Disney’s stock reaches 52-week low

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July 26, 2023

Disney’s stock price continues to fall, nearing its 52-week low as investors question the future success of the company.

Once an untouchable giant in the media space, disney has fallen from grace in recent years as the company struggles to connect with its audience and pushes immoral themes in its movies and shows.

Disney’s struggles have started to catch up with the business as the stock price approaches its 52-week low. On monday, the stock closed at a price of $85.56, barely above its low closing of $84.17 on dec. 28th. If the stock were to drop two more dollars and dip below $83.83, it would be the company’s lowest closing since 2014.

Investors have been seriously questioning disney over the past year as the company has struggled in nearly every aspect of its business.

Disney+ has struggled for the first time since its release in 2020, with many of its releases seeing lukewarm reception at best and the platform’s subscriber numbers decreasing for the first time.

The movie-making leg of the company has fared no better, losing an estimated $900 million from its last eight studio releases. The box-office failures are largely due to the immoral themes that these movies have promoted.

To make matters worse, disney’s theme parks have seen their lowest attendance numbers in years. Despite multiple lucrative deals, the theme park prices have proven to be too high for families – even at the height of vacation season.

All-in-all, disney has lost touch with its audience and now has to face the financial consequences of that mistake. Hopefully, the falling stock price will prove to disney that they cannot survive with their current trajectory. A course correction needs to be made; one that involves a return to family-friendly entertainment that doesn’t push immorality.

Sound Of Freedom Unexpectedly Hits $100 Million At Box Office

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Emenike Agu

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July 26, 2023

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Sound of Freedom, the surprise box office hit based on a former government agent’s pursuit to rescue child sex trafficking victims has grossed more than $100 million at the domestic box office, despite the scrutiny the film has received for its lead actor’s statements about the child trafficking ring in Hollywood.

Sound of freedom became the first indie film in the post-pandemic era to cross the $100 million mark in north america, doing so after three weeks in theaters.

The anti-child sex-trafficking film places among the top 20 biggest releases of the year, ahead of a number of films with star-studded casts like Jennifer Lawrence’s no hard feelings and magic mike’s last dance—a striking feat given the film’s $14.5 million budget.

So far this year, it is the 16th-highest grossing north american film of the year and if it keeps climbing it’s likely to surpass scream vi, currently ranked 14th with $108 million, and the flash, currently ranked 15th with $107 million.

In its opening weekend, sound of freedom placed third behind insidious: The red door and indiana jones and the dial of destiny.

The non-major studio hollywood movie, which has been a gift to exhibition, has dynamited the red state, flyover state, and faith-based audience crowd, all of whom are intrigued by the anti-child trafficking topic. Angel studios has crowdfunded the p&a and pays back its investors, while ticket sales were also reportedly crowdfunded by right wing groups, those tickets on hand for those who can’t afford to go to the movies.

The movie posted a $14.2m opening day plus previews, with a first 3-day of $19.6m and an amazing second weekend of $27.2m, +39%.

Big Love Displaces Transformers, The Flash in Nigerian Box Office

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Emenike Agu

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July 26, 2023

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The first half of 2023 was underwhelming for Nollywood, with Hollywood movies consistently leading the Nigerian Box Office.
However, things are finally looking up the local movie industry, with inkblots’ big love leading the charge.
Despite being released less than two weeks ago, the romantic drama has earned almost ₦20 million.
The movie grossed ₦7.5 million from two days of advance screening, hinting that the inkblots’ first 2023 title was resonating with moviegoers.

Read Also: Box Office: Transformers top with ₦35 million
When the film officially opened to the public, big love racked up an additional ₦12 million.
So far, the romantic title has earned a total of ₦19. 6 million, knocking down foreign movies like transformers: Rise of the beasts, the flash, and Spider-Man: Across the spider-verse, which is always a major feat for a Nollywood movie.
Written and directed by Biodun Stephen, the film explores the eruption of love between Adil, a young and passionate man chasing his dreams, and Adina, a focused and independent woman making ends meet at a graduate training camp.

Box Office: Barbie Hits ₦39m, òrìṣà Tops Oppenheimer with ₦27m

By

Emenike Agu

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July 26, 2023

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Over the weekend, Nigerian audiences witnessed a huge movie battle at the Box office.

Greta Gerwig’s ridiculously pink Barbie, Christopher Nolan’s bleak historical drama Oppenheimer, and Odunlade Adekola’s òrìṣà debuted all at once on Friday, July 21, 2023, making for an epic showdown.

The first two seemingly had the upper hand, backed by global campaigns and the luxury of being cultural touchstones, while the local production appeared to be overshadowed by the Barbenheimer noise.

However, the recently released figures by the cinema exhibitors association of Nigeria (CEAN) say differently.

Data from ticket sales show that the domestic audience went all out for the beloved doll and Yoruba epic over Nolan’s dark tragedy.

Barbie opened with ₦39 million, while òrìṣà surprisingly surpassed Oppenheimer with ₦27. 58 million. The latter came in at fourth place with only ₦17 million.

Òrìṣà also made and continues to make an effort with a great premiere in Lagos, followed by smaller ones in nearby Yoruba cities. These have all paid off, as the indigenous title is now the highest-grossing opening film in Nollywood and the biggest epic opening of the year.

Meanwhile, mission impossible: Dead reckoning part one, which opened with ₦78 million last week, is holding steady in the face of the #orisabarbieheimer competition.

Now in its second week, the latest installment in the popular tom cruise-led franchise has earned an additional ₦31. 6 million for a total of ₦118. 9 million.

In fifth place, we have another Nigerian movie, love, lust & other things, which has now made ₦27. 5 million in three weeks.

Gangs of Lagos Not Injurious To Anyone – Amazon

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Emenike Agu

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July 26, 2023

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Amazon Nigeria. , a subsidiary of amazon Inc. And founder of prime video Nigeria, has claimed that its film, Gangs of Lagos, is not injurious to anyone.

The company, is a defendant in a suit, before a lagos high court, instituted by the isale eko descendants union (idu), following its production ‘gang of lagos’.

The IDU had sued the company, claiming ₦10 billion damages before justice Idowu Alakija of the Lagos high court, over the contents of the film.

The defendants had queried lagos state’s jurisdiction over the production of the film before the court by some indigenes of the state.

In the suit, the defendants are questioning the authority of the lagos state government to censor films and videos produced within its jurisdictions stipulated in the cinematograph law of lagos state, 2004.

The claimants are Ayodele Bajulaiye, who sued on behalf of Bajulaiye chieftaincy family and Eyo Iga Bajulaiye and Abdul-waheed Ayeni on behalf of Sasore chieftaincy family and Eyo Iga Sasore.

However, in its preliminary objection, amazon challenged the powers of the lagos state government on its regulatory role in the case.

It consequently requested the court to dismiss the lagos state cinematography law which they claimed was enacted outside the legislative competence of the lagos state house of assembly.

The defendants claimed that the high court of lagos state had no jurisdiction to compel the lagos state government to censor the said film under its cinematography law which it argued falls within the provisions of the national film and video censors board act.

The 1999 constitution, the defendants averred precludes the high court of justice from ‘’exercising jurisdiction over interpretation of the constitution as it relates to the federal government and its agencies’’.

Expect ministerial nominees within 48 hours – Senate

By

Mana Balagbogbo

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July 26, 2023

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The Senate has declared that President Bola Tinubu will make available the much-expected list of ministerial nominees within the next 48 hours, adding that the President had gone into hiding to avoid undue influence.

The Senate also urged Nigerians to pray for Tinubu to be able to make the right decision within the next 24 hours so that Nigerians will be happy with the list of his ministers at the end of the day.

According to the Senate, the list will be received in the next 24 hours, and the President decided to go into hiding for the next 48 hours to enable him to come up with a list of nominees that would be acceptable to all Nigerians.

This was disclosed on Tuesday by the Senate Leader, Senator Opeyemi Bamidele (APC, Ekiti Central) at his 60th birthday anniversary lecture and presentation of two books on Leadership, Communication at the Yar’Adua Centre, Abuja.

Bamidele said: “Let me tell you, and you must encourage me; I need to make myself unavailable for the next 48 hours because a correspondence must come to the Senate, a very crucial correspondence.

“So Mr. President, prayed for me. We should tell the rest of Nigerians to pray for me to be able to make the right decision within the next 24 hours so that when Nigerians hear the list of his ministers, they will say ‘Yes…this is uncommon’, and join us to pray for Mr. President.

“He needed to be away from any kind of influence.”

Recall that President Tinubu, who was inaugurated on 29th May 2023, has up till July 28 to send his ministerial nominees to the Senate for screening and subsequent confirmation in line with the 1999 Constitution as amended.

Chiamaka Nnadozie: Super Falcons’ premier goalkeeper for the 2023 FIFA Women’s World Cup

By

Emenike Agu

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July 26, 2023

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As the highly anticipated 2023 FIFA Women’s World Cup looms on the horizon, the spotlight intensifies on the remarkable players representing Nigeria on the international stage.

Standing tall among them is the exceptionally talented goalkeeper, Chiamaka Nnadozie, who has rightfully claimed the coveted position as the Super Falcons’ number one shot-stopper.

Nnadozie’s meteoric rise to prominence traces back to her remarkable contributions to the triumphant Rivers Angels side from 2016 to 2018

Her exceptional performances played a pivotal role in securing victory for the club in the Nigerian Women’s Championship of 2016 and the Nigerian Women’s Cup in 2016, 2017, and 2018.

It was Nnadozie’s consistent excellence that inevitably attracted the attention of the national team selectors, ultimately leading to her inclusion in the squad that clinched Nigeria’s 11th Africa Women Cup of Nations in Ghana back in 2018. Nonetheless, she found herself playing second fiddle to the veteran goalkeeper Tochukwu Oluehi at that time.

However, it was during the FIFA Women’s World Cup in 2019, held in France, where Nnadozie truly left an indelible mark on the international stage.

With Oluehi guarding the net, the Super Falcons suffered a defeat in their opening match against Norway.

In response, Coach Thomas Dennerby entrusted the then-18-year-old Nnadozie with the goalkeeping duties for the subsequent match against Korea Republic.

With remarkable bravery and skill well beyond her years, Nnadozie made several breathtaking saves, leading Nigeria to a convincing 2-0 victory over the Koreans.

This triumph not only marked Nigeria’s first World Cup win in eight years but also etched Nnadozie’s name in the annals of history as the youngest goalkeeper to keep a clean sheet at the Women’s World Cup.

Since her breakout performance, Nnadozie has solidified her position as Nigeria’s unrivaled number-one goalkeeper.

In January 2020, she inked a contract with Paris FC in France, where she has established herself as Africa’s premier female goalkeeper and one of the finest in the world.

The current season, 2022/2023, has been extraordinary for Nnadozie. Unveiling her exceptional abilities between the posts, she kept an impressive 13 clean sheets in 23 games for Paris FC.

Her remarkable contributions proved instrumental in propelling her club to a commendable third-place finish in the Feminine Division, ranking only behind powerhouses Olympique Lyonnais and PSG.

Throughout the season, Nnadozie’s crucial saves in Paris FC’s 21 league matches resulted in 12 victories and six draws. In total, she conceded a mere 17 goals, further cementing her reputation as an exceptional goalkeeper.

Paris FC’s remarkable achievement has also secured a coveted spot for Nnadozie and her teammates in next season’s UEFA Women’s Champions League.

Now, as the 2023 FIFA Women’s World Cup beckons, Chiamaka Nnadozie will embark on her journey to Australia and New Zealand as Nigeria’s undisputed number-one goalkeeper.

She will likely serve as the Super Falcons’ last line of defence, poised to leave an indelible mark on the world stage.

All eyes will be fixated on Nnadozie as she endeavours to showcase her exceptional abilities and contribute to Nigeria’s success in the tournament, demonstrating why she is hailed as one of the world’s most exceptional goalkeepers.

DSS and Prison Officials duel over Emefiele’s custody

By

Mana Balagbogbo

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July 26, 2023

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Mr. Godwin Emefiele, suspended Central Bank Governor, was prosecuted for illegal possession of firearms and granted bail by a Federal High Court sitting in Lagos yesterday, 46 days after he was arrested by the Department of State Services, DSS, and two weeks after a Federal High Court in Abuja ordered his release or arraignment for any offense he might have allegedly committed.

However, Emefiele’s arraignment was marred by a skirmish between DSS agents and officials from the Nigerian Prisons Service over which agency should take custody of Emefiele after he was granted bail in the sum of N20 million by Justice Nicholas Oweibo.

The clash between the two agencies subsequently devolved into a free-for-all when the NPS Armed Squad Commander, Williams Udom, who had gone to provide tactical assistance to prison authorities on the court grounds, was manhandled and his service uniform destroyed.

To defuse the tension, a senior female DSS officer arrived at the location hours after the standoff and had a brief conversation with NCoS officials and her operatives. This allowed the DSS to re-arrest Emefiele shortly after he exited the courthouse.

The Federal Government stated in a two-count complaint filed before the court that Mr. Emefiele was caught in possession of a single-barrel shotgun (Jojeff Magnum 8371) without a license on June 15, 2023, at No.3b Ibru Close, Ikoyi, Lagos.

In the second count, the suspended CBN governor was accused of carrying 123 rounds of live ammunition (cartridges) in his possession without a license, which is a violation of Section 8 of the Firearms Act 2004 and a criminal offense under Section 27 (1)(b)(il) of the same Act.

The government contended that the offense violated Section 4 of the Firearms Act of 2004 and that it was punished under Section 27 (1b). After the allegations were read to him, Emefiele maintained his innocence and pled not guilty.

Following the arraignment, Emefiele’s counsel, former President of the Nigerian Bar Association, NBA, Chief Joseph Daudu, SAN, drew the court’s attention to his earlier filed application for bail and urged the court to grant his client bail on self-recognition or on any other reasonable terms.

Equity Market Remain on a Positive Trajectory

By

Rhoda Onuzulike

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July 26, 2023

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The Nigerian domestic equities market ended bullish on Tuesday sustaining the gains of the previous day with more profit-taking activities on of medium and blue chip stocks.

Key market indices at the Nigerian Exchange Group Limited, NGX remained on a positive trajectory at the close of the second trading session of the week.

The market capitalisation of listed equities increased by additional N393 billion to close at N35.932 trillion higher than the N35.539 trillion of the previous day.

The market maintained its positive sentiment even as the Monetary Policy Committee of the Central Bank of Nigeria voted to increase the benchmark interest rate by 25 basis points to 18.75 per cent from 18.5 percent.

Similarly, the All-Share Index at the Exchange appreciated further by 720.53 basis points representing a 1.11% increase to close at 65,988.81 points compared to Monday’s 65,268.28 points.

The day’s trading session closed with 32 gainers and 30 losers.

FTN Cocoa Processors and IKEJA Hotel led the gainers chart with a 10% profit on their respective prices closed at N2.42k and N2.97k.

SEPLAT followed with a 9.99% gain on its share price to close at N1,539.70k while SKYAVN had a 9.83% profit on its share price to close at N19.55k.

On the other hand, CONOIL and LEARNAFRCA led the decliners table with a 10% loss on their respective share prices to close at N101.25k and N4.10k.

John Holt followed with a 9.96% loss on its share price to close at N2.44k; then MULTIVERSE shares dropped by 9.88% to close at N3.01k

The market sentiment when measured by market breadth however, ended negative in terms of deals, volume of trade and value by 14.09%, 33.43% and 42.62% to 8,313, 553.52 and N7.42 billion respectively.

Head Teachers In England Accept 6.5% Pay Rise

By

Nzubechukwu Anodo

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July 25, 2023

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Members of a head teachers’ union in England have accepted a 6.5% pay rise for teachers.

The Association of School and College Leaders (ASCL) said 87% of members had voted to accept the pay rise from September, with a 46% turnout.

The leaders of all four teaching unions in the dispute, including the ASCL, have recommended their members accept.

The vote and the decision to call off the ballot is another indication that further strikes are unlikely to go ahead in England in the autumn term.

ASCL’s general secretary, Geoff Barton said the strength of feeling demonstrated by holding our industrial action ballot was instrumental in achieving the settlement to this dispute.

Three other unions are yet to announce their members’ responses to the pay offer, which union leaders have recommended they accept.