The Editorial Team

Transition Pathway Initiative: State of Transition Summit 2021

This is the transition decade, and companies are starting to detail their transition plans whilst investors are committing to net-zero targets. Ahead of the major UN climate conference, COP26 Summit to be held in Glasgow, please join the Transition Pathway Initiative (TPI) for the fourth ‘Annual State of the Transition Summit’ to hear what progress has or has not been made. During this webinar we will bring leading global investors together for an honest dialogue…

Oil Rises After Suez Canal Blockage, Strong European Data

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LAGOS (Capital Markets in Africa) — Oil rebounded, following a sell-off on Tuesday, as investors assessed the impact of a blockage in the Suez Canal and European manufacturing data beat expectations. Futures in New York added as much as 3.4% after a ship ran aground, giving the market a reprieve after prices sank to the lowest level since early February. Despite efforts to move the vessel, it could block the route for days, according to people…

Could We Have Seen S&P’s Historic Rebound Coming? – John Authers

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LAGOS (Capital Markets in Africa) – A year ago, when the index began its 70% climb, no one could possibly have concluded that the worst of the pandemic was over. What a Long, Strange Trip It’s Been Congratulations: We have just finished the best 12 months in the history of the S&P 500. It was exactly a year ago that the world’s most-followed index hit bottom after the onset of the Covid-19 pandemic, and it…

U.K. Eyes Property Taxes, Business Reporting in New Rollout

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LONDON (Capital Markets in Africa) — The U.K is calling for new business tax reporting requirements and changes to how rental properties are taxed among dozens of new proposals announced on Tuesday. The proposals, through a series of consultations and policy papers released during the government’s so-called tax day, comes more than two weeks after Chancellor of the Exchequer Rishi Sunak announced plans to raise corporate taxes as part of the government’s spring budget. Among the new…

Amazon to Sell Deliveroo Stake of Up to $148 Million in IPO

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LAGOS (Capital Markets in Africa) — Amazon.com Inc. could raise as much as 107 million pounds ($148 million) by selling some of its stake in Deliveroo Holdings Plc in the food-delivery startup’s London initial public offering. Amazon will own 11.5% of Deliveroo following its listing, down from the 15.8% it holds now, according to the prospectus for the sale. That implies the retailer could sell as many as 23.3 million shares, which at 4.60 pounds…

Sunak Declares Global Deal on Corporate Taxation Is Within Reach

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LONDON (Capital Markets in Africa) — An international deal to agree on new rules on corporate taxation is within reach, U.K. Chancellor of the Exchequer Rishi Sunak said, offering the prospect of fresh clarity for businesses operating digitally across borders. “Digitalization has brought enormous benefits to consumers and businesses, but it’s also highlighted that the current international tax framework just isn’t fit for purpose,” Sunak told a Bloomberg event on Tuesday alongside his Italian counterpart, Daniele…

Astra’s Pain Grows as U.S. Questions Beleaguered Vaccine

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LONDON (Capital Markets in Africa) — After enduring months of public criticism, AstraZeneca Plcfinally caught a moment of reprieve for its Covid-19 vaccine this week when U.S. trial data showed the shot to be highly effective, working well in the elderly, and raising no safety concerns. The good news lasted less than a day. A group of experts meant to work hand in hand with the drugmaker on its trial safety contacted U.S. government agencies…

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