DINNER PARTY INTEL: Weed the small print
The government has been given 24 months to ’rectify the constitutional defects’ that prohibit marijuana use
1. Weed the small print
The Constitutional Court ruled on Tuesday that the private cultivation, possession and consumption of cannabis is legal. The government has been given 24 months to "rectify the constitutional defects" that prohibit marijuana use. However, the court, by way of a reading-in, ensured it would not be a criminal offence to use or be in possession of cannabis for private consumption or to cultivate it in a private place for personal consumption.
2. Rich moral high ground
The Nigerian presidency has hit back at HSBC after one of its analysts expressed the view that a win for President Muhammadu Buhari in February’s elections would be bad news for the oil giant’s ailing economy. "What killed Nigeria’s economy in the past was the unbridled looting of state resources by leaders … actively supported by HSBC," said the presidency. The bank had "no moral right" to criticise Buhari. The economic & financial crimes commission said the bank, whose vigilance has been questioned by US regulators, was "synonymous with money laundering".
3. Time’s a-changin hands
An icon of the print age, Time magazine, is changing hands again. Subject to regulatory approval, media group Meredith Corp will sell the title to Marc Benioff, a co-founder of cloud computing pioneer Salesforce, for $190m. Meredith bought the title, hit by falling sales and ad revenue, eight months ago. Other Time Inc publications for sale are Fortune, Money, and Sports Illustrated. Another tech billionaire, Amazon founder Jeff Bezos, bought The Washington Post for $250m in 2013. Last year, Laurene Powell Jobs, widow of Steve Jobs, acquired a majority stake in The Atlantic magazine.