South African Reserve Bank Leaves Door Open to More Hikes
South Africa’s central bank remains concerned by the risks to the inflation outlook and may resume hiking interest rates if they materialize, said Deputy Governor Fundi Tshazibana.
Bloomberg Business
New York’s SPAC Boom Ends in a Crash for British Companies
As a British company known for its tie-up with the National Health Service, Babylon appeared destined to float on the London Stock Exchange. Instead, its founder Ali Parsa chose to cash in on a boom in the US that saw companies go public by reversing into listed cash vehicles, known as special purpose acquisition companies or “SPACs.”
Adani Power Shares Rise After GQG Buys $1.1 Billion Stake
Adani Power Ltd. shares rose after GQG Partners bought 8.1% of the firm’s total outstanding stock for about $1.1 billion through block deals, according to people familiar with the matter.
Wireless Carriers Lose Billions as Smartphone Demand Slows
The top three US wireless carriers have lost billions in revenue as smartphone sales dwindle in a reversal of the pandemic boom.
Singapore Receives Six Applications for Presidential Election
Singapore received a total of six applications for certificates of eligibility to run in the country’s presidential elections, according to a statement from the Elections Department.
Heat Stifles Parts of Europe as Tenerife Fires Force Evacuations
Temperatures are rising across the continent as wildfires destroy parts of a Spanish island and Germany issued red alerts for widespread thunder storms.
Malaysia Property Sales Jump 120%, Masking Pile of Unsold Assets
Malaysian property sales more than doubled in the first half and are poised to surpass 2019 levels, adding to signs that the industry is rebounding even as a good number of completed units remain unsold.
Hollywood Strike Funds Raise Millions From A-List Stars and Allies
As workers in Hollywood wait out the dual work stoppages that brought productions and many paychecks to a halt, they’re leaning on each other for more than emotional support at the picket lines. They’re helping each other pay the bills, too.
Ex-Bank of Canada Governor Poloz Sees Cracks in Consumer Resilience
Former Bank of Canada Governor Stephen Poloz says inflation is likely to cool faster than people are expecting, opening the door for lower interest rates.
Tesla Revamped Model 3 Mass Output in China May Start Next Month
Mass production of Tesla Inc.’s revamped Model 3 may start in China as soon as next month, people familiar with the matter said, just as the US automaker kicks off another round of price cuts on some current models.
