The Editorial Team |

Powell Says Risks to Outlook Remain as Fed Monitors Coronavirus

NEW YORK (Capital Markets in Africa) – Federal Reserve Chairman Jerome Powell said the U.S. central bank is keeping a close eye on fallout from the deadly coronavirus outbreak in China, singling it out among risks threatening the U.S. and world economy. “In particular, we are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy,” Powell said in prepared remarks he’s scheduled…

Johnson Backs HS2 U.K. Rail Plan Amid Rising Costs and Tory Rage

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – U.K. Prime Minister Boris Johnson committed tens of billions of pounds for a controversial new high-speed rail line linking London with cities to the north, despite soaring costs and mounting anger from his own Conservative Party colleagues. The High Speed 2 (HS2) development will become Europe’s largest infrastructure project but it has suffered delays and criticism of its management, with spiraling costs estimated to rise potentially to more than…

EU Slaps Down U.K. Calls for Permanent Banking ‘Equivalence’

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – The European Union swiftly rebuffed calls from the U.K. government that London’s financial services firms should enjoy continued access to the single market even if the country breaks away from the bloc’s rules after Brexit. The U.K. Treasury had included the demand for so-called permanent equivalence in a draft of its opening positions for next month’s trade negotiations with the EU — some of which were revealed in a document that…

Jumbo Europe Borrowers Add Pound Bonds on Brexit Cost Drop

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – More jumbo bond sellers in Europe may include sterling tranches as a Brexit-fueled decline in borrowing costs bolsters the appeal of a diversified investor base. Siemens AG is marketing a benchmark five-year pound bond on Tuesday, together with a four-part euro benchmark offering. LVMH Moet Hennessy Louis Vuitton SE and Comcast Corp. also sold pound notes alongside euro tranches last week, following a decline in sterling bond yields caused by expectations for an interest-rate cut. On…

Benin Plans Eurobond Sale as Demand for African Debt Soars

Posted on by The Editorial Team

BENIN (Capital Markets in Africa) – Benin is considering to again sell euro-denominated bonds in 2020 as the West African nation seeks to benefit from strong demand for the continent’s high-yielding foreign-currency debt, according to people familiar with the matter. The $10-billion economy, which sold a debut offshore bond of 500 million euros ($548 million) in March, will probably sell a bigger amount of debt in an issuance that would probably take place in the second…

Investec CEO Warns Government Indecision Threatens SAA Survival

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Squabbling between South Africa’s government and the state-owned airline’s bankruptcy administrator is threatening its chances of survival, Investec Ltd.’s chief executive officer said. President Cyril Ramaphosa in December placed debt-ridden South African Airways in business rescue, a local form of bankruptcy protection. Over the past few days, there’s been a flurry of conflicting messages from the government and the business-rescue practitioners, leaving investors and customers unclear about whether the carrier has a future….

Ghana Closes In on Watchdogs, Execs at Center of Banking Crisis

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana is seeking to prosecute a former finance minister, industry regulator and deputy central bank governor in a bid to stamp out alleged collusion with company executives that helped contribute to the West African nation’s biggest banking crisis. The former officials are being charged along with nine other banking executives on charges ranging from money laundering to defrauding depositors in the aftermath of a three-year industry clean-up — the costs of…

« 1 … 202 203 204 205 206 … 1,072 »