Business Maverick Archives - Latest News

The United African Stokvel digital investment scam has spread from South Africa to neighboring countries

Daily Maverick In direct contact with investors – invested amounts range from less than R15,000 to over R500,000 in several instances. The victims are mostly between the ages of 30 and 50, with a large number of young investors between the ages of 2 and 30 and at least two retirees. Many are afraid to … Read more

The International Monetary Fund revises its 2023 global economic growth forecast slightly upwards, including for South Africa

What difference a few months makes. In October last year, the International Monetary Fund cut its forecast for global economic growth to 2.7% from 2.9% and warned of an imminent recession. After a few weeks, he said things were looking “much darker”. Read more at The Daily Maverick: IMF’s global growth outlook worsens from ‘bleak’ … Read more

Karpowership to move forward with two power plants in South Africa

South African Environment Minister Barbara Crease rejected appeals from five environmental groups that sought to block the company from applying for approval to install a 450-megawatt gas-fired facility at the port of Richards Bay on the northeast coast, according to a ruling seen by Bloomberg. In a separate decision, it allowed Karpowership to pursue environmental … Read more

Former JPMorgan boss urged Staley to meet ‘most connected’ Epstein

Warner told Staley, “He’s one of the most connected people I know in New York.” documents Filed in Manhattan federal court on Monday. The documents showed Epstein would go on to generate more than $8 million in revenue for JPMorgan’s private investment banking business. The financier has referred the roll call of US billionaires to … Read more

Chinese Stocks Rise After Officials Point To Support: Markets Are Turning

Technology stocks in Hong Kong jumped more than 4% while mainland China stocks advanced as well, sending gains in a measure of regional stocks up about 0.7% on Tuesday. On Monday, the index of US-listed Chinese stocks posted its biggest one-day gain in nearly six months as the country’s top leaders took advantage Decisive Politburo … Read more