The Editorial Team |

FX Investors Descend on Miami to Talk Virus, Tech and Politics

NEW YORK (Capital Markets in Africa) – As currency-trading heads from investment firms and banks convene in Miami this week, a few themes may dominate: The potential for new technology to lower costs, the impact of the coronavirus and U.S. elections. In a sign of the changing landscape as the TradeTech FX conference kicks off, a pre-summit survey showed investors view trading with liquidity providers other than banks as a key goal. Meanwhile, companies that…

Sanders’s Rise Sparks Re-Evaluation by Detractors on Wall Street

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NEW YORK (Capital Markets in Africa) – Wall Street has little use for Bernie Sanders. The Vermont senator and self-described democratic socialist boasts about his antagonistic relationship with the moneyed class and plans to tax the rich and hamstring banks. Yet the market’s been calm as he climbed in the national polls, notching a win in the New Hampshire primary — the S&P 500 closed at an all-time high Tuesday. The reaction was different last fall, when…

Barr Unleashes Justice Department Turmoil Over Stone Case

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NEW YORK (Capital Markets in Africa) – Attorney General William Barr is confronting one of the biggest crises of his tenure after the Justice Department reversed course on a recommendation about how long one of President Donald Trump’s allies should go to prison, prompting a team of career prosecutors to quit the case. Coming after he helped the president navigate the special counsel’s probe of Russian election meddling and prevail in the third presidential impeachment trial in U.S….

U.S. Futures Climb With Europe Stocks; Bonds Slip: Markets Wrap

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NEW YORK (Capital Markets in Africa) – U.S. equity-index futures gained along with European stocks on Wednesday and crude oil rallied amid signs the spread of the coronavirus in China is slowing and investor optimism the global economy can weather the storm. Treasury yields edged higher. Contracts on all three major American gauges pointed to a firm open after China’s Hubei province reported the lowest number of new virus cases this month and suspected infections on the…

Singapore Family Extends Africa Noodle Empire Into Digital Banks

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LAGOS (Capital Markets in Africa)- Singapore’s family-run Tolaram Group made much of its $1.8 billion fortune in cereals, noodles, and infrastructure in Africa. Now, it’s planning to use its global reach and local relationships to move into digital banking there. The group has a blueprint of sorts from another business it owns — PT Bank Amar Indonesia. Bank Amar is largely a digital institution, with loans and deposits for consumers handled over mobile phones. The publicly listed group…

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LAGOS (Capital Markets in Africa)- Spain’s Grifols family has prospered with storefront collection centers across U.S. Harry Lee Armstrong is almost broke. But he’s found a quick way to make a little cash. It’s called “plassing.” Laid off from his construction job, Armstrong has driven to a storefront donation center where a valuable global commodity — the golden plasma in human blood — is harvested seven days a week. Wedged between a dental office and a liquor…

Trump’s $4.8 Trillion Budget Would Increase Debt, Cut Safety Net

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NEW YORK (Capital Markets in Africa) – President Donald Trump’s $4.8 trillion budget for the upcoming fiscal year proposes billions more in funding for defense and a U.S. mission to Mars but would bring steep cuts to social programs despite almost $1 trillion in deficit spending. The proposal, scheduled to be unveiled on Monday, is an election-year embodiment of many of the policy priorities Trump has championed over his first three years in office. He…

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