Monday, January 24
Wall Street is banking on another year of frenzied dealmaking

Wall Street is banking on another year of frenzied dealmaking

The investment-banking bonanza is only just beginning. Wall Street's five largest lenders generated a record $55 billion in revenue last year from putting together stock and bond offerings, as well as advising corporations on mergers and acquisitions. That was up 40% from 2020, aided by the slew of takeovers and initial public offerings for special purpose acquisition companies. Bankers aren't done: executives emphasized on conference calls with analysts that they expect even more dealmaking to get done this year. Goldman Sachs Group's leaders pointed to recent disruptions to corporate supply chains, saying that companies are being forced to consider more acquisitions to achieve greater scale. “Both from a backlog perspective and real-time activity, and just getting around with CE...
Trump’s top 7 asset issues, from penthouse size to club fees

Trump’s top 7 asset issues, from penthouse size to club fees

Donald Trump's attempt to avoid testifying in a civil investigation of his real estate deal has triggered a spate of early revelations by New York Attorney General Letitia James in a court filing seeking to justify her investigation. On Tuesday night, the Democrat gave the court a detailed preview of her findings to reject Trump's claim that the investigation is political theater and bolster her request for an injunction compelling the former president and two of his sons, Donald Trump Jr. and Ivanka Trump, to testify and deliver documents. leticia james The filing, in Manhattan state court, does not accuse Trump of breaking any laws or suggest criminal charges will be filed. But the evidence shows "significant" examples of "fraudulent or misleading" valuations that helped Trump g...
How Covid gave African countries a chance to improve public health

How Covid gave African countries a chance to improve public health

The Covid-19 pandemic has put Africa's public health systems to the test. He exposed weaknesses, gaps and inequalities, but also some possible solutions. The challenges presented by the pandemic are an opportunity for African health systems to overcome their current limitations. Many have been pushed to develop innovative approaches. Countries rapidly expanded diagnostic and genomics capacity and increased use of electronic health records. Nations and sectors (public and private) pooled resources in response to the logistical challenges of delivering an adult vaccination program on pace. Scientific capacity across the continent, though limited, came together in effective partnerships. These experiences, lessons and solutions, if supported by long-term political leadership and fi...
Global inflation ends the era of ever-cheaper clean energy

Global inflation ends the era of ever-cheaper clean energy

The era of ever-cheaper clean energy is over, sending a new jolt of uncertainty to global energy markets hit by one supply crisis after another. Relentless price declines over the past decade have made renewables the cheapest source of electricity in much of the world. However, last year, solar panel prices increased by more than 50%. Wind turbines are up 13% and battery prices are rising for the first time in history. With pandemic-induced supply delays ensnaring everything from cars to salads, green energy price increases may not come as a surprise. But shipping delays and commodity shortages come at a particularly vulnerable time for wind and solar power. After years of breakneck advances in technology and manufacturing, there are fewer opportunities left to cut costs without...
It is not necessary to destroy the environment to extract the metals needed for renewable energy

It is not necessary to destroy the environment to extract the metals needed for renewable energy

The use of renewable energy systems, such as solar panels, wind turbines, electric cars, and hydrogen fuel cells, will minimize greenhouse gas emissions and reduce global warming. But the use of these systems has to increase, and they require a lot of metal. The world Bank estimates that around three billion tons of metals such as graphite, lithium and cobalt will be needed by 2050 to supply enough systems to keep global temperature rise below 2 C, a goal of the 2016 Paris Climate Agreement. By comparison, only about a billion tonnes of metals would be needed by 2050 to meet current use of renewable energy systems. As Canada has abundant resources of most metals needed, can you become a world leader in the supply of materials needed for renewable energy systems? I could, but the i...
The 10 Most Deadly Jobs for 2022

The 10 Most Deadly Jobs for 2022

Daniele RUSSO / Shutterstock.comAlmost everyone complains about their job on occasion. But if you're a logger, miner or truck driver, you might have greater concerns than most. These are among the most dangerous jobs in America, according to the US Bureau of Labor Statistics' latest annual report on fatal occupational injuries, which reflects data from 2020. In total, there were 4,764 work-related deaths recorded in the United States that year — and that is the lowest annual number since 2013. Transportation incidents accounted for 1,778 of those work-related deaths. These were, by far, the most frequent type, comprising 37.3% of all work-related deaths, though they were down from 2,122 in 2019. Other causes for work-related deaths include falls, slips and trips; violence and other ...
Netflix plummets after forecast for new customers disappoints

Netflix plummets after forecast for new customers disappoints

Netflix Inc. expects to add just 2.5 million subscribers this quarter, a figure that falls short of Wall Street estimates and would mark the slowest start to a new year for the company in at least a decade. Shares of Netflix fell as much as 20% to $404.50 in after-hours trading, wiping out about $45 billion in market value as investors braced for the prospect that the streaming giant is entering a new slower growth phase. Walt Disney Co. and Roku Inc. also tumbled. Netflix added just 18.2 million customers in 2021, down 50% from the previous record year. He is forecasting that the slowdown will continue, at least for another quarter, and the outlook for the current period falls short of Wall Street's projection of 6.26 million new subscribers. Company executives struggled to iden...
Nasdaq 100 enters correction as tech stocks resume slide

Nasdaq 100 enters correction as tech stocks resume slide

The technology-focused Nasdaq 100 fell into a correction on Thursday, a swift reversal after touching an all-time high in November as a surge in US Treasury yields has dented the allure for high-flying growth shares. The Nasdaq 100 dropped 1.3% to close at 14,846.46, pulling it down more than 10% from its November 19 closing record. Big swings in growth stocks continued Thursday, with the tech-heavy index turning sharply lower in the final hour of trading after earlier rising as much as 2%. On Wednesday, the broader Nasdaq Composite Index fell over the threshold into correction territory. Amazon was the biggest decliner Thursday among megacap tech stocks, shedding 3% to end at its lowest level since March 2021. Yields have soared on the prospect that the Federal Reserve will deliv...
Morningstar expects SA shares to stand out

Morningstar expects SA shares to stand out

Morningstar Investment Management SA is convinced that South African companies will continue to perform well in 2022, so much so that the firm has weighted its portfolios towards local companies. MD Victoria Reuvers says 2021 was not a dull year and while the markets seemed to be doing well, there were some "landmines" that could not have been avoided. He mentions the bottom of global bond markets, the debacle surrounding China's Evergrande real estate group, the unexpected drop in Chinese tech stocks, and the effect of all this on emerging markets. “Looking at the various asset classes over the calendar year, the first point that stands out is the broad positive returns across all nine asset classes in 2021,” says Reuvers. "The second is the rotation in the ranking, highlighting t...
Our rates are not high, says Eskom

Our rates are not high, says Eskom

Comparisons put forward by Eskom to show that its rates are low compared to those of many other countries were met with skepticism on Thursday during the fourth day of public hearings by power regulator Nersa on the utility's request for a 20-year increase. 5% from April 1. Nersa panel members questioned the validity of the comparisons and the chairman, Nhlanhla Gumede, Nersa's full-time regulatory member, asked Eskom to show the composition of the rates being compared. Gumede cited the example of fuel prices being high in South Africa compared to neighboring countries due to the inclusion of various government taxes and levies. Eskom Senior Engineer Dr. Ulrich Minnaar presented representations of residential and industrial rates around the world in US cents per kilowatt hour (kWh)...