The Editorial Team |

China Urges U.S. to Fix ‘Wrong Practices’ to Resume Trade Talks

LAGOS (Capital Markets in Afrioca) – China blamed Washington for wrecking trade talks and insisted the U.S. must alter its “wrong practices” before negotiations can resume, leaving the next move to President Donald Trump as financial markets slump amid prospects for a prolonged dispute. “China’s stance on the talks has been clear — if the U.S. wants to resume talks, they should show sincerity and correct their wrong practices,” ministry spokesman Gao Feng said in Beijing on Thursday. “Only…

Amazon Is Working on a Device That Can Read Human Emotions

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NEW YORK (Capital Markets in Afrioca) – Amazon.com Inc. is developing a voice-activated wearable device that can recognize human emotions. The wrist-worn gadget is described as a health and wellness product in internal documents reviewed by Bloomberg. It’s a collaboration between Lab126, the hardware development group behind Amazon’s Fire phone and Echo smart speaker, and the Alexa voice software team. Designed to work with a smartphone app, the device has microphones paired with software that can…

Stocks Slump, Dollar Rises as Trade Worries Deepen: Markets Wrap

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NEW YORK (Capital Markets in Afrioca) – Stocks slumped globally on Thursday as the simmering trade dispute between the world’s two largest economies took a greater toll on markets. Safe assets were in demand, with gold and the yen gaining alongside the dollar and Treasuries. S&P 500 futures pointed to a big drop at the New York open after the Communist Party’s flagship newspaper published two commentaries assailing American moves to curb Chinese companies. Tesla sunk to below $185…

U.S. Activist Pushes Legoland Operator Merlin to Go Private

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LONDON (Capital Markets in Afrioca) – A U.S. activist investor wants to push Britain’s biggest theme park owner off the stock market, saying it would be worth more in private hands. Shareholders in Legoland and Alton Towers operator Merlin Entertainments Plc have had a rocky ride since the Danish family that owns the Lego toy brand listed the company in 2013. Terrorist attacks and Brexit have clouded prospects for a business that relies on steady growth in…

Pound Investors Bailing Out as May’s Fate Deepens Brexit Chaos

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LONDON (Capital Markets in Afrioca) – The pound is on a record losing streak and there aren’t many investors ready to stand in the way of further losses. Investec Asset Management, Aberdeen Standard Investments and Pictet Asset Management SA are cutting sterling positions or staying on the sidelines as Britain’s political turmoil reignites uncertainty around the nation’s exit from the European Union. With a senior minister resigning to add pressure on Prime Minister Theresa May to abandon…

Zuma’s Lawyer Urges South African Court to Scrap Graft Charges

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JOHANNESBURG (Capital Markets in Africa) – Lawyers acting for former South African President Jacob Zuma argued that corruption charges against him dating back almost two decades should be scrapped because the case against him is politically motivated and has been unreasonably delayed. Musi Sikhakhane told the High Court in the eastern city of Pietermaritzburg on Monday that former chief prosecutor Bulelani Ngcuka was an ally of Thabo Mbeki, who ruled from 1999 until 2008 and sought to block Zuma from…

Currency Rout Ends Suddenly as Zimbabwe Touts $500 Million Plan

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HARARE (Capital Markets in Africa) – There’s no evidence that Zimbabwe has pushed through with a plan to alleviate a crippling dollar shortage, and yet the currency has already strengthened on the black market. The RTGS$ advanced about 17% from a record low, according to marketwatch.co.zw, a website run by financial analysts, after the central bank said it would inject $500 million into the foreign-exchange market from Monday. The central bank is intervening as the price of goods soars…

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