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US Consumer Confidence Jumps to 11-Month High

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Consumer Confidence

U.S. consumer confidence rose in August to its highest level in 11 months, suggesting economic growth could pick up in the second half of the year.

The Conference Board said Tuesday that its consumer confidence index rose to 101.1, up from 96.7 in July. It was the highest level for confidence since the index hit 102.6 last September.

The gain reflected consumers’ brighter views about current the economic situation and their expectations for the future.

The percentage of those surveyed who saw business conditions as “good” increased from 27.3 percent to 30 percent. Those who viewed business conditions as “bad” remained virtually unchanged at 18.4 percent.

Consumers who regarded jobs as “plentiful” increased from 23 percent to 26 percent, although those who felt jobs were “hard to get” also rose slightly from 22.1 percent to 23.4 percent.

Economists said that the climb in confidence reflected stronger job gains seen in recent months, as well as strength in the stock market and home prices, which boost consumers’ net worth.

They expect the momentum in jobs to boost incomes and spur stronger consumer spending. That should help growth accelerate in the second half of this year, after four quarters of an anemic average growth rate of 1.2 percent. Many analysts believe gross domestic product will top 3 percent in the current quarter.

“Growth will be supported by consumer confidence and job growth,” Jennifer Lee, senior economist at BMO Capital Markets, said in reaction to the consumer confidence report.

The government will release the August jobs report on Friday. Many economists are looking for a gain of around 180,000 jobs.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market.

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Seplat Appoints Emeka Onwuka as CFO, Executive Director

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Seplat Named Emeka Onwuka as CFO and Executive Director

Seplat Petroleum Development Company Plc has appointed Mr. Emeka Onwuka as the Chief Financial Officer (CFO) and Executive Director of Seplat, effective from August 1, 2020.

In the statement signed by Mrs. Edith Onwuchekwa, Company Secretary and Chief Governance Compliance Officer, and released through the Nigerian Stock Exchange, Mr. Onwuka has more than 30 years of experience in financial services within Sub-Saharan Africa.

“He has acted as the voice and face of major financial institutions in Nigeria as former Group Managing Director /CEO of Diamond Bank Plc and former Chairman of Enterprise Bank Limited. Mr Onwuka is a Partner at Andersen Tax Nigeria and holds various Board positions as Chairman; FMDQ Securities Exchange Limited; Director FMDQ Holdings Limited; Director, Ecobank Nigeria Limited; and Director, Bharti Airtel Nigeria,” the Company stated.

“Mr Onwuka received his B.SC. in Political Science from the University of Nigeria, Nsukka and holds an MBA from the University of Benin. He is a Chartered Accountant, a Fellow of the Institute of Chartered Accountants of Nigeria, a Fellow of Chartered Institute of Taxation of Nigeria. He has attended executive programs at the Lagos Business School, Wharton Business School and Harvard Business School.

“Mr. Onwuka holds the Nigerian National Honour, Officer of the Order of the Niger (OON). The Board of Seplat is confident that the wealth of knowledge and experience he brings will be a great addition to the Company.

“This announcement is being made in accordance with Rule 4 of the Nigerian Stock Exchange Amended Listing Rules.”

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TAJBank Joins e-Commerce Giants- Launches Nigeria’s 1st Ethical Online Mall

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TaJBank E-commerce

TaJBank Launches Ethical Online Mall

Abuja Nigeria July 8th, 2020  Nigeria’s most innovative Non-Interest Bank, TAJBank, has announced the highly anticipated launch of TAJMall, the nation’s first ethical online shopping mall.

The highly anticipated launch of the e-commerce site, which held recently, is coming closely on the heels of the commencement of its Agency Banking Network which began in June across thirteen (13) states in the country.

To celebrate this milestone, the brand will be holding a week long TAJMall campaign from 6th – 11th July 2020 to sensitize and also reward its new customers to its platform.

“This is a great milestone as we present a fully customer focused e- commerce platform offering 100 percent authentic brands from highly vetted vendors. Our mission is to rebuild trust in the online shopping niche, hence the emphasis on our platform being an ethical shopping mall. We want to deliver on our promise and make this an enjoyable and safe experience not just for our customers, but also for our numerous trusted vendors as well,” said Founder/COO TAJBank, Hamid Joda.

“Our customers place absolute trust that goods will be delivered exactly as requested, and we do not take that trust lightly, he added.

The brand expressed commitment to continuously deploy technological tools on it’s new e- platform to maintain optimal customer service delivery and ensure shopping on TAJMall remains a productive and hassle free experience.

Customers who log onto the tajmall.ng platform (or download the app), will have the opportunity to enjoy massive price slashes, shopping coupons, free shipping and other incredible offers. The Bank also intends to offer financing to its customers who shop on the mall.

“Well beyond our exciting line up of activities, they are assured the highest level of value each time they make a purchase on TAJMall. Our marketing insights have shown that there is an increasing need to match the kind of variety in product offerings that customers yearn for with the exceptional shopping experience that may at times be lacking. We aim to make that an unmatched experience right from the moment our customers visit our mall to the receipt of their items,” affirmed Co-Founder/CMO, Mr Sherif Idi.

Customers shopping on TAJ Mall are guaranteed 100% authenticity, official warranties from the brands, and a 5 day return policy at no extra cost to the customer.

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Warren Buffet to Give Out Another $2.9bn, Total Donations Now $37bn

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Warren Buffett's Donations

Warren Buffet Gives Away $2.9bn, Total Donations Now $37bn

Oracle of Omaha, Warren Buffet, has announced his yearly charitable donations to the five philanthropies he picked to donate most of his fortune to.

The billionaire plans to give out 15.9 million class B shares of Berkshire Hathaway worth $2.9 billion to the five philanthropies. This will bring his total philanthropic donations to $37 billion since 2006.

Warren Buffett

Buffet, who has promised to give away about 99 percent of his fortune, still hold 248,734 Class A shares of Berkshire valued at around $67.5 billion.

However, before he began given out his shares, Oracle of Omaha held 474,998 Class A shares of Berkshire, which would have worth about $129 billion as of today.

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