Global stocks kick-start new month in red zone

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Global stocks kick-start the new month in red zone Major global stock markets within our coverage this week closed in the red zone, as several investors dumped equity assets amid expectation of mixed Q3 earnings performance.

Global stocks kick-start new month in red zone - Brand Spur

This bearish perception was further reinforced by the US labour statistics for the month of August 2020 released this week, as the actual number of people added to non-farm payroll came in marginally low (1.37 million) compared to the minimum expectation (1.4 million).

As a result of the above, the three leading indices in the U.S., the DJIA, the S&P 500, and the NYSE Composite indices fell by 1.29%, 1.89%, and 2.12% w/w respectively, while in other Advance Economies, the German DAX, the UK FTSE 100, and France CAC 40 all shed 1.46%, 2.78%, and 0.76% w/w respectively, save for Japanese Nikkei 225 which gained 1.41% w/w as the current prime minister, Shinzo Abe, announced his decision to step down for health reasons.

Across Emerging Markets within our coverage, sell pressure reigned in China, India, Brazil, and South Africa (to mention but few), with week-on-week losses of 1.42%, 2.81%, 1.48%, and 3.89% respectively.

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CredoLab raises USD 7m to expand its market reach in Africa and other new markets

CredoLab, a leading developer of bank-grade digital credit scorecards based on smartphone metadata which launched in Nigeria, Kenya, and South Africa, last year, has secured USD 7 million in its Series-A round funding led by GBG, the global specialist in identity data intelligence.

Cars with embedded connectivity to reach 200m by 2025, with 5G adoption set to soar

A new study from Juniper Research has found that the number of cars with embedded connectivity will reach 200 million globally by 2025; rising from 110 million in 2020. One of the main beneficiaries of this growth will be mobile

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Nitro121 promises bespoke offerings to clients, celebrates 15th anniversary

The leading brand-building and marketing communication company, Nitro 121 (formerly known as 141 Worldwide), turns fifteen on the 1st of September 2020 and promises to continue to deliver bespoke marketing communications services to clients and other partners.

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Top 25 most valuable aerospace and defence brands could lose over $22bn of brand value from COVID-19

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Ikeja Electric’s bilateral power attains first-year milestone as customers score service high

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Nigeria Rugby Union signs kit sponsorship deal with BLK Sports

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Apple buys another company

Apple reportedly bought VR startup Spaces, the tech giant’s eighth disclosed acquisition of the year. We discuss Apple’s moves in the VR space — including a patent for reducing motion sickness while working virtually in a vehicle.

IITA invests in development and implementation of seed yam certification system in Nigeria

IITA renovated and equipped the diagnostic laboratory of the National Agricultural Seed Council (NASC) at their headquarter in Sheda, Abuja, with equipment worth $100,000 for seed quality control and Seed Tracker e-certification system. A PCR for DNA amplification and other laboratory equipment will allow technicians of the seed regulatory agency to conduct diagnostics and seed quality testing in line with the amended existing standards for seed yam.

Efe Omoregbe, Bada Akintunde-Johnson, Ayeni Adekunle, others confirmed to speak at MTN’s business of the art series

In line with its continuous commitment to youth development in Nigeria, MTN Foundation, the CSR arm of Nigeria’s leading ICT company, MTN Nigeria, has engaged leading minds in the Nigerian entertainment and media industry for this year’s edition of MTN’s Business of the Art Series.

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