N1.7 billion Daily Times scam: Court frees Anosike brothers: Misters Fidelis and Noel, who are Directors of Folio Communications, were alleged to have stolen N1.7 billion worth of property belonging to Daily Times of Nigeria Limited. When the case came up on before Justice Habeeb Abiru, the prosecutor, L.A. Sanusi from the office of the Director of Public Prosecution (DPP) asked the court for an adjournment of two weeks to enable his office conclude their study of the file on the matter. Mr Sanusi told the court that there were some information which the DPP’s office required to enable them effectively prosecute the case. At the last hearing of March 27, 2012, the prosecutor had requested for a month’s adjournment to allow him study the case which had just been transferred to the DPP by the Attorney General of the Federation, Mohammed Adoke Bello. Counsel to the Anosike brothers, Babajide Koku however objected to this new request for an adjournment. He asked the court instead to strike...
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Microsoft buys Nook stake, B&N shares soar Microsoft Corp will invest $300 million in Barnes & Noble Inc's Nook e-reader, gaining a foothold in the fast-growing e-books market as the bookseller gets more firepower to compete against Amazon.com's Kindle and Apple Inc's iPad. The move comes as Microsoft is looking to generate excitement around its tablet-friendly Windows 8 operating system, expected on the market around October. The deal announced on Monday includes Microsoft taking a stake in the bookseller's college bookstore division. It also means that the two companies have settled their patent dispute. Shares of Barnes & Noble soared nearly 70 percent on Monday, while Microsoft shares were nearly flat. The agreement values the Nook and textbook businesses, which will form a new subsidiary, at $1.7 billion. "This is not a financial investment. It's a strategic investment to strengthen Windows 8 as a platform for tablets and e-reading," said ...