Safaricom retained its position as Kenya’s largest company by market value despite post-election violence early last year, soaring inflation, vicious competition and fluctuating fuel prices. But the super normal growth that has defined the company for the last nine years slowed down, with its profits falling by 11 per cent from last year’s levels to [...]
By Laura Cochrane and Garth Theunissen May 19 (Bloomberg) — South Africa began selling a $1.5 billion Eurobond, $500 million more than initially planned, according to three investors approached by bankers managing the deal. The 10-year debt will yield 375 basis points above U.S. Treasuries of similar maturity, said the investors, who declined to be [...]
Credit card issuers said the tougher rules could backfire. Lawmakers in the US Senate have voted overwhelmingly in favour of a bill that puts new restrictions on the credit card industry. The bill would curb sudden interest rate increases and hidden fees. The industry has warned that the measure could backfire, leading banks to issue [...]
DETROIT (AP) — General Motors Corp. says it likely would sell most of its assets to a new company and liquidate the rest if it has to seek bankruptcy protection. The company made the disclosure Thursday in a filing with the Securities and Exchange Commission. It has said bankruptcy is possible if it doesn’t get [...]