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☆ Nigeria’s Ruling Party Candidate Takes Early Lead in Slow Vote Count
▼ + stars: | 2023-02-27 | by ( Gabriele Steinhauser | Gbenga Akingbule | ) www.wsj.com time to read: 1 min

LAGOS, Nigeria—Early results from Nigeria’s presidential election showed a healthy lead for the ruling party’s Bola Tinubu , as the electoral commission said technical glitches were slowing down the vote count in Africa’s largest economy and most populous nation. By early afternoon Monday, results from just under a third of polling units had been loaded onto the electoral commission’s website following Saturday’s election. Parallel vote counts by civil-society organizations based on results uploaded so far showed Mr. Tinubu of the All Progressives Congress ahead of Atiku Abubakar of the People’s Democratic Party, followed by the Labour Party’s Peter Obi .

☆ Nigerian parties criticise slow pace of weekend election count
▼ + stars: | 2023-02-27 | by ( Macdonald Dzirutwe | ) www.reuters.com time to read: +2 min

LAGOS, Feb 27 (Reuters) - Nigeria was to resume announcing presidential election results on Monday amid complaints of irregularities as opposition parties criticised the slow pace at which the results were being uploaded on to the election commission's website. The Independent National Electoral Commission (INEC) has so far released official results from only one of 36 states. By 0830 GMT, INEC had uploaded results from 52,236 polling units out of a total 178,846, its website showed. "We take full responsibility for the problems and regret the distress that they have caused the candidates, political parties and the electorate," said INEC. In northern Kano state, police said suspected thugs had attacked a campaign office for a smaller opposition party and set the building on fire, killing two people.

☆ Nigeria's Peter Obi wins in Lagos state in presidential election
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

LAGOS, Feb 27 (Reuters) - Nigerian presidential candidate Peter Obi, whose campaign attracted young people and urban voters fed up with corrupt politics, won most votes in the commercial hub of Lagos state, where Africa's biggest city is located. Nigeria's electoral commission began announcing state-by-state results in the national elections on Sunday, though it is not expected to name a victor in the race to succeed President Muhammadu Buhari for several days. Obi of the Labour Party got 582,454 votes, just ahead of 572,606 for former Lagos governor Bola Tinubu for the governing All Progressives Congress party, electoral commission data showed on Monday. He was most popular with the youth, but especially urban, relatively educated voters with access to smartphones and social media. Reporting by MacDonald Dzirutwe; Writing by Tim Cocks; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Results so far from Nigeria's presidential election
▼ + stars: | 2023-02-26 | by ( ) www.reuters.com time to read: 1 min

LAGOS, Feb 26 (Reuters) - Nigeria's electoral commission has announced the following results following the country's presidential election, with the final tally expected within five days of the close of voting on Sunday. Below are tallies for the top three candidates - Bola Tinubu from the All Progressives Congress party (APC), main opposition leader Atiku Abubakar of the Peoples Democratic Party (PDP), and the Labour Party's (LP) Peter Obi. EKITI STATEBola Tinubu (APC) 201,494Atiku Abubakar (PDP) 89,554Peter Obi (LP) 11,397Reporting by MacDonald Dzirutwe and Tim Cocks; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Nigerians wait to finish voting in some places as election count underway
▼ + stars: | 2023-02-26 | by ( Tife Owolabi | ) www.reuters.com time to read: +2 min

[1/2] People wait for results during the counting process of Nigeria's presidential election, at a polling unit in Awka, Anambra state, Nigeria February 25, 2023. A Reuters reporter saw voters arriving at polling stations in Yenagoa city, which will open at 10 a.m. (0900 GMT) so electoral commission officials can complete Saturday's presidential and parliamentary election. Voting was also expected to continue in some parts northeastern Borno state, where voting machines failed to work. He is stepping down after winning two previous elections and serving the maximum eight years permitted by the constitution. Whoever wins will face a litany of crises in the country of more than 200 million, Africa's most populous nation.

☆ Nigerians, Battered by Crises, Vote in Tight Election
▼ + stars: | 2023-02-25 | by ( Gabriele Steinhauser | Gbenga Akingbule | ) www.wsj.com time to read: 1 min

LAGOS, Nigeria—Tens of millions of Nigerians cast their votes Saturday in an election that many hope will be a turning point for Africa’s largest economy and most populous nation after years of debilitating economic and security crises. For the first time, the two established parties that have ruled Nigeria since its return to democracy in 1999 are facing a third-party challenger, Peter Obi from the smaller Labour Party, who has gained a following among young people frustrated with a lack of opportunities, rising prices and the struggles that define everyday life in the country.

☆ Nigerians vote for new president, delays seen at some polling stations
▼ + stars: | 2023-02-25 | by ( Anamasere Igboereteonwu | ) www.reuters.com time to read: +6 min

[1/8] People looks for their names on voters list put up on a wall at a polling unit, during Nigeria's Presidential election in Agulu, Anambra state, Nigeria February 25, 2023. Polling stations were scheduled to open at 8:30 a.m. (0730 GMT), though Reuters reporters at locations across the country saw a mixed picture, with delays of several hours in some places while voting got underway more swiftly at others. In the northeastern city of Maiduguri, the vice presidential candidate from the ruling party, Kashim Shettima, arrived to cast his ballot but was unable to do so as his designated polling station had not opened. In another northeastern city, Yola, opposition presidential candidate Atiku Abubakar was able to vote, surrounded by a chaotic scrum of media and supporters. Vote-counting will begin as soon as polls close and results will be posted outside polling stations, according to the Independent National Election Commission (INEC).

☆ Nigeria’s Economic and Security Crises Lift Outsider Candidate Ahead of Presidential Election
▼ + stars: | 2023-02-24 | by ( Gabriele Steinhauser | Gbenga Akingbule | ) www.wsj.com time to read: 1 min

LAGOS, Nigeria—It took Patience Moses two years to find a job after graduating from college with high hopes and a communications degree. Then, bandits raided her relatives’ village, burning down houses and killing her grandmother and cousin. Now, an attempt by Nigeria’s central bank to limit cash transactions just before Saturday’s national elections has left her struggling to pay her son’s school fees and for the bus that takes her to work. “I have never voted, but now I want to vote,” said Ms. Moses, who, like many young Nigerians, says she is backing Peter Obi , of the smaller Labour Party, over candidates from the country’s established parties. “I want my vote to count.”

☆ Grab forecasts 2023 revenue above estimates, brings forward profit target
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Feb 23 (Reuters) - Grab Holdings Ltd (GRAB.O), Southeast Asia's biggest ride-hailing and food delivery firm, on Thursday forecast upbeat 2023 revenue and pulled forward its profitability timeline on hopes that consumers will continue to rely on its services. New York-listed shares of a decade-old Grab, a household name in eight Southeast Asian countries, gained 6% in premarket trading. The company forecast its 2023 revenue between $2.20 billion and $2.30 billion. For the year, Grab forecast loss before interest, taxes, depreciation, and amortization between $275 million and $325 million. Grab also delivered an about four-fold revenue surge in the fourth quarter to $502 million, helped by higher demand and a reduction in incentives.

☆ Singapore ride-hailing firm Grab beats on revenue, pulls forward profitability timeline
▼ + stars: | 2023-02-23 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Revenue for the fourth quarter of 2022 grew 310% to $502 million, up from $122 million a year ago. We should be getting back to pre-Covid levels by fourth quarter this year. The company said that it is bringing forward its group adjusted EBITDA breakeven guidance to the fourth quarter of 2023, half a year earlier than its previous guidance. Deliveries reboundDeliveries revenue increased to $268 million in fourth quarter 2022, up from $1 million in the same period in 2021. Incentives dropped to 8.2% of gross merchandise volume in the fourth quarter from 9.4% in the previous quarter.

☆ 'Unpredictable' election in Africa's largest economy is set to resonate around the world
▼ + stars: | 2023-02-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

After 24 years of uninterrupted democracy since ending military dictatorship in 1999, Africa's most populous nation and largest economy is conducting its seventh election. Muhammadu Buhari, Nigeria's president, speaks during the U.S.-Africa Business Forum in New York. Leena Koni Hoffmann, associate fellow of the Africa Programme at Chatham House, told CNBC on Monday that the presidential election will be the "most unpredictable" since the transition to civilian rule. Alongside the Covid-19 pandemic and war in Ukraine, Koni Hoffmann noted "missed opportunities" and "self-inflicted crises" under Buhari's regime. Economists panned the decision, which Koni Hoffmann suggested rendered Nigeria and its neighbors more vulnerable to the damage of the pandemic.

[1/6] Godwin Nnamdi, 27-year-old fitness trainer and first-time voter, poses for a portrait at a gym in Lagos, Nigeria February 15, 2023. But his active social media campaign and promises to break with Nigeria's gerontocratic past have endeared him to many younger voters. The young and tech-savvy, first-time voters rallying around Obi call themselves the "Obi-dients" - a somewhat incongruous choice for an anti-establishment movement. The former banker has promised jobs, skills training and funding to young Nigerians, but so too have Tinubu and Atiku. If Obi loses, Ndukwe said he would join the wave of skilled Nigerians leaving the country in its perpetual brain drain.

☆ Fact Check-Photo of Peter Obi with Hero Beer has been doctored
▼ + stars: | 2023-02-15 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image purportedly showing Nigerian presidential candidate Peter Obi drinking Hero Beer, which has gathered a lot of traction online, has been doctored. Social media users shared a photo of Obi at a restaurant appearing to dine beside two bottles of Hero Beer here and here . The image, however, has been doctored, and Obi was not pictured with the drink. The presidential candidate’s face has been superimposed on to the individual’s, the colour of his shirt has been changed from orange to yellow and bottles have been replaced with Hero Beer. The image of Peter Obi with two bottles of Hero Beer has been edited.

☆ Markets are pricing interest rate cuts too quickly, Goldman strategist says
▼ + stars: | 2023-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets are pricing interest rate cuts too quickly, Goldman strategist saysPeter Oppenheimer, chief global equities strategist at Goldman Sachs, discusses the improved macro environment and where he sees market risk and opportunity.

☆ Explainer: What is at stake for investors in Nigeria's election?
▼ + stars: | 2023-02-13 | by ( Rachel Savage | ) www.reuters.com time to read: +4 min

Multiple exchange rates, widespread insecurity and low oil production due to massive crude theft are all problems that worry investors. Another focus is soaring fuel subsidy costs that devour government revenues and drive up debt. "No investor's going to want to buy into a market where you can't sell stock and get your money out," he said. Foreign investors held 16% of shares on Nigeria's stock exchange last year, sharply down from 58% in 2014, Nigerian Exchange Group data showed. Many investors, however, were cautiously optimistic that Nigeria would see improvements, whoever wins on Feb. 25.

☆ American cacti are rapidly colonizing the slopes of the Swiss Alps as snow disappears, says report
▼ + stars: | 2023-02-11 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

Prickly pear cacti, native to the arid regions of the Americas, are now thriving in the Swiss Alps. The plants are typically seen in hot, dry areas, such as the Grand Canyon. So, diminishing snow cover provides a fertile environment for them to thrive. Snow cover in the Alps has been plummeting. Another study said the number of days where there is snow cover under 2,600 feet has halved since 1970.

☆ Opposition supporters attacked in Nigeria ahead of rally
▼ + stars: | 2023-02-11 | by ( ) www.reuters.com time to read: +1 min

LAGOS, Feb 11 (Reuters) - Nigerian presidential contender Peter Obi of the opposition Labour Party said his supporters were on Saturday attacked and injured ahead of a rally in the commercial capital Lagos, a stronghold of the ruling party. Previous elections in Africa's most populous nation have been fraught with violence between supporters of rival parties and a number of instances of political violence have occurred ahead of the Feb. 25 parliamentary and presidential vote. "We cannot continue to tolerate attacks on members of the political opposition, often fuelled by the incendiary rhetoric of political leaders," Obi said in a statement, urging police to investigate. At the rally, Obi told supporters he would reform the police to make it more professional, end the oil thefts that have hobbled production in the Niger Delta, and improve security to allow farmers to boost agriculture output. Obi will face Bola Tinubu, the former governor of Lagos and the ruling All Progressives Congress candidate, and former vice president Atiku Abubakar from the main opposition People's Democratic Party.

☆ Some Goldman Sachs partners want to tell the board about their concerns over CEO David Solomon
▼ + stars: | 2023-02-08 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

A decline in morale at the Wall Street firm concerns some Goldman partners. Here are their concerns about CEO David Solomon, who addressed the partners in Miami. CEO David Solomon addressed Goldman Sachs' partners today at the firm's annual partners meeting in Miami. There's little history for Goldman partners taking their concerns directly to the board. Since then, according to someone who has spoken to investors, more shareholders have questioned how long Solomon can last as Goldman's CEO.

☆ Goldman Sachs says European stocks will continue to outperform the U.S. Here's why
▼ + stars: | 2023-02-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has already said that non-U.S. stocks will beat the S & P 500 this year . The Euro Stoxx 50 , an index of 50 stocks in the euro zone area, has underperformed the S & P 500 by more than 115 percentage points over the past decade. It said the region will also benefit from a shift from so-called "growth" stocks (mostly found in the U.S.) to "value" European stocks, with companies on the continent better suited to navigate a higher interest rate environment than their American counterparts. 'Nowhere to hide' However, Goldman Sachs added that if there were a decline in U.S. stocks this year, there would be "nowhere to hide" for investors. Historical data shows that when the S & P 500 falls by 20% or more, other markets usually follow with comparable drops, according to Goldman.

☆ Factbox: Nigeria election 2023: what you need to know and what's at stake
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +5 min

Here is what you need to know about the election. Tinubu and Atiku have significant powerbases across Nigeria, while Obi is banking on frustration over the economy and insecurity to turn voters against the two major parties. Obi, who left the PDP last year and was Atiku's running mate in 2019, casts himself as a reformist willing to overhaul Nigeria's political system. But on policy, there is little separating the main candidates. Reporting by MacDonald Dzirutwe; Editing by James Macharia Chege, Gareth Jones and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ Investors are piling the most cash into European stocks in nearly as year as recession outlook fades
▼ + stars: | 2023-01-27 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

European stock funds drew in $3.4 billion last week, the largest inflow since early 2022. Investors want exposure to the euro area as it looks increasingly likely it will avoid a recession. Investors poured in $3.4 billion into European equity funds over the past week, Bank of America said in its Flow Show note published Friday. But demand has been weaker than anticipated, leading to a roughly 70% crash from highs for natural gas prices. EU Economic Commissioner Paolo Gentiloni said this week there's "a chance to avoid a deep recession," for the bloc.

☆ Fact Check-No evidence COVID-19 mRNA vaccines are significant contributing factor to UK’s 30,000 excess cardiovascular deaths
▼ + stars: | 2023-01-24 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Millions of people have viewed a BBC News interview with a British cardiologist who used the broadcast to spread misinformation about COVID-19 vaccines. Malhotra cites the British Heart Foundation (BHF) for reporting 30,000 excess cardiovascular deaths “during the pandemic or since the pandemic”. A BHF spokesperson told Reuters that there were indeed 30,000 excess deaths involving ischaemic heart disease (IHD) in England between March 2020 and August 2022. Reuters has addressed similar claims linking COVID-19 vaccines with excess mortality (here, here and here), cardiac arrests (here, here and here), and other heart issues. Experts say the 30,000 excess cardiovascular deaths reported since the beginning of the pandemic are due to COVID-19 infection and issues with healthcare services.

☆ Premarket stocks: What we learned at Davos: The economy is a mess, but there's still hope
▼ + stars: | 2023-01-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Friday marks the end of the annual World Economic Forum meeting in Davos, Switzerland, an elite gathering of some of the wealthiest people and world leaders. The meetings between CEOs, politicians, and global figures at Davos can help set the tone for the year ahead. CEOs and political officials are also worried about the United States hitting its borrowing cap on Thursday, forcing the Treasury Department to start taking “extraordinary measures” to keep the government open. If an agreement isn’t reached, markets could plunge (like they did the last time this happened in 2011) and the United States risks having its credit rating downgraded again. China’s removal of strict coronavirus restrictions late last year is also expected to unleash a wave of spending that may offset economic weakness in the United States and Europe.

The world's largest economy risks defaulting on its debt for the first time in modern history this summer as politicians wrangle over raising the country's debt limit, currently capped at $31.4 trillion. The U.S. is expected to reach its debt limit Thursday, Treasury Secretary Janet Yellen said last week. But coming to a deal to increase the U.S. debt limit won't be easy in a political environment that's grown even more polarized in the past decade. While conservative members of his caucus insist they do not want the country to default on its debt, McCarthy is under pressure to demand deep spending cuts. Another top Wall Street CEO said he planned to push lawmakers at Davos to focus more on spending cuts rather than the debt ceiling.

☆ Peter Orszag: Davos seems a bit more downcast than usual this year
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeter Orszag: Davos seems a bit more downcast than usual this yearPeter Orszag, Lazard Financial Advisory CEO, joins 'Squawk Box' to discuss what Orszag thinks will happen on the debt ceiling, what's happening in Davos, and more.

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