The Nigerian All-Share Index (ASI) wrapped up trading on December 5, 2024, on a slightly negative note, retreating by 60.88 points to close at 98,114.11. Despite maintaining its position just above the 98,000-threshold, the index recorded a modest decline of 0.06%, signaling a minor pullback even as market activity showed signs of life. In a notable turn, trading volume surged significantly, with a total of 722 million shares changing hands — a robust 38.52% increase compared to the previous session. Related Stories Market Wrap: All-Share Index climbs 472.43 points to 98,174.99 as GOLDBREW leads gainers, SUNUASSUR tops losers Market Wrap: All-Share Index gains 487.24 points as VITAFOAM leads gainers, PRESTIGE tops losers Market capitalization held steady at an impressive N59.4 trillion, buoyed by 8,495 individual transactions throughout the day. Among the day’s top performers, UPL led the charge with a 10.00% surge, closely followed by CORNERST, which also gained 10.00%. STERLINGNG rounded off the top three with a strong 9.98% increase. On the flip side, REDSTAREX led the losers, shedding 10.00% of its value, with FTNCOCOA following closely behind, dropping by 5.61%. In terms of trading activity, CHAMPION and FIDELITYBK emerged as the day’s most actively traded stocks, capturing the market’s attention with substantial volumes. Current ASI: 98,114.11 points Previous ASI: 98,174.99 points Day Change: +0.06% Year-to-Date Performance: +31.21% Volume Traded: 722.9 million shares Deals: 8,495 UPL: up 10.00% to N3.96 CORNERST: up 10.00% to N3.30 STERLINGNG: up 9.98% to N4.85 SUNUASSUR: up 9.98% to N4.63 GOLDBREW: up 9.84% to N4.91 REDSTAREX: down 10.00% to N4.41 FTNCOCOA: down 5.61% to N1.85 NPFMCRFBK: down 3.23% to N1.50 NEIMETH: down 2.78% to N2.10 PRESTIGE: down 2.50% to N0.78 On December 5, 2024, the Nigerian equities market experienced a significant uptick in trading activity, with volume rising by 38.52%. A total of 722 million shares exchanged hands, up from 521 million shares in the previous session. CHAMPION dominated the day’s trading, with a commanding 300.9 million shares traded, making it the most actively traded stock. FIDELITYBK followed with 48.5 million shares, while GTCO was not far behind, with 40.1 million shares changing hands. Other notable contributors included ACCESSCORP (35.6 million shares) and WAPCO, completing the top five with 29 million shares traded. Trading value: In terms of value, GTCO led the charge with a substantial N2.1 billion in transactions. WAPCO followed closely, with N2.0 billion in trade value, signaling continued investor interest. MTNN and CHAMPION also attracted significant attention, contributing N1.9 billion and N1.2 billion to the day’s total value, respectively. ACCESSCORP rounded out the top five with N858.8 million in transactions, further reflecting robust investor engagement in key stocks. Among the SWOOT stocks — those with market capitalizations exceeding N1 trillion — only ARADEL experienced a decline, shedding 1.48% during the session. Meanwhile, the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITH BANK, saw positive price movements across the board. ACCESSCORP led the charge with a notable 1.84% increase, followed by GTCO with a modest 0.19% gain, and UBA with a slight uptick of 0.15%. On the other hand, FBNH saw a small dip of 0.38%, while ZENITH BANK experienced a more significant decline of 1.68%. If the positive momentum among individual stocks continues in the coming sessions, there is potential for the index to climb toward the 99,000 mark and surpass the N60 trillion market capitalization threshold. With bullish sentiment steadily building across multiple sectors and sustained investor interest, the Nigerian equities market is expected to maintain its upward trajectory in the near term.Canadians bristle - or shrug - at Trump's trollingWhy 2024 Was the Year of Brain RotKendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Ancient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 19 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 19 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 167,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat sent to restaurants nationwide. Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli, which can cause life-threatening infections. No illnesses have been reported outside of Minnesota. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.”
Social media users are misrepresenting a report released Thursday by the Justice Department inspector general's office, falsely claiming that it's proof the FBI orchestrated the Capitol riot on Jan. 6, 2021. The watchdog report examined a number of areas, including whether major intelligence failures preceded the riot and whether the FBI in some way provoked the violence. Claims spreading online focus on the report's finding that 26 FBI informants were in Washington for election-related protests on Jan. 6, including three who had been tasked with traveling to the city to report on others who were potentially planning to attend the events. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Kendrick Lamar's new album does not feature Taylor Swift after claims he was working with his Bad Blood partner againZestt Wellness co-founders Darcy Schack and Anna Campbell showcase their Zestt Breathe+ lozenges at their Stafford St offices. PHOTO: GREGOR RICHARDSON A Dunedin bioactives company has devised a plant-based lozenge to help people sleep and breathe easier. Tim Scott chats to Zestt Wellness co-founder Anna Campbell about the product. Helping a 90-year-old woman to sleep and breathe better was what made Anna Campbell realise her company’s product could make a difference. The co-founder of Dunedin bioactives company Zestt Wellness said people experiencing daily respiratory problems could notice a difference ‘‘straight away’’ thanks to Zestt Breathe+ — a nutraceutical plant-based lozenge and liquid which helped reduce some of the symptoms associated with inflammation in the lungs and increased oxygen levels around the body. One customer from the United States had rung to tell her about the difference the product had made to his 90-year-old mother, who suffered from a respiratory illness but was now able to breathe and sleep better, Dr Campbell said. ‘‘At the end of the phone call, he just said to me, ‘God bless you’. ‘‘I’m not a religious person or anything, but I kind of realised then what a great honour it was to be able to help people. ‘‘That was a really big moment and I’ve had lots of customers contact us that are just so happy with the product.’’ Dr Campbell, who has a background in plant biotechnology, said the business was started because her fellow co-founder Darcy Schack suffered from the autoimmune disease sarcoidosis, which had led to chronic obstructive pulmonary disease (COPD) and had caused a lot of inflammation in his respiratory system. He was needing to take 26 different pharmaceuticals, including some ‘‘pretty nasty’’ steroid doses, to downgrade the inflammation. ‘‘We’re both scientists, and we kind of figured out that there must be better ways of reducing inflammation than having to take 26 pharmaceuticals.’’ The lozenge, originally developed in liquid form, was marketed for those who wanted to breathe and sleep better, she said. It contained anthocyanins, quercetin, zinc, New Zealand rātā honey and an oral probiotic from fellow Dunedin biotech company Blis Technologies. Dr Campbell said Zestt had been selling the product as a nutraceutical to the New Zealand market for the past four years and was looking to expand to China, the US and Australia. It is in the middle of clinic trials with the University of Otago and Dunedin Hospital, and the pilot trials had produced some ‘‘really good results’’ that showed the product did reduce inflammation and helped promote oxygen around the body. There were a lot of immunity products in the supplement industry but not as many that targeted the whole respiratory system, nor with the scientific rigour behind their product. The long-term aim was to sell the product as an over-the-counter medicine, as well as making it cheaper so it would be more accessible for people with low incomes, Dr Campbell said. It had so far proven ‘‘really popular’’, with some customers making close to 50 repeat orders since the lozenge was launched. Orders had been received from customers in Singapore, China, the US, United Kingdom and Germany — all by word of mouth, she said. As well as being organic and natural, the product was really high in antioxidants. ‘‘So it’s good for your lungs but it’s also good for your body.’’ The company began investigating the product about a year before the Covid-19 pandemic, and had heard from a lot of people that it had helped them recover faster from the virus, she said. Zestt tried to use New Zealand ingredients whenever it could, and Dr Campbell said it was her dream for the country to be seen as the health capital of the world. tim.scott@odt.co.nzDiscover the KEC (Kaichain) Listing on XTLightPath Technologies Introduces New Optical Gas Imaging Camera for Ammonia and SF6 Detection
NoneFACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
Q3 Sales and operating results better than guidance Q3 Sales increase of 7% represents sequential improvement for the fifth consecutive quarter Raises full year 2024 outlook and provides fourth quarter guidance REYNOLDSBURG, Ohio, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Victoria’s Secret & Co. (“Victoria’s Secret” or the “Company”) (NYSE: VSCO) today reported financial results for the third quarter ended November 2, 2024. Chief Executive Officer Hillary Super commented, “I am very encouraged by the strength of our third quarter business and the positive, early customer response to our holiday merchandise assortments. Sales increased 7% for the quarter, with mid-single digit growth in North America and 20+% growth from our International business. Our sales performance was well ahead of our expectations, and our best quarterly sales growth since 2021. Our strength for the quarter was broad based across all regions, all channels, all major merchandise categories and importantly all brands - Victoria’s Secret, PINK and Adore Me - were up to last year. We won the major moments during the quarter, starting with PINK back to campus in August, followed by our VSX sport launch in September and finishing the quarter with the return of the VS Fashion Show in October. I am particularly optimistic because these results were powered by emotional products she loves and clear, elevated brand marketing and storytelling. Our strength in sales and disciplined inventory management translated to strong margins which were up to last year, and our teams continue to be relentless on controlling costs in our business. I want to thank our VS&Co team whose passion for our brands and commitment to our customers and our transformation fueled these results. It was a great quarter for me to have joined the company and a great quarter to be on the VS&Co team.” Hillary continued, “We are excited to see our momentum from the third quarter continue through Black Friday and Cyber Monday. Our merchandise offering and giftable product assortments are resonating with the customer and driving traffic both in stores and online. The strong product acceptance supported by our best-in-mall store experience and dozens of digital enhancements are driving solid conversion and basket size. As I travel with the teams, I have observed that our stores are often the busiest in the mall and am particularly impressed with how we continue to serve and engage our customers.” Third Quarter 2024 Results The Company reported net sales of $1.347 billion for the third quarter of 2024, an increase of 7% compared to net sales of $1.265 billion for the third quarter of 2023 and above our previously communicated guidance range of a net sales increase of low-single digits. Total comparable sales for the third quarter of 2024 increased 3%. The Company reported a net loss of $56 million, or $0.71 per share for the third quarter of 2024. This result compares to a net loss of $71 million, or $0.92 per share for the third quarter of 2023. Third quarter 2024 operating loss was $47 million compared to $67 million in the third quarter of 2023. Excluding the impact of the items described at the conclusion of this press release, third quarter 2024 adjusted net loss was $39 million, or $0.50 per diluted share, which was better than our previously communicated range of an adjusted net loss of $0.60 to $0.80 per share and better than last year’s third quarter adjusted net loss of $66 million, or $0.86 per share. Third quarter 2024 adjusted operating loss of $28 million was favorable to our previously communicated guidance of an adjusted operating loss in the range of $40 to $60 million, and last year’s third quarter adjusted operating loss of $60 million. Full Year and Fourth Quarter 2024 Outlook The Company is raising its full year outlook and is now forecasting net sales for the 52-week fiscal year 2024 to be up approximately 1% to 2%, compared to prior guidance of down approximately 1%, to a comparative 52-weeks from fiscal year 2023. The Company estimated the extra week in the fourth quarter of 2023 represented approximately $80 million in net sales. At this forecasted level of sales, adjusted operating income for fiscal year 2024 is now expected to be in the range of $315 million to $345 million, or favorable to prior guidance of $275 million to $300 million. The Company is forecasting net sales for the 13-week fourth quarter 2024 to increase approximately 2% to 4% to a comparative 13-weeks from the fourth quarter of 2023. At this forecasted level of sales, adjusted operating income for the fourth quarter of 2024 is expected to be in the range of $240 million to $270 million. Adjusted net income per diluted share for the fourth quarter of 2024 is estimated to be in the range of $2.00 to $2.30. Forecasted adjusted operating income and adjusted net income per diluted share for the fourth quarter and full year 2024 exclude the financial impact of purchase accounting items related to the Adore Me acquisition, including expense (income) related to changes in the estimated fair value of contingent consideration and performance-based payments, as well as the amortization of intangible assets. The Company is not able to provide a reconciliation of forward-looking adjusted operating income or adjusted net income per diluted share to the most directly comparable forward-looking GAAP financial measures because the Company is unable to provide a meaningful or accurate reconciliation or estimation of certain reconciling items without unreasonable effort, due to the inherent difficulty in forecasting the timing of, and quantifying, the various purchase accounting items that are necessary for such reconciliation. Quarterly Earnings Conference Call Victoria’s Secret & Co. will conduct its third quarter earnings call at 8:00 a.m. Eastern on Friday, December 6, 2024. To listen, call 1-800-619-9066 (international dial-in number: 1-212-519-0836); conference ID 5358727. For an audio replay, call 1-800-839-1334 (international replay number: 1-203-369-3831); conference ID 2485654 or log onto www.victoriassecretandco.com . The materials accompanying the earnings call have been posted on the Investors section of the Company’s website. The audio replay will be available approximately two hours after the conclusion of the call. About Victoria’s Secret & Co. Victoria’s Secret & Co. (NYSE: VSCO) is a specialty retailer of modern, fashion-inspired collections including signature bras, panties, lingerie, casual sleepwear, athleisure and swim, as well as award-winning prestige fragrances and body care. VS&Co is comprised of market leading brands, Victoria’s Secret and PINK, that share a common purpose of supporting women in all they do, and Adore Me, a technology-led, digital first innovative intimates brand serving women of all sizes and budgets at all phases of life. We are committed to empowering our more than 30,000 associates across a global footprint of 1,380 retail stores in nearly 70 countries. We strive to provide the best products to help women express their confidence, sexiness and power and use our platform to celebrate the extraordinary diversity of women’s experiences. Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements, and any future performance or financial results expressed or implied by such forward-looking statements are not guarantees of future performance. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “will,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “continue,” “potential” and any similar expressions are intended to identify forward-looking statements. Risks associated with the following factors, among others, could affect our results of operations and financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements: we may not realize all of the expected benefits of the spin-off from Bath & Body Works, Inc. (f/k/a L Brands, Inc.); general economic conditions, inflation, and changes in consumer confidence and consumer spending patterns; market disruptions including pandemics or significant health hazards, severe weather conditions, natural disasters, terrorist activities, financial crises, political crises or other major events, or the prospect of these events; our ability to successfully implement our strategic plan; difficulties arising from turnover in company leadership or other key positions; our ability to attract, develop and retain qualified associates and manage labor-related costs; our dependence on traffic to our stores and the availability of suitable store locations on satisfactory terms; our ability to successfully operate and expand internationally and related risks; the operations and performance of our franchisees, licensees, wholesalers and joint venture partners; our ability to successfully operate and grow our direct channel business; our ability to protect our reputation and the image and value of our brands; our ability to attract customers with marketing, advertising and promotional programs; the highly competitive nature of the retail industry and the segments in which we operate; consumer acceptance of our products and our ability to manage the life cycle of our brands, remain current with fashion trends, and develop and launch new merchandise, product lines and brands successfully; our ability to realize the potential benefits and synergies sought with the acquisition of AdoreMe, Inc.; our ability to incorporate artificial intelligence into our business operations successfully and ethically while effectively managing the associated risks; our ability to source materials and produce, distribute and sell merchandise on a global basis, including risks related to: political instability and geopolitical conflicts; environmental hazards and natural disasters; significant health hazards and pandemics; delays or disruptions in shipping and transportation and related pricing impacts; and disruption due to labor disputes; our geographic concentration of production and distribution facilities in central Ohio and Southeast Asia; the ability of our vendors to manufacture and deliver products in a timely manner, meet quality standards and comply with applicable laws and regulations; fluctuations in freight, product input and energy costs; our and our third-party service providers’ ability to implement and maintain information technology systems and to protect associated data and system availability; our ability to maintain the security of customer, associate, third-party and company information; stock price volatility; shareholder activism matters; our ability to maintain our credit rating; our ability to comply with regulatory requirements; and legal, tax, trade and other regulatory matters. Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. Additional information regarding these and other factors can be found in “Item 1A. Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 22, 2024. Total Net Sales (Millions): 1 – Results include consolidated joint venture sales in China, royalties associated with franchised stores and wholesale sales. Comparable Sales Increase (Decrease): NOTE: Please refer to our filings with the Securities and Exchange Commission for further discussion regarding our comparable sales calculation. 1 – Results include company-operated stores in the U.S. and Canada, consolidated joint venture stores in China and direct sales. 2 – Results include company-operated stores in the U.S. and Canada and consolidated joint venture stores in China. Total Stores: 1 – Includes twelve partner-operated stores at 11/2/24.
The Chairman of the Independent National Electoral Commission, Prof. Mahmood Yakubu, on Sunday commended Ghana’s electoral process, highlighting its innovations and political stability as key factors in the smooth conduct of the elections. Ghana’s former President John Mahama won the country’s presidential election held on Saturday, December 7, 2024, after his main opponent, Vice President Mahamudu Bawumia, conceded defeat. According to AFP, the Election Commission had said the official results were likely to be announced by Tuesday. The INEC chairman, who monitored the election and spoke in a short video obtained by our correspondent, observed the political stability inherent in Ghana’s democracy, noting the consistency of its political party structures and voter loyalty. Yakubu cited the perseverance of the main opposition candidate, a former vice president and president, who contested multiple elections before achieving success. “Rarely in Ghana do you see people moving from one party to another with every general election. So, that is important. “It provides stability.It also provides their supporters stability. So, there are people who support political parties for many years. So, whether the party is in power or in opposition, they stick to the political party,” he added. The INEC Chairman also noted that Ghana’s approach to managing results at the constituency level, inspired by Nigeria, has improved the efficiency of the electoral process. Previously, all parliamentary and presidential results were sent to the Electoral Commission headquarters in Accra for announcement. However, Ghana has adopted a decentralised system, allowing constituency-level officers to announce parliamentary results locally, while only presidential results are sent to Accra. Related News Ghana: CJID, DUBAWA harp on credible polls Jonathan leads West Africa Elders Forum to Ghana election Ghana’s deputy finance minister pulls gun on youths in self-defence “The second thing for me is the lesson that Ghana also learnt from Nigeria in the area of managing constituency election results. Until the last election in Ghana, all results come to the Electoral Commission headquarters in Accra; that is parliamentary and presidential. “Although Ghana is not a federal system, they learnt from Nigeria where you have returning officers that announce results for parliamentary elections in the various constituencies around the country. Only the presidential election results come to Accra. “In Nigeria, this is what we have done and they borrowed a leave from us and this is the second time they are implementing that. That is why, as you can see, the declaration of the presidential election result was a lot faster than it used to be in the past,” he explained. Expressing satisfaction with the process, Yakubu stated, “We are grateful that the election has gone very well. The process and its outcome so far have been commendable, and we continue to support our colleagues in Ghana’s Electoral Commission.” The defeat in Saturday’s election ends two terms in power for the governing New Patriotic Party under President Nana Akufo-Addo, marked by Ghana’s worst economic crisis in years, involving high inflation and a debt default. Mahama, who was president of Ghana between July 2012 and January 2017, confirmed on X he had received Bawumia’s congratulatory call over his “emphatic victory.” AFP reported that with a history of democratic stability, Ghana’s two main parties, the NPP and NDC, have alternated in power since the return to multi-party politics in 1992. Under the slogan “Break the 8” — a reference to two terms in power — Bawumia had sought to lead the NPP to an unprecedented third term. However, he struggled to overcome criticism of Akufo-Addo’s economic record. Although inflation slowed from more than 50 per cent to around 23 per cent and other macroeconomic indicators stabilised, economic struggles remained a key issue for many voters. This frustration paved the way for Mahama’s comeback challenge. Mahama, who served as president from 2012 to 2017, had previously failed in two presidential bids.
Article content A Missouri couple has been charged with child abuse after attempting to circumcise a child at their home last week. Recommended Videos According to local reports, Tyler Wade Gibson, of Versailles, was charged with felony counts of abuse of a child and unauthorized practice of medicine or surgery. His wife, Bailey Alexus Gibson, was charged with child abuse. “The procedure did not go as planned,” court documents say, according to ABC affiliate KMIZ . The child was brought to one hospital on the night of Nov. 27 before being sent to another hospital for treatment. The Gibsons then “left the hospital against medical advice,” reads the court documents. Authorities in Morgan County say they received a call from the Department of Social Services on U.S. Thanksgiving Day about a child who had undergone a circumcision at a home. Officers were sent to the couple’s home and put them under arrest. The father is alleged to have told cops that he performed the procedure with a “utility tool,” court documents said. RECOMMENDED VIDEO He also said he was not formally trained as a doctor but claimed he “conducted research and prayed a blessing.” “ Tyler further explained that he placed pads to catch the blood and sterilized the blade,” according to court documents. The child was taken to the hospital because he was not prepared for the amount of bleeding, he told officers. After staff warned the couple not to leave the hospital, he told officers they waited for four hours before going home “because they grew tired of waiting,” court documents said. His wife alleged she assisted him with the circumcision.
Rachel Christian | (TNS) Bankrate.com Just because retirement planning involves some guesswork doesn’t mean it has to be a total mystery. Related Articles Business | Nearly half of US teens are online ‘constantly,’ Pew report finds Business | How to protect your communications through encryption Business | About 2.6 million Stanley cups recalled after malfunctions caused burns. Is your mug included? Business | Musk says US is demanding he pay penalty over disclosures of his Twitter stock purchases Business | Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees Whether you’ve been saving since your first job or you’re getting a late start, you can leverage expert-recommended strategies to gauge your progress on the road to retirement. And if you’re not quite on track, don’t sweat it — the experts we spoke to offered actionable tips to help you close the gap. 5 ways to tell if you’re on track for retirement You might have a general idea of how much money you need to save for retirement . A few quick calculations can give you an estimate, but to truly appreciate where you stand, you’ll need to dive into the numbers. Here’s how to get started. 1. Use the Rule of 25 to get a ballpark number A good rule of thumb to estimate your retirement savings goal is the Rule of 25 . Simply multiply your desired annual retirement income by 25. The result is roughly how much you’ll need to save before hitting retirement. For example, if you plan to spend $50,000 a year, you’ll need about $1.25 million to make it a reality. The Rule of 25 is based on the idea that withdrawing 4% annually from your retirement savings should last you about 30 years. While it’s not an exact science by any means — health care costs and lifestyle changes can skew the numbers, for example — the Rule of 25 can be a good starting point to figure out how much you need to save. 2. Compare your savings to Fidelity guidelines Fidelity Investments, a behemoth in the retirement planning space, offers savings guidelines to help you determine if you’re on track . —By age 30: Save 1x your annual salary —By age 40: Save 3x your annual salary —By age 50: Save 6x your annual salary —By age 60: Save 8x your annual salary —By age 67: Save 10x your annual salary For example, if you earn $60,000 annually, you should aim for $600,000 in savings by age 67. But like the Rule of 25, Fidelity’s guidelines offer a 10,000-foot look at retirement goals, and they’re not customized to your situation. Maybe you earned a low salary in your 20s, but you’re working hard in your 30s to make up for it. Use these estimates as a benchmark — but don’t get discouraged if you’re lagging behind. 3. Use an online retirement calculator Now it’s time to zoom in a little. To get a clearer snapshot of your progress, use an online retirement calculator. These tools factor in your age, current savings, income and lifestyle goals to estimate whether you’re on track. You’ll get a more refined estimate without crunching the numbers yourself. Bankrate’s retirement calculator even lets you input different rates of return on your investments and accounts for estimated annual salary increases. 4. Map out your retirement budget Having a general savings goal is nice, but to avoid falling short in retirement, you’ll need more than a ballpark figure. Experts recommend creating a retirement budget to get an up-close-and-personal look at how much you’ll really need once you leave the workforce. First, estimate how much you’ll spend per month in retirement. While some costs will increase, like health care, others will likely decrease, like dining out and commuting. “Estimating expenses can be challenging for some people, so as a starting point, I often use your net take-home pay,” says Jeff DeLarme, a certified financial planner and president of DeLarme Wealth Management. For example, if you receive a direct deposit of $2,500 every two weeks from work, use $5,000 as your estimated monthly spending in retirement. “Assuming this was enough to pay the bills while working, we can use $5,000 a month as a starting budget to plan for,” says DeLarme. Next, map out your sources of income in retirement. Social Security is the largest income stream for most retirees, but don’t neglect other inflows, such as: —Workplace retirement accounts, like 401(k)s —Personal retirement accounts, like a traditional or Roth IRA —Pensions —Annuities —Selling your home or business —Rental income —Inheritance “If there’s a gap between your expected expenses and income, you’ll have a good idea of how much you need to save,” says Mike Hunsberger, a certified financial planner and owner of Next Mission Financial Planning. From there, you can adjust your savings and investment strategy accordingly. 5. Talk to a financial adviser For something as important (and complex) as retirement planning, it pays to speak with a professional. Financial advisers can analyze your savings, investments and retirement goals to create a personalized plan. Advisers use special planning software that account for more variables than an online calculator, giving you a much more precise, granular look at your financial life in retirement. Many financial advisers can also help you optimize your tax strategy, which can potentially save you thousands of dollars over time. Make sure the adviser you hire is a fiduciary , meaning they’re legally obligated to prioritize your interests over their own. A fiduciary won’t push investments to earn a commission or recommend products that aren’t aligned with your needs. A certified financial planner is one of the most well-recognized designations for fiduciaries. You can use Bankrate’s adviser matching tool to find a certified financial planner in your area in minutes. 5 ways to catch up on retirement savings Maybe you did the math and realized you’re not quite where you need to be. Don’t panic if you’re behind schedule. Here are five strategies experts recommend to help you catch up on your retirement savings . 1. Scale back your spending now and in retirement Cutting expenses now frees up more cash to invest in your retirement accounts. Evaluate your budget and identify areas where you can cut costs, like dining out, streaming subscriptions or shopping. Don’t rule out bigger lifestyle changes either, especially if retirement is rapidly approaching. Housing is the biggest monthly expense for most people. Getting creative here can help amplify the amount you can sock away, says Joseph Boughan, a certified financial planner and managing member at Parkmount Financial Partners. It can also reduce your expenses in retirement, so you may not need to save as much as before. “Downsizing can be a great way to cut expenses,” says Boughan. “This can even free up cash if you don’t end up needing all that money for a new home.” Moving somewhere with lower property taxes or income taxes can also help bring your retirement plan back in line. And if you’re a renter, making tough short-term decisions, like taking on a roommate or moving to a lower cost-of-living area, can free up hundreds of dollars a month for your retirement. “Everyone’s plan is unique, so exploring all the options is important,” Boughan says. Joe Conroy, a certified financial planner and owner of Harford Retirement Planners, recommends taking a “retirement test drive” as you near your target date. “Start to live on what income you think you can afford in retirement and stash all the extra income into savings and investments,” says Conroy. “If you can make it through each month, you’re ready for retirement. If you run short, then adjust your plan accordingly.” 2. Delay retirement by a year or two Working a little longer can be a game-changer for your retirement nest egg. Not only does it give you more time to save, it also gives your investments room to grow. “Working longer or even just part time for a few years early in retirement is one of the best ways to reduce the amount of money you need to save,” says Hunsberger. Postponing retirement can also boost your Social Security benefits . “You can claim as early as 62, but your benefits will be reduced significantly,” says Hunsberger. Meanwhile, each year you delay claiming Social Security benefits beyond your full retirement age , your monthly check will increase by 8%, though this benefit maxes out at age 70. So waiting can really pay off. 3. Save more It may seem obvious, but if you’re behind on retirement savings, you’ll need to boost your contributions as much as possible. Here are a few ways to make saving for retirement easier: —Increase your contribution rate: Allocate a larger portion of your paycheck to a workplace retirement plan. Even bumping up your contributions by 1% or 2% can make a huge difference down the road. —Take advantage of your employer match: Don’t leave free money on the table. Many employers will chip in between 3 and 5% depending on your plan, so make sure you’re contributing enough to take advantage of the benefit. —Use “unexpected” money to catch up: If you get a raise or bonus at work, funnel part of it directly into your 401(k). And if you get a refund at tax time, siphon some of it off to beef up your IRA. 4. Invest more aggressively If you’ve been investing in low-risk, low-return investments, you may not be keeping up with inflation, let alone growing your nest egg. Reallocating part of your portfolio to stocks or low-cost growth exchange-traded funds (ETFs) is one way to get your money working harder. Higher-risk investments like stocks carry more volatility but also offer higher potential returns. Work with a financial adviser or use a robo-adviser to strike the right balance between growth and your personal risk tolerance. 5. Take advantage of new retirement account catch-up contributions Contribution limits for 401(k) plans and IRAs are higher for people over 50. For 2025, employees aged 50 and up who participate in most 401(k) plans or the federal government’s Thrift Savings Plan can save up to $31,000 annually, including a $7,500 catch-up contribution . But thanks to SECURE 2.0 , a sweeping retirement law, a new higher catch-up contribution limit of $11,250 applies for employees ages 60 to 63. So, if you’re in this age group, you can squirrel away a whopping $34,750 a year during the final stretch of your career. Of course, you’ll need a big salary (think six figures) in order to take full advantage of such massive contribution limits. But if you can afford it, these catch-up allowances can put your plan back on track, especially if you struggled to save much early in your career. Bottom line There’s no GPS to gauge your progress on the road to retirement. If you’ve veered off course or aren’t sure where to start, begin by getting a quick estimate of how much you’ll need before mapping out a retirement budget. And if you’re behind, don’t panic — adjusting your spending, boosting your contributions and speaking with a financial adviser can help you catch up. ©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.None