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South African banks face the steepest earnings slump in half a century – with some posting losses – as measures to curb the coronavirus drag the economy deeper into recession.
JPMorgan has declined to comment on suggestions that it pressured First National Bank, through parent FirstRand, to shut the bank accounts of South African cryptocurrency exchanges.
JPMorgan pressured First National Bank to close the accounts of cryptocurrency exchanges in South Africa, according to two separate sources. FNB has strongly denied that external pressure forced its hand.
Shareholders at an unprecedented number of JSE Top 40 companies have, in the past year, voted against remuneration policies and/or their implementation.
FirstRand is emulating Amazon.com with a digital offering that will span everything from insurance, car licence renewals to locating plumbing services as the South African bank chases new revenue sources.
Eskom should consider selling two coal-fired plants that rank among the world’s biggest to repair the state-owned utility’s finances, according to the head of South Africa’s biggest bank by market value.
South African business confidence climbed to the highest since the start of 2015 in the fourth quarter as the appointment of Cyril Ramaphosa as the nation’s president boosts prospects for industry-friendly
Eye-watering returns, surging prices and market capitalisations to rival some of the world’s largest companies make cryptocurrencies hard to ignore. Bitcoin, the original and arguably most well known cryptocurrency
A finding by the South African antitrust regulator that more than a dozen local and international banks colluded to rig foreign-currency trades will bolster government accusations that the nation’s biggest lenders