A Brutal Brexit Is Lose-Lose for City and EU: Lionel Laurent

A Brutal Brexit Is Lose-Lose for City and EU: Lionel Laurent

LONDON (Capital Markets in Africa) – Eleven months of trade talks are not enough for London to offset the loss of its biggest export market. Nor is it enough for Paris, Frankfurt or Dublin. London wasn’t always the be-all-and-end-all for European finance. It took a deregulation drive under Margaret Thatcher in the 1980s — known as the Big Bang — and Britain’s contribution to the launch of the European single market in the 1990s to…

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Johnson Walks Huawei Tightrope as U.K. Sets Up Clash With Trump

Johnson Walks Huawei Tightrope as U.K. Sets Up Clash With Trump

NEW YORK (Capital Markets in Africa) – It’s the kind of balancing act Britain may have to get used to as the country forges its way in the world after leaving the European Union. Three days before Brexit becomes reality after years of infighting, the government in London is trying to reconcile an increasingly truculent U.S. with the demands of the domestic market in the debate over whether Huawei Technologies Co. should be involved in upgrading…

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Americans Will Inherit $764 Billion This Year, Mostly Tax-Free

Americans Will Inherit $764 Billion This Year, Mostly Tax-Free

NEW YORK (Capital Markets in Africa) – One way the rich get richer is through inheritance, and they’re barely paying taxes on it. Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published Tuesday by the Brookings Institution. By contrast, the estimated tax on work and savings is 15.8%, more than seven times higher. Many higher-income…

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FedEx’s Smith Promises 2020 Rebound Will Prove Him Right Again

FedEx’s Smith Promises 2020 Rebound Will Prove Him Right Again

NEW YORK (Capital Markets in Africa) – FedEx Corp. founder Fred Smith, nearing the end of a legendary career, says he’s going to prove himself right one more time. Best known for disrupting the parcel delivery business by introducing overnight service, Smith is now getting disrupted by e-commerce and the rise of online shopping. He’s taking a pounding from Wall Street for FedEx’s disappointing performance, while analysts praise archrival United Parcel Service Inc. for reversing a…

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Trump Lawyers Enter Final Day After Skirting Bolton Bombshell

Trump Lawyers Enter Final Day After Skirting Bolton Bombshell

NEW YORK (Capital Markets in Africa) – President Donald Trump’s lawyers begin their final day of arguments Tuesday having only barely noted the bombshell revelation from former National Security Adviser John Bolton that threatens to upset White House plans for a quick end to the Senate impeachment trial. Trump’s defense team will wrap up their case on Tuesday, followed by hours of questions from senators. Then will come what promises to be a dramatic debate and a moment of reckoning…

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The African Renewable Energy Revolution

The African Renewable Energy Revolution

Johannesburg, 28 January 2020; Africa’s abundant clean energy resources, coupled with new investments in renewable energy technologies, have spearheaded Africa into a clean energy revolution. As reported by the International Energy Agency (IEA), renewable energy is believed to constitute approximately 50% of sub-Saharan Africa’s power generation growth by 2040, consequently accelerating Africa’s novice economies. Receiving more sun than any of its continental counterparts, along with its vast geothermal, wind and wave energy capacity and progressive energy…

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Republic of Congo’s Debt May Be Much Higher Than Estimated

Republic of Congo’s Debt May Be Much Higher Than Estimated

KINSHASA (Capital Markets in Africa) – The Republic of Congo’s public debt may exceed $12.5 billion, more than a third higher than previous International Monetary Fund estimates, corruption watchdog Global Witness said. The debt could further complicate Congo’s three-year, $449 million loan program it began with the IMF in July. The Washington-based lender has already postponed its first review of the program while Congo restructures external commercial debt, an IMF spokesman said by email Friday…

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