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Business Maverick: Hong Kong People Shifted Pension Out of City, China StocksHong Kong workers stepped away from local and Chinese equities last month at levels not seen since 2016, as political tensions returned and investors chased big stock gains elsewhere.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Asia Stocks Drop With U.S. Futures; Havens Gain: Markets WrapAsian stocks and U.S. equity futures dropped, while the yen and Treasuries advanced, as optimism over policy stimulus gave way to recovery concerns caused by rising infection numbers in some locations.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Implats decides not to take option in Waterberg project as miners conserve cashImpala Platinum has decided not to exercise its option to raise its stake in a promising palladium project in the Waterberg. Palladium was all the rage a few months ago, but the Covid-19 pandemic has dramatically altered the global economic landscape and mining companies are focused on cash preservation rather than expansion.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: New SAA requires R26.7bn from taxpayers to be airborneSAA, which last turned a profit in 2011, is still expected to have a negative cash flow position over the next five years. The airline is expected to have a cumulative negative cash-flow position of R59.7bn between the financial years 2021 and 2025.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Hertz Kills Share Sale, Ending Unusual Effort to Fund BankruptcyHertz Global Holdings Inc. called off efforts to raise cash by selling potentially worthless stock after U.S. regulators questioned its highly unusual approach to paying off creditors.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Emfuleni workers held to ransom by unwanted employee benefit scheme with LibertyThe bankrupt municipality of Emfuleni has been unlawfully paying – at the cost of about 1,200 of its employees – premiums of more than R3-million a month to Liberty for unapproved risk benefit cover linked to a defunct standalone provident fund.
Source: dailymaverick - 🏆 3. / 84 Read more »