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The Nigerian Army authorities have dismissed three soldiers who were arrested by the police for armed r%bbery and kidn@pping.

The suspects: LCPL Abdul Musa, CPL Innocent Okwoli and CPL West Isaac, were last month arrested by policemen during an operation with some civilians.

They were then handed over to the army authorities for own investigation, as per SaharaReporters.

Consequently, the soldiers were charged, tried, found guilty and subsequently dismissed from service in line with the provision of the Armed Forces Act Caps A20, Laws of the Federation of Nigeria, 2004.

According to military sources, “The soldiers were arrested by men of the Nigerian Police Force for the offence of armed r%bbery and kidn@pping. After their arrest, the police handed them over to the army authorities for own investigation.

During the course of investigation, it was observed that the soldiers were perpetual crim+nals who always r%bbed trucks and diverted goods being carried to a wearhouse where they do sell them.

They also kidn@pped these drivers and others, they always carry out these operations alongside some civilians.

Furthermore, they were summarily tried and  dismissed and were also handed over to the police as the offences they committed were pure civil related offences for further investigation and prosecution.”

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Major U.S. equities indexes were mixed to close out a trading week that saw all three market gauges pop to all-time highs amid renewed optimism about interest rate cuts.

The S&P 500 edged 0.1% higher on Friday, ending the week just a few points shy of the record closing high it reached on Wednesday. The Dow added 0.3% to log a new record and notch its first close in history above 40,000 points. The Nasdaq ended Friday with a minimal loss of less than 0.1%.

Valero Energy (VLO) shares jumped 4.8%, marking the S&P 500's top performance on Friday. Although Argus downgraded the oil refiner's stock to "hold" on Thursday, citing a likely slowdown in profit growth for the refining sector in the second half of 2024, the analysts recognized Valero as a top player in the industry, noting the company benefits from scale, portfolio diversification, and a first-mover advantage in renewable diesel fuel.

Shares of copper and gold miner Freeport-McMoRan (FCX) gained 4.2%. Copper prices popped to record highs this week, with expectations for strong demand from data centers. Friday's gains lifted Freeport shares to a 52-week high.

Chubb (CB) shares added 3.6% on Friday, extending gains posted in the previous session after Warren Buffet's Berkshire Hathaway (BRK.A) disclosed it had accumulated a $6.7 billion stake in the property and casualty insurer. Berkshire began buying Chubb shares last year but received permission from the Securities and Exchange Commission (SEC) to keep the position confidential for a limited period.

Paramount Global (PARA) shares tumbled 4.9%, making the stock the weakest performer in the S&P 500 for the second day this week after it suffered an even steeper decline on Tuesday. The decline on Friday came amid reports that Paramount's board of directors is exploring options to replace CEO Bob Bakish with a committee of executives that would oversee the company as it continues to negotiate a potential sale.

Shares of Dollar Tree (DLTR) and Dollar General (DG) fell 3.3% and 3.0%, respectively. Both discount retailers were coming off a strong day of trading on Thursday, buoyed by strong earnings results from rival Walmart (WMT). However, they gave back those gains in Friday's session. Challenges for discount store operators include inflation-weary consumers tightening their spending and losses from shoplifting.

Shares of semiconductor equipment firm Lam Research (LRCX) sank 3.3%, reversing gains posted earlier in the week after Jefferies analysts initiated coverage of the stock on Monday with a "buy" rating. Although Lam Research maintains a top position in the tech market that should underpin demand from the world's largest chipmakers, it faces significant charges related to restructuring initiatives and business process improvements.

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A boy has refused to go to school after his grandma bought him a designer shoe.

The boy is refusing to go to school because of the school shoes that Grandma bought for him.

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The Dow Jones Industrial Average closed above 40,000 points on Friday for the first time in its 128-year history of tracking some of the largest companies trading on the U.S. stock markets.

The index ended the trading day at 40,003.59. The last time the Dow (DJI) closed above a major milestone was on Nov. 24, 2020, when the blue-chip index first pierced 30,000. Since then, it took the index 874 trading days to reach its latest round-number landmark, according to a analysis.

When the widely followed Dow reaches a major round number like 40,000, it often garners significant attention from investors and the financial media. Although such milestones do nothing to alter the fundamentals or drivers of the market, they can have a psychological impact that influences investor attitudes and behaviors.

The Dow's climb to the 40,000-point level coincided with what could have been a challenging environment for stock market gains. From March 2022 through July 2023, the Federal Reserve aggressively raised interest rates in a campaign against soaring inflation. Fed rate hikes translate to higher borrowing costs, making it more difficult for companies to finance their growth.

However, concerns that the higher interest rate environment could sink the U.S. economy into a recession never materialized, the jobs market remained strong, and inflation gradually showed signs of cooling off—helping the Dow defy the odds to continue its march higher.

In addition to the surprising economic resilience, optimism around artificial intelligence (AI) has helped underpin the stock market rally. Expectations that AI could boost productivity and provide an array of profitable opportunities have benefitted many companies—especially the Magnificent Seven group of stocks, which includes Dow components Amazon (AMZN), Apple (AAPL), and Microsoft (MSFT).

The Dow's trip past 30,000 signaled a dramatic recovery in November 2020. In March, the index had sat at 19,000 amid COVID-19-related restrictions. The surge coincided with positive vaccine news and the removal of uncertainty following that year's election.

The Dow first traded above 20,000 on Jan. 25, 2017. The index reached that level thanks to sharp gains following the election of President Donald Trump the previous November, as investors were optimistic that plans for tax cuts, deregulation, and infrastructure spending would boost corporate profits.

Investors may have been partying like it was 1999 when the Dow first crossed the 10,000-point mark on March 29 of that year. It's worth noting this was around the height of the dot-com bubble, which would burst around a year later and send markets tumbling.

Tracing the Dow back to the 1,000-point level requires a trip back to Nov. 14, 1972. This achievement followed shortly after the election of President Richard Nixon, and cheers reportedly broke out on the floor of the New York Stock Exchange to mark the occasion.

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PepsiCo (PEP) is best known for its carbonated cola beverage, Pepsi, and its rivalry with Coca-Cola (KO). The company's expansion strategy began in 1965 with a merger between Pepsi-Cola and snack-food company Frito-Lay. As a global leader in packaged foods, snacks, and beverages, PepsiCo has used acquisitions to expand its core businesses to include a portfolio of popular brands.

As of May 2024, PepsiCo posted a market capitalization of $251 billion and a 2023 fiscal year net income of $9.16 billion. Food accounted for 59% and beverage 41% of the company's sales, with a net revenue of $91.47 billion.

PBNA includes world-famous proprietary brands like Pepsi, Gatorade, Mountain Dew, and Aquafina. It also includes partnership brands like tea variants from Lipton and coffee with Starbucks. In 2022, PepsiCo sold Tropicana, Naked, and other select juice brands to PAI Partners while retaining a 39% non-controlling interest in a newly formed joint venture, Tropicana Brands Group (TBG), operating across North America and Europe.

This division creates and distributes licensed products from Keurig Dr. Pepper, like Dr. Pepper, Crush, and Schweppes, and juices from Dole Food Company, Inc. and Ocean Spray Cranberries, Inc. PBNA accounted for 30% of net revenue for PepsiCo in 2023.

Frito-Lay resulted from the 1961 merger between the manufacturer of Fritos corn chips and the snack-food delivery company started by Herman W. Lay. Four years later, the company merged with Pepsi-Cola to form PepsiCo.

The acquisition of Frito-Lay marked Pepsi's first venture beyond the beverage market.

Frito-Lay has grown dramatically in size to become Pepsi's biggest profit producer. In fiscal year (FY) 2023, Frito-Lay North America accounted for 47% of operating profit, more than double any other division. Frito-Lay generates its profit stream from over 29 different snack brands, including Lay's, Doritos, Cheetos, Fritos, Sun Chips, Tostitos, Cracker Jack, Miss Vickie's, Rold Gold, Ruffles, Smartfood, and more.

The Quaker Oats name is more than 140 years old and was trademarked in 1877 with the U.S. Patent Office as a breakfast cereal. The company, then called German Mills American Cereal, would later merge with American oats millers to become the American Cereal Company in 1888 and the Quaker Oats Company in 1901.

In 2001, the company was acquired by Pepsi. The acquisition bolstered Pepsi's portfolio of food brands with additions such as Pearl Milling Co., Cap'n Crunch and Life cereals, and Pasta Roni. Quaker Oats also enriched PepsiCo's beverage portfolio with the sports-drink brand Gatorade. In 2023, QFNA accounted for about 3.4% of both the net revenue and operating profit of PepsiCo.

The European sector includes a range of beverages, food, and snack products. Established brands in this market include Lay’s, Doritos, Cheetos, Ruffles, Walkers, and Quaker cereals. This segment contributed 14.5% to the net revenue for PepsiCo in 2023.

AMESA contains snack brands like Lay’s, Kurkure, Chipsy, Doritos, Cheetos, and beverages like Pepsi, Mirinda, 7UP, Mountain Dew, and Aquafina. It includes partnership brands like Lipton iced tea products with Unilever (UL). This market contributed 7% to operating profit in 2023.

The LatAm division includes beverages, food, and snack products, including leading brands Toddy, Sabritas, Marias Gamesa, and Emperador. LatAm accounted for nearly 13% of PepsiCo's net revenue in 2023.

APAC manufactures and distributes many of Pepsi's largest brands, including Cheetos, Doritos, 7UP, Aquafina, and Quaker. In 2023, APAC accounted for 5% of PepsiCo's net revenue.

In 2023, food accounted for 59% of net revenue, while beverages accounted for 41%.

PepsiCo cites that 90% of crops like potatoes, whole corn, and oats are sustainably sourced globally as of 2023.

In December 2022, PepsiCo set a packaging goal that 20% of beverage servings will be delivered in reusable models by 2030.

Once a beverage company, PepsiCo began strategic acquisitions in 1965 when it purchased Frito-Lay. The company operates through seven segments to support brands, including Quaker Oats, Lipton, Doritos, and Gatorade.

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