News
U.S. election: Dollar, Bitcoin soar high as Trump wins
By Kayode Sanni-Arewa
The United States dollar has surged as Republican Donald Trump surged to win back the White House in the presidential race.
Bitcoin is also at a record high as traders bet on potential tax cuts, tariffs, and rising inflation under Trump.
The result of the election is expected to have a major impact on the global economy.
The Republican Party has also taken control of the Senate but there are still votes left to count.
The dollar has soared by around 1.5% against a host of different currencies, including the pound, euro and the Japanese yen.
Meanwhile, the value of Bitcoin jumped by $6,000 (£4,645) to a record high of $75,371.69, surpassing the previous high of $73,797.98 in March this year.
In Japan, the benchmark Nikkei 225 stock index ended the session up by 2.6%, while Australia’s ASX 200 closed 0.8% higher.
Experts are predicting a turbulent day for the financial markets as a response to global uncertainty and Trump’s potential plans for the economy.
“Many of his measures will be inflationary and likely to lead to a rise in bond yields, putting pressure on the Federal Reserve in its quest to bring interest rates down,” BBC quoted Lindsay James, investment strategist at Quilter Investors, as saying.
Trump has pledged to make the U.S. the “bitcoin and cryptocurrency capital of the world”.
He plans to put billionaire Elon Musk in charge of an audit of governmental waste.
The major U.S. stock indexes also look likely to open sharply higher. That came after the Dow Jones Industrial Average, S&P 500, and Nasdaq all closed more than 1% higher on Tuesday.
Tesla’s Frankfurt-listed shares rallied over 14% at the open on Wednesday. Elon Musk, Tesla’s top shareholder, has supported Trump throughout his electoral campaign.
Trump has said he would dramatically increase trade tariffs, especially on China, if he became the next U.S. president.
“Trump’s global trade policies are causing particular angst in Asia, given the strong protectionist platform on which more aggressive tariffs on imports into the US have been pledged,” said Katrina Ell, director of economic research at Moody’s Analytics.
The former president’s more isolationist stance on foreign policy has also raised questions about his willingness to defend Taiwan against potential aggression from China.
The self-ruling island is a major producer of computer chips, which are crucial to the technology that drives the global economy.
Meanwhile, Trump’s tax-cutting agenda has also been broadly welcomed by big American companies.
“If Trump gets elected, we should see pro-business policies and tax cuts, in turn possibly driving up inflation and less rate cuts,” said Jun Bei Liu, portfolio manager at Tribeca Investment Partners.
However, not all indexes have reacted positively to the potential of a Trump victory.
In mainland China, the Shanghai Composite Index ended the day down 0.1%, while Hong Kong’s Hang Seng was down by around 2.23%.
Investors also have other key issues to focus on this week.
On Thursday, the U.S. Federal Reserve is due to announce its latest decision on interest rates.
Comments from the head of the central bank, Jerome Powell, will be watched closely around the world.
On Friday, top Chinese officials are expected to unveil more details about Beijing’s plans to tackle the slowdown of the world’s second-largest economy
News
Divorced Woman Rejects Ex-Husband’s $273m Lottery Win
In a surprising twist, a newly divorced couple is making headlines after the husband won a massive $273 million in the lottery, just five months after their divorce.
The story has captured the attention of many, particularly because of the way the couple is handling the unexpected windfall.
Mike Murski, who had struggled with maintaining steady employment during his 15-year marriage to Eileen, is now a millionaire. Despite his newfound fortune, Eileen, who was the primary breadwinner during their marriage, says she has no interest in any of the winnings.
When asked if she believed she was entitled to a portion of the lottery jackpot, Eileen firmly responded, “The only thing that I would like to see is, obviously, termination of spousal support.” She explained that while the large sum of money was a life-changing event for Mike, it did not alter her feelings toward him or their past. “Now that you have money, it doesn’t mean that I would want to come back,” she added, making it clear that the lottery win wouldn’t change her decision to divorce.
Their marriage, which ended five months ago, was far from amicable, and Eileen emphasized that the jackpot wouldn’t affect her stance. Despite the overwhelming amount of money Mike had just come into, she clarified, “$270 million does not make me appealing to her.” This statement came from Mike himself, as he reflected on how the lottery win might influence his ex-wife’s perception of him. When asked if he believed her, Mike remained indifferent, stating, “I don’t care.”
While Eileen seems more focused on the future, with her priority being the end of the alimony payments, Mike’s new wealth has not seemed to change the dynamics of their relationship. It’s clear that the two are moving forward in separate directions, and neither party seems to be interested in revisiting the past.
As Mike embarks on his new life as a multimillionaire, Eileen appears determined to put the past behind her and continue her own journey without the influence of his sudden fortune.
Whether their story will evolve further remains to be seen, but for now, their post-divorce life is marked by the intriguing contrast between Eileen’s financial independence and Mike’s unexpected jackpot.
News
Road Safety confirmed 13 People Dead In Edo Road Accidents
The Federal Road Safety Corps (FRSC) has reported that at least 13 people lost their lives in road accidents across Edo State in November 2024. The Sector Commander of the FRSC, Cyril Mathew, confirmed this tragic news during an address to journalists in Benin City on Sunday.
According to Mathew, the fatalities resulted from multiple accidents that occurred throughout the state during that month. In addition to the 13 deaths, he noted that 76 passengers sustained injuries, and 1,524 drivers were apprehended for various traffic violations.
He explained that the primary causes of the accidents were factors such as brake failure, speeding, reckless driving, and the use of mobile phones while driving. Other contributing factors included route violations and failure to adhere to basic traffic regulations. Mathew also outlined that the 1,524 traffic offenders were arrested for a range of violations, including driving without a fire extinguisher, not installing a speed-limiting device, tyre violations, seat belt violations, overloading, driving against traffic, and using phones while driving.
All offenders were arraigned in a mobile court, where they were fined according to the severity of their violations.
The FRSC official issued a stern warning to motorists, urging them to avoid dangerous practices such as overspeeding, driving under the influence of alcohol, driving at night, and using phones while driving. He emphasized that these behaviors contribute significantly to road accidents and endanger the lives of everyone on the road.
In a separate incident, barely two weeks ago, a deadly automobile accident occurred near Tage Bridge in the Kafin Hausa Local Government Area of Jigawa State. On the Monday of that week, a passenger vehicle was involved in a crash that resulted in the deaths of at least 14 people. Eyewitnesses described the scene as horrifying, with numerous bodies scattered across the area.
The Jigawa State Police Command confirmed the incident through its Public Relations Officer, DSP Shi’isu Adam, who stated that the driver of the vehicle survived the crash and is currently cooperating with the police to determine the cause of the accident. The incident occurred when a Golf 3 Wagon, with the license plate GML 842 XA, was traveling from Hadejia town to Makera village. The vehicle reportedly overturned and plunged into a river.
Adam further revealed that the identities of the victims have not yet been disclosed, pending notification of their families. The police are continuing their investigation into the circumstances surrounding the crash.
News
Nigerian Man Who Rained Curses On President Tinubu Nabbed
A Nigerian man has been nabbed after he went on social media to rain curses on President Bola Tinubu and Lagos State Governor Babajide Sanwo-Olu.
The arrest of the unnamed man who cursed President Bola Tinubu and rained insults on Governor Babajide Sanwo-Olu followed a recent warning by the Nigerian Police Force, which cautioned against making offensive statements or insults directed at public officials.
The police had followed up with the assertion that such acts were punishable under the law.
In the controversial video, the man unleashed curses at President Tinubu, holding him responsible for Nigeria’s challenges and criticizing his leadership. He also directed scathing remarks at Governor Sanwo-Olu, accusing him and other politicians of contributing to the nation’s plight.
Some of his statements included:
“The Inspector General of Police said anyone who insults others should be arrested. It won’t be well with Bola Tinubu. He won’t have peace of mind wherever he is.”
“Sanwo-Olu, the Lagos State Governor with the black eye, it won’t be well with you either. You’ll know no peace wherever you are.”
“You politicians, spoiling this country without accountability, none of you will know peace. You’ve brought Nigeria to this state, and you shall face the consequences.”
Despite knowing the authorities were after him, the man expressed defiance in the video, claiming he had been declared wanted and daring the police to take action.
“They said they’re looking for me and have declared me wanted on their platform. Senseless set of people,” he said.
“People like Yahaya Bello, who are destroying the country, are free, yet you declare me wanted. Those stealing money are untouched, but you’re after me.”
However, a follow-up clip confirmed that the man had been arrested for his remarks. The police have not disclosed further details about his detention, but his case has reignited debates on freedom of speech and the boundaries of criticism in Nigeria.
Watch the video below of the man as he cursed President Tinubu
Man was arrested a few hours after insụlting Tinubu and Lagos State governor, Babajide Sanwo Olu😳🙆 pic.twitter.com/VU47vv52b5
— CHUKS 🍥 (@ChuksEricE) December 21, 2024
The video, which continues to circulate online, has drawn mixed reactions, with some Nigerians condemning the man’s approach in cursing President Tinubu while others see his arrest as an attack on free expression.
See some reactions below:
@DeeNwuga: “To track dey so easy till e reach time track kidnappers and bandits then everywhere go silent.”
@ourt_destiny: “Abacha regime was not this bad, Tinubu has taken it to a whole new level.”
@GeneralSnow_: “I love his unbothered look. They will only make him a hardened activist.”
@HIBILLIONEAR: “This is just a reminder that e no go better for Tinubu, Sanwa Olu, IG of police and ecery other Nigerian politician. Una go arrest until prison and cells full, no space.”
@theboyisgreat: “They are afraid of what is coming but it will eventually catch up on them.”
@Chrizkhalifa21: “Na when e reach netizens turn una dey fit track them but track kidnappers and boko Haram una no fit.”
@Victoh: “The tyranny is playing out to our faces but we are still bantering Igbo or Yoruba. Make we dey play 😂Police PRO don first give us update of what is to come.”
@RAZZIEDML: “Na why I no dey do pass myself. Make them no go pick me wey never pick before.”
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