The Editorial Team |

Investec Ups Climate Investment, Clarity as Pressure Grows

LONDON (Capital Markets in Africa) – Investec is increasing its focus on environmental, social and governance issues to bolster its profit and address concerns raised by investors over climate change. The South African and U.K. lender — which offers wealth management as well as private, corporate and investment banking — is getting ready to list a renewable-energy fund later this year. This month, Investec launched a structured product that for the first time gives South Africans…

BP Will Erase Its Own CO2 Emissions by 2050, New CEO Says

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LONDON (Capital Markets in Africa) – BP Plc pledged to achieve net-zero emissions from its own oil and gas operations and production by 2050 while halving the carbon intensity of all the products it sells, as its new boss sets out his vision for the future. London-based BP became the latest fossil fuel giant to set out an ambitious, yet rather distant, the target for curbing emissions of planet-warming gases. The announcement from incoming Chief…

City of London’s Post-Brexit Outlook Dimmed by Political Spat

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LONDON (Capital Markets in Africa) – Talks on the post-Brexit future of European capital markets have largely avoided the toxic haggling of the broader negotiations — until now. U.K. Chancellor of the Exchequer Sajid Javid and chief European Union negotiator Michel Barnier traded blows Tuesday as the two sides approach a self-imposed June deadline to make progress. The flashpoint is the very foundation of the future relationship: A policy called “equivalence” that would give U.K. firms continued access to…

Powell Suggests the Fed May Lack Ammo to Combat Next Recession

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NEW YORK (Capital Markets in Africa) – Federal Reserve Chairman Jerome Powell came close to acknowledging that the central bank may not have the firepower to fight the next recession and called on Congress to get ready to help. The current low level of interest rates “means that it would be important for fiscal policy to support the economy if it weakens,” he told the House Financial Services Committee on Tuesday. The remark, which came in opening testimony that…

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

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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….

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