Oracle chairman Larry Ellison. Robert Galbraith/Reuters Oracle was sued on Wednesday by bondholders who say they suffered losses because the company chaired by billionaire Larry Ellison concealed its need to sell significant additional debt to build out its artificial intelligence infrastructure. The proposed class action was filed in a New York state court in Manhattan…
The Group of Twenty (G20) emerged from the financial turmoil that followed the collapse of the Thai currency in 1997, which rapidly spread financial instability from Thailand to the rest of Asia. At that time, the finance ministers and central bank governors convened to forge a strategy to stabilise the global economy and prevent future…
A view of Oracle’s headquarters in Redwood Shores, California. Justin Sullivan | Getty Images The apprehension investors have surrounding Oracle has spilled over from manifesting in its stock price — which has fallen nearly 50% from its all-time high on Sept. 10 — to affecting its projects. Asset management firm Blue Owl Capital reportedly pulled…
Wiocc Group CEO Chris Wood Pan-African digital infrastructure provider Wiocc Group has secured an additional US$65-million (R1.1-billion) in debt financing to support the continued expansion of its connectivity and data centre footprint across Africa. The new funding was arranged through a sustainability-linked debt facility involving the International Finance Corporation (IFC), Proparco and the Emerging Africa…
Despite official US boycott, participants agreed for shared responsibilities in dealing with the challenges of climate change and reforms in the UN with the objective of equitable global governance The first ever G20 summit on the African continent concluded on Sunday, November 23 on a note of shared responsibilities to deal with global inequality and…
Identity is one of the most under-secured and over-exploited layers in cyber security. Identity has been the backbone of enterprise IT for more than 25 years, yet it remains one of the most under-secured and over-exploited layers in cyber security. While networks, endpoints and cloud security have gone through cycles of reinvention, the identity layer…
Many developing countries, particularly in Africa, are experiencing a rapidly worsening sovereign debt crisis, according to global economic experts. Economic stability is at risk if this crisis is not addressed quickly and thoroughly, and experts are calling on G20 leaders to commit to strong actions as they prepare to meet this month in Johannesburg, South…
iOCO co-CEO Rhys Summerton. (Photograph supplied) Listed technology company iOCO is reducing its debt over time, having substantially trimmed its bank loans before pursuing acquisitions, with three potential deals already identified. For the first time in three years, iOCO reported strong operating cash flows with focused resource and capital allocation, while also reducing short- and…
Holding the line on the existing rules-based international trading system remains an essential challenge if the world is the keep a damaging tariff war at bay, a top UN trade official said on Monday. Addressing the UN Trade and Development (UNCTAD)’s 195 Member States in Geneva, Rebeca Grynspan said that 72 per cent of global…
Deputy President Paul Mashatile has pledged that South Africa’s Presidency of the Group of 20 (G20) will drive a strong Global South agenda focused on debt relief, inclusive growth, and sustainable development. Speaking at the recently held Türkiye-Africa Business and Economic Forum (TABEF) in Istanbul, Mashatile said South Africa will use its leadership of the…
