Business

Google's profits have quadrupled to $112billion (£84billion), following its investments in AI. In the firm's latest quarterly update, CEO Sundar Pichai said that the successful quarter was due in part to growth of its AI model Gemini and AI search queries, as well as YouTube, where more than 1.7 billion unique viewers tuned in to videos related to the 2026 FIFA World Cup. 'Our AI investments are redefining what's possible across every part of our business,' Pichai said. According to MailOnline, the company recorded more than $119billion in total revenue between April and June, up 24 percent compared to the same period last year. Its cloud business recorded more than $24billion in the quarter, and its net profit quadrupled to over $112billion - boosted massively by its AI-relate...

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured Nigerians that the ₦100 and ₦200 notes remain valid legal tender despite their apparent scarcity across the country. Speaking after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, Cardoso attributed the reduced circulation of the lower-denomination notes to the increasing adoption of digital payment systems and changing demand for physical cash. He emphasized that the apex bank has not withdrawn any currency denomination from circulation and urged Nigerians to continue accepting the ₦100 and ₦200 notes for transactions. According to him, all existing naira denominations remain legal tender unless the CBN officially announces otherwise. Cardoso explained that the decline in the avail...

Your support keeps us going. Every visit, share, comment, and recommendation helps us continue delivering timely news, quality entertainment, inspiring stories, and informative content. If you enjoy what we do, please support our work by: Visiting our website regularly. Sharing our articles with friends and family. Following our social media pages. Advertising your business, products, or services with us. Encouraging others to become part of our growing community. Together, we can build a trusted platform that informs, inspires, and empowers more people every day. 🌐 Visit: www.snowmediatv.com Thank you for believing in us and supporting independent digital journalism. Your support means everything! https://www.youtube.com/watch?v=FtwG8lGAG1I&...

The Federal Government has introduced a new consumer credit initiative that enables eligible Nigerians to acquire laptops, smartphones, tablets, and other digital devices through flexible payment plans. The programme, known as the Credit for Laptops, Internet, Connectivity and Knowledge Digital Devices (C.L.I.C.K.D.), allows beneficiaries to obtain digital devices on credit and repay the cost over time instead of making a one-time upfront payment. The initiative is being implemented by the Nigerian Consumer Credit Corporation (CREDICORP) in collaboration with the Federal Ministry of Communications, Innovation and Digital Economy. The scheme was officially launched on Tuesday in Abuja by the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, alongside the...

Kaylee Hottle, the young actress best known for playing Jia in Godzilla vs. Kong and Godzilla x Kong: The New Empire, has d!ed at the age of 18 following a tragic car accident. According to Daily mail, Kaylee was involved in a crash in Maryland. Her father, Joshua Hottle, later confirmed that she passed away after her heart reportedly stopped on the way to the hospital. Born into a deaf family, Kaylee won the hearts of many with her role as Jia, the young girl who shared a special bond with Kong through American Sign Language. Her school, the Texas School for the Deaf, also confirmed her passing in a heartfelt statement, describing her death as a heartbreaking loss while urging the public to respect her family's privacy. https://www.youtube.com/watch?v=FtwG8lGAG1I&...

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), also known as the benchmark interest rate, at 26.5 per cent. Akwa Ibom News CBN Governor Olayemi Cardoso announced the decision on Tuesday, following the conclusion of the 306th Monetary Policy Committee (MPC) meeting held in Abuja from July 20 to July 21. "The committee decided as follows: retain the monetary policy rate at 26.5 per cent," Mr Cardoso said at the MPC briefing. This decision marks the second consecutive retention of the MPR at 26.5 per cent, following a 50-basis-point reduction in February from 27 per cent. "The committee’s decision to maintain the current policy stand follows a thorough assessment of the balance of risk. Although headline inflation moderated marginally in June ...

The Federal Government disclosed on Tuesday, July 21, that it has disbursed approximately N333 billion to eight electricity generation companies (GenCos) as part of its ongoing power sector debt resolution framework.,Concurrently, the government launched a second bond issuance valued at N729 billion, designed to settle outstanding legacy debts and inject liquidity into the Nigerian Electricity Supply Industry (NESI).Addressing stakeholders at an investors’ forum organized by the Nigerian Bulk Electricity Trading (NBET) Plc in Abuja, government representatives noted that the fresh bond issuance completes the initial phase of the Presidential Power Sector Debt Reduction Programme, an initiative structured to address verified liabilities and stimulate private capital injection across the powe...

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦115 per litre. A market survey conducted on Tuesday showed that NNPCL retail outlets in Abuja and surrounding areas now sell petrol at ₦1,270 per litre, up from the previous ₦1,155 per litre. The latest adjustment comes amid growing uncertainty in Nigeria’s downstream oil sector. Several NNPCL and MRS filling stations in Abuja reportedly shut their operations on Monday, while other marketers also raised fuel prices. The development follows two upward price reviews by depot owners and fuel marketers within the past week. It also comes shortly after Dangote Refinery resumed the sale of refined petroleum products in U.S. dollars, a mo...

The Federal Government has announced that 13 of the 50 oil and gas blocks offered during the 2025 Licensing Round will be returned to the licensing pool after they failed to receive bids from investors. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, made the disclosure on Tuesday during the 2025 Commercial Bid Conference in Abuja. According to Eyesan, although 50 blocks were made available for bidding, only 37 attracted interest from prospective investors. She revealed that 143 companies participated in the commercial bid process, submitting about 200 bids for the available assets. Eyesan described the response as encouraging, noting that nearly 300 companies initially expressed interest in the licensing round, a devel...

Despite Nigeria’s headline inflation rate easing marginally in June 2026, residents in more than half of the country’s states continued to face annual inflation above 30 per cent, with Niger, Kogi and the Federal Capital Territory recording the highest rates. The latest Consumer Price Index report released by the National Bureau of Statistics showed that headline inflation slowed slightly to 15.91 per cent in June from 15.93 per cent recorded in May. However, an analysis of the state-by-state inflation data by The PUNCH showed that 19 states and the FCT, representing 20 of Nigeria’s 37 sub-national entities or 54.1 per cent, recorded annual all-items inflation rates above 30 per cent in June. The analysis also showed that Imo, which recorded the country’s lowest annual inflation r...