Omar Marques | Lightrocket | Getty Images The price of ether smashed through its 2021 record on Friday after Federal Reserve Chair Jerome Powell hinted at upcoming rate cuts and investors returned to risk-on mode. The second-largest cryptocurrency surged 15% late Friday, rising as high as $4,885.00 and surpassing its November 2021 record of $4,866.01….
MTN South Africa has revised its mid-term service revenue guidance downwards as the operator faces stiffer competition in its home market, despite a positive upswing in its operations in the rest of Africa. The business “continues to navigate an environment characterised by elevated competitive intensity and ongoing pressure on consumers”, MTN Group said in its…
Steep cuts in US government funding have thrown much of the field of global health into a state of fear and uncertainty. Once a crown jewel of US foreign policy, valued at some US$12 billion a year, global health has been relegated to a corner of a restructured State Department governed by an “America First”…
Despite his austerity measures, the president’s party is expected to do well in the crucial October mid-term elections. Argentina’s libertarian president, Javier Milei, has vetoed bills aimed at increasing pensions and disability spending, amid ongoing protests against his austerity fiscal policies, which are hitting many people in their day-to-day lives. Milei’s administration announced the decision…
The Corporation for Public Broadcasting (CPB), a nonprofit that distributes federal funds to public radio and television stations in the United States, has announced it would be shutting down as the result of funding cuts under President Donald Trump. On Friday, the group issued a statement saying it had launched an “orderly wind-down of its…
WASHINGTON – A divided Federal Reserve on Wednesday voted to keep its benchmark interest rate steady, despite a barrage of criticism from President Donald Trump and dissents from two top officials. The Federal Open Market Committee, the group that sets the overnight borrowing rate, voted 9-2 to stay on hold. The federal funds rate will…
Intel CEO Lip-Bu Tan. Laure Andrillon/Reuters Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip-Bu Tan presented a blueprint for a more cost-disciplined, streamlined chip maker that would issue “no more blank cheques”. The job cuts —…
Harare — In recent years, major international donors such as the European Union (EU), the Foreign, Commonwealth & Development Office (FCDO), USAID, and other bilaterals (such as BMZ, Sida, the Netherlands among others) have significantly reduced development funding to global majority countries. These shifts are occurring in the midst of rhetorical commitments to localization and…
Restructuring forms Telkom’s broader turnaround strategy to create a more agile business. JSE-listed telecommunications firm Telkom has revealed it incurred R160 million in restructuring costs during the past financial year, as part of its efforts to streamline operations and improve long-term efficiency. This figure was disclosed in Telkom’s integrated report for the year ended 31…
The government has revealed details of its plans to cut foreign aid, with support for children’s education and women’s health in Africa facing the biggest reductions. The government said in February it would slash foreign aid spending by 40% – from 0.5% of gross national income to 0.3% – to increase defence spending to 2.5%…
