Tuesday, 31 January 2023
“Of all creatures that breathe and move upon the Earth, nothing is bred that is weaker than man.”
Homer
PwC estimates rolling blackouts knocked up to five percentage points off SA’s 2022 GDP growth
By Ed Stoddard
Talk about a shocker. Global accountancy and consultancy firm PwC estimates that the South African economy could have grown by close to 7% in 2022 were it not for the curse of load shedding. That means power shortages cost the economy about five percentage points in lost gross domestic product (GDP).
ON THE MARKETS
WHILE YOU WERE SLEEPING
Global stocks hold monthly gain before Fed, ECB: markets wrap
A gauge of global stocks held to a monthly gain of more than 6% amid mixed trading in Asia on Tuesday as investors positioned for interest rate hikes this week from the Federal Reserve and the European Central Bank.
UK to be the only G7 economy in recession this year, IMF says
Britain faces the bleakest two years of any major industrial nation with a recession in 2023 and the slowest growth of peers in 2024, the International Monetary Fund predicts. The UK will be the only G7 member whose economy will shrink this year, with a contraction of 0.6%.
Alibaba loses $23bn in one day in sign rally is easing off
A market-beating rally by Alibaba Group Holding, a bellwether for a recovery in Chinese consumer spending, is fuelling doubts that the long positions are starting to get too crowded.
China’s economic activity rebounds sharply after reopening
China’s manufacturing and services expanded for the first time in four months in January, as the reopening from Covid Zero continued and the Lunar New Year holiday spurred travel and spending.
IN NUMBERS
… the number of fake accounts LinkedIn blocked in the first half of 2022, up 33% on 2021. Fraudsters are luring laid-off tech workers into offering money or personal information, using phoney companies, job postings and interviews, reports The Wall Street Journal. US workers lost more than $200-million from such scams in 2021.
Something for the fans: Sotheby’s will auction off a signed Kobe Bryant Lakers jersey that could fetch up to $7-million. The late NBA star wore the jersey in 25 games during his 2007-08 MVP season. Bidding opens in February.
IN DATA
By Statista
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