Sibanye-Stillwater not budging on Lonmin deal, More US tech companies cut off Huawei, Africa keen on crypto

[Click here for the web version of this email]( [FIRST THING With John Stupart]( Wednesday, 22 May 2019 "If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring." George Soros Story of the Day [Froneman draws a line in the sand on Lonmin]( By Ed Stoddard Sibanye-Stillwater is in the final stretch of its bid to acquire troubled platinum producer Lonmin. There has been speculation that some shareholders may now hold out for a better deal because of changing market conditions. Sibanye CEO Neal Froneman outlines why he is not budging. ON THE MONEY Currencies R/$ = 14.39 -0.08%▼ R/€ = 16.07 -0.01%▼ R/£ = 18.33 +0.20%▲ R/BTC = 120872 -0.18%▼ * At +- 5am / % open to close Markets JSE All Share = 55523 -0.17▼ DJIA = 25877 +0.77%▲ Brent Crude = $71.84 -0.57▼ Gold = $1276 -0.06%▼ WHILE YOU WERE SLEEPING [Africa’s appetite for cryptocurrencies surges]( The price of bitcoin soared to an all-time high of $20,000 in December 2017 and collapsed to $3,400 a month later, prompting speculation that cryptocurrencies had imploded in the fizz of their own hype and unfulfilled promises. Since then, however, the price has held steady and even begun to tick upwards. In South Africa, and on the continent, there have been several recent crypto developments, suggesting the market here is beginning to tingle with life. [SA’s push into Poland’s land of promise and prosperity]( Poland is quite the flirt. It has attracted a number of JSE listed companies to its shores over the years. And as long as the SA economy remains dim and exchange controls are kept intact, industry players say that their home country will continue to push its companies into the arms of foreign suitors. And Poland does hold promise. It has increased its GDP per capita by almost 150% since 1989, more than any other European country. [Top US tech companies begin to cut off vital Huawei supplies]( The impact of the Trump administration’s threats to choke Huawei Technologies Co reverberated across the global supply chain on Monday, hitting some of the biggest component-makers. [Hybrid CDOs Are cheapest thing in the entire globe]( The reincarnated version of collateralised debt obligations - the catalyst for the global financial crisis - offers investors some of the best relative-value plays in fixed-income. 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 3,2% The Organisation for Economic Co-operation and Development has lowered its growth forecast for the global economy this year to 3.2% from 3.3% previously. It marked a slowdown from the 3.5% expansion in 2018. The OECD has warned that uncertainty about the extent and duration of the trade disputes between the US and its trading partners is holding back global business investment, and harming longer-term growth prospects. Fact of the Day The Africa Continental Free Trade Area (AfCFTA) is set to launch on 30 May. If every African country joins, it’s expected to be one of the world’s largest single markets, accounting for $4-trillion in spending and investment across the 54 countries. AfCFTA will give entrepreneurs access to a larger market across the continent. It's envisioned that the free trade area will lead to increased competition, innovation and prosperity for Africa’s people in the long term. Featured Articles [Stuart Baxter announces preliminary Afcon squad for ‘group of death’ games]( [Stuart Baxter announces preliminary Afcon squad for ‘group of death’ games]( By Yanga Sibembe [Beyond politics: options for an AU-UN partnership that delivers]( [Beyond politics: options for an AU-UN partnership that delivers]( By ISS Today [One door of learning has opened, but the others are still firmly shut]( [One door of learning has opened, but the others are still firmly shut]( By GroundUp Opinionistas [Fitness of the Public Protector to hold office is in serious question]( A column by Professor Balthazar [Mayday! 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