Anglo is back, US/China trade talks gloom, Fitch's outlook downgrade consequences

[Spread Business Maverick and share the knowledge.]( [Web version here.]( [Business Maverick with Tim Cohen] Monday, 29 July 2019 “The best way to find out if you can trust somebody is to trust them.” Ernest Hemingway Story of the Day [Anglo American is back]( [By Tim Cohen]( Anglo American’s interim results announcement on July 24 promised to be a fairly prosaic affair. But two pivotal events changed that. A surprising $1-billion share buyback was announced. And then came the decision by Indian tycoon Anil Agarwal to unwind his looming financial scheme in which he bought control over 20% of the company. Agarwal made a huge fortune from the bet, but the real winner is Anglo. MERCURY FX MOVING MONEY? Need HELP with your Tax Clearance Certificate? It's WHAT WE DO...[CLICK HERE]( ON THE MARKETS Exchange Rates R/$ = 14.26 -.20% R/£ = 17.66 -0.24% R/€ = 15.88 -0.13% R/BTC = 138,427.58 +2.09% At -+5am or latest: % open to close Trading the Markets JSE All Share = 57,570.54 -0.16% Dow Jones = 27,140.98 -0.47% Brent Crude ($/bbl) = 63.30 +0.24% Gold ($/oz) = 1,418.52 +0.3% WHILE YOU WERE SLEEPING [US-China Talks to Resume But Neither Seems Eager for a Deal]( Almost three months after their trade talks broke down in acrimony, Chinese and American negotiators meet again in Shanghai this week amid tempered expectations for breakthroughs in their year-long trade war. [UK Starts No-Deal Brexit Meetings as It's Now a Real Prospect]( UK Prime Minister Boris Johnson’s high-level Brexit cabinet holds its first meeting on Monday, and will gather every day to ensure the country leaves the European Union on October 31. [Jeffrey Epstein's Wealth Boosted by Virgin Island Tax Breaks]( There are a lot of theories about the sources of Jeffrey Epstein’s wealth and how he earned his one-time reputation as a brilliant money manager. One thing that isn’t disputed is that he knew how to cut his tax bills by setting up shop in the US Virgin Islands. [Jack Ma’s $290-billion Loan Machine Is Changing Chinese Banking]( Jack Ma’s online bank is leading a quiet revolution in the way China lends to small businesses, taking aim at a credit bottleneck that has held back Asia’s largest economy for decades. In Numbers 393.3 megawatts Big tech is going solar. As of last year, Apple had installed 393.3 megawatts (MW) of solar capacity, Amazon came in second at 329.8 MW and Google landed at sixth with 142.9 MW. Fact of the Day Musician and anti-poverty activist Bob Geldof is keen for Western governments to give aid to Africa. But the world discovered this week that he’s less keen on paying taxes to those African governments himself, website Quartz reports. Geldof's African investment fund was among hundreds of companies named in the Mauritius Leaks, a trove of 200,000 files leaked from a law firm in the Indian Ocean tax haven to the International Consortium of Investigative Journalists. MERCURY FX - Sending Money OVERSEAS? Need an international account ..[CLICK HERE]( Featured Articles [Land Reform: It’s a package, not just expropriation without compensation, says presidential panel]( [Land Reform: It’s a package, not just expropriation without compensation, says presidential panel]( By Marianne Merten [Shuffling the deck chairs as the crises at Kusile and Titanic Eskom continue]( [Shuffling the deck chairs as the crises at Kusile and Titanic Eskom continue]( By Chris Yelland [Africa’s finest legal minds must unite to combat spiralling corruption]( [Africa’s finest legal minds must unite to combat spiralling corruption]( By Richard Goldstone and Paul Hoffman [Lessons from Africa: High time for SA to refine its cannabis licensing mechanism]( [Lessons from Africa: High time for SA to refine its cannabis licensing mechanism]( By Mzukisi Qobo and Wandile Sihlobo [Fitch downgrade of South Africa’s credit rating outlook could be a wake-up call for Moody’s]( [Fitch downgrade of South Africa’s credit rating outlook could be a wake-up call for Moody’s]( By Ray Mahlaka Opinionistas [Nationalisation is not the answer to the land question; land is far too valuable to be owned by the state]( A column by Sikonathi Mantshantsha [Crisis of Anglo-American democracy]( A column by Jeffrey Sachs [Big Tech squeezes into small shoes as it denies being anti-trust]( A column by Derek Abdinor Does your business make INTERNATIONAL payments? Bank-beating rates. ZERO fees...[CLICK HERE]( [FORWARD THIS EMAIL TO A FRIEND]( [Fb]( [Tweet]( [Yt] Copyright © 2019 Daily Maverick, All rights reserved. You are receiving this mail because you are awesome and on the Business Maverick subscriber list. Interested in advertising with us? [Click here to sign the pact.]( [Getting too many emails from us? Manage your preferences]( [Unsubscribe](