27 C
Lagos, South Africa and New York
Monday, August 3, 2020

AB InBev offers voluntary severance in South Africa: newspaper

JOHANNESBURG (Reuters) - Anheuser-Busch InBev, the world's largest brewer, has offered more than 1,000 employees in South Africa voluntary severance following its merger with SABMiller, the Business Day newspaper reported on Monday, citing an internal memo. AB InBev bought nearest rival SABMiller for 79 billion...

Cautious tone from central banks sends global stocks lower

LONDON - Global stocks fell on Thursday as investors trimmed their exposure to riskier assets after central bank minutes revealed a wary take on the economic outlook from ratesetters on both sides of the Atlantic. The European Central Bank expressed caution about removing monetary...

Alibaba not interested in acquisitions, more interested in partnerships

China's Alibaba is not interested in acquisitions this year as it is in partnerships, Alibaba Executive Chairman Jack Ma said on Thursday. "I am not interested in acquisitions. I am more interested in partnerships," Ma said at a news conference on Alibaba's Olympic sponsorship deal,...

World’s Biggest Piggy Bank Grows by $285 Million a Day

Fund has been ordered to boost stock holdings to 70% Fund returned $26 billion in second quarter on stocks rally As many investors question a global stock-market rally that’s now in its eighth year, the world’s biggest wealth...

Lloyds unveils special dividend after highest profit since crisis

Bank’s earnings boosted by sharp decline in cost of PPI mis-selling scandal Lloyds Banking Group has unveiled a £2.2bn dividend payout after more than doubling its annual pre-tax profits on the back of lower provisions for mis-selling payment protection insurance. The bank, which is now less...

Citigroup recruits father of euro bonds

Architect of the world's first euro-denominated bond becomes chairman of the Wall Street bank's London-headquartered broker-dealer By Vivek Ahuja Citigroup has recruited a 40-year capital markets veteran, and architect of the world’s first euro-denominated bond, as chairman of its European broker-dealer subsidiary. Companies House filings and...

Wiese misses out as South Africa’s Steinhoff and Shoprite scrap merger

By Tiisetso Motsoeneng and TJ Strydom JOHANNESBURG (Reuters) - South Africa's Steinhoff and grocery retailer Shoprite called off a deal to create an African shopping giant on Monday, preventing leading investor Christo Wiese from bringing more of his retail assets under one roof. Billionaire Wiese, a...

Green Bond Giant Awakened by Nigeria, Others Spending to Save Climate

Sovereign debt pool of $44.5 trillion starts going green Securities are designed to mitigate, cope with climate change Nigeria, other Governments spending to avert climate change have stirred a green bond giant inside the global sovereign debt pool worth trillions of dollars. Nigeria is expected...

Saudi’s Kingdom Holding buys $62 mln stake in ride-hailing firm Careem

Carmaker Daimler and Saudi Arabia's Kingdom Holding, a firm owned by billionaire Prince Alwaleed bin Talal, have taken part in an $150 million investment in Dubai-based ride-hailing firm Careem. Venture capital firm DCM Ventures and hedge fund Coatue Management also took park in the Uber-rival's fundraising,...

South Africa watchdog settles with Citi over currency rigging

JOHANNESBURG  - South Africa's Competition Commission has reached an agreement with Citibank N.A. for its role in a forex trading cartel, the anti-trust watchdog said on Monday. The Commission said in a statement Citi would pay a fine of 69.5 million rand ($5 million),...
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