The Editorial Team |

Banks, Fund Manager Push to Solve $32 Billion Eskom Debt Crisis

JOHANNESBURG (Capital Markets in Africa) — Nedbank Group Ltd. is leading discussions to restructure South African power utility Eskom Holdings SOC Ltd.’s 464 billion ($32 billion) debt load, according to people familiar with the talks. The parties met in recent days, and one of the options is to transfer at least 100 billion rand of debt to a special-purpose vehicle that would be overseen by the Public Investment Corp., Africa’s biggest fund manager, the people said….

Is PayPal Stock A Buy Right As Bitcoin Surges?

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LAGOS (Capital Markets in Africa) – PayPal is the largest digital platform that provides money transfer services. The fast-growing company remains one of the top stocks in today’s stock market. But is PayPal stock a buy in the current stock market rally? PayPal Stock Fundamental Analysis: A Strong Track Record PayPal boasts a consistent track record of earnings and sales growth, stretching back to at least 2010. In that year, it earned a mere 29…

First Mover: Who ISN’T Dabbling as Bitcoin Passes $52K, Ether Tops $1,900

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LAGOS (Capital Markets in Africa) – Bitcoin was lower after surging on Wednesday to a new all-time high price above $52,000, while ether topped $1,900 for the first time, pushing toward the psychologically crucial $2,000 mark. “My sense is the technology has evolved and the regulations have evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up,” Rick Rieder, head of…

Barclays Cautions on Outlook as Trading Beat Fuels Buyback

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LONDON (Capital Markets in Africa) — A strong end to the year for Barclays Plc traders helped the British lender deliver a share buyback and a return to dividends even as the bank said the outlook for 2021 remained uncertain. The London-based firm’s securities division reported a better-than-expected 45% rise in market revenue for the year, the biggest trading jump among major global investment banks. But the pandemic continued to slam the bank’s lending businesses,…

Apple Hiring Engineers to Develop 6G Wireless

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LAGOS (Capital Markets in Africa) — Apple Inc. launched its first iPhones with 5G wireless speeds a few months ago. Now it’s looking to start work on sixth-generation cellular connectivity, or 6G, indicating it wants to be a leader in the technology rather than relying on other companies. The Cupertino, California-based company this week posted job ads seeking wireless system research engineers for current and next-generation networks. The listings are for positions at Apple’s offices…

Biden Immigration Agenda Takes Shape as Lawmakers Unveil Bill

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NEW YORK (Capital Markets in Africa) — President Joe Biden’s proposed immigration overhaul will be introduced in Congress on Thursday, kicking off what will likely be one of his most difficult legislative challenges. The legislation, known as the U.S. Citizenship Act of 2021, hews closely to the outline that Biden sent to Congress on his first day in office. The proposal includes an eight-year path to citizenship for most of the roughly 11 million immigrants…

Africa’s Largest Economy Unexpectedly Exits Recession

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LAGOS (Capital Markets in Africa) — Nigeria’s economy unexpectedly came out of a recession in the fourth quarter as restrictions to curb the spread of the coronavirus were eased. The Gross domestic product grew 0.11% in the three months through December from a year earlier, compared with a decline of 3.6% in the third quarter, the Abuja-based National Bureau of Statistics said on its website on Thursday. The median estimate of five economists in a…

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