligence, overshadowing another quarter of strong revenue growth. Shares of the Facebook, Instagram and WhatsApp parent fell by as much as 11 per cent after the company reported its financial results for the April-to-June quarter. Meta posted $61 billion in revenue for the quarter, representing a 28 per cent increase from a year earlier. However, net profit declined 14 per cent to $6 billion, while free cash flow fell sharply to $784 million, its lowest level in at least…
Author: Elvis Eromosele
Chinese robotics company Geek+ is rapidly expanding its footprint in the United Kingdom, supplying autonomous warehouse robots to some of the country’s biggest retailers as businesses increasingly turn to automation to improve productivity and address labour shortages. The company’s robots are now operating in warehouses used by major retailers including Tesco, Asda and Next, where they help process online orders by transporting shelves and pallets to warehouse staff for picking and packing. At Geek+’s manufacturing facility in Hefei, eastern China, fleets of autonomous mobile robots are assembled, tested and shipped to distribution centres across the world, including the UK. Unlike…
Shell has reported a sharp rise in quarterly profits, with earnings more than doubling as escalating conflict involving Iran sent global oil prices soaring and boosted trading activity across energy markets. The energy giant posted $9.84 billion in profit for the second quarter of 2026, more than double the $4.26 billion recorded during the same period last year. Combined with its $6.92 billion first-quarter profit, Shell’s earnings for the first half of the year surged by 70 per cent, reflecting the impact of higher oil prices and increased volatility in global energy markets. Chief Executive Officer Wael Sawan attributed the…
Digital micro-credit is emerging as a critical source of financing for millions of Nigerians in the informal economy, with experts saying technology-driven lending is helping bridge the gap left by conventional banking. As inflation continues to squeeze household incomes and small businesses grapple with cash flow challenges, more traders, artisans, transport operators and other low-income earners are turning to mobile-based lending platforms for quick access to short-term credit. According to industry experts, the growing popularity of digital lending reflects the difficulty many Nigerians face in accessing traditional bank loans due to the lack of collateral, formal credit histories and regular…
…Despite a trophyless season, the Spanish giants posted record revenue and profits, driven by the revamped Santiago Bernabéu and booming commercial partnerships. Real Madrid has become the first sports club in history to generate more than €1.2 billion in annual operating revenue, underscoring the growing importance of commercial strength and stadium investments over on-field success. The Spanish football giant reported a record €1.221 billion in operating revenue for the 2025–2026 financial year, despite failing to win a major trophy during the season. The club also posted record earnings before interest, taxes, depreciation and amortisation (EBITDA) of €287.4 million, an 18…
By Moses Braimah Statement of fact, Nigeria’s data economy will never be the same again. The most consequential technology ruling in Nigeria this year did not emerge from a fintech boardroom, a venture capital summit, or Silicon Valley. It came from a Federal High Court. In Emmanuel Harunna v. Nigeria Data Protection Commission (NDPC), the court affirmed the Commission’s authority under the Nigeria Data Protection Act (NDPA) 2023 to regulate major data handlers, including decentralised Point-of-Sale (PoS) agent networks. Far beyond a legal victory, the judgment redraws Nigeria’s digital economy. It is a corporate wake-up call, a regulatory milestone, an…
Afrinvest has deepened its partnership with the Nigeria Premier Football League (NPFL) to drive digital transformation, strengthen commercial capacity and position Nigerian football clubs for sustainable revenue growth. The commitment was reaffirmed on Wednesday during the NPFL–Afrinvest Media and Marketing Workshop in Enugu, where media officers and marketing heads from the 20 NPFL clubs underwent training on branding, digital visibility, sponsorship attraction and fan engagement. The workshop, with the theme ‘The Role of Marketing and Media Officers in Generating Wealth for Professional Football Clubs’, focused on the need for clubs to move beyond dependence on government funding by building stronger…
The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have formalised a strategic partnership to accelerate the deployment of sustainable digital infrastructure across Nigeria through the integration of renewable energy solutions and telecommunications infrastructure. The partnership was sealed with the signing of a Memorandum of Understanding (MoU) at the NCC–REA Stakeholder Workshop held at the NCC Annex Office Auditorium, Mbora, Abuja, on Friday, July 24, 2026. The workshop, themed “Unlocking the Energy–Telecoms Nexus for Scalable Digital Infrastructure in Nigeria,” brought together senior government officials, telecommunications operators, tower companies, renewable energy developers, financiers, development partners and other industry stakeholders…
The Niger State Government has secured a $150 million loan from the Islamic Development Bank (IsDB) to construct a 100-megawatt (MW) solar power plant, taking a major step toward expanding energy access and stabilizing the state’s power infrastructure. The development was announced by Mustapha Abubakar, Chairman of the New Niger Development Project (NNDP), during a media briefing hosted by the Niger State Ministry of Information and Orientation in Minna. To complement the IsDB loan, the state government will provide $10 million in counterpart funding, bringing the total investment in the renewable energy project to $160 million. Abubakar attributed the successful…
The Canadian government has officially expanded its online passport renewal service to all eligible adult citizens nationwide, lifting previous restrictions that limited digital application slots. The major expansion was announced by Lena Metlege Diab, Canada’s Minister of Immigration, Refugees and Citizenship, as part of an ongoing modernisation initiative aimed at streaming public services and drastically reducing the need for physical, in-person visits. Under the updated digital portal, eligible applicants can submit their renewal application, pay fees, and upload required documents entirely online, eliminating the hassle of mailing physical paperwork or visiting a Service Canada Centre. The federal government highlighted that…