Billionaire investor Patrick Soon-Shiong set to acquire LA Times, other newspapers in $500million deal

​ Tronc Inc. said on Wednesday it agreed to sell the Los Angeles Times, the San Diego Union-Tribune and some other newspapers to billionaire investor Patrick Soon-Shiong for $500 million cash. The company said the move will lower debt, slash its pension liabilities and help it expand digital operations. Soon-Shiong, through his private investment vehicle… Read More Billionaire investor Patrick Soon-Shiong set to acquire LA Times, other newspapers in $500million deal

U.S. Justice Department takes down global cyber crime ring 

The U.S. Justice Department announced one of its largest-ever takedowns of a global cyber crime ring on Wednesday, saying it had indicted 36 people accused of trafficking in stolen identities and causing more than $530 million in losses to consumers. The cyber crime network, operating as an online discussion forum known as ‘Infraud’, ran a… Read More U.S. Justice Department takes down global cyber crime ring 

White House staff secretary Rob Porter announces resignation following domestic abuse allegations

U.S. White House staff secretary Rob Porter said on Wednesday he would resign following accusations of domestic abuse from two former wives. He did not say when his resignation would be effective. Porter, a senior adviser who is in charge of much of the documentation that goes to President Donald Trump for his signature, announced… Read More White House staff secretary Rob Porter announces resignation following domestic abuse allegations

DPR seal three filling stations in Cross River for hoarding petroleum products  

​The Department of Petroleum Resources (DPR) has shut down three fuel filling stations in Calabar, Cross River State capital. Mr Bassey Nkanga, DPR Operations Controller in charge of Cross River, who led his team on an intensified surveillance on fuel stations across the state, said that the stations were shut down for violating government directives.… Read More DPR seal three filling stations in Cross River for hoarding petroleum products  

Six dead, twelve missing as boats conveying traders collide in Niger State 

At least six traders were reported dead while 12 persons missing after a boat mishap on Wednesday in River Niger in Shanga Local Government Area of the state. It was gathered that the incident happened following a head-on collision of two canoes carrying traders and their goods on Tuesday at about 8:30 p.m. in Barikin… Read More Six dead, twelve missing as boats conveying traders collide in Niger State 

U.S. casino mogul Steve Wynn resigns following sexual harassment allegations

U.S. casino mogul Steve Wynn has resigned as CEO of his company Wynn Resorts following claims he subjected women who worked for him to unwanted advances, becoming one of the most prominent business leaders to quit over sexual misconduct allegations in recent months. The company said it was appointing Matt Maddox, its president since 2013,… Read More U.S. casino mogul Steve Wynn resigns following sexual harassment allegations