The world is changing fast and to keep up you need local knowledge with global context.
FirstRand shares are down around 4% this week after the company reported slower profit growth in its results on Tuesday. Yet outgoing CEO Johan Burger said that the banking group’s outlook is cautiously optimistic and that he believes its global strategy will pay off in the long-term. Why has the market retreated from FirstRand shares?
Just as South Africa’s economy finally starts to grow again a new threat is emerging: an all-out global trade war. Over the last week, after president Donald Trump’s unexpected announcement of steep tariffs on steel and aluminium, we’ve have seen escalating rhetoric from Europe and America, with threats of new tariffs.