DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 3530

Elon Musk SpaceX Value Nears $180 Billion Networth

By
Ojukwu Emmanuel
-
0
SpaceX

Elon Musk’s reusable rocket maker and satellite internet company, SpaceX, has reportedly inched closer to $180 billion net worth, making it the second most-valuable startup in the world.

A Bloomberg News reports that the company intends to sell insider shares at $97 apiece in a tender offer, that could range from $500 million to $750 million.

Recall that in July 2022, the company raised more than $2 billion, including a $250 million round, that saw it valued at $127 billion during an equity round in May.

In January this year, the rocket maker and satellite internet company raised $750 million in a new round of funding that valued it at $137 billion.

Fast forward to August of the same year, Space X had reached an agreement with both new and existing investors to offer up to $750 million in stock from insiders for $81 per share in July, valuing it at approximately $140 billion.

According to sevral reports, SpaceX is said to be generating nearly $2 billion a month in revenue, with almost half a billion coming solely from its internet service, Starlink.

The company has developed a dominant position in the space transportation market, executing over 64% of commercial rocket launches to send satellites, scientific instruments, and other payloads to orbit globally in the first six months of this year. 

Headquartered in Hawthorne, California, SpaceX holds a commanding position in the commercial space launch services market, primarily through its Falcon rockets, with more than 4,000 satellites in its operational constellation.

The company was founded in 2002 by astute entreprenuer Elon Musk, to reduce space transportation costs and colonizing Mars. It conducts missions for private-sector clients, governmental agencies such as NASA, and other entities, solidifying its market dominance.

Also, SpaceX operates Starlink, an internet service powered by an expanding fleet of satellites in low-Earth orbit, serving as a lucrative arm of its operations.

In a further strategic move, discussions revolve around a potential initial public offering (IPO) for Starlink satellite internet service, as early as late 2024. This strategic move aims to capitalize on the robust demand for space-based communication services, indicating SpaceX’s proactive steps in leveraging market opportunities.

This impressive performance has led to rumors that SpaceX may spin-off and IPO Starlink as soon as late 2024. But the company’s CEO, Musk described those reports as “false,” and  said that he doesn’t expect a Starlink public offering until 2027.

Meanwhile, several analysts have predicted that when Space X is finally listed in the IPO, it will be an extremely strong catalyst for everything space-related.

SpaceX has boosted its insider share price to $97 each, for a planned tender offer of $500 to $750 million, Bloomberg reports, citing anonymous sources — bringing the space exploration startup’s value close to $180 billion. Strong investor demand drove an increase from the $95 a shareprice reported just last week. SpaceX is the world’s second-most valuable closely held startup and has what some analysts call a de facto monopoly on the commercial space launch market. Also attractive to investors: Its Starlink satellite initiative, and its multibillion-dollar NASA contract to develop a lunar lander. SpaceX is expected to bring in about $9 billion in revenue this year from the Starlink and rocket launch businesses, and boost sales to about $15 billion next year. (LinkedIn News)

Meanwhile, Musk may be planning to start a university: “Tesla and SpaceX CEO Elon Musk is graduating from electric vehicles and spacecraft and leaning into education. Based on tax filings for his charitable organization, The Foundation, Musk plans to start with a STEM-focused primary and secondary school in Austin before establishing a “university dedicated to education at the highest levels,” reports Bloomberg. The latter will incorporate a standard curriculum with “hands-on … simulations, case studies, fabrication/design projects and labs.” This isn’t the first time Musk has dabbled in education: He set up a school called Ad Astra for kids of SpaceX employees, including his own. The application to the Internal Revenue Service was filed in October 2022 and approved in March, Bloomberg notes.”

More Scholarships Available in Tekedia Institute

By
Ndubuisi Ekekwe
-
0

Good People, join me to thank Nnaemeka Anyanwu, MBA, PMP, ACP, who just made a donation to Tekedia Institute General Scholarship Fund. Through his generosity, more young people and innovators will experience our top-rate business education. Thank you Nnaemeka for funding the future, again!

Our non-profit partner, Ideas Worth Billions, will begin the selection process for Nnaemeka Scholars in January, after the Christmas holidays.

Tekedia Institute Insitute offers hundreds of scholarships yearly through the generosity of citizens, companies and governments. We thank them for funding the FUTURE.

Dogecoin (DOGE) and XRP Supporters Explore New Investment Opportunities in Revolutionary Token – Analyzing the Trend

By
TI Partners
-
0

In recent developments, Dogecoin (DOGE) and XRP (XRP) supporters are now turning their attention to a new investment opportunity presented by VC Spectra (SPCT). With its unique features, this revolutionary token has captured the interest of investors seeking substantial returns.

Let’s explore why these top crypto coins are must-haves for 2024.

>>BUY SPCT TOKENS NOW<<

DOGE Price Prediction: Dogecoin Soars Amid Tesla Rumors

On December 3, 2023, reports surfaced suggesting that Tesla had discreetly made modifications to its website, introducing the option for customers to make payments using Dogecoin (DOGE) for the latest Tesla Cybertruck model. Upon inspecting the website’s code, several new codes related to DOGE integration were discovered.

However, it is important to note that this change has not been officially confirmed, and currently, the option to pay with DOGE is not yet functional. Not surprisingly, the news generated excitement among investors who were looking to buy Dogecoin.

As a result, a positive DOGE price prediction emerged. Between December 3 and 10, the price of Dogecoin (DOGE) increased by 18.39%, rising from $0.087 to $0.103.

Given the speculation surrounding Tesla potentially adding Dogecoin as a payment option, DOGE will continue to rise in the coming months. Based on the current DOGE price prediction the price of Dogecoin could surge to $0.436 next year.

XRP Price Prediction: Ripple’s Workplace Recognition Boosts XRP Value

On December 1, 2023, Ripple was recognized by the Great Place to Work Institute as one of the best workplaces for parents that year. This highlighted Ripple’s commitment to fostering an inclusive and supportive work environment.

The market reacted positively to the news, resulting in XRP increasing in value by 3.33%. Within 24 hours, the XRP crypto price rose from $0.60 to $0.62.

XRP’s upward trend continued over the following days. Between December 1 and 10, the XRP crypto price increased 9.68% to $0.68.

Furthermore, industry experts anticipate a continued growth in the value of XRP, if market conditions keep improving. They predict the XRP crypto price could surge to $1.80 by 2024.

VC Spectra (SPCT): The Game-Changing Token In Crypto

Dogecoin (DOGE) and XRP supporters have been keeping a close eye on the cryptocurrency market, searching for new investment opportunities. One particular token that has caught their attention is VC Spectra, which is being hailed as a revolutionary token with unique features.

VC Spectra (SPCT) sets itself apart from other top altcoins by offering quarterly dividends and buybacks using the profits generated from investments. This attractive proposition has garnered the attention of supporters who are seeking substantial returns on their investments.

Built on the Bitcoin blockchain, the SPCT token associated with VC Spectra is deflationary. This means that the token’s supply decreases over time, creating a scarcity that could potentially drive up its value. Additionally, VC Spectra (SPCT) offers practical utility in decentralized trading and asset management, providing users with tangible benefits beyond speculative investment.

Its presale stages have shown remarkable growth, with the VC Spectra’s SPCT token price surging by 862.5% to date with a price of $0.077, a testament to its potential as one of the best cryptos to invest in now. As the presale continues, analysts forecast that SPCT could reach $0.080, marking a staggering 900% surge from its initial value.

Learn more about VC Spectra (SPCT) and its presale:

Buy Presale: https://invest.vcspectra.io/login

Website: https://vcspectra.io

Telegram: https://t.me/VCSpectra

Twitter: https://twitter.com/spectravcfund

As Abia Looks for a New Aba with the Establishment of “Greater Aba Development Authority (GADA)”

By
Ndubuisi Ekekwe
-
2

When you read the history of Nigeria’s independence, you will likely read about men and men. Yes, they attended conferences here and there. But one thing no one would tell you is this: Nigerian women were the first people who got “independence” for Nigeria when Aba women challenged the colonists over direct taxation. Men had largely agreed to pay, but the women said NOT here. 

The women won a mindset battle, and that was a clear validation that the British could be “challenged”. Quickly, the men picked up that signal, and via the early newspapers started writing with boldness, triggering events which culminated with Nigeria’s political independence from the colonists.

Then, Aba was a seat of commerce. Men left with nothing and returned back to villages with wealth. In Abia’s state coat of arms, that “prosperity through enterprise” is talking of the spirit of Aba. Because Aba meant opportunities through entrepreneurial capitalism.

Suddenly Aba began to fade and had lost many decades. I am here to announce that Aba will be back:“Abia State Governor Alex Otti has signed into law the Greater Aba Development Authority (GADA) bill recently passed by the State House of Assembly.” The goal of GADA is to have a laser-focused attention on Aba  as a commercial  and industrial hub. 

Abians, let’s transform the “God’s Own State”. 

GOV OTTI SIGNS FIRST BILL, GREATER ABA DEVELOPMENT AUTHORITY, INTO LAW

Abia State Governor, Dr Alex Otti, OFR, has signed the Greater Aba Development Authority (GADA) Bill, recently passed by the State House of Assembly, into law.

Governor Otti, speaking Monday after assenting to the bill, his first since assuming office May 29, 2023, said the establishment of the Greater Aba Development Authority was to give Aba, the commercial hub of Abia, indeed South East Nigeria, a special focus in terms of development.

“Everyone who had followed the process of the campaigns and elections would have remembered that we had said that we needed a special focus on Aba which is a commercial nerve centre of the State,” Governor Otti said in a tone filled with reassurance.

According to the Governor, Aba, beyond being a trading zone, is also an industrial base, where all kinds of light and heavy manufacturing; micro small and medium scale businesses are conducted.

“Virtually every street in Aba is a market, eventhough we are working at organising them, but it is a strength that we recognise,” he said, adding, “when we invest heavily in infrastructural renewal in Aba, it is because we recognise the potentials that Aba has and we believe that if we improve on ease of doing business, we attract a lot of businesses.”

He congratulated the Speaker of the State House of Assembly, Rt Hon Emmanuel Emeruwa; Deputy Speaker, Hon Austin Okezie Meregini; the leadership of the House and other members; and Members of the State Executive Council on the passage of the executive bill.

He stated that with the law now in place, Aba rejuvenation has got a legal backing to bring about the needed development in the commercial capital.

Earlier, while presenting the Bill to the Governor for assent, the Attorney General and Commissioner for Justice, Barr. Ikechukwu Uwanna, noted that the executive bill was passed into law by the State House of Assembly on 8th December, 2023.

Uwanna said that the Greater Aba Development Authority is now the first bill Governor Otti was signing into law and congratulated the Governor on achieving that feat.

Giving insight on the newly signed law, the Director General of the Greater Aba Development Authority, Mr. Uche Ukeje, described the law as a special vehicle that would drive the development of Aba to realise the Governor’s vision about the Enyimba City.

Ukeje, an architect of many years repute, described GADA as an integrator, that would coordinate all the efforts of the Ministries, Departments and Agencies of government in a bid to bring the needed development in Aba.

The Secretary to the State Government (SSG), Prof. Kenneth Kalu; Commissioner for Digital Economy and SME, Dr. Matthew Ekwuribe; Commissioner for Power and Public Utilities, Engr Ikechukwu Monday; and Senior Special Assistant on Legislative Matters, Hon. Luke Ukara Onyeani, among other senior aides of the Governor witnessed the bill signing ceremony.

KAZIE UKO
Chief Press Secretary to the Governor
Abia State
December 11, 2023

USA inflation falls to 3.1% in December 2023

By
Paul Ugbede Godwin
-
0

The latest data from the Bureau of Labor Statistics shows that the annual inflation rate in the United States dropped to 3.1% in December 2023, down from 4.2% in November. This is the lowest level since June 2021, when inflation was 2.9%. The decline in inflation was mainly driven by lower prices for energy, transportation, and food, which offset the increases in housing, medical care, and education. The core inflation rate, which excludes volatile food and energy prices, also fell to 2.7% in December, from 3.0% in November.

The decrease in inflation is a welcome sign for the US economy, which has been struggling with the effects of the COVID-19 pandemic, supply chain disruptions, labor shortages, and rising consumer demand. The Federal Reserve has been trying to balance its dual mandate of maintaining price stability and full employment, while also supporting the economic recovery.

The Fed has signaled that it will start tapering its monthly bond purchases in early 2024 and may raise its benchmark interest rate later that year, depending on the inflation outlook and the labor market conditions.

The lower inflation rate may also ease some of the pressure on consumers, who have been facing higher costs for many goods and services. However, some analysts warn that inflation may not be over yet, as there are still some factors that could push prices higher in the coming months.

These include the ongoing supply chain issues, the new Omicron variant of the coronavirus, the expiration of some pandemic relief programs, and the potential fiscal stimulus from the Biden administration and Congress. Therefore, consumers and businesses should remain vigilant and prepared for possible changes in the inflation environment.

What caused this sharp decline in inflation? There are several possible explanations, but two main factors stand out: the Federal Reserve’s interest rate hikes and the falling energy prices.

The Federal Reserve, which is the central bank of the US, has the dual mandate of maintaining price stability and maximum employment. To achieve these goals, it uses various tools, such as setting the federal funds rate, which is the interest rate that banks charge each other for overnight loans. The federal funds rate affects other interest rates in the economy, such as mortgages, credit cards, and loans, as well as the money supply and inflation expectations.

In response to the rising inflation and strong economic recovery from the pandemic-induced recession, the Federal Reserve started to tighten its monetary policy in late 2022. It announced four interest rate hikes in 2022, raising the federal funds rate from 0.25% to 1.25%. It also signaled that it would continue to raise rates in 2023, with three more hikes expected by June. The Federal Reserve’s actions have had the desired effect of cooling down the inflationary pressures and reducing the demand for goods and services.

Another major factor that contributed to the lower inflation in December was the decline in energy prices. Energy is one of the main components of the CPI basket, accounting for about 7% of its weight. Energy prices are volatile and depend on various factors, such as supply and demand, geopolitics, weather, and technology. In December 2023, energy prices fell by 6.8%, driven by a drop in gasoline prices of 11.9%. This was partly due to the release of strategic oil reserves by several countries, including the US, in November 2023, which increased the global oil supply and lowered its price.

The lower energy prices also had a spillover effect on other categories of the CPI basket, such as transportation and food. Transportation costs fell by 1.9% in December, mainly due to lower airfares and car rental fees. Food costs rose by only 0.2%, compared to 0.9% in November, as lower energy costs reduced the costs of production and transportation of food items.

The fall in inflation in December was welcome news for consumers and businesses, who have been struggling with higher costs and lower incomes for months. However, it is too early to celebrate or relax. Inflation is still above the Federal Reserve’s target of 2%, and there are still many uncertainties and risks that could push it higher again. For example, the new Omicron variant of Covid-19 could disrupt global supply chains and demand patterns; labor shortages and wage pressures could increase production costs; geopolitical tensions could affect oil markets; and inflation expectations could become unanchored.

Therefore, it is important to monitor inflation closely and be prepared for possible changes in its direction and magnitude. Inflation can have significant impacts on economic growth, income distribution, financial stability, and social welfare. Understanding its causes and effects can help consumers and businesses make better decisions and plan ahead.

1...3,5293,5303,531...8,207Page 3,530 of 8,207

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy