Zimbabwe in 2024: A year of crisis, struggle, and fragile hope
Nov 17, 2024 · 2024 was a year of turmoil and survival for Zimbabwe. With inflation soaring to 1024%, a collapsed currency, and devastating droughts, the nation faced economic collapse and human rights challenges. Amidst political chaos, including the fall of opposition leader Nelson Chamisa and the arrest of ...
FT: Musk, Thiel and the shadow of apartheid South Africa
Sep 20, 2024 · The FT’s Simon Kuper highlights the striking parallels between apartheid-era South Africa and modern-day US politics, particularly through figures like Elon Musk, Peter Thiel, and David Sacks, all of whom spent formative years in southern Africa.
China unveils major stimulus package to revive slowing economy
Sep 24, 2024 · Details of Pan’s Package: The seven-day reverse repurchase rate will be lowered to 1.5% from 1.7%RRR lowered by 0.5 percentage points, unleashing 1 trillion yuan in liquidityPBOC didn’t specify when RRR cut takes effectMLF expected to be cut by 0.3 percentage pointsMinimum down-payment ratio cut to 15% for second-home buyers, from 25%China may cut the RRR further this year by another 0.25 ...
Alphabet’s Q3 earnings surge on cloud growth and AI ... - BizNews
Oct 30, 2024 · The Other Bets division remains unprofitable, losing $1.1 billion in the quarter, but Alphabet has been working to narrow those losses. Ruth Porat, Alphabet’s former longtime CFO who famously instilled a greater spirit of fiscal discipline in the company, recently transitioned into a new role as president and chief investment officer.
Unmasking the BHI trust: South Africa's R2.9 billion ponzi scheme
Oct 9, 2024 · In this BizNews recap we look back at when South Africa’s financial world was shaken by the collapse of the BHI Trust, a Ponzi scheme that defrauded thousands of investors out of R2.9 billion.
MINI BUDGET – Finmin Enoch Godongwana’s full speech - BizNews
Oct 30, 2024 · South Africa’s minister of finance, Enoch Godongwana, delivered the Medium Term Budget Policy Statement in Parliament today, updating the State’s spending priorities over the next three years.
Banxso hit by triple blow from the FSCA, the FIC & the NPA
Oct 16, 2024 · Banxso, the online trading platform, faces a triple blow as the FSCA has provisionally withdrawn its license, the FIC has placed seven bank accounts on hold, and the NDPP has placed a preservation order on its funds amid an ongoing investigation into deep fake ads and investor losses.
The Economist: Chinese overcapacity is crushing the ... - BizNews
Sep 18, 2024 · The Economist. Fixing the problem is not easy ___STEADY_PAYWALL___. Each year China makes as much steel as the rest of the world combined. The vast scale of its output—around 1bn tonnes a year—is obscured by the fact that most of it stays in the country.
The Economist: Why Microsoft’s Excel won’t die - BizNews
Oct 16, 2024 · Microsoft Excel, the go-to tool for financial analysts and consultants, turns 40 this month. Known for its versatility in everything from pricing assets to analyzing company data, it has remained a staple despite the rise of competitors like Google Sheets.
Volkswagen to close factories, cut wages as auto crisis deepens
Oct 29, 2024 · Volkswagen faces an unprecedented crisis, planning factory closures, job cuts, and wage reductions to stabilize operations. Europe’s largest automaker proposes a 10% wage cut for around 140,000 German workers, fueling unrest.