Business
IG Urges Citizens to Abandon Proposed Nationwide Protest
The Inspector General of Police, Kayode Egbetokun, has urged citizens to reconsider plans for a nationwide protest scheduled for August 1, citing concerns over potential violence and disruption. The call comes amid social media campaigns mobilizing for protests in response to economic challenges facing the country.
During a meeting with police commissioners in Abuja, Egbetokun highlighted the destructive consequences of past protests, including the #EndSARS demonstrations, which he claimed exacerbated crime rates and insecurity in several regions.
“Some groups of people, self-appointed crusaders and influencers, have been strategizing and mobilizing potential protesters to unleash terror in the land under the guise of replicating the recent Kenya protests,” Egbetokun stated.
While acknowledging the constitutional right to peaceful protest, Egbetokun emphasized the importance of preventing demonstrations from escalating into violence. “As a nation, we have had more than our fair share of violent protests, with rather dastardly consequences,” he said. “The last #EndSARS protest led to one-tenth destruction of public assets, including police stations, courts, and transport infrastructure, and the loss of several lives.”
Egbetokun noted the lasting impact of previous protests, including significant economic losses and widespread psychological and emotional trauma. He cautioned that the proposed protests are “ill-advised” and could potentially lead to further unrest.
He assured that the police force is prepared to protect lives and property, ensuring that protests remain peaceful. “We have mapped out plans to ensure that no individual or group succeeds in fostering a reign of terror and anarchy on other law-abiding and deserving Nigerians,” he said.
The IG warned potential troublemakers that measures are in place to prevent and address any violence. “We will therefore not sit back and fold our arms to watch violent activities unleash violence on our peaceful communities or destroy any of our national critical infrastructure and assets again,” Egbetokun concluded.
Business
Iceland Demands Supermarket Rivals Stop Selling Prawn Rings
Supermarket chain Iceland has filed a trademark application for its well-known “King Prawn Rings,” urging rival supermarkets to stop selling similar products. Iceland, headquartered in Flintshire, claims it has faced increasing imitation since introducing its prawn rings in 1991.
In a bold open letter shared on social media platform X (formerly Twitter), Iceland called out major competitors Aldi, Tesco, Lidl, and Asda, accusing them of selling “copy crustaceans.” The letter cheekily asserted, “The King Prawn Ring is ours, and we won’t be letting you off the hook.”
Lidl humorously responded, “Here was us thinking it was a classic 1970s party dish.”
Iceland’s letter, signed by “Iceland Foods,” warned other retailers to cease selling prawn rings, especially ahead of Christmas. The chain emphasized its intent to pursue legal action if competitors don’t comply, declaring, “Our lawyers are more than ready to dive into legal waters.”
The prawn ring battle has sparked social media buzz, with consumers eagerly watching how rival supermarkets will respond to Iceland’s trademark claim.
Business
Boeing Workers Reject Latest Pay Offer Despite 30% Rise, Union Says
The union representing striking Boeing workers has stated that its members are not interested in the company’s latest pay proposal, which includes a 30% raise over four years. According to the International Association of Machinists and Aerospace Workers (IAM), a survey revealed overwhelming dissatisfaction with the offer, labeling it as “inadequate.”
This rejection follows Boeing’s new “best and final” offer, which also included a performance bonus reinstatement, improved retirement benefits, and a one-time $6,000 signing bonus. The company set a deadline for the deal to be ratified by union members by midnight on September 27.
However, IAM criticized Boeing for sending the offer directly to workers and the media without consulting union leaders and stated that the time frame was insufficient to organize a proper vote. Boeing has denied the union’s claims and said it would allow more time and provide support to facilitate the vote.
Business
China Unveils Bold Measures to Revive Economy Amid Growth Concerns
China’s central bank, the People’s Bank of China (PBOC), has launched a significant package of measures aimed at revitalizing its struggling economy. PBOC Governor Pan Gongsheng announced plans to lower borrowing costs and allow banks to expand lending to stimulate economic activity.
With recent economic data raising concerns that China may miss its 5% growth target this year, the central bank will cut the reserve requirement ratio (RRR)—the amount of cash banks must hold in reserve—by half a percentage point, releasing around 1 trillion yuan ($142 billion) into the economy. Additional cuts may follow later in the year.
The package also addresses China’s property market crisis by cutting interest rates for existing mortgages and reducing minimum down payments for all homes to 15%.
Asian stock markets responded positively to the news, seeing a boost after Mr. Pan’s announcement, which came during a rare joint press conference with officials from two other financial regulators.
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