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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

A R193bn South African fixed-income manager plans startup fund

1st July 2022 Futuregrowth Asset Management, a South African fixed-income money manager with R193-billion of assets, is raising a fund to invest in startups with a strong developmental impact. The company aims to raise as much as 600 million rand for the Futuregrowth High Growth Development Equity Fund -- a... 

Renewable power costs rise, just not as much as fossil fuels

1st July 2022 It’s costing more these days to build and run solar farms and wind turbines, but they’re still cheaper than power plants that rely on fossil fuels. The costs of renewable plants are rising after years of declines due to soaring prices for materials, shipping and labour, according to a... 

Supreme Court curbs EPA’s climate authority in blow to Biden

30th June 2022 The US Supreme Court restricted the Environmental Protection Agency’s authority to curb greenhouse gases from power plants, siding with coal-mining companies and Republican-led states in a blow to President Joe Biden’s climate-change agenda. The 6-3 ruling interpreting the US Clean Air Act is... 

WHO Africa calls for more monkeypox diagnostics as cases rise

30th June 2022 Better African surveillance and laboratory diagnosis to detect monkeypox is needed to stop a silent spread of the virus, both the World Health Organization and the Africa Centres for Disease Control and Prevention said. “If you’re able to control the spread of monkeypox from the source,... 

Growthpoint struggles to secure diesel amid power cuts

30th June 2022 Growthpoint Properties, South Africa’s largest real estate investment trust, said its running out of diesel to operate generators at some of its buildings as the country grapples with the worst electricity shortage since 2019. In a letter to customers at one of its sites in Johannesburg the... 

Metals set for worst quarter since 2008 on global downturn angst

30th June 2022 Base metals headed for the worst quarterly slump since the global financial crisis in 2008 as China’s economy recovered only gradually and fears of a world recession intensified. The London Metal Exchange Index has tumbled 23% since the end of March, although the decline has been magnified due... 

Biggest African fund manager is key to platinum takeover battle

30th June 2022 Impala Platinum Holdings said Africa’s biggest fund manager must make a decision over what to do with its Royal Bafokeng Platinum stake, which has become central to ending an eight-month takeover battle that is hindering the companies from making future plans. South Africa’s Public Investment... 

Albemarle urges US to cut red tape to boost lithium supply chain

29th June 2022 The world’s largest lithium producer is urging the US government to cut red tape to accelerate a build-out of a domestic supply chain for materials needed for batteries, electric vehicles and cleaner technologies while cutting dependence on China. China has more than half of all capacity for... 

Eskom offers workers 7% increase after illegal protests

29th June 2022 Eskom Holdings is offering workers a 7% wage increase, after the utility lost units during illegal protests that plunged South Africa into the worst blackouts since 2019, according to people familiar with the information. 

Kganyago says half-point South Africa rate hike possible in July

29th June 2022 Traders tempered expectations for the largest South African increase in borrowing costs in almost two decades after the head of the nation’s central bank said it may consider raising interest rates by only half a percentage point in July. Annual inflation that surged above the Reserve Bank’s... 

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