Author: Chronicle Editor

JPMorgan Chase & Co (JPM.N) on Monday sued Tesla Inc (TSLA.O) for $162.2 million, accusing Elon Musk’s electric car company of “flagrantly” breaching a contract related to stock warrants after its share price soared. According to the complaint filed in Manhattan federal court, Tesla in 2014 sold warrants to JPMorgan that would pay off if their “strike price” were below Tesla’s share price upon the warrants’ expiration in June and July 2021. JPMorgan, which said it had authority to adjust the strike price, said it substantially reduced the strike price after Musk’s Aug. 7, 2018 tweet that he might take…

A group of unidentified gunmen have burnt down a Magistrate Court in Ubulu, Oru-West Local Government Area of Imo State in the early hours of Monday. It was gathered that the arsonists attacked the premises using petrol bombs. The resulting fire engulfed the entire court building destroying court materials in the process. The incident was confirmed by the Interim Management Committee chairman of Oru-west LGA of Imo State, Hon. Willie Okolieogwo. Okolieogwo while expressing his displeasure over the incident, stated that no casualties were recorded in the attack. He is also the Association of Local Government of Nigeria, ALGON, chairman…

The Niger State Government has said that Boko Haram terrorists have gained full control of at least five communities in the state. This was disclosed to newsmen by the Secretary to the State Government, Alhaji Ahmed Matane, who stated that the Islamic extremists were in control of communities in Rafi and Shiroto Local Government Areas of the State. Matane listed the communites under control by the insurgents as; Kurebe, Farina Kuka, Gussau in Shiroro LGA and Madaka, Hanawanka in Rafi LGAs of the state. He added that the presence of the terrorists have forced many residents of these communities to…

Kaduna-based Islamic cleric Sheikh Ahmad Gumi, has urged the Federal Government to build schools for bandits ravaging the northern region of Nigeria. According to Gumi, the billions of Naira being spent on ammunition should be used to build schools for bandits. He argued that majority of the bandits he had spoken to are ready to lay down their arms and embrace education. The controversial cleric said this at the Uthman Dan Fodio Centre at Kagarko Grazing Reserve Kohoto Village, Kagarko Local Government Area of Kaduna State, on Monday. Nigeria will cease to exist if bandits are declared terrorists – Sheikh Gumi Gumi argued…

Akingbolahan Adeniran, who was Ogun state attorney-general until Monday, said he resigned due to personal reasons and not because of massive corruption in Governor Dapo Abiodun’s government. His resignation took government officials by surprise as it was initially denied by his colleague, Waheed Odusile, who heads the information ministry. He issued on Monday a statement to debunk the rumours circulating about his action. He said he resigned for personal reasons. Adeniran’s letter was dated 8 November. “I must state that my reasons for resigning are purely personal. I am not aware of any “massive corruption” in the Administration and I…

Salaudeen Waliu, a University of Ilorin (UNILORIN) final year student of the Department of Microbiology, who beat a female lecturer to coma, Mrs Zakariyau, has explained the reasons for his action. He claimed that he had gone to the office of the lecturer to beg her to help wave the required SIWES course which he missed due to an unexpected event. He claimed to have met Mrs Zakariyau numerous times, but all led to negative responses before the last Thursday assault on the lecturer. Waliu, while speaking to University Campus Journalists, UCJ-Ilorin, claimed that ” months before the last Thursday…

A walk down the main street in Hamtramck, Michigan, feels like a tour around the world. A Polish sausage store and an Eastern European bakery sit alongside a Yemeni department store and a Bengali clothing shop. Church bells ring out along with the Islamic call to prayer. “The world in two square miles” – Hamtramck lives up to its slogan, with around 30 languages spoken within its 5 sq km area. This month, the Midwestern city of 28,000 has reached a milestone. Hamtramck has elected an all-Muslim City Council and a Muslim mayor, becoming the first in the US to…

Five hundred golfers will vie for honours in this year’s edition of the Ikeja Golf Club Championship, which teed off on Monday. The Club’s captain, Mr. Akeem Akintoye, disclosed this yesterday at a media parley held to herald the 26th edition of the championship. According to him, the annual championship provides golfers and members of the club the opportunity to have a rollicking time, just as it is also a period to compete for laurels. “We pride ourselves as the foremost golf club in Lagos as we major solely on golf. The Ikeja Golf Club Championship is annual in our…

Paintings and sculptures by famous artists including Andy Warhol and Jackson Pollock have sold at auction in New York. The collection raised more than $676 million (£503m) at auction on Monday. The 35 pieces belonged to real estate mogul Harry Macklowe and his former wife Linda. The pair were told to sell the collection and split the proceeds during their 2018 divorce trial. A further 35 pieces of art are set to go up for auction next year. The items up for sale included “No 7”, a painting by Mark Rothko which sold for $82.5m – the second highest price…

Northern Ireland produced their best performance of the qualifying campaign to earn a 0-0 draw that denied Italy automatic World Cup qualification. Substitute Conor Washington almost won it for the hosts in the last minute but his effort was cleared off the line. Switzerland’s win over Bulgaria means they top Group C and European champions Italy must face a play-off for a place in Qatar. The draw secured a third-place finish in the table for Ian Baraclough’s men. Switzerland, who went into Monday night’s final qualifying matches in second place, came through to win the group by hammering Bulgaria 4-0.…