The Editorial Team |

Trading Desks Ban Holidays and Bolster Liquidity for Brexit

LONDON (Capital Markets in Africa) – It’s the biggest event of the year for the City of London, and firms are taking no chances before the Brexit deadline as they scrap holidays, ensure access to ready cash and prepare to execute contingency planning. For financial institutions, the stakes are high: they don’t want to be on the wrong side of a 10% move in sterling or U.K. stocks. State Street Corp. and Mizuho Bank Ltd….

U.K. Business Seeks More Carrot, Less Stick From Labour Party

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LONDON (Capital Markets in Africa) – Businesses are trying to persuade the opposition Labour Party to soften its plans to crimp profits, empower workers and take privately-held assets under state control as the U.K. approaches an unpredictable general election. After a string of nationalization pledges, party leader Jeremy Corbyn added another last month when he said a Labour government would set up a publicly-owned company to manufacture generic versions of patented medicines, cutting the profitability of pharmaceutical…

Amazon Employs People to Watch Cloud Cam Home Security Footage

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NEW YORK (Capital Markets in Africa) – In a promotional video, Amazon.com Inc. says its Cloud Cam home security camera provides “everything you need to monitor your home, day or night.” In fact, the artificially intelligent device requires help from a squad of invisible employees. Dozens of Amazon workers based in India and Romania review select clips captured by Cloud Cam, according to five people who have worked on the program or have direct knowledge of it. Those…

Bitcoin Bounces Back From September Crash; Coders Tout Ethereum

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NEW YORK (Capital Markets in Africa) – Bitcoin gained the most since before last month’s flash crash, while Ethereum rallied even more as developers gathered at the biggest conference for the community behind the second-largest cryptocurrency. The rally is partly the result of an update on the development of next-generation Ethereum network and new financial apps at the Devcon conference in Japan that started yesterday, according to Josh Lim, head of the trading strategy at Galaxy…

U.S. Weighs Currency Pact With China as Part of Partial Deal

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NEW YORK (Capital Markets in Africa) – The White House is looking at rolling out a previously agreed currency pact with China as part of an early harvest deal that could also see a tariff increase next week suspended, according to people familiar with the discussions. The currency accord, which the U.S. said had been agreed to earlier this year before trade talks broke down, would be part of what the White House considers to…

US White House Focuses on China Stock Limits in Retirement Fund

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NEW YORK (Capital Markets in Africa) – The Trump administration is moving ahead with discussions around possible restrictions on portfolio flows into China, with a particular focus on investments made by U.S. government retirement funds, people familiar with the internal deliberations said. The efforts are advancing even after American officials pushed back strongly against a Bloomberg News report late last month that a range of such limits was under review. Trump officials last week held meetings on…

Banks Set for Tough 2020 as Analysts Fear Rates, Elections

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LAGOS (Capital Markets in Africa) – Banks may be set for a harder time in the next few years as they face slowing earnings-per-share growth and mounting concern about tax hikes and tighter regulation if Democrats win in 2020, analysts say. Citi’s Keith Horowitz sees reduced earnings forecasts as bank stock valuations are “flashing red.” He updated his estimates and price targets to incorporate four interest rate cuts through 2020, which left Citi below Street estimates for…

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