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N160m Rolls-Royce Phantom VIII Unveiled

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Rolls Royce
  • N160m Rolls-Royce Phantom VIII Unveiled

Rolls-Royce introduced its eight-generation Phantom at a red carpet launch event in London last Thursday. The British luxury automaker gave its flagship model an update after 14 years. The previous, seventh-generation Phantom was launched in 2003, which was the first model introduced after BMW took the ownership of the iconic brand. The Phantom VIII has been in development for six years and is an all-new model with an all-aluminium spaceframe chassis for the first time, which is set to underpin all of the company’s future models. Roll-Royce claims that this new architecture is lighter and 30 per cent stiffer than before to make the ride more comfortable.

The next generation of the Rolls-Royce Phantom marks a shift within the ultra-luxury automaker.

All the special luxury touches are there. It’s a notable change that will mean the same underlying architecture will be used on Rolls-Royce vehicles of varying size and weight as well as with different propulsion, traction, and control systems.

The new model arrives with quite a few neat tricks.

There have been changes to the exterior as well, notably the front grille, which is raised higher than previous generations of the Phantom. The grille has also been integrated into the bodywork, which Rolls-Royce says produces a cleaner look.

There are numerous small changes throughout the vehicle and all the luxury touches one might expect to find in a Rolls-Royce. The seats are new and wood panelling across the back of the front seats are a nod to the Eames Lounge Chair of 1956.

Behind that wood panelling, the back seat occupants will discover theatre monitors. A centre console in the back has been upgraded and includes a drinks cabinet with whisky glasses and decanter, champagne flutes, and coolbox.

The luxury penthouse suite on wheels is powered by a 6.75-liter twin-turbo V12 that churns out 563 horsepower and 664 lb-ft of torque. The power is put down to the tarmac through the rear wheels with the help of a ZF eight-speed transmission. The gearbox is linked to the car’s GPS to optimise shift points based on where the driver is going. Rolls-Royce also notes that the Phantom VIII is the quietest car in the world, which has been achieved with the help of 286 pounds of sound deadening material lining the cabin. It’s not only the quietest, but the rides like a flying carpet thanks to the new self-levelling air suspension that uses a camera to “proactively” make ride adjustments up to 62 mph.

Inside the car, the cabin is as amazing as one can imagine. Rolls-Royce says the interior is designed to “embrace” its occupants with the nicest leather, wood, and metal available. The car’s dashboard, which Rolls-Royce is now calling the “gallery,” is literally a price of artwork which customers and commission according to their taste.

Rolls-Royce chairman and BMW board member Peter Schwarzenbauer said: “we’re quite happy to have this wonderful brand and develop it in future. This is not just launching a car, but setting a new standard for luxury overall.”

The pricing is around $450,000 (N162,000,000.)

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood

Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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