Ed joined the London Breakingviews team in 2018 as Africa columnist. Before that, he was Reuters sub-Saharan Africa bureau chief, based in Johannesburg. During two decades at Reuters, Ed has reported from three continents, with postings in London, Edinburgh, Phnom Penh, Bangkok and Johannesburg. Along the way, he has covered everything from the dotcom bubble to the death of Nelson Mandela and fall of Robert Mugabe. He holds a degree in Classics from Cambridge University.
The Canadian bullion producer offered to buy out minority shareholders in the Tanzanian miner at an 8% discount. That gives an out from an $180 bln tax dispute with the East African country. It’s a bitter pill, but looming arbitration gives shareholders reason not to swallow it.
President Edgar Lungu wants to nationalise the Indian firm’s Konkola copper mines. The hit looks manageable for owner Anil Agarwal. But falling out with a government is an eyesore, particularly if he wants investors to back a potential carve-up of Anglo American in South Africa.
The budget carrier’s costs soared due to expensive fuel and the need to pay pilots more. Boss Michael O’Leary can’t do much about that, nor the price war Ryanair has flown into. The only way to get margins back up is to sell customers even more pricier in-flight stuff.