Features

NEW YORK (Capital Markets in Africa) – The Trump administration has issued a partial — and qualified — denial to the revelation that it is discussing imposing limits on U.S. investments in Chinese companies and financial markets as China vowed to continue opening its markets to foreign investment. Bloomberg News on Friday reported that Larry Kudlow, the head of President Donald Trump’s National Economic Council, was leading deliberations inside the White House over what some…

LAGOS (Capital Markets in Africa) – A new advisory panel created by President Muhammadu Buhari could usher the reforms needed to breathe life into Nigeria’s economy during his second term. That’s if the 76-year-old former military ruler listens to them. Buhari named an eight-member Economic Advisory Council last week to replace a broader team of bureaucrats led by Vice President Yemi Osinbajo, who under the constitution is the government’s economic policy coordinator. Business leaders, including Africa’s…

LONDON (Capital Markets in Africa) British Airways owner IAG SA warned that challenges facing the European airline industry are set to continue into 2020 after cutting profit guidance for this year. IAG lowered capacity growth in the final quarter and will provide details in November of a decrease next year, Chief Executive Officer Willie Walsh said on a call with analysts on Thursday. Earnings for this year will be about 6% lower than forecast in the wake of strikes…

LONDON (Capital Markets in Africa) – U.K. Prime Minister Boris Johnson said he disagreed with the ruling of the country’s highest court that he broke the law by suspending Parliament for five weeks in the run-up to his Oct. 31 Brexit deadline. In an unprecedented and sweeping rebuke to the premier, the Supreme Court’s 11 judges found Johnson had given Queen Elizabeth II “unlawful” advice to suspend the legislature — and that his decision had wrecked the…

NEW YORK (Capital Markets in Africa) – Rick Stone, a former partner at Cadwalader, Wickersham & Taft, see treacherous times ahead for family offices trying to deploy cash. The head of Stone Family Office said he doubts the bond market will provide any real return over the next decade, that equity markets will suffer a substantial drop and then be flat, and that too much venture capital and private equity money will continue to chase…

LONDON (Capital Markets in Africa) – U.K. Labour leader Jeremy Corbyn is struggling to keep his party together as senior members demand an unambiguous commitment to staying in the European Union before a general election expected in the fall. Corbyn said his party is pledging to hold a second referendum on Brexit if it’s elected to government, pitting ‘Remain’ against a “credible” deal he negotiates with the EU — but he wouldn’t say which side he’d campaign…

LONDON (Capital Markets in Africa) – The U.K.’s opposition Labour Party said it’s already drafted laws to nationalize water and energy utilities as the prospect of a general election looms. Taking control of energy transmission and distribution networks as well as water companies will help bring down bills for consumers and allow the government to pursue a strategy to curb greenhouse gas emissions, Rebecca Long-Bailey, the party’s business spokeswoman, said on Sunday. “We’ve got the legislation…