Features

LAGOS (Capital Markets in Africa) – A ripple of negative reaction across U.K. government bonds may be a taste of what’s to come as the country heads for one of Europe’s first major tests of fiscal stimulus. The policy, long-advocated by central banks, could emerge in the first finance bill to be presented in Westminster after Brexit, on March 11. Prime Minister Boris Johnson’s budget may focus global attention on the potential for expanded government spending…

LAGOS (Capital Markets in Africa) – Iran fired more than a dozen missiles at U.S.-Iraqi airbases, a direct attack on American forces in the region that risks further action from President Donald Trump after a U.S. airstrike killed top Iranian general Qassem Soleimani last week. The Islamic Revolutionary Guard Corps claimed responsibility for the barrage, which the Pentagon said was launched from Iran, and warned that additional operations were being prepared. At the same time, there were…

LAGOS (capital Markets in Africa) – Unilever slumped after Chief Executive Officer Alan Jopebacked away from his predecessor’s growth targets as consumers around the world jilt mainstream brands. The maker of Ben & Jerry’s ice cream and Dove soap said sales gains will be slightly below guidance for 2019 and in the lower half of its expected range in 2020. The stock fell as much as 6.6% in Amsterdam on Tuesday, the steepest intraday decline in almost…

LONDON (Capital Markets in Africa) – Boris Johnson will change the law to ensure the Brexit transition phase is not extended, setting up a new cliff-edge for a no-deal split with the European Union at the end of next year. The pound erased all its gains made since last Thursday’s general election. The U.K. prime minister wants to deliver his election promise to ratify a new free-trade agreement with the bloc before the bridging period maintaining the status quo…

LAGOS (Capital Markets in Africa) – U.S. Defense Secretary Mark Esper said Turkey’s threats to close two critical NATO installations if it’s sanctioned for growing military ties to Russia raise questions about the country’s commitment to the Western alliance. A day after President Recep Tayyip Erdogan warned of possible retaliation if the U.S. imposes penalties over Turkey’s purchase of a Russian missile system, the Pentagon chief suggested the country may have set itself on a collision course with the…

LAGOS (Capital Markets in Africa) – U.S. Defense Secretary Mark Esper said Turkey’s threats to close two critical NATO installations if it’s sanctioned for growing military ties to Russia raise questions about the country’s commitment to the Western alliance. A day after President Recep Tayyip Erdogan warned of possible retaliation if the U.S. imposes penalties over Turkey’s purchase of a Russian missile system, the Pentagon chief suggested the country may have set itself on a collision course with the…

JOHANNESBURG (Capital Markets in Africa) – South Africa’s government revived a so-called Energy War Room to tackle the nation’s electricity crisis, as it brought forward the date when the incoming chief executive officer of the state power utility will start work. The team, to be headed by Deputy President David Mabuza, will seek to avoid a repeat of a nine-day blackout earlier this month that risks tipping the economy into recession. Debt-ridden Eskom Holdings SOC…