Results
Nvidia cites limited visibility into crypto mining’s impact on Q2 results
Graphics card giant Nvidia CFO Colette Kress says the company has been unable to estimate reduced crypto mining demand impacted its Q2 results, which fell short of analyst expectations on Wednesday. The chip giant released its financial results for the three months ended July 31, which revealed a 19% quarter-on-quarter drop in revenue to $6.5 billion, while net income fell 59% to $656 million. Revenue for its gaming division, which includes sales of its high-end GPUs, fell 44% in revenue from the previous quarter to $2.04 billion, which Nvidia attributed to “challenging market conditions.” Kress, who also serves as executive vice president of the company, said Nvidia has limited visibility on how the crypto market affects the demand for their gaming products: “Our GPUs are capable of...
‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss
Online brokerage firm Robinhood will lay off nearly a quarter of its employees, citing a continued deterioration of the macro environment and a broad crypto market crash. The bad news came in a Tuesday blog post from co-founder and CEO Vlad Tenev, on the same day the firm released tepid Q2 financial results and the New York State Department of Financial Services announced a $30 million fine for the company’s crypto branch due to alleged Anti-Money Laundering, cybersecurity and consumer protection violations. Tenev wrote that the layoffs would impact all functions in the company, particularly operations, marketing, and program management, with around 23% of the staff let go. The Financial Times estimated the number of employees impacted to be around 780. “Departing Robinhoodies ...
JAMB boss lists major challenges
Prof. Is-haq Oloyede, Registrar, Joint Admissions and Matriculations Board (JAMB) said malpractice and indiscipline are some of the board’s major challenges yet to be fully addressed. The Registrar made this known when members of the Senate Committee on Basic and Secondary Education visited the board’s headquarters in Bwari, Abuja on Monday. Oloyede said that the challenges, unfortunately, were mostly with regards to parents trying to bend the system by all means and get their wards or children into schools, irrespective of their performance. “Our challenge remains examination malpractice, especially with regards to parents who keep calling me to favour their wards or children whether they meet the requirements of the system or not. “There’s also indiscipline from the tertiary institutions...
President Buhari orders military to crush bandits in ‘language they understand’
President Muhammadu Buhari on Saturday ordered the military to crush bandits operating in Zamfara and Kaduna in the language they understand. The president condemned repeated bandit killings in Zamfara and Kaduna States, urging the nation’s military to respond to the worrying situation in a language that the bandits understood. Buhari, in a statement issued by his spokesman, Garba Shehu noted that the military and other security agencies were now working on new methods and policies that are yielding good results in many of the troubled parts of the country. He called for a crushing response to the killing of innocent citizens in the rural communities. Buhari also averred that the nation, its military and the entire population needed to summon the courage required to defeat the bandits and ...
Yahaya Bello: Nigeria deserves the best captain no matter where he comes from
The Governor of Kogi State, Alhaji Yahaya Bello, has said that rather engage on the unconstitutional issue of rotational presidency, what Nigerians should focus on is look for that Nigerian, no matter where he comes, who can be the captain to pilot the country to the promised land. The governor who stated this at the First Annual Governor Yahaya Bello (GYB) Seminar for Nigeria’s Political and Crime Correspondents/Editors at the Transcorp Hilton, Abuja, said that even after 16 years of Peoples Democratic Party (PDP) and another six years of All Progressives Congress (APC), in the country, the problems of the nation has not been solved by the rotational presidency that has taken place over the years. Bello insisted that the political party must not limit the choice of Nigerians to any region...
Anambra election: We’ve no hand in APGA triple candidates woes – APC
Anambra State All Progressive Congress (APC) has denied any hand in the triple candidates scenario in All Progressives Grand Alliance (APGA) in the state as alleged by Governor Willie Obiano of the state. The party said that was rather too busy with the self-purification and organizational process to bother about parties that were hijacked from their original goals. The State APC Publicity Secretary Okelo Madukaife in a statement said that Governor Obiano had alleged that APC and PDP were responsible for the crisis in APGA and in fact tried to stop one of the three factional candidates from emerging. “APC has nothing do with such infradig affair. PDP will speak for itself. One thing is however clear. Every leader in the place of Governor Obiano today would be ashamed of what has become of ...
House concurs with Senate, approves $6.183 billion external loan request
The House of Representatives has approved the federal government’s request for $6.183 billion (N2.343 trillion) as external borrowing in 2021 Appropriation Act. The approval followed the consideration and adoption of clauses in the report presented by the committee on Aids, Loans and Debt Management, chaired by Hon. Ahmed Dayyabu Safana. The House also gave approval for the bill seeking to establish a Defence Research and Development Bureau (DRDB) to conduct and coordinate robust research and development in the Armed Forces of Nigeria. The approval was sequel to the consideration and adoption of the 5 parts and 34 Sections of the Bill’s report, presented by Chairman House Committee on Defence, Hon. Babajimi Benson. Presenting the report, Benson said the objective of the Bureau was to condu...
PDP vice chairman: Electronic transfer of results, a must for free, fair polls
The Peoples Democratic Party (PDP) in the South-south has called on the National Assembly to retain electronic transmission of results in the Electoral Act The National Vice Chairman, South-south of the party, Dan Orbih, made the call on Wednesday in an interview with the News Agency of Nigeria (NAN) in Benin. He was reacting to the purported removal of the provision for the electronic transfer of result provision from the proposed amendment Act currently being debated by the National Assembly. “Nigerians should resist the removal of electronic transmission of election results during elections from the Electoral Act because it is an invitation to unending electoral fraud,” Mr Orbih said. The introduction of electronic transmission of election results from the polling units to collation cen...
Yobe governor: No plan to retrench workers
Gov. Mai Mala-Buni of Yobe on Tuesday said his administration has no plan to retrench civil servants in spite of the state’s meagre resources. Mala-Buni gave the assurance in Damaturu on the sidelines of the swearing-in ceremony of newly appointed permanent secretaries and board members. He said he would continue to attract investments to Yobe from both state and non-state actors in order to meet the financial obligations of the state. “People accuse me of frequenting Abuja; the truth is, if I remain in Damaturu, we cannot pay even our salary bills. “And that means we will have to join the league of states that are retrenching workers; we don’t have such plan. “You are aware of the projects we started, including the four modern markets we are building, the ongoing 3,600 houses, the over 87...
APGA: Electronic transmission of results will check rigging
The All Progressive Grand Alliance (APGA) has said that the party is in support of the inclusion of electronic transmission of election results in the Electoral Act (amendment) Bill. National Chairman of the party, Chief Victor Oye, said that electronic collation of results will eliminate election to a great extent. Oye who spoke to newsmen in Abuja on Monday said that the party supports the inclusion of the provision for electronic voting and results transmission hundred percent. He said that allowing electronic transmission of results will check the usual manipulation and hijack of election results sheets in transit by political thugs. “Since we are accepting electronic voting, we will also do electronic collation of results. It will help to curb election malpractice and rigging. I think...
UNN vice chancellor: Coronavirus pandemic most global challenge since World War II
Prof. Charles Igwe, the Vice-Chancellor of University of Nigeria, Nsukka (UNN) has said that COVID-19 pandemic is arguably the most global challenge since world war II. Igwe said this in Nsukka on Monday during UNN 1st Annual International Conference titled: “A Whole New World; Research, Development and Innovation in the Pandemic Era.” He said that COVID-19 which has killed many people across the globe as well as infected many others has affected the economy, lives, people’s ways of living in virtually every country of the world. “COVID-19 pandemic is the most serious global challenge since the world war II the world has witnessed. “As this has affected the economy, people’s ways of life and behaviour of entire people of the world,” he said. He commended federal government on handling the ...
CSOs: No to manual transmission of election results
No fewer than 42 civil society organisations have rejected the Electoral Amendment Bill (2021) being proposed by the National Assembly. The CSOs in a statement on Sunday said the manual transmission of election results would be used to manipulate the outcome of polls. Some of the CSOs are Center for Liberty, The Electoral Hub, Yiaga Africa, Raising New Voices, Ready To Lead Africa and Speak Out Africa Initiative, Centre for Development Alternatives Research and Studies, Aspilos Foundation, Women Advocates Research and Documentation Centre and South-South Professional Women Association. “As everyone may be aware, the National Assembly will pass the Electoral Amendment Bill (2021) this week. Barring any last-minute changes, the bill is expected to be passed by both chambers on Thursday. “Som...
