Investec's split future, EU fines banks, SA economy still limping

[Click here for the web version of this email]( [FIRST THING With John Stupart]( Friday, 17 May 2019 ““The opposite of love is not hate, it's indifference. The opposite of art is not ugliness, it's indifference. The opposite of faith is not heresy, it's indifference. And the opposite of life is not death, it's indifference.” Elie Wiesel Story of the Day [Investec results: More about the journey than the moment]( By Sasha Planting For Investec, 2018 was an epochal year. Not only did its management team hand over the reins after four decades of hands-on leadership, but the group decided to unbundle its asset management business. Recent results suggest the journey is well under way. [Advertisement]Catch & store your rain and borehole water with Rainpillow with DIY installation. [From R899 at Takealot.com]( ON THE MONEY Currencies R/$ = 14.25 0.21%▲ R/€ = 15.15 0.26%▲ R/£ = 18.30 0.29%▲ R/BTC = 124877 1.53%▲ * At +- 5am / % open to close Markets JSE All Share = 56043 -0.34▼ DJIA = 25548 0.45%▲ Brent Crude = $72.47 0.42%▲ Gold = $1295 -0.07%▼ WHILE YOU WERE SLEEPING [EU fines Barclays, Citigroup, JP Morgan, MUFG and RBS $1.2bn for FX rigging]( It took place a long time ago, but its still despicable. Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland were fined a combined 1.07-billion euros ($1.2-billion) by the European Union on Thursday for rigging the multi-trillion dollar foreign exchange market. [These Are the Worst-Case Scenarios for China in the Trade War]( What's the worst that could happen? This is now the question regarding the US/China trade war. China’s economic growth could tumble, debt surge and foreign companies flee in a deepening trade war, economists warn as a week of escalating tensions forces them to ponder worst-case scenarios. [Tesla Fires Sound Alarms About Electric-Car Battery Safety]( Its kinda unfair. Electric vehicles are less prone to catch fire than gas guzzlers. But recent blazes involving Tesla Inc and NIO Inc cars in Greater China threaten to change consumer perceptions, prompting the industry to take steps to alleviate concerns for potential customers. [Friday, May 17: Five Things You Need to Know to Start Your Day]( The Trump administration’s Huawei ban opens a new front with China. US equities extended their rally for a third day, with Asia stocks poised to follow. Here are some of the things people in markets are talking about today. In an age where it’s difficult to tell the difference between real politics and fake news, quality independent journalism is more important than ever. Daily Maverick has become renowned as a news source that you can trust because our journalists tirelessly research and investigate the stories we publish. [Click here to sign up to become a Maverick Insider and help us Defend Truth.]( In Numbers 44x This Monet painting called "Haystacks" was sold at auction on Tuesday night for a record price for an Impressionist work of art. It was well reported that it was sold for $110.7-million. Less well known however is that this this price was a 44x increase from its last sale price in 1986, just 22 years ago. Fact of the Day The trade war is now really getting ugly. The New York Times spotted one restaurant in China that’s now charging Americans 25% more to dine. “If there is any inconvenience, please consult the US Embassy,” a sign reads. [Advertisement]Catch & store your rain and borehole water with Rainpillow with DIY installation. [From R899 at Takealot.com]( Featured Articles [R1.4bn and counting: The extra cost of Transnet’s questionable interest rate swap deals]( [R1.4bn and counting: The extra cost of Transnet’s questionable interest rate swap deals]( By Jessica Bezuidenhout [Iqbal Survé’s ANC election donation offers new twists]( [Iqbal Survé’s ANC election donation offers new twists]( By Suné Payne [Ford Ranger Raptor: Top of the bakkie pecking order?]( [Ford Ranger Raptor: Top of the bakkie pecking order?]( By Deon Schoeman [South Africa’s economy may be recovering in Q2 2019, but Q1 was not a hard act to follow]( [South Africa’s economy may be recovering in Q2 2019, but Q1 was not a hard act to follow]( By Ed Stoddard and Ray Mahlaka [Index investing’s new passive-aggressive strategy]( [Index investing’s new passive-aggressive strategy]( By Ruan Jooste Opinionistas [Why company law and the King Codes can’t save corporate SA]( A column by Xolisa Phillip [Making foreign policy a bread-and-butter issue]( A column by Xhanti Payi [Bold measures are needed to solve the joblessness crisis]( A column by Kenneth Diole Weather BFN: min: 8° max: 23°, sunny CPT: min: 13° max: 20°, sunny DBN: min: 17° max: 24°, cloudy EL: min: 14° max: 24°, cloudy JHB: min: 9° max: 22°, sunny MHK: min: 8° max: 26°, sunny NLP: min: 11° max: 29°, cloudy PE: min: 13° max: 21°, cloudy PMB: min: 12° max: 26°, sunny [Advertisement]Catch & store your rain and borehole water with Rainpillow with DIY installation. 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