Standard Bank Group Limited (SBG or Group) increased its profit by 57% to R25.0 billion in the twelve months to 31 December 2021 (FY21), driven by a recovery in customer activity, an improvement in customer balances and real growth in our underlying business. Read more.
Breaking financial news from South Africa, Africa, and the world.
The expected rate increase by the Fed may help strengthen the US dollar. Will the USDCHF quotes continue to rise? Read more.
For mining and trading NFTs, Ethereum has been the preferred blockchain. The situation is changing quickly, however, as the high gas fees on Ethereum are forcing many participants off, making NFTs on other chains more appealing. Read more.
GE stock reversed its retreating after the company announced it was suspending operations in Russia. Will the GE stock price continue advancing? Read more.
Nedbank Group's financial results for 2021 reflect a strong recovery from a low base in 2020. Total income (HE) increased 115% to R11.7 billion in 2021, but is still 7% below 2019 levels. HE Growth was driven by significantly lower impairments, a higher net interest margin, a recovery in NIR growth, disciplined cost management and stronger financial performance from our investment in ETI. Key drivers of shareholder value creation were also positive, with net asset value per share up 11%, ROE improving to 12.5% (2020: 6.2%) and full year dividends of 1,191 cents per share at 2.02 times cover. Read more.
Amazon announced its first stock split since the dot-com boom, telling investors Wednesday that they will receive 20 shares for every share they currently own. Read more.
outh African drugmaker Aspen Pharmacare on Tuesday signed an agreement with Johnson & Johnson to package, sell and distribute the U.S. group's Covid-19 vaccine under its own brand in Africa. Read more.
McDonald's announced Tuesday it will temporarily close 850 locations in Russia, citing "the unnecessary human suffering in Ukraine." Read more.
Brazil may increase the processing of sugar cane for biofuel due to record oil prices. Will the SUGAR quotes continue to increase?
Amazon has continued to work with companies in China that have been accused of forced labor despite public warnings about their labor practices. Read more.
One of South Africa's newest banks is aiming to increase the number of its accounts to 1 million by June. Read more.
June 23, 2022
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