Daily Maverick Business - DM Listen

Business - DM Listen

We are out to prove that online news and analysis can be independent, informative, entertaining, and pay for itself without doing silly things like making readers pay for access.

That makes us a little unusual – but only in good ways.
Hourly English South Africa Business News · Business
400 Episodes
1 – 20

Pakistan pleads for flood relief after ‘cameras have gone’

Pakistan’s Foreign Minister Bilawal Bhutto Zardari urged the world to continue to help the South Asian nation recover from devastating floods ahead of a United Nations conference next month to mobilise funding. Pakistan is facing an economic crisis with reserves covering one month of imports, a dollar shortage and a…
19 Dec 2022 11PM 3 min

Yen surges on yield-curve change; Asia stocks fall: markets wrap

The yen strengthened as the Bank of Japan said it would let benchmark bond yields rise further. Asian equities headed for a fourth day of declines amid investors concern on the global inflation outlook. The BOJ kept policy rate unchanged, but increased the upper band limit on the yield target…
19 Dec 2022 11PM 2 min

US Stocks Drop as Traders Mull Rate-Hike Path: Markets Wrap

US stocks dropped as traders mulled the Federal Reserve’s path next year after central bank officials vowed to keep raising rates until they’re confident inflation has been subdued. The S&P 500 and the tech-heavy Nasdaq 100 declined. Shares of Tesla Inc. gained in anticipation of Elon Musk stepping back from…
19 Dec 2022 10AM 4 min

What Led Twitter Users Into Voting Elon Musk Out: Timeline

After less than two months at the helm of Twitter Inc., Elon Musk asked his followers whether he should keep the job, pledging to abide by the result of the poll. They said he should step down. It’s the latest episode in a tumultuous series of events that’s played out…
19 Dec 2022 10AM 10 min

Asia stocks set to fall with focus on rates path: markets wrap

Asian stocks were poised to follow Wall Street lower on Monday as the Federal Reserve’s resolve to keep raising rates and a wave of Covid in Beijing damped sentiment for riskier assets. The dollar weakened slightly against most major currencies and the yen advanced, boosted by a report that the…
18 Dec 2022 7PM 4 min

There’s never been a worse time to get sick in the UK

Hospital waiting lists are growing. Pharmacies are running out of antibiotics. Nurses have been taking industrial action for the first time in their history and over the next week ambulance drivers will join them — with strikes planned for Wednesday. The UK’s National Health Service is beginning to look sicker…
18 Dec 2022 7PM 6 min

Trump’s actions on 6 January merit insurrection charges, Schiff says

A member of the House’s 6 January panel said there’s enough evidence to charge Donald Trump with insurrection and other crimes. Representative Adam Schiff, who sparred with Trump in his role as House Intelligence Committee Chair, said the former president’s actions surrounding the 2021 attack on the Capitol by his…
18 Dec 2022 7PM 2 min

Distressed traders see bright spots in riskiest emerging market debt

Distressed investors are finding ample opportunity in the riskiest emerging debt markets, which have few major bonds maturing in the year ahead. Only a tiny portion of distressed sovereign bonds from non-defaulted emerging markets are scheduled to mature next year, according to data compiled by Bloomberg. That gives money managers…
18 Dec 2022 7PM 4 min

ECB Hikes by Half Point as Lagarde Warns of More Such Moves

The European Central Bank increased interest rates by a half-point, with President Christine Lagarde telling investors to prepare for a long-running campaign of similar moves to quell the worst inflation in the history of the euro. After successive hikes of 75 basis points, the ECB lifted the deposit rate more…
15 Dec 2022 10AM 4 min

US Sanctions Russia’s Richest Tycoon, Nornickel Chief Potanin

The US sanctioned Vladimir Potanin, Russia’s richest tycoon and the president and biggest shareholder of mining giant MMC Norilsk Nickel PJSC, but left his company untouched as it tries to maintain stability in the metals market. The action against Potanin on Thursday was part of a broader sanctions package the…
15 Dec 2022 10AM 2 min

Elon Musk’s Tesla Share Sales Approach the $40 Billion Mark

Elon Musk sold another $3.58 billion worth of Tesla Inc. shares, bringing the total amount he’s offloaded since late last year to almost $40 billion. The latest disposal of about 22 million shares this week coincided with Musk falling from the top spot on the Bloomberg Billionaires Index, a position…
15 Dec 2022 10AM 3 min

US Senate votes to ban TikTok app on government-owned phones

The US Senate voted to ban the hugely popular TikTok video-sharing app from all government-issued phones and other devices as the Biden administration considers restrictions on the Chinese-owned platform. The measure, which was approved unanimously, would have to be passed by the US House before Congress leaves for the year…
14 Dec 2022 10PM 3 min

Asian stocks fall, dollar edges up on hawkish Fed: markets wrap

Asian stocks followed US equities lower after the Federal Reserve signalled interest rates will climb higher than anticipated next year. Benchmark indexes in China, Japan, South Korea and Australia slid on Thursday. Futures contracts for the S&P 500 fluctuated after the benchmark snapped a two-day rally on Wednesday in a…
14 Dec 2022 10PM 2 min

Ghana alleges Burkina Faso paid Russian mercenaries with mine

Ghana’s president alleged the government of neighbouring Burkina Faso has given Russian mercenaries a mine as payment to help fight an insurgency in their country. Ghanaian President Nana Akufo-Addo, who is in Washington for the US-Africa Leaders Summit, raised the claims at a meeting on Wednesday with US Secretary of…
14 Dec 2022 10PM 2 min

US, Africa firms seal $15-billion of deals at Washington summit

American and African firms reached more than $15-billion in new commitments and deals at a summit hosted by President Joe Biden as the US moves to increase its commercial ties with the continent through investments rather than aid. The commitments cover sustainable energy, health systems, agribusiness, digital connectivity, infrastructure, and…
14 Dec 2022 10PM 2 min

US Stocks Rise Ahead of Fed; Short-Term Bonds Gain: Markets Wrap

US stocks advanced and short-term Treasuries gained as investors debated whether inflation had eased enough to encourage the Federal Reserve to slow monetary tightening. The S&P 500 and the tech-heavy Nasdaq 100 jumped after wavering earlier in the session. The policy-sensitive two-year Treasury yield hovered around 4.17%. The dollar slipped…
14 Dec 2022 10AM 4 min

Delegates Walk Out of Key COP15 Biodiversity Funding Talks

The most important biodiversity talks in a decade hit a significant roadblock in the early hours, as delegates from developing countries attending the COP15 gathering in Montreal walked away from talks focused on how to fund targets to protect the world’s ecosystems. The protest happened at about 1 a.m. local…
14 Dec 2022 10AM 1 min

UK energy bill support contributing to labour shortages, MPs say

The UK government’s cost-of-living support for households struggling with sky-high energy bills may be contributing to labour shortages by discouraging people from seeking work, a panel of lawmakers said. By linking the support to means-tested benefits, households could lose the entire £900 payment scheduled for next year if they increase…
13 Dec 2022 11PM 2 min

Morgan Stanley lifts China GDP forecast on reopening and easing

Morgan Stanley economists upgraded their forecast for China’s gross domestic product growth in 2023 on expectations that the rapid reopening from Covid Zero and continued steps to ease policy will boost the economy. But an analyst has criticised the sudden reopening, saying it does not make sense. The bank raised…
13 Dec 2022 11PM 5 min
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