The Editorial Team |

Casper’s Shrunken IPO Is Set to Test Appetite for 2020 Hopefuls

NEW YORK (Capital Markets in Africa) – The year’s first fallen unicorn is about to test public markets’ appetite for unprofitable start-ups, and so far it’s not looking like a positive bellwether for the class of 2020. Mattress retailer Casper Sleep Inc. is planning to cut the target price range for its Wednesday initial public offering, people familiar with the matter said, shrinking its potential market value to well below the $1.1 billion valuations it…

Buttigieg Leads in Iowa Caucuses as Delayed Results Unfold

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NEW YORK (Capital Markets in Africa) – Pete Buttigieg maintained his lead in the Iowa caucuses after the second tranche of results was released on Tuesday, cementing his status as a credible contender after an extraordinary rise from the little-known mayor of a small Indiana city to the top tier of the presidential race. With 71% of precincts reporting, Bernie Sanders was a close second with his promises to deliver Medicare for All and lead a political…

Trump Avoids Impeachment in Speech, but Pelosi Tension Is Plain

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NEW YORK (Capital Markets in Africa) – Donald Trump didn’t mention impeachment in his State of the Union address, but the partisan tension gripping the Capitol was made plain in the evening’s two enduring images. The president turned his back on Nancy Pelosi’s outstretched hand as he assumed the dais, and the House Speaker then ripped her copy of his speech in two after he concluded his remarks. The dueling displays of rancor overshadowed an address the…

Europe Stocks Gain With U.S. Futures; Bonds Fall: Markets Wrap

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LONDON (Capital Markets in Africa) – European equities turned higher with U.S. index futures and Asian shares on hopes for a breakthrough in fighting the coronavirus, and as investors digested the latest corporate earnings. Treasuries reversed earlier gains. The Stoxx Europe 600 Index rebounded alongside contracts on the three main American gauges after a string of reports on possible vaccines and treatments for the deadly Wuhan virus. Gains in tech and travel shares were supported by PMI readings that suggested the…

Congo Seeks Private Partners for New Cobalt Buying Company

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KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo is looking for private partners to help fund a government-owned company created to buy all the country’s hand-mined cobalt. The new monopoly is aimed at better regulating small-scale mining and giving Congo an influence over cobalt prices. The country produces more than 60% of the world’s cobalt, an essential ingredient in lithium-ion batteries in electric vehicles, and some 20% of the metal is hand-dug…

Brexit Creates Long-Term Uncertainty in U.K. Trademark Law

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LONDON (Capital Markets in Africa) – The U.K.’s departure from the European Union frees it from parts of the bloc’s trademark law that British courts have viewed skeptically, attorneys say. EU laws that provide guardrails for national statutes, and EU court precedents that for decades have created the binding case law guiding trademark conflicts, won’t apply in the U.K. British judges may continue to look to EU case law, but there are parts of trademark…

South Africa’s PIC Seeks Managers for Equities Elsewhere in Africa

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JOHANNESBURG(Capital Markets in Africa) – – The Public Investment Corp., which manages about $144 billion of mainly South African government worker pensions, has issued tenders seeking investment managers with expertise in equities in other parts of the continent. The PIC, Africa’s biggest fund manager, said in an advertisement that applicants should hold funds with track records of more than five years. The bulk of the PIC’s assets are in South Africa. In recent years it…

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