Author: The Editorial Team

LONDON (Capital Markets in Africa) – Chancellor of the Exchequer Philip Hammond issued a fresh warning that leaving the European Union without a deal would damage the U.K. economy and leave people less well off. He said Parliament’s rejection of Theresa May’s Brexit deal had created a “cloud of uncertainty” and warned that crashing out would cause “significant disruption.” He urged politicians to rule out a no-deal Brexit in a vote Wednesday evening. In his Spring Statement, the…

LAGOS (Capital Markets in Africa) – The Boeing Co. 737 Max crash in Ethiopia looks increasingly likely to hit the planemaker’s order book as mounting safety concerns prompt airlines to reconsider purchases worth about $57 billion. VietJet Aviation JSC, which doubled its order to 200 of the aircraft priced at about $25 billion only last month, said it will decide on its future plans once the cause of the tragedy has been found, while Kenya Airways Plc is reviewing proposals to…

New York (Capital Markets inAfrica) – Emergency crews scrambled to rescue dozens of children Wednesday morning from the wreckage of a three-story building housing a nursery and primary school that collapsed in Lagos, Nigeria. Hundreds of people were gathered at the site, on Lagos Island, wailing as motionless children were removed from the rubble and spirited by ambulance to a nearby hospital. There were news reports that some people had been killed, but no official…

JOHANNESBURG (Capital Markets in Africa)  – Since its founding almost a century ago, South Africa’s central bank has been owned by private shareholders. Now President Cyril Ramaphosais pushing ahead on a plan to nationalize the Reserve Bank in order to address its anomalous ownership structure and assert the nation’s sovereignty. Critics say the move could shake faith in an institution that’s been seen as being above politics and be the first step toward infringing on its…