Features | - Part 179

European Car Sales Drop as Brexit Concerns Hurt U.K. Demand

LAGOS (Capital Markets in Africa) – European car sales fell in September for only the second monthly drop this year as concerns about Brexit among United Kingdom. consumers more than offset gains in France, Italy and Spain. Registrations declined 2 percent from a year earlier to 1.47 million vehicles, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said Tuesday in a statement. Figures were dragged down by a 9.3 slide in the U.K., the region’s second-biggest…

Theresa May’s Dinner With Juncker Yields No Signs of Brexit Progress

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – United Kingdom Prime Minister Theresa May’s attempt to unblock stalled Brexit talks by traveling to Brussels to see European Commission President Jean-Claude Juncker yielded little, with both sides issuing a statement that entrenched their previous stances. May made the journey, after calls to German Chancellor Angela Merkel and France’s Emmanuel Macron, to try to break a deadlock that has some senior ministers in her team doubtful that the rest of the European Union even wants a deal. European…

Barclays CEO Whistle-Blower Probe Is Said to Take Until December

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – U.K. regulators probing Barclays Plc Chief Executive Officer Jes Staley’s attempts to unmask a whistle-blower will probably take until the end of the year to conclude their investigation, people with knowledge of the process said. The Financial Conduct Authority expects to reach a final decision on Staley’s fate in December, said the people, who asked not to be identified speaking about an open case. That would be two months later than the original October…

Brawls, Autocratic Moves Threaten East African Democracy

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Ugandan lawmakers brawl over a bill that could create a president-for-life. Tanzania arrests lawmakers and shutters newspapers. And as Kenya tries to rerun a botched election, a ruling party leader says what the country really needs is a benevolent dictator. As unrest and crackdowns plague some of the region’s largest economies, home to various levels of political freedom, the situation is adding to uncertainty in a part of the world already rocked by…

U.K. Is Said to See Brexit Breakdown Without EU Compromise

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Brexit negotiations are heading for a catastrophic breakdown unless the European Union signals this week that it will allow talks to move on to trade, according to a person familiar with the U.K. government’s position. Without a clear sign, that negotiations will progress to trade and transition arrangements by December at this week’s summit of EU leaders, the entire Brexit process will be in danger of collapse — and senior…

Zuma May Face Graft Charges After South Africa Court Ruling

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s Supreme Court of Appeal opened the way for the reinstatement of criminal charges against President Jacob Zuma by upholding a lower court’s ruling that a decision by prosecutors to scrap them was “irrational.” Zuma’s lawyers conceded in a Sept. 14 hearing at the High Court that the National Prosecuting Authority’s reasoning in dropping the case eight years ago was wrong but argued that the president should be allowed to make representations before…

What’s Next in Kenya’s Political Crisis Is Anybody’s Guess

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Two months after Kenya staged its presidential election, the East African nation’s political future remains a guessing game. The drama began last month when the Supreme Court — in a first for Africa — annulled the Aug. 8 election because of “illegalities and irregularities” and ordered a fresh vote. That followed allegations by opposition candidate Raila Odinga that the original vote, won by President Uhuru Kenyatta, was rigged. The latest twist came…

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