The world just got a while lot more complicated.
In Kabul last night, the Islamic State wreaked destruction among Afghans hoping to be airlifted to the West. A suicide bomber followed by a second blast and a group of ISIS gunmen killed more than 100 people.
Our partners at The Wall Street Journal are calling it The Kabul Massacre. ISIS is the sworn enemy of both the US and the Taliban, Afghanistan’s new rulers. US president Joe Biden has promised the perpetrators “we will hunt you down.” Watch the highlights of his response by clicking here or on the pic above.
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With Biden now showing a tougher side, the new CEO of Goldfields Limited has encouraged SA’s president to follow suit. In an interview with Business Day, Chris Griffith, the no-nonsense former boss of Anglo Platinum, has called on Cyril Ramaphosa to stop pretending July’s week of shame didn’t happen.
Other local news in the headlines is Stats SA’s announcement that the economy is 11% bigger than we’d been told following the “adoption of new methods, new data sources and a new base year”. Unfortunately (see below) the rebasing hasn’t helped SA’s relative position in Africa where it lags both Egypt and Nigeria.
On the investment front, some significant developments that caught my attention.
In its quarterlies last night US home exercise company Peleton cut prices on its equipment and warned of slower future growth, knocking the shares 6% in post-market trade. And Taiwan’s TSMC, the world’s biggest computer chip maker, is to increase prices by between 10% and 20%. Also in Asia, investors got a glimpse of what Beijing’s new “Common Prosperity” model means for bottom lines. The shares of TikTok rival Kuaishou Technology dropped 10% after its CEO warned of dire revenue implications.
Finally, on a much more serious note, after his great rival’s move from Barcelona to PSG the world’s best footballer (if you discount Lionel Messi) is also likely to be heading for a new home. The Times of London reports this morning that Manchester City is in “advanced talks” to sign Cristiano Ronaldo from cash-strapped Italian club Juventus. Although his name is still revered at his alma mater, City’s mortal enemy Manchester United, isn’t bothering the super fit 36-year old whose demand is for £500 000 a week (yes, every seven days). City’s Abu Dhabi owners are apparently prepared to pay up to secure the final years of the Portuguese superstar’s career.
