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Business Maverick: Dollar Pressure Endures; Storm Delays Hong Kong: Markets WrapThe dollar remained near a more than two-year low while Asian stocks traded Wednesday with diverging moves despite a record close for U.S. equities. The morning session for Hong Kong’s equity market was canceled due to a typhoon.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: South Africa Starts Talks With Potential Buyers of State AirlineSouth Africa’s government has started talks with private entities interested in buying into the country’s insolvent national carrier, which needs at least 10 billion rand ($583 million) to resume operations.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Citi’s $900 Million ‘Clerical Error’ Is Worst Wall Street Bungle in a Long TimeEven for Citigroup Inc., it was big money. On Wednesday, loan operations staff at the New York bank wired $900 million, seemingly on behalf of Revlon Inc., to lenders of the troubled cosmetics giant controlled by billionaire Ron Perelman.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Round and round they go: Groundhog Day for TelecomsBring down the cost of data, say the people. Give us more spectrum, says industry. It’s coming, says the government. This conversation has been going around the mulberry bush since 2016 with government, its own communication ministers, the independent regulator and other vested interests completely unable to get on the same page. In the meantime, an industry report cautions the government not to slap hefty prices on the spectrum, a windfall the finance minister is already banking on.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Money Managers Bracing for Upheaval With Stocks Near RecordSome of the biggest money managers are vexed by the same paradox troubling everyone else: U.S. stocks are near an all-time high, but the world still seems to be falling apart.
Source: dailymaverick - 🏆 3. / 84 Read more »