Johnson Unveils ‘Sensible’ Manifesto to Keep Tories in Power

Johnson Unveils ‘Sensible’ Manifesto to Keep Tories in Power

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….

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

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

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…

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

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

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…

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

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

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…

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

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

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…

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Ghana Holds Key Interest Rate as it Sees Inflation in Target

Ghana Holds Key Interest Rate as it Sees Inflation in Target

ACCRA (Capital Markets in Africa) – Ghana’s central bank held its benchmark interest rate for a fifth consecutive time as it sees economic growth momentum remaining strong and inflation staying inside its target range. The Monetary Policy Committee kept the rate at 16%, Governor Ernest Addison told reporters on Monday in the capital, Accra. That was in line with the forecast of all four economists in a Bloomberg survey. Key Insights While inflation dropped below…

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AFSIC – Investing in Africa 2020 confirms 300+ excellent speakers

AFSIC – Investing in Africa 2020 confirms 300+ excellent speakers

AFSIC – Investing in Africa, scheduled for May 5th -7th 2020 in London, has confirmed over 300 speakers including a huge range of Africa’s most important investors, dealmakers and business leaders. AFSIC is focused on profiling Africa’s most compelling investment opportunities and promoting new business transactions through structured presentation sessions complemented by an array of networking events, business match-making meetings, workshops and country focussed sessions, offering multiple opportunities to network and develop strong business relationships…

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