Toyota sells all shares in Tesla as their tie-up ends
Businessam Staff
June 3, 2017
Toyota Motor Corp said on Saturday it had sold all shares in Tesla Inc by the end of 2016, having cancelled its tie-up with the U.S. luxury automaker to jointly develop electric vehicles. Japan’s biggest automaker had bought around a 3 percent stake in the Palo Alto-based automaker for $50 million. Toyota spokesman Ryo Sakai […]
World stocks set to end the week at all-time highs
Businessam StaffJune 2, 2017
World stocks hit record highs, having gained 11 percent so far this year, and the dollar recovered more ground on Friday as upbeat U.S. economic data allayed concerns over growth ahead of payrolls figures due out later in the day. Robust U.S. jobs numbers should cement expectations of a Federal Reserve interest rate hike at […]
Billionaire Leviev adds Zambia emeralds to diamond portfolio
Businessam StaffJune 1, 2017
Billionaire Lev Leviev, who made his fortune undercutting De Beers’ former diamond monopoly, has bought half of one of Africa’s biggest emerald mines. Leviev bought into the Grizzly emerald mine in Zambia’s Copperbelt province, which borders the Democratic Republic of Congo, Kombadayedu Kapwanga, managing director Leviev’s Namibian unit, said by phone. The operation has been renamed […]
Carlyle’s $700 million Africa fund is eyeing two deals in Egypt
Businessam StaffJune 1, 2017
Carlyle Group LP, one of the world’s largest private equity firms, sees two buying opportunities in Egypt this year after a commodity rout depressed prices in the region. The Washington, D.C.-based investor’s $700 million sub-Saharan Africa Fund will spend between $30 million and $100 million on each, making the fund about 80 percent invested, managing director Eric […]
Barclays reaches target on Africa stake as it boosts sale
Businessam StaffJune 1, 2017
Barclays Plc reached a long-term target for shrinking its stake in its African unit earlier than expected as the bank boosted the size of a share sale by more than 50 percent. The London-based lender is selling 285.7 million shares of Barclays Africa Group Ltd., equal to a 33.7 percent stake, at 132 rand each, it said […]
Barclays gets approval to sell shares in African arm
Businessam StaffMay 31, 2017
Barclays has received regulatory approval for the sale of its remaining stake in its Barclays Africa Group, a unit of the business said on Wednesday, Reuters report. South Africa’s minister of finance has approved the deal, ABSA Bank said, paving the way for Barclays to begin selling its remaining 50 percent stake in Barclays Africa […]
Wall Street flat as oil offsets gains in tech, healthcare
Businessam StaffMay 31, 2017
U.S. stocks were little changed on Wednesday, with the three major indexes on track to end the month higher, as gains in healthcare and technology were outweighed by a drop in energy shares due to a steep fall in oil prices, Reuters reports. The S&P 500 and the Nasdaq Composite looked set to post their […]
UK: FTSE 100 climbs as pound slides on election jitters
Businessam StaffMay 31, 2017
UK stocks advanced on Wednesday, boosted by a slump in the pound after a new polling estimate showed Theresa May’s Conservative Party may lose its majority in the general election next week, MarketWatch reports. The FTSE 100 index added 0.2% to 7,542.94, partly recovering from its 0.3% loss on Tuesday. The index was closed Monday […]
European stocks head for fourth consecutive loss
Businessam StaffMay 31, 2017
European stocks dropped almost across the board on Tuesday, with banks leading the charge lower after a broker downgrade and concerns over a potential early election in Italy, MarketWatch reports. Renewed concerns that Greece may not make its next debt repayment also hit investor sentiment in Europe. The Stoxx Europe 600 index lost 0.4% to […]
Nigerian banking shares rally on recovery hopes
Businessam StaffMay 30, 2017
First Bank Holdings led a rally of Nigerian banking stocks on Tuesday, fuelled by hopes that Nigeria will emerge from recession soon, dealers said. First Bank Holdings, the parent company of Nigeria’s oldest commercial lender First Bank, rose 10.02 percent in early trade to 5.38 naira ($0.0171), a level last seen on Oct 10, 2015, […]