Bloomberg Johannesburg’s stock exchange plans to fine Steinhoff International Holdings NV former CEO Markus Jooste $882,000 for violating listing rules and submitting false financial statements. South Africa’s main stock exchange also barred Jooste from holding an office in a listed company for 20 years, according to a statement. The move comes almost five years after the firm’s near collapse and ...

  Bloomberg Several senior dealmakers are leaving Nomura Holdings Inc. in Asia as the investment bank reacts to a slump in fees with broader global cuts, according to people familiar with the matter. Hong Kong-based managing directors Maryann Tseng, who joined the equity capital markets team last year, and Wallace Wong in mergers and acquisitions are both departing, the people ...

  Bloomberg US consumer borrowing climbed in November by more than forecast as credit-card balances increased by the most in three months. Total credit rises $28 billion from the prior month, Federal Reserve figures showed. The median forecast in a Bloomberg survey of economists called for a $25 billion advance. The figures aren’t adjusted for inflation. Revolving credit outstanding, which ...

  Bloomberg European Central Bank Executive (ECB) Board member Isabel Schnabel said borrowing costs must be lifted much further, with inflation only just having dipped back into single digits. “Interest rates will still have to rise significantly at a steady pace to reach levels that are sufficiently restrictive to ensure a timely return of inflation to our 2 percent medium-term ...

Bloomberg UK retail stocks appear to be turning the corner in the New Year after a dismal 2022. JD Sports Fashion plc and J Sainsbury plc on Wednesday joined UK online shopping bellwether Next plc and small retailer Card Factory plc in providing a more upbeat outlook, potentially extending a surprise rally in consumer stocks. JD Sports shares jumped as ...

Bloomberg Stock investors in India are bracing for challenging weeks before the unveiling next month of the government’s federal budget as economic growth retreats from a peak and a resumption of selling by foreigners weighs on local shares. After beating most Asian and emerging market peers last year, India’s $3.4 trillion stock market is already overshadowed in 2023 as China’s ...

  Bloomberg Meta Platforms Inc. is expected to be the top-performing mega-cap internet stock this year, according to a JPMorgan survey of investors, suggesting a rebound for the Facebook parent after its worst year on record. According to the survey, 41% of respondents named Meta as the company they expect will perform the best this year, followed by Amazon.com Inc. ...

Geneva / WAM Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, headed the UAE delegation participating in a high-level international conference held in Geneva, which was organised by the Pakistani government and the United Nations. Held in the presence of Pakistani Prime Minister Shehbaz Sharif and UN Secretary-General António Guterres, the conference aimed to discuss efforts to ...

  Abu Dhabi / WAM The UAE welcomed the start of the final round of Sudan’s political process leading to a civilian-led government and expressed its wishes for the success of Sudanese parties in their aim to complete the transitional phase. The Ministry of Foreign Affairs and International Cooperation underscored the UAE’s readiness to deepen cooperation with Sudan and advance ...

  Abu Dhabi / WAM Masdar announced the signing of an agreement with the Ministry of Energy of Kyrgyz Republic to develop a pipeline of renewable projects in the country. The projects, with a total capacity of up to 1 gigawatt (GW), start with a 200-megawatt solar photovoltaic (PV) plant. The implementation agreement was signed by Ibraev Taalaibek Omukeevich, Minister ...