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Gupta modus operandi: David Cameron caught up in Greensill masterclass
The collapse of Greensill Capital left many investors in serious trouble, including entire German municipalities, that invested heavily in the start-up. One of the high profile people scrambling to recover from the implosion is former UK Prime Minister David Cameron. Cameron openly lobbied for Greensill to be allowed access to Britain’s pandemic support program. In a lengthy statement, Cameron has defended his actions which echo the behaviour of state captors, operating closer to home. Cameron asserts that he did nothing wrong when he used text and email to arrange private meetings with the government officials, which lead to Greensill Capital being awarded contracts for payment management programs in the National Health System. Greensill was given access to millions of pounds in public funds. The story is all too familiar to South Africans. With mayoral elections on the horizon, Bloomberg asks if feeling ‘de
Alibaba relieved as regulatory storm ends with record fine
Alibaba CEO Jack Ma waved a red flag in the face of Chinese President Xi Jinping when he compared the nations financial markets to pawn shops, in a presentation ahead of the planned Initial Public Offering of Ant. In November regulators blocked the listing which would have been worth over $34bn according to The Wall Street Journal. The clash was part of a long-running battle between Ma and local regulators. It triggered intense scrutiny of online tech companies and e-commerce platforms, which previously enjoyed relative freedom in their operations. Regulators have seemingly made an example of Alibaba, issuing a record 18.2 billion yuan ($2.8 billion) fine for anti-competitive practices. – Melani Nathan
Is land reform a priority for black South Africans? - Biznews
8 April 2021 - A fortnight ago the Ad Hoc Committee responsible for drafting the expropriation-without-compensation (EWC) constitutional amendment bill (the Bill) claimed that a burning land hunger among South Africans was one of the key reasons why the Bill had to be pushed through the legislative process as rapidly as possible.
The controversial expropriation-without-compensation (EWC) constitutional amendment bill has been used to draw votes at every opportunity. Politicians have claimed that land ownership will equate to prosperity for black people and that expropriation without compensation is the most effective way to redress current inequalities. Proponents of the Bill say that there is a burning hunger for land among South Africans, but opinion polls suggest that citizens have more pressing concerns than land redistribution. Dr Anthea Jeffery traces opinions polled over twenty years and pinpoints what really tops
Pioneering cryptocurrency exchange moves to liquidate
South African Cryptocurrency traders have been in the spotlight recently after the collapse of Mirror Trading International. Regulators had a wake-up call and announced plans for a crackdown on cryptocurrencies. The South African Revenue Service also took note and announced that it would audit taxpayers who trade in Bitcoin and other digital currencies. The regulatory squeeze prompted local trading platforms to leave for friendlier climes, shifting their headquarters to Europe. While the industry shifts, it seems another local trader has come up short. ICE3x is one of the county’s longest-running exchanges and was the first to offer local traders the Etherium-Rand cross. The exchange has announced that it will not reopen after having suspended withdrawals of Bitcoin and Litecoin last month. First published on MyBroadband. – Melani Nathan