The Editorial Team |

Opponents of No-Deal Brexit Harden Plans to Block Johnson Threat

LONDON (Capital Markets in Africa) – Opponents of Boris Johnson’s threat to crash out of the European Union without a deal on Oct. 31 are hardening their plans to stop him as the new U.K. prime minister seeks to build support with a series of targeted spending pledges. Opposition Labour Party leader Jeremy Corbyn signaled he will call a vote of no-confidence when Parliament returns next month while rebel MP Dominic Grieve said a growing number of his fellow Conservatives…

Sirius Ends Bond Sale, Putting $3.8 Billion English Mine at Risk

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LONDON (Capital Markets in Africa) – Sirius Minerals Plc plunged as its plans to build a $3.8 billion mine in the northeast of England were thrown into doubt after the company suspended a $500 million bond sale. The setback to a critical part of Sirius’s financing plan is the latest blow in almost a decade of efforts to build its giant potash mine. It’s so far had to overcome environmental opposition, concerns about demand prospects…

Investors Bet on BOE Cutting Rates Below Zero by Early 2021

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LONDON (Capital Markets in Africa) – Investors have begun betting that the Bank of England will join the European Central Bank in cutting interest rates below zero. Traders bought more than 21,000 option contracts in the past month that will pay out if the BOE delves into negative territory by March 2021. The bets will succeed if the central bank buckles under the twin pressures of Brexit and a global economic slowdown and eases policy…

Trump Courts `Good Man’ Boris Johnson as an Ally on Iran, Huawei

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LONDON (Capital Markets in Africa) – As Boris Johnson hurtles toward a no-deal Brexit that could leave the U.K. diplomatically adrift and economically vulnerable, President Donald Trump is looking to seize an opportunity to lure the country away from Europe on some of his top foreign policy priorities: Iran and Huawei. Yet with Johnson focused on negotiating a breakup with the European Union — and perhaps a snap election at home — the White House may have to be…

Donald Trump Gets His Wall at Last. But It’s in Zimbabwe

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HARARE (Capital Markets in Africa) – Frustrated by Democrats from fulfilling a campaign pledge to build a wall along the southern U.S. border, Donald Trump is getting his way regardless. The only downside for the president is that this wall is in southern Africa. The U.S. is putting up $475,000 to help restore the stone walls at Great Zimbabwe, a fortress that dates back to the 11th century and which gave the country its name. Much of…

What ‘No-Deal Brexit’ Means and Why It’s a Big Risk: QuickTake

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LONDON (Capital Markets in Africa) – The threat of a no-deal Brexit is back, and companies on both sides of the English Channel are gearing up once again for the scenario they consider the worst case. Boris Johnson, the U.K.’s new prime minister, has vowed to lead the country out of the European Union on Oct. 31, whether or not he secures a deal to smooth the process of untangling more than 40 years of integration. What…

This $468-Billion Fund Is Betting on U.K. Yields Going to Zero

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LONDON (Capital Markets in Africa) – The U.K. may become the next developed economy to embrace zero yields, according to an influential money manager. The yield on two-year gilts could “easily” vanish in the coming months as the Bank of England will need to cut borrowing costs more than once to support an economy on the brink of recession, according to Columbia Threadneedle Investments, which oversees the equivalent of $468 billion. The firm, which has…

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