The Federal Reserve announced that it would start selling its portfolio in corporate bonds, signalling the first move in unwinding emergency policies it launched in March last year to stem the panic the Covid-19 pandemic caused in financial markets. This sent gold to stabilise near 5-month highs at $1,900.
Meanwhile global equities edged higher on hopes of an economic rebound and a fresh surge in so-called ‘Meme stocks’.
Here’s a round-up of the world’s top and most interesting business headlines:
SA Business
- SA Post Office shutting down 130 branches. What now for Sassa recipients?
- R200m payday for Purple Group’s Mark Barnes?
- Eskom claims it under-recovered R8.4bn in 2020/21
US Business
- Bill Gates and Warren Buffett to build new kind of nuclear reactor in Wyoming
- The muggles take Manhatten: A sneak peek at the world’s first Harry Potter store
- Meme-stock AMC skyrockets in reality defying rally after leaning in on retail frenzy
In-depth
- Powerships: State officials confirm they met bidder and Mantashe ‘associates’ at up-market restaurant
- From towering debt to Bitcoin’s boom: Why 2021 is the year for living dangerously
- AMC skyrockets in reality-defying rally that’s feeding on itself
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