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Trump’s dream of a V-shape rebound slowly slips away
Pending home sales rebounded strongly in May and June amid declining mortgage rates. Existing home sales also rose sharply in June. Soaring jobless claims began declining in March as states started to reopen and the unemployment rate declined from a high of 14.7 percent in April. But the increase last week suggested the fresh wave of virus cases and a return to stricter lockdown orders in some states has dented the labor market comeback. Economists say a great deal has to go right for this rosiest of scenarios to play out including swift passage of further enhanced jobless benefits, rapid progress in vaccine development and the survival of thousands of businesses that are unlikely to make it through further lockdowns. Not many are confident that all of this will come together. “To me it se...
Zimbabwean government agrees to pay $3.5 billion compensation to white farmers
The Zimbabwean government and former white commercial farmers on Wednesday signed a 3.5 billion United States dollars compensation agreement for the farmers. The money, which will be borrowed by the Zimbabwean government, is meant for improvements made by the white farmers on their farms that were acquired by government under the land reform program. President Emmerson Mnangagwa, speaking at the signing ceremony in Harare, said the agreement was a significant step towards bringing closure to the land reform program. Under the program which started in the early 2000s, government compulsorily acquired excess farm land from white farmers to resettle landless blacks. Government said this was meant to redress colonial land ownership imbalances that were skewed in favor of whites, and also to ec...
Nigerian government’s stimulus package will avert deep economic recession – minister
Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, has stated that the provision of stimulus package by the Federal Government will go a long way in preventing the country from plunging into deep economic recession. Prince Agba stated this at a virtual roundtable discussion, among state and non-state actors, international organizations and donor agencies, facilitated by the Nigeria’s secretariat of Open Government Partnership (OGP). The minister, who is a co-chair of OGP, led the discussion, which focused on ensuring an effective and inclusive stimulus as well as safety nets campaign for Nigeria as part of the response to the COVID-19 recovery. The Minister said that the roundtable discussion was aimed at improving transparency and accountability as the country r...
Enugu governor signs revised 2020 budget into law
Governor Ifeanyi Ugwuanyi of Enugu State has signed the revised 2020 budget of N146 billion (N146,374,641,080) into law, as against the earlier approved budget of N169,557,658,300.00. The revised 2020 budget of N146.4 billion represents 13.67 per cent reduction in the initial budget size of N169.6 billion, which amounts to N23.2 billion The revised budget, which was in response to the negative consequences of the outbreak of the coronavirus (COVID-19) on the economy, was passed by State House of Assembly on Wednesday, after its presentation to the public for inputs. According to details of the new budget, the earlier approved recurrent and capital expenditures of N68,790,000,000.00 and N100,767,658,300.00 were revised to N69,790,000,000.00 and N76,584,641,080 respectively, representing 48 ...
Edo guber: Comrade Oshiomole’s u-turn on Osagie Ize-Iyamu a great insult on Edo people – Governor Wike
Rivers State Governor, Nyesom Wike, has declared that the Peoples Democratic Party (PDP) flag bearer in the forth coming Governorship election in Edo state, Governor Godwin Obaseki, has no opponent. Speaking as a guest on a live television programme today, Governor Wike said that the people of Edo state already know the type of candidate the All Progressives Congress (APC) is presenting going by what Adams Oshiomhole said of him four years ago. “Adams Oshiomhole told Edo people that Ize Iyamu was rusticated from school; that he poured acid on a fellow student that destroyed his manhood. That he is an armed robber that cannot be trusted with money. “Such a character cannot be accepted by Edo people as Governor during the election. “I respect the Benin tradition and I know that Edo people ar...
Rivaldo: Philippe Coutinho could be a regular at Arsenal or Spurs
Rivaldo says a return to the Premier League is the “best option” for Philippe Coutinho to take this summer, and that the Barcelona flop “could be a regular starter” at Arsenal or Tottenham next season. Coutinho is due to head back to Barca at the end of the season following a loan spell at Bayern Munich, who have already decided against signing the midfielder on a permanent deal. Quique Setien, who inherited the managerial reins at Camp Nou in January, insisted that the 28-year-old could be a part of his plans for next season when addressing speculation over his future during the coronavirus-enforced lockdown. However, Coutinho’s agent revealed this week that there’s been “a lot of genuine interest” in his client over the past few months, and that he would like to secure a move back to Eng...
Oyo to set up employment scheme for repatriated indigenes
The Oyo State Government says it is working toward setting up an employment scheme that will provide work opportunities for its repatriated indigenes. The Oyo State Ministry of Information, Culture and Tourism stated this in a statement it issued on Wednesday in Ibadan. The ministry said that Dr Akin Fagbemi, the Chairman, Oyo State Road Transport Management Authority (OYRTMA), disclosed this after a meeting he had on Tuesday with Mrs Bolanle Sarumi-Aliyu, the Senior Special Adviser to Gov. Seyi Makinde on Diaspora Affairs. According to the ministry, the meeting centered on how the Department of Diaspora Affairs can effectively partner OYRTMA in the area of providing opportunities for Oyo State indigenes who for one reason or the other had to return home from different parts of the world. ...
President Buhari presides over virtual FEC meeting
Expectedly, President Muhammadu Buhari Wednesday presided over his 10th virtual Federal Executive Council (FEC) which also had in attendance his Vice, Professor Yemi Osinbajo, and eight ministers physically present. The meeting holding at the Council Chamber, Presidential Villa, Abuja, is also being attended by the Secretary to the Government of the Federation (SGF), Boss Mustapha, Chief of Staff to the President, Professor Ibrahim Gambari, and the National Security Adviser (NSA), Major General Babagana Monguno (retd). The ministers who are present are the Attorney-General of the Federation (AGF) and Minister for Justice, Abubakar Malami, Informatoon and Culture, Lai Mohammed, Finance, Budget and National Planning, Mrs. Zainab Ahmed, Aviation, Senator Hadi Sirika, Interior, Rauf Aregbesola...
Police arrest teenager for allegedly raping two-year-old
The Police in Adamawa have arrested an 18-year-old man for allegedly raping a two-year-old girl in Jimeta, Yola. The command Spokesman, Sulaiman Nguroje, made this known to newsmen on Wednesday in Yola. Nguroje said the suspect (names withheld) lives in Jambutu Aso Rock in Yola North Local Government Area of the state. He said the suspect allegedly committed the offence on July 28 and was arrested by detectives attached to Karewa Division in Yola North Local Government Area of the state. “The suspect, whose shop is next to that of the victim’s mother, took the victim to a Bekaji Primary School, Jimeta, on the pretext of being a good neighbour and (allegedly) raped her. “The mother, who noticed the swollen private part of her baby immediately reported to the police and the suspect was arres...
G-Herbo Tabs Saweetie, City Girls, Wale and NLE Choppa For Mental Health Notes Panel
In hopes of aiding struggling Black teens, G-Herbo is collaborating with Audiomack to help restore their mental health with his forthcoming Mental Health Notes Panel, airing today (July 29) at 6:00 p.m. ET on Twitch. Hosted by Dr. Jessica Clemons MD, the star-studded lineup will include Saweetie, City Girls, Wale, NLE Choppa and NAMI CEO Dan Gillison as speakers for today’s festivities. Designed to provide tools to help Black youth maneuver through the ups-and-downs of mental health, this forum will offer a bevy of techniques to help lessen their everyday battles, while de-stigmatizing the importance therapy in the African American community. “I wanted to gather everyone to encourage open dialogue, so that we not only become a support system for one another, but our fans as well, Herbo tel...
4 Big Tech CEOs Getting Heat From Congress on Competition
Four Big Tech CEOs — Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, Sundar Pichai of Google and Tim Cook of Apple — are set to answer for their companies’ practices before Congress as a House panel caps its yearlong investigation of market dominance in the industry. The four command corporations with gold-plated brands, millions or even billions of customers, and a combined value greater than the entire German economy. One of them is the world’s richest individual (Bezos); another is the fourth-ranked billionaire (Zuckerberg). Their industry has transformed society, linked people around the globe, mined and commercialized users’ personal data, and infuriated critics on both the left and right over speech. Critics question whether the companies, grown increasingly powerful after...
Demi Lovato, Ben Platt and More to Appear During Virtual GLAAD Media Awards Ceremony
Though they’re not able to celebrate in person this year, GLAAD is making sure that LGBTQ representation in media is still recognized with the GLAAD Media Awards — and they’re teaming up with some big stars to do it. On Wednesday (July 29), GLAAD announced that even more stars, including Demi Lovato and Ben Platt, will be joining the previously-announced lineup for the 31st annual GLAAD Media Awards’ virtual ceremony. The organization announced that along with a special musical performance from Chloe x Halle, the show will also now feature two new performers; actor and singer Ben Platt, and singer-songwriter Shea Diamond. GLAAD also announced that stars like Lovato, Jennifer Garner, Lilly Singh, Charli XCX, Kandi Burruss, Theo Germaine, August Getty, Gigi Gorgeous Ge...
