The Editorial Team |

Boris Johnson Faces More Questions Over His Support for Top Aide

LONDON (Capital Markets in Africa) — Pressure continues to mount on Prime Minister Boris Johnson to fire his chief aide, Dominic Cummings, with polls showing voters think he broke lockdown rules and members of Parliament calling for him to go. Johnson will face an hour and a half of sustained questioning from the senior members of Parliament who make up the so-called Liaison Committee on Wednesday from 4 p.m. London time. The subject is his handling of…

House-Hunters Are Back in Almost Every English City But London

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LONDON (Capital Markets in Africa) — England’s house-hunters have raced back after the property industry was released from lockdown. But few of them want to live in London. In what’s likely to be a short-lived rebound, interest in buying homes over the past two weeks has surged 20% compared with the start of March, according to a report from property portal Zoopla Ltd. released Wednesday. For homes in the capital, however, demand was still 14% below the…

Quest to Offer Employers Virus Tests to Help in Return to Work

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NEW YORK (Capital Markets in Africa) — Quest Diagnostics Inc. is offering services to large employers geared at getting their employees back to work safely, including testing for the novel coronavirus, analytics to monitor symptoms and hotspots, and services like temperature monitoring, the company announced Wednesday. The Quest program joins similar ones from Laboratory Corp. of America Holdings and health providers like primary-care clinic One Medical, showing how reopening efforts have created a new way for health-care…

Dimon Sees Good Chance for a Rapid U.S. Economic Recovery

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NEW YORK (Capital Markets in Africa) — Jamie Dimon sees “pretty good odds” of a fast economic rebound starting in the third quarter thanks to the U.S. government’s stimulus programs and the strength of the consumer going into the pandemic. “You could see a fairly rapid recovery,” the JPMorgan Chase & Co. chief executive officer said Tuesday at a virtual conference hosted by Deutsche Bank AG. “The government has been pretty responsive, large companies have…

U.S. Mulls Sanctions on Chinese Officials, Firms Over Hong Kong

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NEW YORK (Capital Markets in Africa) — The U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, people familiar with the matter said, as the Trump administration weighs whether to declare the former colony has lost its autonomy from Beijing. The Treasury Department could impose controls on transactions and freeze assets of Chinese officials and businesses for implementing a new national security law that would curtail the rights…

Rewane, Akeredolu, and the Cannabis Economy [opinion]

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LAGOS (Capital Markets in Africa) — According to the Minister of Finance, Nigeria will experience a further economic recession due to the COVID-19 pandemic. It goes without saying that the economy has been adversely affected by the collapse of oil prices and demand coupled with the partial lockdown implemented to curb coronavirus spread. The economic impact of the virus worldwide is expected to far outweigh the medical impact. For example, in the US, the virus…

Why There’s a Looming Debt Crisis in Emerging Markets: QuickTake

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LAGOS (Capital Markets in Africa) — Solvency concerns in the developing world are nothing new. But as governments stare down the humanitarian and economic shocks of the coronavirus pandemic, some emerging markets with weak financial positions are at greater risk of defaulting on their debts. More than 100 nations have asked the International Monetary Fund for help, and the Institute of International Finance is coordinating an effort to offer some relief to the poorest countries….

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