The Editorial Team |

Democratic 2020 Candidates Lag U.S. in Giving, Tax Returns Show

NEW YORK (Capital Markets in Africa) – As more presidential candidates release their tax returns, a picture of Democrats’ charitable giving is beginning to emerge. For the most part, they’re not as generous as most Americans. With notable exceptions, most high-polling 2020 Democratic presidential candidates gave well below the U.S. average to charity in 2018, according to the deductions claimed on their tax returns. While Americans give between 2 percent and 4 percent of their…

At Milken’s Retreat for Billionaires, Capitalism Is Still Good

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LONDON (Capital Markets in Africa) – In a year when billionaires are hot political targets, and Wall Street leaders openly worry about the future of capitalism, many are about to take refuge among friends in sunny California. Buyout titans, bankers, politicians, entertainment moguls and even professional athletes are among hundreds set to gather at the Milken Global Conference in Los Angeles starting this weekend. With democratic socialists propelling the national news and presidential candidates debating how much…

Capitalism Is Broken Because of Central Banks: Alberto Gallo

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LONDON (Capital Markets in Africa) – While many agree that current monetary policies are not sustainable, few have offered realistic alternatives. Here are three. It has been a decade since the Federal Reserve and other central banks began cutting interest rates to zero — or even below — and injecting unprecedented amounts of cash into the global financial system via quantitative easing. And while global stocks are at or near record highs, central banks around the…

RBS Alarm Bells on Brexit Challenge Sends Its Shares Sliding

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LONDON (Capital Markets in Africa) – Royal Bank of Scotland Group Plc tumbled after the state-backed lender said Britain’s slowing economy is likely to bite into income over the coming months. The bank’s shares fell as much as seven percent after it sounded the strongest warning yet on the impact of Brexit this year. The note of caution overshadowed the bank posting a better-than-expected operating profit before tax of 1.01 billion pounds ($1.3 billion), according to…

Theresa May’s Government Persists With `Difficult’ Labour Brexit Talks

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LONDON (Capital Markets in Africa) – Theresa May’s government will continue talks with the main opposition Labour Party aimed at securing a Brexit compromise, as time runs out before the U.K. is forced to take part in European Parliament elections. “It’s important that we try and work as hard as we can to try and come up with a single unified approach,” the premier’s spokeswoman, Alison Donnelly, told reporters on Friday. “The talks are ongoing and…

South Africa’s Main Opposition DA Is Said to Face Risk of Split

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JOHANNESBURG (Capital Markets in Africa) – Several senior members of the Democratic Alliance, South Africa’s official opposition, have considered breaking away to form a new party because of disputes about its policy direction, according to people familiar with the matter. Some officials are concerned by the adoption of policies that shift it away from liberal roots ahead of national elections on May 8, including a “Secure our Borders” campaign that analysts say is a populist appeal…

Nigeria Revives Plan to Double Crude Oil Output, Triple Refining

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LAGOS (Capital Markets in Africa) – Nigeria plans to almost double oil production and triple its refining capacity by 2025, reviving previous pledges that turned out to be hard to achieve in practice. The OPEC member is looking to pump 4 million barrels a day by 2025 and increase refining capacity to 1.5 million barrels daily, Maikanti Baru, managing director of state-owned Nigerian National Petroleum Corp., said at a conference Thursday in the capital Abuja. “Nigeria…

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