Author: Chief Editor

The Academic Staff Union of Universities (ASUU) has ended its National Executive Committee (NEC) meeting with a resolution not to embark on another strike action. The union, however, condemned the attempt by the federal government to turn the academics into casual workers through the so-called ‘pro-rata’ payment for 18 days. In a press statement on Tuesday after the end of the NEC meeting, the ASUU national president, Professor Emmanuel Osodeke, noted that the University teachers are intellectuals and not casual workers. He said the Union suspended its eight-month strike on October 14, 2022 in obedience to the order of the…

Fenway Sports Group (FSG), the owners of Liverpool, have put the club up for sale, according to David Ornstein. FSG have owned Liverpool since 2010 and have led the club through its most successful phase in modern history. They have made several revolutionary changes at the club, including bringing in Jurgen Klopp as the manager in 2015. Liverpool won the Champions League in the 2018-19 season and the Premier League title the following year. They also won the FA Cup and the Carabao Cup last term. Despite their successes, FSG have now decided to call it a day on their stint as owners of the Merseyside club. It is going to be…

Renault SA (RENA.PA) and China’s Geely (0175.HK) announced a 50-50 joint venture on Tuesday to supply gasoline engines and hybrid technology to their brands and other automakers, in the latest step in the French carmaker’s complex restructuring. As well as carving out its internal combustion engine business to focus on electric cars, Renault is trying to revamp its alliance with Nissan Motor Co (7201.T), aiming to convince its Japanese partner to invest in its new electric unit. The scale of Renault’s planned overhaul – encompassing the gasoline engine business it has code-named “Horse” and the electric one code-named “Ampere” – speaks to the pressure automakers…

Smoke billows out of the fields in India’s Punjab state as several thousand acres of crop stubble are set on fire, wrapping surrounding areas in a thick, grey blanket. The national capital Delhi and surrounding areas are enveloped in a layer of smog each winter as cold, heavy air traps construction dust, vehicle emissions and smoke from the crop stubble burning in the states of Punjab and Haryana. Raging farm fires in these states have become a common sight as farmers burn crop waste to clear their fields after a harvest and prepare for the next sowing. Typically, the harvesting…

It’s no joke. Elon Musk’s acquisition of Twitter has put fresh wind in the sails of dogecoin, the meme cryptocurrency he catapulted to fame. Dogecoin’s price doubled after the Tesla tycoon completed the $44 billion deal. It was trading at about $0.07 on Oct. 27 before Musk tweeted “the bird is freed” to announce his ownership. Five days later, it was at $0.16. That may not sound like much, but it gave the highly volatile cryptocurrency a market value of $21 billion, according to data platform CoinGecko. Not bad for a coin that was created as a “joke” satirizing wild speculation in…

A U.S. judge on Monday said British billionaire entrepreneur Richard Branson must face shareholder claims he concealed problems in Virgin Galactic Holdings Inc’s (SPCE.N) spaceship program, and sold hundreds of millions of dollars of stock at inflated prices. While dismissing most claims in the proposed class action, U.S. District Judge Allyne Ross in Brooklyn said shareholders could try to prove that Virgin and Branson defrauded them into overpaying for the space tourism company’s shares, which now trade more than 90% below their February 2021 peak. Shareholders can sue over July 2019 statements that Virgin had made “great progress” overcoming “hurdles” to commercial…

Tesla Inc (TSLA.O) said it has raised insurance incentives for car orders in China placed before Nov. 30, but reduced them for orders made next month, a move to urge consumers to place orders earlier. The U.S. automaker previously offered an insurance incentive of 7,000 yuan ($970) for orders between Oct. 1 and Dec. 30. But on Tuesday Tesla said the incentive for November was raised to 8,000 yuan and reduced for December orders to 4,000 yuan. “As long as you like it enough, pick up Tesla immediately!” Tesla said in its official Weibo account when announcing the policy change. The insurance…

India stands to gain from a price cap on Russian oil and the United States hopes that it will take advantage of it, U.S. Treasury Secretary Janet Yellen said ahead of a visit to India this week, media reported on Tuesday. The United States and its allies in the Group of Seven rich nations aim to prevent Russia from profiting from oil after its invasion of Ukraine on Feb. 24, while ensuring that most of its oil continues to flow to global markets. The G7 nations plan to cap prices of sea-borne oil shipments from Dec. 5, with a second cap on…

State-run Coal India Ltd’s (COAL.NS) quarterly profit more than doubled as production and offtake volumes at the world’s largest coal miner increased due to higher power demand amid elevated global prices. Consolidated net profit for the quarter ended Sept. 30 rose to 60.44 billion rupees ($737.88 million) from 29.37 billion rupees a year earlier, the company said on Monday. Its quarterly coal production jumped 10.6% to 139.2 million tonnes, while output for the April-September period climbed 19.7%. State-run Coal India Ltd’s (COAL.NS) quarterly profit more than doubled as production and offtake volumes at the world’s largest coal miner increased due to higher power demand…

Park warden Pedro Muagura sees hope for the future as he picks a ripe handful of cherry red coffee beans from a more resistant variety of coffee trees introduced to communities farming around Mozambique’s Gorongosa National Park. The prospect of a more reliable harvest from the crop, which thrives in the shade of indigenous trees, has given people living around Gorongosa a longer-term incentive to protect a rainforest that has lost more than 100 hectares of tree cover per year over the past four decades. Gorongosa is still recovering from a civil war that killed about 1 million people between…