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Ekurhuleni noses ahead in city electricity race
25 May 2022 /
Antony Sguazzin and Loni Prinsloo, Bloomberg
A program to procure as much as 700 megawatts of electricity that began in 2016 is coming to fruition....
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Shein’s breakneck growth slows, testing $100bn valuation
25 May 2022 /
Bloomberg News
The online-only retailer has become a global phenomenon.
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Global crises threaten economic ‘perfect storm’: Davos update
25 May 2022 /
Bloomberg News
'We’ve had big crises in the past but coming from so many different dimensions this may be quite unique,' Standard Chartered Plc Chairman Jose Vinals said.
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Zimbabwe’s inflation is back above 100% after currency plunge
25 May 2022 /
Rene Vollgraaff, Bloomberg
Annual inflation quickened to 131.7% from 96.4% in April, ending a 10-month period in which the rate was below 100%.
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Africa
As hunger bites in Somalia, babies start to die
25 May 2022 /
Andrew Cawthorne, Bloomberg
2.8 million people have received aid. Another 3.1 million could be helped if more money came in.
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China’s Xi holds rare meeting with UN human rights official
25 May 2022 /
Bloomberg News
Beijing is willing to discuss rights issues and cooperate with all parties on the basis of mutual respect, Xi said in a video call with Bachelet.
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UK approves sale of Chelsea FC to US investor Todd Boehly
25 May 2022 /
Kitty Donaldson and David Hellier, Bloomberg
Boehly’s winning bid is backed by California-based private equity firm Clearlake Capital.
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Pfizer slashes drug prices for poorest nations, expanding access
25 May 2022 /
Drew Armstrong, Bloomberg
The initiative will start in five African countries with 23 drugs for cancer, rare illnesses, inflammatory conditions and infectious diseases.
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Fast News
Oh Snap! Social media stocks lose billions after Snapchat parent warning
25 May 2022 /
Medha Singh, Nivedita Balu and Sheila Dang
Snap shares closed at $12.79, lower than their 2017 IPO price of $17.
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Inflation is likely to stick around for years: Davos update
25 May 2022 /
Bloomberg News
Food shortages, climate change and migration risks have also been high on the agenda.
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Mediclinic doubles profit, reinstates dividend
25 May 2022 /
Promit Mukherjee, Reuters
The company announced a dividend of 3 pence per share
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Economy
Rand dips as dollar recovers
25 May 2022 /
Alexander Winning, Reuters
In early trade the rand was at R15.69 against the dollar, down around 0.3% from its previous close.
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Energy, oil, gas and uranium
Oil climbs as report shows tightening US gasoline stockpiles
25 May 2022 /
Elizabeth Low, Bloomberg
Brent for July settlement gained 0.6% to $114.26 a barrel on the ICE Futures Europe exchange.
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US futures, Asia stocks rise as rate path mulled: markets wrap
25 May 2022 /
Andreea Papuc, Bloomberg
Gold was at $1 860.33 an ounce, down 0.3%.
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Fast News
UPDATE
Gunman kills 19 children, 2 teachers at Texas elementary school
25 May 2022 /
Brad Brooks and Steve Gorman, Reuters
'When are we going to stand up to the gun lobby? – President Biden.
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Sanral unsure of corruption in adjudication of cancelled tenders valued at R17.5bn
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Sanral's R17.5bn tender debacle: One bidder considers taking legal action
25 May 2022 /
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