Flash Briefing: Insurers pay up for Steinhoff directors in balance sheet fraud; Old Mutual; Northam Platinum; China risk
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* Steinhoff said on Tuesday it has reached an agreement with certain insurance companies underwriting the group’s directors and officers insurance policy to contribute up to 78.1 million euros ($93 million) to help settle claims.
* Old Mutual returned to paying dividends on Tuesday after reporting an annual loss but said a plan to invest in products and digital services would see it become the most valuable in the industry.
* Northam Platinum said on Tuesday that it would buy back all preference shares from its Black economic empowerment vehicle, Zambezi Platinum, four years ahead of its 10-year maturation date.
* China faces the threat of foreign outflows from the second half of the year as rising borrowing costs in the U.S. drives investors out of emerging markets, according to a former adviser to China’s central bank. Learn more about your ad choices. Visit megaphone.fm/adchoices
* Old Mutual returned to paying dividends on Tuesday after reporting an annual loss but said a plan to invest in products and digital services would see it become the most valuable in the industry.
* Northam Platinum said on Tuesday that it would buy back all preference shares from its Black economic empowerment vehicle, Zambezi Platinum, four years ahead of its 10-year maturation date.
* China faces the threat of foreign outflows from the second half of the year as rising borrowing costs in the U.S. drives investors out of emerging markets, according to a former adviser to China’s central bank. Learn more about your ad choices. Visit megaphone.fm/adchoices
