Standard Bank’s new man, Munro, at Liberty ready for tough decisions
Businessam Staff
August 4, 2017
David Munro, the new chief executive officer of Liberty Holdings Ltd., said he’s prepared to make tough decisions to improve the insurer’s performance after first-half profit dropped 15 percent. “We will not shirk from the necessary decisions needed to equip Liberty to do better in this difficult and highly competitive environment,” Johannesburg-based Munro said in an email […]
The oil trader known as ‘God’ is closing down his main hedge fund
Businessam StaffAugust 3, 2017
Andy Hall, the oil trader sometimes known in markets as “God,” is closing down his main hedge fund after big losses in the first half of the year, according to people with knowledge of the matter. The global crude market has “materially worsened” and prices may be stuck around $50 a barrel or below, Hall […]
Jarana: Man on mission to turn around South African Airways
Businessam StaffAugust 3, 2017
South Africa’s National Treasury confirmed the appointment of Vodacom Group Ltd. executive Vuyani Jarana as the first permanent chief executive officer of the state-owned carrier since November 2015. Jarana will take the helm at South African Airways when Vodacom releases him of his duties, the Treasury said in an emailed statement on Thursday. The debt-laden […]
Nigeria’s minister, Enelamah, elected vice-chair, Africa, World Trade Organisation ministerial conference
Businessam StaffJuly 31, 2017
Okechukwu Enelamah, Nigeria’s minister of industry, trade and investment, has been elected the vice-chairperson representing Africa, for the 11th World Trade Organisation (WTO) Ministerial Conference. Nigeria’s election was decided at the meeting of the WTO General Council on July 26th. The General Council acts on behalf of the Ministerial Conference on all WTO affairs. It […]
Okonjo-Iweala to speak at Aspen’s ‘exceptional individual’ event
Businessam StaffJuly 31, 2017
Ngozi Okonjo-Iweala, Leading Nigerian and African Economist, would deliver Aspen Institute’s fifth annual Madeline K. Albright Global Development Lecture on Wednesday, 2nd August 2017. The lecture series recognizes an exceptional individual who has contributed immensely to tackling the challenges of global development. Okonjo-Iweala served as a two time Finance Minister of Nigeria from 2003 to […]
London-based Standard Chartered Bank names Okonjo-Iweala director
Businessam StaffJuly 27, 2017
Ngozi Okonjo-Iweala, former minister of finance, has been named an independent non-executive director at Standard Chartered PLC. Standard Chartered PLC is a British multinational banking and financial services company headquartered in London, England and with presence in 70 countries. According to a statement released by the company on Thursday, her appointment is effective from November […]
The economist who wants to put refugees to work
Businessam StaffJuly 26, 2017
At the end of his first year at England’s Durham University, 19-year-old Alexander Betts faced, as he puts it, “a long summer with lots of free time and not much money.” To pass the hours, he took a gig volunteering at a reception centre for refugees in the Netherlands. “What immediately struck me was that […]
Michael Kors buys luxury shoemaker Jimmy Choo for $1.2 billion
Businessam StaffJuly 25, 2017
U.S. retailer Michael Kors has agreed to buy luxury shoemaker Jimmy Choo for $1.2 billion, snapping up a British company whose towering stilettos have been made famous by celebrity customers from Princess Diana to Kendall Jenner. The move comes two months after rival handbag maker Coach struck a deal to buy quirky fashion brand Kate […]
The man who got Americans to eat trash fish is now a billionaire
Businessam StaffJuly 20, 2017
Chuck Bundrant was a college freshman with $80 in his pocket when he drove halfway across the country to Seattle to earn a few bucks fishing. The year was 1961. He hasn’t stopped fishing since. And today, Bundrant, the founder and majority owner of Trident Seafoods, is worth at least $1.1 billion, according to the […]
UK ‘now less appealing’ to rich Chinese
Businessam StaffJuly 18, 2017
The UK has slipped down the list of preferred destinations for Chinese millionaires considering moving overseas, a report suggests. While the US remains the favourite place to settle, Canada now ranks second pushing Britain into the third spot. The survey found around half of those millionaires quizzed were mulling a move abroad. Pollution, education and […]