Business

  • ANC leadership agree on Zuma exit: report

    ANC leadership agree on Zuma exit: report



    The leadership of South Africa’s ruling party decided that president Jacob Zuma must leave office but didn’t set a time-frame for his exit, according to six senior party officials who spoke on condition of anonymity.

    Click here to read the full text by Bloomberg

  • How secure are South Africa’s connected homes?

    How secure are South Africa’s connected homes?



    As the Internet of Things (IoT) continues to increase in popularity globally, a recent survey was commissioned by Kaspersky Lab in South Africa, to gain an understanding on how secure connected homes are in the local region.

    Click here to read the full text by Staff Writer

  • Finance: The head European strategist at JPMorgan's $1.7 trillion asset management arm tells us the biggest issue for global markets in 2018

    Finance: The head European strategist at JPMorgan's $1.7 trillion asset management arm tells us the biggest issue for global markets in 2018



    Karen Ward

    BI PRIME: Problems could arise if central bank assumptions on inflation don't work out as expected.

    • Karen Ward, the chief market strategist for the UK and Europe at JPMorgan's $1.7 trillion asset management arm, says rising inflation is the biggest risk to global markets right now.
    • Most forecasters and policymakers see a gradual return of inflation over coming years, but problems could arise if it rises faster than is currently expected.
    • Markets are buoyant, but "thoughts will turn towards a much less risk favourable environment quite quickly" if inflation jumps quicker than forecast.


    LONDON — As the world's finance ministers and central bank officials meet at the World Economic Forum in Davos next week, there should be just one worry on their mind when it comes to markets – inflation.

    According to Karen Ward, a senior strategist at JPMorgan's $1.7 trillion asset management arm, inflation is the biggest risk facing the world's buoyant financial markets in 2018.

    Ward — who is the chief market strategist for the UK and Europe at JPMorgan Asset Management — said the return of inflation, which has been dormant around the world in the post-financial crisis years, will pose the biggest challenge to the ongoing recovery of the global economy this year.

    "That's an easy one. It's inflation," Ward said when asked what she sees as the biggest challenge to the markets right now.

    In the years since the financial crisis, inflation worldwide — particularly in developed countries — has been stuck, struggling to get off the ground. Price growth in the USA and eurozone has even dropped into negative territory at times.

    Most central banks and commentators are of the belief that core inflation is now slowly returning, and will continue to do so gradually over the coming years, allowing them to tighten the incredibly loose monetary policy that has predominated since the crisis by increasing rates and winding down their quantitative easing programmes.

    "The central banks have assumed that inflation will pick up very gradually and will all be very moderate, and therefore that they can exit these extraordinary policies in a very gradual, contained, predictable fashion. That's really what they're trying to achieve at the moment," Ward told BI.

    "They've given us this very detailed forward guidance in every region — whether its the Fed telling us what their best guess is for hiking and running off the balance sheet, or the ECB trying to be as predictable as possible [by using a communication strategy designed to telegraph policy changes far in advance of their implementation].

    "But all of this is predicated on inflation behaving itself [by rising in a gradual and steady manner].

    This, Ward says, is where problems could crop up. What happens if inflation returns quicker than expected, she asks.

    "The big debate that has existed over the past few years is whether inflation is dead or sleeping.

    "If actually, we find out that inflation was sleeping and has woken up with a bit more vigour than we perhaps anticipate, then immediately attention would turn to whether central banks are behind the curve. Will they have to act more dramatically? I think then, thoughts will turn towards a much less risk-favourable environment quite quickly."

    Ward's comments came during an interview in which she argued that lagging business investment, caused by the uncertainty over Brexit, will be the biggest challenge for the British economy in 2018.

    "One area of weakness in the UK, certainly relative to what we're seeing elsewhere, is on investment. I think clearly the uncertainty with regards to the Brexit negotiations is playing a significant role there," she said.

    Click here to read the full text by Will Martin

  • 15 questions you should be prepared to answer at your next job interview

    15 questions you should be prepared to answer at your next job interview



    If you’re preparing for a big interview in the New Year, prepping beforehand with these 15 interview questions will help you get one step closer to that dream job.

    Click here to read the full text by Staff Writer

  • Finance: Financial watchdogs are going through the cryptocurrency market with a 'fine tooth comb'

    Finance: Financial watchdogs are going through the cryptocurrency market with a 'fine tooth comb'



    jay clayton

    A statement by the SEC and CFTC emphasized the agencies would crackdown on any entity in the digital coin space that isn't compliant.

    • The SEC and CFTC released a joint statement about the cryptocurrency market Friday.
    • The statement said the two agencies would crackdown on any entity in the digital coin space that isn't compliant.
    • Michael Arrington, an adviser to blockchain startup aelf, told Business Insider the SEC is going through projects in the space with "a fine tooth comb."

    The SEC and CFTC are paying closer attention to the digital coin market.

    The Securities and Exchange Commission and Commodities Futures Trading Commission released a joint statement Friday emphasizing their commitment to take action against fraud in both cryptocurrencies and the initial coin offering market.

    Here's the full statement (emphasis ours):

    "When market participants engage in fraud under the guise of offering digital instruments – whether characterized as virtual currencies, coins, tokens, or the like – the SEC and the CFTC will look beyond form, examine the substance of the activity and prosecute violations of the federal securities and commodities laws. The Divisions of Enforcement for the SEC and CFTC will continue to address violations and bring actions to stop and prevent fraud in the offer and sale of digital instruments."

    The price of bitcoin fell close to $11,000 at 1:40 p.m. ET from nearly $11,750 when the statement was posted online.

    Michael Arrington, the head of Arrington XRP Capital, an investor in projects in the digital coin space, told Business Insider that the SEC recently reached out about one initial coin offering his firm was investing in. He said the financial watchdog is really starting to go through companies in the space with a "fine tooth comb."

    "I'm telling companies to be prepared," he said in a phone interview.

    Fears of a regulatory crackdown on the cryptocurrency market in South Korea and China sent markets into a tailspin earlier this week.

    Recently, Arrington was named an adviser to aelf, a Singapore-based blockchain company with operations in China. He said that governments in Asia are concerned about loses in the crypto space disrupting other areas of the markets, but there is a massive amount of focus on advancing blockchain tech on the continent.

    "I always focused a bit on China, where we've seen the market mature so fast," Arrington said. "There is a huge amount of enthusiasm and focus on these technologies."

    Bitcoin recouped some of the losses just before 4:00 p.m. ET and was trading up 1.9% at $11,456 a coin.

    Click here to read the full text by Frank Chaparro

  • 11 of the most anticipated cars coming to South Africa in 2018

    11 of the most anticipated cars coming to South Africa in 2018



    BusinessTech looked at 11 of the most anticipated cars coming to South Africa in 2018.

    Click here to read the full text by Staff Writer

  • Finance: Square is like 'Amazon or Google in their early days' (SQ)

    Finance: Square is like 'Amazon or Google in their early days' (SQ)



    null

    The company is rapidly expanding into new businesses and is growing its payments volume.

    • Square is set to take off, according to Nomura analyst Dan Dolev.
    • The company is rapidly expanding into new businesses and is growing its payments volume.
    • Watch the price move in real time here.

    When Wall Street compares one of Jack Dorsey's two public companies to Amazon and Google, you'd expect them to be talking about the one in the tech sector — Twitter. But on Friday, Nomura analyst Dan Dolev said that Square, Dorsey's payments company, is the one that resembles today's tech giants in their early days.

    "In 10 years, Square is likely to be a very different company helped by accelerating share gains from payment peers and relentless disruption of services like payroll and HR," Dolev said in a note to clients.

    Dolev said that Square's growth is hard to see now because of the method many Wall Street firms are using to evaluate the stock, similar to overlooked growth potential "analogous to Amazon or Google in their early days." Instead, Dolev performed his own discounted cash flow analysis, which he claims more clearly lays out the ability of Square to grow rapidly.

    Square's business involves maximizing the number of payments it processes, and the company is rapidly expanding into new areas in order to grow its payments volume. Square is starting to grow the number of high-volume large sellers it partners with and is also moving into high-margin services like payroll and small-business loans.

    Dolev thinks that these new initiatives will massively increase the number of payments Square processes by a long-term compound annual growth rate of 20%. Dolev also says that this growth will provide a 40% to 45% boost to earnings margins.

    Square was trading about 4.84% higher on Friday after Dolev's note. Dolev rates the company a buy, with a price target of $64, a 42.8% increase over the company's current price.

    Read more about how Nike is set for a major comeback in the US.


    Click here to read the full text by Seth Archer

  • This is how much the average house costs in South Africa – for first time and repeat buyers

    This is how much the average house costs in South Africa – for first time and repeat buyers



    Fourth quarter (Q4 2017) property statistics from bond originator ooba, confirm that 2017 was a very tough year for the property market.

    Click here to read the full text by Staff Writer

  • Finance: A Deloitte consultant wrote a cringeworthy pop song and sent it to his bosses — now it's being shared round the world

    Finance: A Deloitte consultant wrote a cringeworthy pop song and sent it to his bosses — now it's being shared round the world



    Rock on, dude.

    Stefan Hansen is full of "joy" after joining the global firm, and he wants everyone to know it.

    • A new hire at the global consultancy firm Deloitte recorded a bizarre song to celebrate getting the job.
    • He sent it to all his superiors, and now it's being shared (and mocked) by the company's nearly 300,000 employees round the world.
    • Deloitte workers have a bizarre history of recording songs celebrating their employer.

    When most people land their dream job their immediate reaction is to celebrate, and maybe write a note to their employer thanking them for the opportunity.

    But one new analyst at the Dusseldorf, Germany, office of global consultancy firm Deloitte decided to go one step further — by writing and recording an extraordinary song to "express my joy" and sending it to colleagues at the company.

    Stefan Hansen urged his superiors and colleagues to forward his message on to others, and it is now being shared — and mocked — by Deloitte's 263,000 employees around the world, from Dublin to Toronto.

    It really has to be heard to be believed.

    "We're searching, for a voice of our own, to make an impact that matters," Hansen, a business analyst with a focus on supply chain management, sings joyfully.

    And then, as the maracas and keyboard hit the crescendo: "Deloitte is calling, is calling, is calling out your name!"

    You can listen to the song in all its glory below:

    Here are the lyrics if you want to sing along for yourself:

    And here's the full email he sent to colleagues, which was shared on Reddit earlier on Thursday:

    "Dear Colleagues,

    Dear Superiors,

    my name is Stefan (Hansen) und I joined Deloitte Consulting in January 2018 as a Business Analyst in the Service Line Enterprise Applications / SAP with the focus on Supply Chain Management.

    I studied in M.Sc. Industrial Engineering and Management with specialization in Electrical Engineering and Information Technology at the Technical University of Darmstadt. During my master studies, I specialized in Logistics and Power Engineering. Prior to this, I gained working experiences through employments at renowned companies of the Automotive Industry (e.g. BMW AG, Audi AG, GKN Driveline).

    I'm really happy to be part of Deloitte now. To express my joy, I wrote a song for you.

    I hope you like it. If you like the song, share it with other colleagues and put me on CC to connect with as many colleagues as possible at the beginning.

    Thank you and best regards,

    Your Stefan"

    Colleagues have reacted to Hansen's song with a mixture of horror and admiration.

    "Made it to the Dublin office today, we were all embarrassed for him," one wrote on Reddit.

    "I got this email yesterday. I love how it made it all the way across the world in like 2 days. It makes me so proud of our global network!" another said — before adding that they were being sarcastic.

    Some people are being more positive about Hansen's musical talents. "As far as songs go made by an accountant it's not terrible. It's even somewhat hitting the right notes without auto-tune by the sounds of it," another Reddit user wrote. "But a seemingly serious big 4 song – my god the cringe overpowering."

    This is not the first time Deloitte employees have been overcome with an urge to express their company loyalty through song.

    In 2011, someone made a questionable Notorious B.I.G. song about the "Big Four" accounting firm, which included such choice lyrics as "

I made the change to a Deloitte guy / Packed up my bags and started to fly / And its so much fun building slides with my peeps all day 
/ Too much text: it's the Deloitte way."

    The Beatles's legendary song "Let It Be" has also been covered by Deloitte enthusiasts who wanted to get musical about their admiration for the company.

    Deloitte did not immediately respond to a request for comment.

    Click here to read the full text by Rob Price

  • Finance: A Deloitte consultant wrote a cringeworthy pop song to celebrate being hired — and it's being shared round the world

    Finance: A Deloitte consultant wrote a cringeworthy pop song to celebrate being hired — and it's being shared round the world



    Rock on, dude.

    Stefan Hansen is full of "joy" about joining the global firm, and he wants everyone to know about it.

    • A new hire at the global consultancy firm Deloitte recorded a bizarre song to celebrate getting the job.
    • He sent it to all his superiors, and now it's being shared by the company's nearly 300,000 employees round the world.
    • Deloitte workers have a bizarre history of recording songs celebrating their employer.

    When most people land their dream job their immediate reaction is to celebrate, and maybe write a note to their employer thanking them for the opportunity.

    But one new analyst at the Dusseldorf, Germany, office of global consultancy firm Deloitte decided to go one step further — by writing and recording an extraordinary song to "express my joy" and sending it to colleagues at the company.

    Stefan Hansen urged his superiors and colleagues to forward his message on to others, and it is now being shared throughout Deloitte's 263,000 employees around the world, from Dublin to Toronto.

    It really has to be heard to be believed.

    "We're searching, for a voice of our own, to make an impact that matters," Hansen, a business analyst with a focus on supply chain management, sings joyfully.

    And then, as the maracas and keyboard hit the crescendo: "Deloitte is calling, is calling, is calling out your name!"

    You can listen to the song in all its glory below:

    Here are the lyrics if you want to sing along for yourself:

    And here's the full email he sent to colleagues, which was shared on Reddit earlier on Thursday:

    "Dear Colleagues,

    Dear Superiors,

    my name is Stefan (Hansen) und I joined Deloitte Consulting in January 2018 as a Business Analyst in the Service Line Enterprise Applications / SAP with the focus on Supply Chain Management.

    I studied in M.Sc. Industrial Engineering and Management with specialization in Electrical Engineering and Information Technology at the Technical University of Darmstadt. During my master studies, I specialized in Logistics and Power Engineering. Prior to this, I gained working experiences through employments at renowned companies of the Automotive Industry (e.g. BMW AG, Audi AG, GKN Driveline).

    I'm really happy to be part of Deloitte now. To express my joy, I wrote a song for you.

    I hope you like it. If you like the song, share it with other colleagues and put me on CC to connect with as many colleagues as possible at the beginning.

    Thank you and best regards,

    Your Stefan"

    Colleagues have reacted to Hansen's song with a mixture of horror and admiration.

    "Made it to the Dublin office today, we were all embarrassed for him," one wrote on Reddit.

    "I got this email yesterday. I love how it made it all the way across the world in like 2 days. It makes me so proud of our global network!" another said — before adding that they were being sarcastic.

    Some people are being more positive about Hansen's musical talents. "As far as songs go made by an accountant it's not terrible. It's even somewhat hitting the right notes without auto-tune by the sounds of it," another Reddit user wrote. "But a seemingly serious big 4 song – my god the cringe overpowering."

    This is not the first time Deloitte employees have been overcome with an urge to express their company loyalty through song.

    In 2011, someone made a questionable Notorious B.I.G. song about the "Big Four" accounting firm, which included such choice lyrics as "

I made the change to a Deloitte guy / Packed up my bags and started to fly / And its so much fun building slides with my peeps all day 
/ Too much text: it's the Deloitte way."

    The Beatles's legendary song "Let It Be" has also been covered by Deloitte enthusiasts who wanted to get musical about their admiration for the company.

    Deloitte did not immediately respond to a request for comment.

    Click here to read the full text by Rob Price

Adblock Detected

Please consider supporting us by disabling your ad blocker