NHI hammers Discovery, Aspen; Junk priced in; Rand falls; investment banks chop staff; Naspers India play
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Moody hasn’t said it, but investors already think it: South Africa’s credit is junk. That’s according to Bloomberg, which says the market is pricing in a downgrade. The risk premium has climbed since mid-July, when the government announced it would increase borrowing to support Eskom.
Monday was a hairy day on the JSE with some shares dramatically up and some dramatically down. With four of top losers of the day in the healthcare sector - including market darling Discovery - analysts say this is linked to the NHI bill and what it actually means for these stocks.
The Rand weakened to a new 11-month low as political uncertainty and a bleak economic outlook was worsened by uncertainty over the chances of a resolution to the trade standoff between Beijing and Washington, reports Reuters.
Investment bankers used to be in demand, commanding huge salaries. But, as the Financial Times of London reports, global investment banks are shedding tens of thousands of jobs as falling interest rates, weak trading volumes and the march of automation create a brutal summer for the sector. Almost 30,000 lay-offs have been announced since April at banks including HSBC, Barclays, Société Générale, Citigroup and Deutsche Bank.
Meesho, an online marketplace that is revolutionising e-commerce for Indian entrepreneurs and consumers, announced today the closing of a $125m fundraise led by Naspers. Facebook and existing investors SAIF, Sequoia, Shunwei Capital, RPS and Venture Highway also participated.
Monday was a hairy day on the JSE with some shares dramatically up and some dramatically down. With four of top losers of the day in the healthcare sector - including market darling Discovery - analysts say this is linked to the NHI bill and what it actually means for these stocks.
The Rand weakened to a new 11-month low as political uncertainty and a bleak economic outlook was worsened by uncertainty over the chances of a resolution to the trade standoff between Beijing and Washington, reports Reuters.
Investment bankers used to be in demand, commanding huge salaries. But, as the Financial Times of London reports, global investment banks are shedding tens of thousands of jobs as falling interest rates, weak trading volumes and the march of automation create a brutal summer for the sector. Almost 30,000 lay-offs have been announced since April at banks including HSBC, Barclays, Société Générale, Citigroup and Deutsche Bank.
Meesho, an online marketplace that is revolutionising e-commerce for Indian entrepreneurs and consumers, announced today the closing of a $125m fundraise led by Naspers. Facebook and existing investors SAIF, Sequoia, Shunwei Capital, RPS and Venture Highway also participated.
