Business disrupted across southern Africa by Cyclone Idai

Business disrupted across southern Africa by Cyclone Idai

Business disrupted across southern Africa by Cyclone Idai

Business across Mozambique, Malawi and Zimbabwe has been severely disrupted by Cyclone Idai, which has left more than 1,000 dead in Mozambique alone. Deaths have reached nearly 100 in Zimbabwe and huge swathes of all three countries have been left without power, with roads washed away and all communications down. The storm has disrupted many businesses but hit the mining…

Ethiopia crash poses huge questions for Boeing

Ethiopia crash poses huge questions for Boeing

Ethiopia crash poses huge questions for Boeing

In the wake of the Ethiopian Airlines crash last week and the Lion Air crash five months ago, analysts are beginning to ask if aircraft manufacturer Boeing can survive the economic impact. Boeing’s share price has fallen by more than 10% from a week ago, when it hovered near all-time highs, wiping $25bn off its market capitalisation. It is already…

Political uncertainty continues in Nigeria

Political uncertainty continues in Nigeria

Political uncertainty continues in Nigeria

Political uncertainty continues in Nigeria as the leader of the losing opposition party has filed court papers to challenge the results of last month’s presidential election. Atiku Abubakar lodged a legal challenge to the official result on Monday, according to reports from the BBC and France 24. Muhammadu Buhari, 76, was re-elected president after a delayed poll that angered voters…

Major boost for private sector in Portuguese-speaking Africa

Major boost for private sector in Portuguese-speaking Africa

Major boost for private sector in Portuguese-speaking Africa

Risk mitigation is at the heart of a new financing deal set to open up the private sector across Mozambique and open the way for trade with Portuguese-speaking Africa. The African Development Bank (AfDB) and the governments of Mozambique and Portugal have signed a Mozambique-specific memorandum of understanding for the implementation of the Lusophone Compact.The Lusophone Compact is a financing…

Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

Many companies ‘not ready’ for most serious corporate risks: survey

A clear majority of board directors and general counsels (GCs) agree corporate risk has increased significantly in the past two to three years, and 30% fear their business is not prepared to tackle the most serious issues, according to a new report from Clyde & Co and Winmark…

VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

VW and former CEO hit with new US dieselgate lawsuit

The US regulator has launched a legal suit against VW, alleging the German car manufacturer defrauded US bond investors in the diesel emission scandal. The case also cites former CEO Marin Winterkorn and two subsidiaries – Volkswagen Group of America Finance and VW Credit. The suit by the Securities and Exchange Commission (SEC) alleges that VW raised $13bn through corporate…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…