The Editorial Team |

Ramaphosa Elected South Africa President as Deputy’s Post Unsure

JOHANNESBURG (Capital Markets in Africa) – Cyril Ramaphosa was elected unopposed as South Africa’s president by the National Assembly on Wednesday, while his deputy’s future was in doubt after claims from the ruling African National Congress of wrongdoing. Ramaphosa, who has vowed to clean up the government after his predecessor Jacob Zuma’s scandal-marred nine-year rule, is due to name a new cabinet after his May 25 inauguration following the ANC’s election victory this month. Under the constitution,…

Full-Blown Trade War Quickly Shifting From Risk to Baseline

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NEW YORK (Capital Markets in Afrioca) – After months of predicting a trade deal between the world’s two largest economies, economists at some of the biggest financial institutions are growing increasingly pessimistic. Goldman Sachs Group Inc., Nomura Holdings Inc. and JPMorgan Chase and Co. are among those that have rewritten their forecasts as U.S. President Donald Trump threatens to impose a 25% tariffs on around $300 billion of additional Chinese imports. Analysts at Nomura have made that…

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

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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…

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