Big banks target South Africa’s informal saving clubs’ cash
JOHANNESBURG, Oct 7 (Reuters) – Thandi Mkhabela’s money used to slip through her fingers. Now the 34-year-old mother of four earns interest on monthly savings has paid off debts and is planning to extend her house in a township just outside Johannesburg, without ever dealing with a bank. Mkhabela’s improved financial footing came after she […]
European business growth hurt by supply issues, pricing in Sept -PMIs
LONDON, Oct 5 (Reuters) – Business growth across Europe remained strong last month but elevated inflationary pressures put a dent in demand while ongoing supply issues constrained activity, issues which are likely to continue, a survey showed on Tuesday. Although many restrictions imposed to contain the coronavirus pandemic have now been lifted in the region, […]
Evergrande crisis inspires shrewd bottom-feeding
HONG KONG, Oct 7 (Reuters Breakingviews) – What to say to a friend whose troubles give you an opportunity? Evergrande’s (3333.HK) shares are suspended while a rival eye taking a $5 billion majority stake in the ailing developer’s property management unit, Chinese media reported. read more Now tycoon Joseph Lau has launched a $250 million buyout bid for the […]
The UK is coping with rising inflation!
Public borrowing in the UK was almost a fifth lower last month than a year earlier when the economy was still recovering from the coronavirus pandemic, but growing inflation pushed loan prices higher. Borrowing – the difference between spending and tax receipts – was £22.8 billion in June, down £5.5 billion from the previous year, […]
The Facebook outage is dry run for worse web crashes
NEW YORK, Oct 4 (Reuters Breakingviews) – Mark Zuckerberg can’t catch a break lately. The Facebook (FB.O) boss wants to turn the two-dimensional internet into a metaverse where “instead of just viewing content, you are in it,” according to an interview with the Verge. But hot on the heels of an exposé of some uncomfortable internal documents provided by […]
In a plane crash over Milan, a Romanian billionaire and his family ended up dead
A small private plane crashed into a vacant two-story office building in San Donato Milanese on Sunday, October 3, 2021. Dan Petrescu, 68, a Romanian billionaire, was on board with his wife Regina, 65, their son Dan Stefan, 30, and five other people died. The single-engine Pilatus PC-12, bound for Sardinia, crashed shortly after takeoff […]
Stocks Rebound, Treasuries Fall Ahead of Jobs Report
Stocks rebounded from Monday’s rout and Treasuries fell as investors assessed the state of the economy before a key payroll report Friday. An ISM reading on the U.S. services sector activity came in better than expected Tuesday, likely keeping the Fed on track to announce a pullback in bond-buying. The gains helped ease concerns of […]
Interruption of Facebook, Whatsapp, and Instagram; Zuckerberg loses $6 billion in 6 hours!
On October 4th, billions of people around the world had trouble logging into their Facebook accounts. Several users took to Twitter to see if the problem was with their network or if the Facebook-owned apps had truly gone down. It took nearly 6 hours for access to its social media platforms, including Instagram and WhatsApp, […]
Banks, energy shares lift FTSE 100; Greggs top mid-cap gainer
Oct 5 (Reuters) – London’s FTSE 100 rose on Tuesday, buoyed by heavyweight banks on higher yields, while fast-food chain Greggs jumped after raising its profit forecast. The blue-chip FTSE 100 index (.FTSE) gained 0.6% by 0800 GMT after three straight sessions of losses, with HSBC Holdings (HSBA.L), Royal Dutch Shell (RDSa.L), BP (BP.L), and Lloyds Group (LLOY.L) among the top boosts. The […]
Goldman shrewdly grabs McKinsey cast-off
Few people can claim to have worked at both Goldman Sachs and McKinsey. Kevin Sneader joined the investment bank just six months after leaving the CEO of a management consulting firm. Installing someone who agreed to a $573 million opioid settlement and dealt with a slew of other issues may seem unusual for a bank […]
