The Editorial Team |

Kenya Cuts Rates After Scrapping Loan-Price Cap to Boost Growth

NAIROBI (Capital Markets in Africa) – Kenya’s central bank cut its benchmark interest rate for the first time in 16 months as the removal of a cap on borrowing costs will make it easier for policy decisions to flow to help boost credit and economic growth. The Monetary Policy Committee lowered the rate to 8.5% from 9% to prop an economy “operating below its potential,” Governor Patrick Njoroge said in an emailed statement. The decision was in…

Luxury Tycoon Said to Mull $1.5 Billion South African Fiber Sale

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Johann Rupert, the billionaire who controls luxury-goods giant Richemont, is considering selling stakes in two South African fiber networks valued at as much as $1.5 billion, people with knowledge of the matter said. The tycoon is working with an adviser to gauge interest from potential investors in buying stakes in Vumatel Pty and Dark Fibre Africa Pty, according to the people, who asked not to be identified because the information is private….

Johnson Unveils ‘Sensible’ Manifesto to Keep Tories in Power

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – U.K. Prime Minister Boris Johnson is aiming to consolidate his lead in the polls in the final weeks of the general election campaign. On Sunday, he announced a safety-first policy package based on “sensible” promises, which included hiring 50,000 nurses for the country’s cherished National Health Service and cutting taxes for working people. Johnson carefully avoided the radical language and out-of-the-blue policy announcements that derailed his predecessor Theresa May’s campaign in 2017….

Big Four Grip Loosens as U.K. Politicians Pledge Audit Reforms

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Small and mid-sized accounting firms in the U.K. are poised to continue winning more audit business regardless of the outcome of the Dec. 12 election. The U.K.’s top parties, Conservative and Labour, both support audit market reforms and want to shift more business away from the domination of the Big Four firms. That means the inroads made this past year by three smaller firms—Mazars, MHA MacIntyre Hudson, and RSM—to…

Teva, Drugmakers in Talks With U.S. to End Generics Probes

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – Teva Pharmaceutical Industries Ltd. and other generic drugmakers have held talks with the U.S. Justice Department in the past six months about resolving a long-running criminal antitrust probe of alleged price-fixing by the companies, according to people familiar with the matter. Among the possible outcomes that have been discussed are deferred prosecution agreements in which the companies would admit to certain allegations but would be shielded from an indictment…

RBC’s $100 Billion Woman Buys More Stocks, Just Not in the U.S.

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – The manager of some of the largest investment funds in Canada is favoring European and Asian stocks over North American. Sarah Riopelle, senior portfolio manager at RBC Global Asset Management Inc., boosted her equity allocation by 2 percentage points to 59% over the past month as she shifts her focus to markets outside of the U.S. and Canada. “Valuations are very cheap, reasonable within Europe and fundamentals seem…

Schwab to Buy TD Ameritrade for $26 Billion, Reshaping Industry

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – Charles Schwab Corp. agreed to buy TD Ameritrade Holding Corp. for about $26 billion in a deal that will reshape the retail brokerage business. TD Ameritrade stockholders will receive 1.0837 Schwab shares for each TD Ameritrade share, the companies said in a statement Monday. That’s a 17% premium based on the average share price as of the close on Nov. 20. Announcement of the deal comes after news of an acquisition broke on…

« 1 … 241 242 243 244 245 … 1,070 »