DYAG News and Views - 12th January 2024
We bring you the daily roundup of the hottest news from Nigeria and around the world.
Business/Tech News
Portable XBitcoin Surge Triggered by Fake SEC Post
Fake SEC Post Triggers Bitcoin Price Spike: Social Media Platform X (formerly Twitter) confirmed that the Securities and Exchange Commission's (SEC) account was compromised, leading to a false post about the approval of a spot bitcoin exchange-traded fund (ETF). The fake tweet briefly caused a 1.8% surge in Bitcoin prices. The SEC Chair Gary Gensler stated that the tweet was unauthorized, emphasizing the need for proper cybersecurity measures. The incident adds uncertainty to the ongoing speculation about the SEC's decision on spot-traded Bitcoin ETFs.
AI-Powered Portable X-rays Revolutionize Medical Imaging
Portable X-ray machines, including ultraportable devices, are transforming medical imaging, particularly in remote locations and disaster zones. The global portable X-ray market is expected to reach $14 billion by 2028, driven by increased availability and advancements in technology. These machines, with AI capabilities, enable quick and efficient image processing, aiding in the detection of diseases like tuberculosis in regions with limited access to traditional healthcare facilities. However, concerns about radiation exposure and high costs remain challenges for widespread adoption.
Zuckerberg Ventures into Cattle Farming
Mark Zuckerberg, CEO of Meta and Facebook founder, announced on Instagram and Facebook that he's raising cattle at his Hawaiian ranch, aiming to produce the world's highest-quality beef. The cattle, a mix of wagyu and angus, are fed macadamia meal and beer produced on the ranch for a locally integrated process. While some social media users praised the initiative, others criticized Zuckerberg for contributing to environmental concerns and suggested he prioritize sharing food with the less fortunate. Zuckerberg, known for his tech ventures, has been relatively secretive about his Kauai ranch, previously facing backlash for pressuring Hawaiians to sell ancestral land.
Fitness Transformation: Magic AI Unleashes Virtual Trainer
Magic AI's AI-Powered Fitness Mirror Aims to Replace Human Trainers: Magic AI, led by CEO Varun Bhanot, has developed the Magic Mirror, an AI-powered fitness tool that acts as a virtual personal trainer. Users input biometric information, and the AI generates personalized workout programs, providing feedback and suggestions based on movements tracked by cameras. The rise of AI-powered fitness apps suggests a growing market, with estimates projecting the industry's value to reach $35.6 billion by 2030. However, opinions vary on whether AI can fully replicate the motivation derived from human interaction in the fitness realm.
Tesla Calls Back 1.6 Million Cars in China
Tesla Recalls Over 1.6 Million Cars in China: Tesla is recalling more than 1.6 million vehicles in China due to issues with steering software and door-locking systems. The recall involves various models, and the problems will be addressed through remote software updates. This comes shortly after Tesla recalled two million cars in the US for autopilot software issues. The Chinese regulator highlighted concerns with the autosteer function, emphasizing the risk of collisions. The recall is another setback for Tesla in China, where it faces increased competition and regulatory scrutiny.
Layoffs Hit Twitch, Prime Video, and MGM Amid Amazon Job Cuts
Amazon Cuts Jobs at Twitch, Prime Video, and MGM: Amazon is set to lay off hundreds of employees across its subsidiaries, including Twitch, Prime Video, and MGM studios. Twitch will see a significant reduction, with about a third of its workforce facing job cuts. The move is part of Amazon's efforts to focus on more impactful content and product initiatives. Despite strong profits, the tech giant laid off over 27,000 staff members in 2023. The job cuts add to a series of reductions in the tech sector, which experienced rapid expansion followed by contraction.
Nigeria's Top Banks Break Trillion Naira Mark in Banking
Nigeria's Top Banks Reach Trillion Naira Market Capitalization: Nigeria's five largest banks—First Bank, Access Bank, UBA, GT Bank, and Zenith Bank—now have market capitalizations exceeding ₦1 trillion ($1.09 billion). The banking sector's strong performance contributed to a market capitalization increase of ₦6.1 trillion ($6.6 billion), with three banks joining the "trillion naira club." Concerns about market dependence on a few large firms are alleviated with a more balanced market. The NGX's strong performance is also encouraging tech startups to consider listing on the exchange's tech board.
Sport/ Entertainment
MultiChoice Regains AFCON Rights in Broadcast Battle
MultiChoice Secures AFCON Broadcasting Rights: MultiChoice-owned Supersports will broadcast all 52 matches of the African Cup of Nations (AFCON) tournament, reversing a previous announcement of losing the broadcasting rights bid to New World TV. Nigerian Television Authority (NTA) also secured rights to broadcast AFCON in collaboration with Afro Sports. Other alternatives include Startimes, SkySports, Viaplay, BeIn Sports, and Canal+. The broadcasting rights situation raised questions about how MultiChoice regained the contested rights.
Eriksson Reveals Pancreatic Cancer Diagnosis, Faces One-Year Timeline
Former England football manager Sven-Goran Eriksson, known for leading the team in World Cup 2002 and 2006, disclosed his battle with pancreatic cancer, anticipating a one-year life expectancy. Eriksson resigned from Swedish club Karlstad in February 2023 due to health issues. The 75-year-old, reflecting on his condition, emphasizes a positive mindset and expresses determination to fight the disease. Eriksson's extensive managerial career includes coaching high-profile teams like AS Roma, Sampdoria, and England, facing both on-field challenges and off-field controversies.
Tiwa Savage Files Police Complaint Against Davido
Nigerian artist Tiwa Savage lodges a police complaint against Davido, accusing him of making threats following a social media dispute. Tiwa claims Davido's actions constitute a direct threat to her life, privacy, and dignity. The discord began after Tiwa posted a photo with the mother of one of Davido's children. The police in Lagos confirm receiving Tiwa's report.
Elba Calls for Urgent Ban on Machetes and Zombie Knives to Combat UK Knife Crime
Actor Idris Elba is calling on the UK government to promptly ban machetes and zombie knives as part of his "Don't Stop Your Future" campaign, aiming to tackle the rising issue of knife crime. Elba emphasizes the need to push the agenda strongly, symbolizing society's intolerance for such weapons. Alongside the ban, he advocates for increased funding in youth services and proposes a cross-party, cross-governmental working group to address knife crime. The campaign also includes the release of a song titled "Knives Down" to combat serious youth violence in the UK.
Burna Boy, Tems Top New African Magazine's 2023 Influential Africans List
Nigerian musicians Burna Boy and Tems have been featured on the New African Magazine's list of the 100 most influential Africans of 2023 in the creative category. The list encompasses a diverse range of individuals, including politicians, entrepreneurs, scientists, and sports personalities. Grammy winners Burna Boy and Tems join other notable artists like South African DJ Black Coffee, Pop star Tyla, Algerian disc jockey DJ Snake, and Canadian megastar The Weeknd. The New African Magazine recognizes individuals who have demonstrated excellence, innovation, leadership, resilience, and vision in their respective fields.
International
UN Court Hears South Africa's Genocide Case Against Israel
The UN's International Court of Justice is hearing South Africa's case accusing Israel of committing genocide against Palestinians in Gaza. South Africa calls for provisional measures, including an immediate cessation of Israel's military operations in Gaza. Israel rejects the accusation, asserting it is responding to Hamas attacks. The case, watched closely, centers on alleged violations of the Genocide Convention.
Ecuador Declares War on Armed Gangs After TV Station Attack
Ecuador's president declares war on criminal gangs after an attack on a TV station. Masked gunmen interrupt a live broadcast, leading to arrests and injuries. The country faces escalating violence linked to drug cartels. President Noboa orders military operations to neutralize organized crime and non-state actors, with the US condemning the attacks.
Former Gang Leader Linked to Tupac Murder Granted Bail
Duane "Keffe D" Davis, linked to Tupac Shakur's unsolved murder, is granted $750,000 bail. Davis faces charges of murder with a deadly weapon, with restrictions, including electronic monitoring and house arrest. His legal team argues he poses no threat, emphasizing his not-guilty plea. The decision upholds the presumption of innocence, pending trial to determine the truth behind Tupac's death.
Opportunities
Graça Machel Trust’s Women Creating Wealth (WCW) Entrepreneurship Program 2024
African women entrepreneurs are invited to apply for the WCW Entrepreneurship Program, offering vital skills, tools, business support, and networking opportunities. Act now to empower African women, fostering their business growth. Deadline: February 16, 2024. Apply here.
USADF African Women Entrepreneurs Program Reimagined 2024
The USADF, in collaboration with the US Department of State Africa Bureau, announces grants for African women entrepreneurs. If you're from Namibia, Mauritania, Senegal, Cote d’Ivoire, Malawi, Uganda, or Zambia, apply to receive $50,000-$100,000. Seize this chance to elevate your business. Apply here.
Resilient Agriculture Innovations for Nature (RAIN) Challenge 2024
Calling innovators in East Africa! RAIN is seeking agricultural ideas addressing resilience needs. Convert your seed-level innovations into sustainable businesses. Deadline: January 30, 2024. Act now to transform agriculture and attract funders.
Apply here.
Allard Photography Competition 2024 (CAD$1,000 prize)
Photographers, showcase your work aligned with the fight against corruption, emphasizing transparency, accountability, and human rights. Submit entries throughout the year and stand a chance to win CAD$1,000. Act with your lens to promote positive change. Apply here.