Major International Business Headlines Brief::: 20 February 2023

[Bulls n Bears]

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Major International Business Headlines Brief::: 20 February 2023 

 


 

 


 <https://wwww.nedbank.co.zw/> 

 


 

 


 

ü  Instagram and Facebook to get paid-for verification

ü  Bus cuts: How a city's bus service was quietly cut in half

ü  Amazon calls staff back to office three days a week

ü  EDF: French energy giant posts worst-ever results

ü  Why is the UK economy lagging behind the US, Germany and others?

ü  Brexit: What can we expect from a deal on NI Protocol?

ü  US food sanitation firm fined after children worked nights

ü  YouTube CEO Susan Wojcicki steps down after nine years

ü  Germany: Flights cancelled as strikes wipe out air travel

ü  Co-op cuts best before dates from 150 fruit and veg products

ü  Transpennine: True extent of cancellations revealed

ü  Nigeria: Why Beans Farmers Should Consider Advice On New 'Planting Window'

ü  Nigeria: How Naira Crisis Is Affecting Farmers, Herders Without Bank Accounts

ü  Africa: Egypt Keen On Activating African Continental Free Trade Area - FM

ü  Kenya: Murang'a Farmers to Export Avocados

 


 <mailto:info at bulls.co.zw> 

 


 

 

Instagram and Facebook to get paid-for verification

Instagram and Facebook users will now be able to pay for a blue tick verification, parent company Meta has announced.

 

Meta Verified will cost $11.99 (£9.96) a month on web, or $14.99 for iPhone users.

 

It will be available in Australia and New Zealand this week.

 

Mark Zuckerberg, Meta chief executive, said the move will improve security and authenticity on the social media apps.

 

The move comes after Elon Musk, owner of Twitter, implemented the premium Twitter Blue subscription in November 2022.

 

Meta's paid subscription service is not yet available for businesses, but any individual can pay for verification.

 

Badges - or "blue ticks"- have been used as verification tools for high-profile accounts to signify their authenticity.

 

The subscription would give paying users a blue badge, increased visibility of their posts, protection from impersonators and easier access to customer service, Meta said in a post on their website.

 

The company told the BBC the change would not affect previously verified accounts, but noted there would be an increase in visibility for some smaller users who become verified thanks to the paid feature.

 

Allowing paying users access to a blue tick has previously caused trouble for other social media platforms.

 

Twitter's pay-for verification feature was paused last November when people started impersonating big brands and celebrities by paying for the badge.

 

Meta said Instagram and Facebook usernames will have to match a government supplied ID document to be granted verification, and users will have to have a profile picture that includes their face.

 

Other websites like Reddit, YouTube and Discord similarly use subscription-based models.

 

Meta has not yet specified when the feature will be rolled out to other countries, although Mr Zuckerberg said in a post it would be "soon".

 

In November, the company announced 11,000 job losses as a result of over-investment during the Covid-19 pandemic.

 

At the time, Mr Zuckerberg said he had predicted an increase in Meta's growth based on the rise it had over the pandemic, but that ultimately did not happen.

 

"Many people predicted this would be a permanent acceleration," he wrote, "I did too, so I made the decision to significantly increase our investments."

 

Instead he said "macroeconomic downturn" and "increased competition" caused revenue to be much lower than expected.

 

"I got this wrong, and I take responsibility for that," he said at the time.

 

 

They say imitation is the sincerest form of flattery - and while many in the tech sector were quick to criticise Elon Musk for introducing a paid tier to the social network Twitter, it turns out his peers were watching closely.

 

Times are tough for Big Tech, but times are also tough for Big Tech's customers, of course - that's you and me. Elon Musk's experiment has proved that people are still prepared to pay for an enhanced experience.

 

It's often said of enormous free-to-use digital platforms like Facebook, Instagram and TikTok that if you're not paying for the product, you are the product.

 

That means every drop of data those businesses gather about you is being used to sell you stuff in the form of ads. It's a multi-billion dollar idea and it has made a lot of firms very, very rich.

 

But people are waking up to it and voting with their feet.

 

Apple launched an optional feature which stops your online activity being tracked and guess what - it turns out if you ask people whether they mind companies watching what they do and where they go on the net, most of them choose to opt out. Meta, which owns Facebook, has complained bitterly about it.

 

Is subscription the alternative, and if so, just how much are consumers prepared to pay? It seems first Musk and now Zuckerberg are determined to find out.-bbc

 

 

 

Bus cuts: How a city's bus service was quietly cut in half

Bus networks are shrinking across Britain, but the cuts have gone much deeper in some areas than others, BBC analysis has found. In Stoke-on-Trent, services have been slashed in half in just eight years. William McLennan met some of the people who are left behind when the buses stop running.

 

Short presentational grey line

On a cold February evening, Michael Middleton pulls a thick black beanie over his ears as he walks home beside a thundering dual carriageway after a late shift packing orders in a warehouse.

 

The number 6 bus used to deliver him home - warm and dry - within about half an hour of clocking off at 22:00, but since 2019 the service into Stoke-on-Trent no longer runs after 21:15.

 

So instead, he and a colleague follow a litter-strewn path beside the A50, shouting their conversation to each other to be heard over the roar of lorries.

 

"We just try to block it out," the 61-year-old says. "We try to talk about anything to not think about it."

 

Across the city, bus services shrank by an estimated 37% in the five years to March 2022. Over an eight-year period from 2013/14, that reduction stands at 50%. In large part, the reductions have not come from the closure of entire routes. Rather, repeated timetable changes - often, passengers are told, in the name of improving "reliability" - have quietly cut services, reducing how regularly a bus arrives, or how late into the evening it runs.

 

It is an extreme example of a nationwide decline. Across Britain, the local bus network has shrunk by an estimated 14% between 2016-17 and 2021-22, BBC analysis of Department for Transport figures suggests. The total distance covered by buses each year fell by 210 million miles (338 million kilometres).

 

A line chart showing the estimated vehicle miles travelled by buses in England outside London, London, Wales and Scotland between March 2010 and March 2022. There is a downward trend for England outside London and a slow decline for the rest, with a brief sharp downturn in 2020 due to the pandemic, before moving back to a lower level than pre-pandemic for England outside London. In London the trend stays stable at about 300 million miles, in Wales it drops from 72 million to 50 million, Scotland it drops from 220 million to 179 million and in England outside London it drops from just over a billion miles to 770 million

Demand for buses, which had been gradually declining for several years, plummeted during the pandemic and has not recovered. Passenger numbers across Britain, excluding London, remain about 20% below pre-pandemic levels, according to the latest figures.

 

For the past three years, the industry has been propped up by government grants totalling more than £2bn.

 

Despite the decline, buses still account for just under half of all public transport journeys in England. People from lower-income households are both more likely to use the bus, and less likely to have access to a car, official statistics show.

 

In Stoke-on-Trent, the level of car ownership is below the national average, and in several inner-city neighbourhoods, more than 60% of households do not have use of a car.

 

"Mainly round here now, it's all minimum wage," says Michael. He worked as a miner in the 1980s - then, after the pits closed, he was a supermarket floor manager, before spending 10 years caring full-time for his wife, who had a rare neurological condition. After she died four years ago, he took the job at the warehouse. "The money they pay you, you can't afford to run a car," he says.

 

Known as the Potteries, the city is made of six towns strung together by a network of busy A-roads and a shared industrial heritage.

 

Tens of thousands of people once worked in ceramics factories, but the city has been remoulded by the 20th Century collapse of British manufacturing. In its place, logistics and distribution companies have moved into warehouses across Stoke-on-Trent - now providing about one in 10 jobs.

 

Yet for low-paid employees, travelling to work has become a logistical nightmare in itself.

 

Early one February morning, in the far north of the city, Beverley Barnett stands on the pavement next to a chicken shop, the grey ground slick with drizzle.

 

Her face is lit by the screen of her smartphone, which she swipes compulsively to check whether her bus - the 3A - will arrive on time this morning.

 

The 38-year-old has allowed nearly an hour-and-a-half to make a journey that would take less than 20 minutes by car. Even so, she is often late into work at the secondary school where she supports children with special needs. Her managers are understanding, but she still worries about the impact on her job security.

 

"They're as accommodating as they can be, but the kids will be waiting to start," she says. "I do feel like I'm letting them down."

 

Beverley on the bus

Image caption,

Beverley Barnett says her eight-mile commute often takes more than an hour and a half

When she moved back to the city 11 years ago, she chose to live close to family, rather than within walking distance of work. At that time, it was a single bus journey lasting about 40 minutes, but the direct service was cut years ago.

 

She now faces the daily stress of a touch-and-go transfer at the city centre bus station. To make matters worse, she says, the frequency of early morning services was slashed during the pandemic and not restored. Even a short delay now means she will miss her connection and face a long wait for the next bus.

 

"I'll be checking [the app] all the time, thinking 'are we going to be on time'," she says. "The bus might be only five minutes late, but it adds almost an hour to my journey."

 

Later that day, Will Lovatt arrives at the bus station on his way home from college. The 18-year-old says unreliable buses regularly cause him to miss the start of lectures, and he fears it is having a "huge impact" on his education.

 

It is a sunny February afternoon, but he will soon be heading back to his family home in Werrington, on the eastern edge of the city. He would like to spend more time with friends, but the last bus to his village leaves at 19:30.

 

"It's very restrictive," he said. "By the time you get into something you have to say 'sorry guys I have to go'."

 

Will Lovatt at the bus station in Hanley, Stoke-on-Trent

Image caption,

Will Lovatt gets the bus to college every morning, but is often late for lectures due to delays

The Campaign for Better Transport has been receiving stories like this on an almost daily basis.

 

"Even if a bus route is not completely withdrawn, just making it so infrequent that it is impractical has the same impact," says Silviya Barrett, the group's director of policy and research.

 

Improving bus services - and persuading more people to switch from cars - is a key component of attempts to reach net zero carbon emissions, and must be a priority for the government, she says.

 

And yet, the costs of bus travel have risen much faster than those for driving. While car owners have enjoyed a 5% cut in fuel duty - which had already been frozen since 2011 - bus passengers have seen fares rise by more than 80% over the past 10 years, according to analysis by the RAC Foundation.

 

"People are not going to look at the options if it's cheaper for them to drive," Ms Barrett says.

 

The buses in Stoke-on-Trent, like the majority of services in England, are run by private companies. First Bus - the biggest operator in the city - says cuts to services are a direct result of dwindling demand. Passenger numbers on its services in the city have only returned to about 80% of pre-pandemic levels.

 

"There has been a gradual decline in demand, both in the Potteries but also across the UK," says Rob Hughes, the company's director of operations.

 

Even before Covid, the industry had been hit by the decline of the High Street, rise of online shopping and comparative fall in motoring costs.

 

"The pandemic has accelerated that decline in demand," Mr Hughes says, while rising fuel costs and a nationwide driver shortage have heaped on more costs.

 

It is a "pivotal time for the industry", he says.

 

Map of England divided by local transport authority areas, it shows the percentage change in vehicle miles travelled on bus networks in each area between 2016-17 and 2021-22, most areas have seen a decline over the five year period with Hertfordshire seeing the biggest drop of 56.6%, while Blackburn saw an increase by 38%

When private operators decide to alter or end a loss-making service, they must first inform the local authority - which has the option of stepping in with funding to keep the buses running. But in Stoke-on-Trent, the council has opted not to do that in recent years. It declined to comment when asked about this.

 

Across England, about 13% of services are supported by councils, although transport experts say this number has been falling steadily as local authority budgets shrunk.

 

"Irrespective of the model used to fund bus services, provision needs to match demand," says Mr Hughes. "We obviously can't run buses without passengers."

 

On Friday, the government announced a three-month extension of the Bus Recovery Grant, which had been due to end in March. It has also extended a £2 cap on single fares, intended to encourage people on to buses.

 

The Local Government Association had warned thousands more bus routes could be lost without further support. It welcomed the three-month extension, but said the government needed a "long-term, reformed bus funding model with significant new money".

 

Before the extension was announced, Mr Hughes told the BBC that First Bus had already begun telling local authorities which services could be cut without further support.

 

The government says it is committed to improving services across the country. It asked all local authorities to work with bus operators to develop "bus service improvement plans", and has awarded £1bn in funding.

 

Stoke-on-Trent City Council will receive £31m for its plans, which, among other things, aims to reduce fares, increase the frequency of services and provide more buses in the evening.

 

The old bus station in Hanley

Image caption,

The site of the old city centre bus station - demolished in 2019 - has been earmarked for redevelopment

For Michael, change could not come soon enough. "The hours that we work, the bus services just don't suit," he says. "It doesn't serve us at all."

 

In his mining days, he never had to worry about getting to work. "The collieries put on their own work buses, so that wasn't a problem," he says. "[They] really looked after you. It was a different world."

 

He worries what impact the lack of public transport will have on the next generation.

 

"If they went into the city centre to go to the pictures or something, there's no way back," he says. "They are being cut off from society."-bbc

 

 

 

 

Amazon calls staff back to office three days a week

Amazon will require all office staff to work in-person at least three days a week, ending a policy that left remote work decisions up to team directors.

 

Boss Andy Jassy informed staff of the change on Friday, saying it would take effect on 1 May.

 

The company is joining others such as Disney and Starbucks that have tightened remote work rules this year.

 

Mr Jassy said the change would help strengthen communication, career development and corporate culture.

 

"Collaborating and inventing is easier and more effective when we're in person," he wrote in a memo shared by the firm.

 

Remote work shot up during the pandemic lockdowns in 2020. It remains far more prevalent than it was before the pandemic, but surveys suggest the practice is slowly being reversed.

 

The companies backtracking on flexible work

'I quit my job rather than go back to the office'

The share of days worked from home fell to 27% in January, from nearly 35% a year earlier, according to a monthly online survey of working arrangements and attitudes that Stanford economist Nicholas Bloom and others have been conducting since May 2020.

 

Disney's policy, announced in January, requires staff to report to the office at least four days a week as of March.

 

Starbucks mandates at least three days of in-person work, while gaming firm Activision Blizzard announced plans for a similar policy this week.

 

High profile business leaders such as Elon Musk - who ended remote work completely at Tesla and Twitter - have long made their dislike of the practice known.

 

But many staff have resisted the changes, and in some cases, employers have backtracked.

 

New York City Mayor Eric Adams recently said that the city would consider relaxing its in-office requirements as it struggles to fill vacancies.

 

Mr Jassy said that executives had had time to observe the pros and cons of different ways of working.

 

"I know that for some employees, adjusting again to a new way of working will take some time," he wrote. "But I'm very optimistic about the positive impact this will have in how we serve and invent on behalf of customers, as well as on the growth and success of our employees."-bbc

 

 

 

 

EDF: French energy giant posts worst-ever results

Energy prices may have jumped to unprecedented highs, but for France's state-controlled power company EDF 2022 was a miserable year with record annual losses of €17.9bn (£16bn).

 

A price cap on energy for French consumers hit EDF profits hard but so did the enforced closure of many of its of nuclear power stations for repairs.

 

The losses are the third biggest in French corporate history and the worst for more than 20 years.

 

EDF's debts have spiralled to €64.5bn.

 

On an underlying basis, EDF's losses came in at €4.99bn. The figure was in marked contrast to EDF's UK-based business, which made an underlying profit of £1.12bn (€1.26bn) supplying electricity and gas to five million households.

 

In France, President Emmanuel Macron's government responded to Russia's invasion of Ukraine by imposing a tariff "shield" for consumers, limiting energy companies to a 4% rise in 2022 followed by 15% in 2023, keeping inflation lower than in other European countries.

 

But it meant that EDF had to sell power to French consumers at a loss, while UK consumers paid far more for their energy. EDF has around 80% of France's electricity market.

 

French industry has not seen such poor results since 2002, when Vivendi Universal and France Telecom both posted losses above €20bn for the previous year.

 

EDF has never before reported such large losses.

 

"The 2022 results were significantly affected by the decline in our electricity output, and also by exceptional regulatory measures introduced in France in difficult market conditions," said Chief Executive Luc Remont, who said EDF's priority was now to put the company back on track. He said core earnings would be significantly higher in 2023.

 

EDF's nuclear output in France fell by 30% to its lowest since 1988 as more than half of its 56 ageing nuclear power stations went offline for repairs, which had been delayed because of the Covid-19 pandemic. France has the biggest fleet of nuclear plants in Europe.

 

The outages meant that France became a net importer of electricity for the first time in decades.

 

EDF's financial woes have various causes, but another major factor is an obligation it has to sell a quarter of its production at a fixed price to its competitors.

 

The system known as Arenh (Regulated Access to Historic Nuclear Electricity) was devised in 2010 in order to satisfy the EU, which was worried about EDF - with its massive nuclear capacity - becoming a monopoly provider.

 

It meant the French electricity market was able to open up to competition, but EDF says it has forced the company into the absurd situation of subsidising its competitors.

 

In 2022 things became "surreal" in the words of one former CEO. Because of the soaring cost of electricity on the European market, EDF's own generating capacity hit by technical problems, and with the government extending the low price guarantee to customers - EDF was having to buy in electricity at €100 a unit, and sell it to rivals at €46.

 

And many of these competitors, EDF argues, aren't real players at all but simply market traders.

 

Three former CEOs have described the system as "a poison pill" and have blamed the EU and Germany for rigging the system against France's interests.

 

Although the French state already controls 84% of EDF, the government has begun a process to fully nationalise the company. Major changes are likely, not least to Arenh.

 

President Macron has spoken of a renaissance in the nuclear industry, with plans for six new reactors to help France reach carbon neutrality by 2050, in line with EU aims.-bbc

 

 

 

 

Why is the UK economy lagging behind the US, Germany and others?

The UK economy is struggling - and people are feeling it in their pockets, as wages fail to keep up with rising prices.

 

The International Monetary Fund (IMF) predicts the UK economy will shrink this year while every other major economy will grow.

 

The Bank of England also forecasts a recession in the UK in 2023 - albeit one that is shorter and less severe than previously forecast.

 

Perhaps it's not surprising the outlook is bleak given the pandemic, the war in Ukraine, and soaring costs of both energy and food.

 

But why is the UK seemingly faring worse than other rich countries such as the US, Germany and France?

 

Is the UK really lagging behind?

Forecasts are never perfect. There are so many factors that affect economic growth - from geopolitics to the weather - that, inevitably, predictions often miss the mark. But they can point in the right direction.

 

And the existing evidence shows other countries have taken less of a hit from the huge challenges of recent years than the UK has.

 

Figures from the Organisation of Economic Cooperation and Development (OECD), which looks at how rich countries are performing, show the UK economy fell further than others in the first months of the pandemic.

 

The UK's pace of recovery was fast once the economy reopened - but not fast enough to make up the lost ground.

 

Chart showing the UK economy failing to recover as strongly as others after the pandemic

But the difference between the UK and others may not be quite as big as it appears.

 

That's because most countries measure the output of their public services, such as health and education, based on the costs - a nurse's wage, for example. In the UK they are accounted for differently, by valuing the services delivered - such as operations in hospital.

 

As a result, the UK's figures better reflect the impact of closed schools and cancelled operations during Covid, as well as disruption due to strikes.

 

The bigger picture, however, remains: the Bank of England and the IMF both expect the UK economy to shrink this year, while other G7 countries are expected to grow.

 

Chart showing projected economic growth for G7 countries, China and Russia. Only the UK is expected to see economic decline in 2023

Some observers, including pro-Brexit economist Julian Jessop, believe the IMF was overly gloomy about the UK's prospects and that the differences under discussion - a percentage point here or there - are small.

 

Nevertheless, he says, there is still definitely "something to explain" about the UK's flagging economic performance.

 

Is it all down to Brexit?

Estimates about the cost of Brexit vary - according to a report by Bloomberg it is costing the UK economy roughly £100bn a year, and the economy is 4% smaller than it might have been if the UK had stayed in the EU.

 

"The EU is a very rich part of the world," says Carl Emmerson, deputy director of the Institute for Fiscal Studies, an independent think tank. "And we've chosen, for better or worse, to make trade with that grouping of countries a lot more difficult, so it's clearly going to be something that makes it harder for the UK economy to grow."

 

What impact has Brexit had on the UK economy?

Business investment has stagnated since the referendum vote in 2016 too, he says - another "drag on growth". A Bank of England policymaker has said that Brexit hit UK investment to the tune of £29bn.

 

EU workers used to come freely to work in the UK but can no longer do so, making it hard for the hospitality, agriculture, and care sectors to find enough staff.

 

Julian Jessop is a fellow at the free market think tank the Institute of Economic Affairs and describes himself as a "Brexit optimist". He believes there are big potential gains from leaving the EU, but agrees there have been short-term economic costs.

 

"We're still in a sort of transition phase, where the negatives are dominating," he says.

 

But he says those negatives are "smaller than people have been arguing" and "more likely to be temporary, because a lot of them have to do with uncertainty and the process of adjustment".

 

What else is affecting the economy?

Energy costs

 

Russia's invasion of Ukraine sent global energy prices soaring - but the impact varies between countries.

 

The US has its own domestic sources of fossil fuels and some European countries have more alternative sources of energy, Mr Emmerson says. France, for example, has a large nuclear network, and Norway has significant hydropower.

 

"Britain is pretty exposed," he says.

 

Moreover, the way the UK prices electricity is based on the cost of gas, the most expensive form of electricity generation. That has pushed up bills across the economy and made inflation worse, Mr Jessop says.

 

Workforce shortages

 

Most economies saw their workforce shrink during the pandemic.

 

But again, the UK is an outlier, with numbers failing to bounce back after the crisis.

 

Changes in economic activity rate among leading advanced economies. The UK has seen the largest fall among G7 nations since pre-pandemic times.

Economists are still trying to work out why. It seems it is not just down to having fewer EU workers.

 

Young people have opted to study rather than work, older people have retired early, and more people are receiving long-term sickness benefits.

 

Who are the millions of Britons not working?

More 16-24-year-olds get jobs as living costs bite

There are signs the workforce is starting to grow again, which could help boost growth and tax revenues later this year.

 

Long-term problems

There are also more fundamental reasons behind the UK's weaker performance, suggests Cambridge University economist Diane Coyle.

 

While the economy has slowed since the financial crisis in 2008, the roots of the problems go back much further, she argues, with investment in decline since the 1990s.

 

That left the economy lacking the resilience to cope with the triple shocks of Covid, Brexit and the war in Ukraine.

 

"That's down to the long-term weaknesses, long-term under investment, in the private and the public sector, [and] degradation of public services and infrastructure, which are just essential if the economy is going to grow," she says.

 

For its part, the government says the UK economy is resilient.

 

Responding to figures showing that the UK narrowly avoided a recession in 2022, Chancellor Jeremy Hunt said the numbers showed "underlying resilience" - but added the country was "not out of the woods".-bbc

 

 

 

 

Brexit: What can we expect from a deal on NI Protocol?

After well over a year of talks between the UK and the EU it appears that a deal on the Northern Ireland Protocol is finally around the corner.

 

The set of post-Brexit trading rules for Northern Ireland has split political opinion since its inception in 2021.

 

Prime Minister Rishi Sunak has been to Belfast to brief Stormont politicians on what the solution might look like.

 

The Democratic Unionist Party (DUP) - among the protocol's most vocal critics - says progress has been made and describes this as a "big moment" in the path towards a deal.

 

Now the prime minister will return to the table with the EU, aiming to secure the final stages of an agreement.

 

So what could a deal actually look like? And will it appease those who oppose the existing set-up?

 

Green and red lanes

Products that are staying in Northern Ireland will go through a green lane, undergoing fewer checks and less paperwork than those headed for the Republic of Ireland.

 

The EU had their own terminology for this - an "express lane".

 

Whatever the label a key question will be to what extent those controls are eased or even eliminated.

 

For Northern Ireland businesses a bigger issue than physical checks has been increased paperwork, such as customs declarations, so for them a true green lane would have to mean minimal bureaucracy.

 

A major step to this agreement overall was when the two sides signed off on a UK-designed trade data sharing system.

 

The EU says this "real-time" information will allow them to better monitor what is actually crossing the Irish Sea and therefore potentially at risk of entering their single market.

 

The European Court of Justice will retain a role

Under the protocol Northern Ireland continues to follow some EU trade rules.

 

The European Commission is understood to have made it "crystal clear" to member states that it has kept to its red line - that the European Court of Justice (ECJ) will have the final say on single market issues.

 

The UK's original position was that the ECJ's oversight role be entirely removed.

 

However expect language that will downplay the court's importance and emphasise other arbitration routes.

 

Entrance to the ECJ building in Luxembourg

IMAGE SOURCE,ALAMY

"The European Commission is already bringing many fewer enforcement proceedings than it used to," says EU law Prof Catherine Barnard.

 

"Launching such proceedings isn't popular with member states and takes a lot of time and energy."

 

It is thought any cases launched within Northern Ireland at least would first be heard in a national court, as is usual among member states.

 

State aid and VAT

Businesses in Northern Ireland follow EU rules on state aid and VAT.

 

That means tax breaks and UK government payments to help firms in Northern Ireland must be within limits set by the EU.

 

Here sources have indicated to the BBC that there will be "fudge" in those areas which have, ultimately, proved less totemic than the Irish Sea trade border and governance.

 

What next?

When it comes to getting an agreement over the line timings are in flux.

 

Early next week is being widely talked about with a possible announcement on Tuesday, followed by a House of Commons debate on Wednesday.

 

Some believe the agreement could be unveiled even earlier, potentially on Monday.

 

EU ambassadors have been told things could move very quickly and have been put on standby by the European Commission.

 

However there is the usual dose of caution too with one EU diplomat remarking: "The last miles are the hardest."

 

Graphic showing how the UK government wants to alter the current arrangements for transporting goods between the UK mainland and Northern Ireland-bbc

 

 

 

 

US food sanitation firm fined after children worked nights

A major food sanitation company in the US has agreed to pay $1.5m (£1.25m), after investigators found it had employed dozens of children to clean meatpacking plants on overnight shifts.

 

More than 100 teenagers, ages 13-17, worked for Packers Sanitation Services, the Department of Labor said.

 

The agency called it a "systemic" failure by the company.

 

National laws bar employment of children under the age of 14 and limit the hours teenagers can work.

 

A spokesperson for Packers Sanitation Services said the firm had a "zero-tolerance policy" against employing anyone under the age of 18 and had conducted multiple audits and additional training after it became aware of the allegations.

 

Many of the people identified by officials had left the firm "multiple years ago", the spokesperson added.

 

"We are fully committed to working with [the Department of Labor] to make additional improvements to enforce our prohibition of employing anyone under the age of 18," they said.

 

The settlement resolves an investigation that the Department of Labor started last year.

 

It found at least three teens were injured on the job, which involved using hazardous chemicals to clean equipment such as back saws and head splitters.

 

Officials said the firm had overlooked internal flags and that some managers later tried to obstruct the inquiry.

 

"The child labour violations in this case were systemic and reached across eight states, and clearly indicate a corporate-wide failure by Packers Sanitation Services at all levels," said Jessica Looman, principal deputy administrator at the Department of Labor's wage and hour division.

 

"These children should never have been employed in meat packing plants and this can only happen when employers do not take responsibility to prevent child labor violations from occurring in the first place," Ms Looman said.

 

The teens worked across eight states at 13 plants of major firms.

 

The roughly $15,000 (£12,400) penalty per person was the maximum allowed, officials said.

 

Teen employment fell in the years after the 2008-2009 financial crisis, as job creation remained relatively weak. But it has increased sharply since the pandemic, as employers scrambled to find workers.

 

Last summer, the Department of Labor expressed alarm about a rise in child labour violations in the US.

 

In 2022, the agency handled more than 800 cases of child labour violations involving nearly 4,000 minors, up sharply from 2015.

 

US child labour rules bar employment of those under the age of 14. Teens ages 14 and 15 cannot work later than 7pm during the school year or past 9pm over the summer.

 

Laws also prohibit them from working more than three hours on school days, more than eight hours on non-school days and more than 18 hours per week.-bbc

 

 

 

 

YouTube CEO Susan Wojcicki steps down after nine years

YouTube CEO Susan Wojcicki is stepping down after nine years in the role.

 

In a blog post, she said she had "decided to start a new chapter focused on my family, health and personal projects I'm passionate about."

 

YouTube's chief product officer, Neal Mohan, will take over as head of the Google-owned video platform.

 

"The time is right for me, and I feel able to do this because we have an incredible leadership team in place at YouTube," Ms Wojcicki said.

 

Ms Wojcicki added she would continue to work at YouTube in the "short term" to "support Neal and help with the transition."

 

In her blog, she praised Mr Mohan's work launching YouTube TV, as well as leading YouTube Music, Premium, and Shorts.

 

At the invitation of Sundar Pichai, chief executive of Google's parent firm, Alphabet, Ms Wojcicki confirmed she would to "take on an advisory role across Google and Alphabet."

 

"This will allow me to call on my different experiences over the years to offer counsel and guidance across Google and the portfolio of Alphabet companies," she said.

 

Legacy

Ms Wojcicki became involved with Google when the founders, Sergey Brin and Larry Page, set up shop in the garage of her home in Silicon Valley in 1998, becoming the company's first marketing manager a year later.

 

A Google employee for nearly 25 years, she was among the first 20 employees at the tech giant - listed at number 16.

 

During Ms Wojcicki's tenure at YouTube, she has faced public criticism over the platform's handling of content moderation, the spread of misinformation, and ongoing concerns over child privacy.

 

Fact-checking organisations around the world say that YouTube is not doing enough to prevent the proliferation of misinformation on the platform.

 

When she joined the online video platform in 2014, it had just hit the milestone of one billion users. It currently hosts 2.5 billion users worldwide - with many YouTube creators, also known as YouTubers, carving profitable careers out of their individual channels.

 

Jimmy Donaldson, better known as Mr Beast, was YouTube's highest-earning content creator last year.

 

The young American made £45m ($54m) in gross revenue in 2022, more than any YouTube creator in the history of the platform - according to recent estimates by Forbes magazine.

 

Ms Wojcicki is the latest in a series of high-profile tech executives to leave long-standing roles.

 

Her departure follows Jeff Bezos, who resigned as CEO of Amazon in 2021, Facebook's Sheryl Sandberg stepping down in 2022 and Twitter CEO Parag Agrawal, who left the company last year as part of a shake-up instigated by new boss Elon Musk.-bbc

 

 

 

Germany: Flights cancelled as strikes wipe out air travel

Seven major German airports have been brought to a standstill after hundreds of ground crew walked out on strike in a row over pay.

 

Aircraft are grounded at Frankfurt, Munich, Stuttgart, Bremen, Hamburg, Hanover and Dortmund.

 

More than 2,300 flights have been cancelled affecting 300,000 passengers, with air travel effectively wiped-out.

 

Members of the Ver.di union and Civil Service Association are demanding a 10.5% pay increase for workers.

 

At Leipzig Airport, a handful of international flights got away this morning but domestic flights were cancelled.

 

At Frankfurt Airport, a couple of passengers wheeled suitcases through what is usually the bustling departures terminal. It was, one local TV reporter noted, almost as empty as it had been during the Covid pandemic.

 

The action coincided with the start of the high-profile gathering of world leaders and defence experts at the Munich Security Conference.

 

The arrival of prominent guests was not expected to be affected but other delegates were advised to travel by train.

 

Airports handling emergency aid for earthquake victims in Turkey and Syria have said that those cargo flights would continue as scheduled.

 

But the strike - which comes two days after Frankfurt Airport cancelled 200 flights when building work knocked out Lufthansa's online check-in and boarding systems - has prompted a furious response from some German business leaders.

 

Representatives of small and medium business associations condemned the action as unacceptable and accused the unions of taking the whole country hostage for their own interests.

 

And air passengers in Germany are becoming accustomed - even resigned - to this kind of disruption.

 

Last summer, staff shortages led to chaotic scenes at airports as flights were delayed and cancelled and travellers queued for hours at check in and security.

 

A representative for Ver.di said that, unless pay and working conditions improved, those issues would continue and guarantee another turbulent summer at the country's airports.

 

Lufthansa has already announced it will have to reduce its summer programme as a result of staff shortages.

 

Germany's unions are well organised and it's rare to see picket lines because most employees participate in strikes. But workers are expected to hold demonstrations at various airports throughout the day.

 

Their demands have thus far been rejected by employers who are yet to submit their own offer with talks expected to continue next week. And the leader of Ver.di, Frank Werneke, struck a threatening tone earlier.

 

"The next strikes will have a different dimension," he said. "Unless the employers table a good offer next week, this will be just a taste of what's to come."-bbc

 

 

 

 

Co-op cuts best before dates from 150 fruit and veg products

The Co-op is to remove best before dates from many fruit and vegetables in a bid to reduce food waste.

 

The company said taking the dates off its fresh produce would help shoppers save money and help the environment.

 

It said food stored in the fridge would keep for much longer than best before dates indicated.

 

Bigger national supermarkets, including Sainsbury's and Asda, made similar moves last year.

 

>From next week, the Co-op will remove best before dates from more than 150 fresh products, including apples, broccoli, carrots, onions, oranges, potatoes and tomatoes.

 

A small number of more perishable products will still have best before dates.

 

The move follows a trial last year on 20 products.

 

The Co-op group, which has 2,500 UK grocery stores, will instead use encrypted codes - a series of letters and numbers - for workers in stores to keep track of how long produce has been on the shelf.

 

It said that best before dates on fresh produce could mean people threw fruit and veg away when it was still good to eat.

 

It said customers should use their judgement as to whether fresh fruit and vegetables at home had gone off.

 

Best before or use by?

According to the Food Standards Agency, it is important for people to know the difference between best before and use by dates.

 

Best before dates are about the quality of a product, and eating food past its best before date means the food will be likely to be safe to eat but may be not at its best.

 

Use by dates, on the other hand, are about food safety.

 

People should never eat food after a use by date, according to the Food Standards Agency, due to the risk of food poisoning.

 

Use by dates tend to be on food that goes off quickly, such as meat and ready-to-eat salads.

 

Green claim

Adele Balmforth, propositions director at the Co-op, said the UK was facing "a climate, environmental and cost-of-living crisis" but its removal of best before dates would help customers cut food waste.

 

Product testing by environmental charity Wrap found that fruit and veg stored in the fridge could last much longer than its best before date.

 

Broccoli can last about two weeks, and apples can last more than two months, the charity said.

 

Catherine David, director of collaboration and change at Wrap, said households spent £700 a year on average "on good food which ends up in the bin".

 

Wrap said UK households could save £50m per year in total by removing best before dates on apples, bananas, broccoli, cucumber and potatoes alone.

 

The move by Co-op follows similar policies by bigger supermarkets.

 

Tesco, the UK's biggest grocer, removed best before dates on more than 180 fruit and veg lines in 2018, while Asda and Sainsbury's followed suit on hundreds of lines last year.-bbc

 

 

 

Transpennine: True extent of cancellations revealed

The true extent of cancellations made by the Transpennine Express rail franchise has been revealed in figures published by the rail regulator.

 

In a four-week period the company cancelled 1,048 trains before 22:30 GMT on the day before they were due to run, and part of the route on a further 312.

 

Because the announcements were not made on the day, these cancellations were not included in official statistics.

 

Transpennine has said such decisions were "not taken lightly".

 

Usually these pre-planned cancellations - also called P-coding advance cancellations - are used when an emergency timetable is needed in response to poor weather or damage to rail infrastructure.

 

However, in each case the Transpennine trains, which operate across the North of England and into Scotland, were cancelled due to a shortage of available train crew.

 

The number of cancellations it made in this way far outstripped any other rail operator in the four weeks to 4 February. For example, government-owned Northern recorded 182 full cancellations, Transport for Wales 30 and LNER 17 - all attributed to staff shortages.

 

Labour: Remove Transpennine Express rail contract

Under-fire train boss apologises for poor services

Releasing the figures the Office of Road and Rail (ORR) regulator said Transpennine's cancellations score for that period jumps from an official 8.9% to 23.7% when P-coding was taken into account.

 

Transpennine has previously said it only resorted to pre-planned cancellations "when resources are not available to cover advertised services in order to maximise advance notice of service changes for customers".

 

It blamed the "combined impact of prolonged higher-than-usual sickness levels, the significant driver training programme to facilitate the delivery of the Transpennine route upgrade and an aligned lack of a driver overtime agreement"

 

"[This has] led to the need to remove services from the timetable on a day-by-day basis through pre-planned cancellations."

 

However, the practice has come under fire from the ORR which published these figures for the first time on Friday.

 

In January the regulator said cancellations were at "record levels" and its investigation had "confirmed a further gap between cancellations statistics and the passenger experience".

 

It said this was "driven by an increased number of unrecorded 'pre-cancellations'".

 

"For a passenger this could mean that a train they expected to catch when they went to bed can disappear from the timetable by the time they leave for the station unaware that the train has been cancelled."

 

Labour and some Conservative MPs have called for Transpennine's contract, which expires on 28 May, to be withdrawn.

 

Last month Labour's shadow transport secretary Louise Haigh said the service had "never been worse".

 

Anthony Smith, chief executive of the independent watchdog Transport Focus, said passengers were left "confused and frustrated" when a train they expected to catch was cancelled the day before they were due to travel, and may well be surprised to find that this doesn't count as a cancellation.

 

"Things like this leave a sour taste in the mouth - and damage trust in the railway. The scale of this so-called 'P-coding' on some operators in recent months has highlighted the problem. We are pleased to be contributing the passenger voice in industry discussions about how to address the regulator's concerns."-bbc

 

 

 

 

Nigeria: Why Beans Farmers Should Consider Advice On New 'Planting Window'

For the various ecologies in the country, the African Agricultural Technology Foundation (AATF) has identified planting windows for suitable cowpea, commonly known as beans.

 

The windows would help farmers manage the vulnerability of climate change, according to Dr Jean Baptiste, regional representative for West Africa for the AATF, who revealed this during a visit to Pandagric Farms, close to Keffi, Nasarawa State.

 

The dry season cowpea production being implemented by AATF includes the cowpea field in Panda, which is over 35 hectares in size. This will ensure that the variety produces at its peak when pest pressure and other climate vulnerabilities are absent.

 

Dr Baptiste added that because of the effects of climate change, which include either too much or too little rainfall or an early end to the rainy season, beans are not producing at their optimum potentials, making it difficult for Nigerian farmers to collect their crops.

 

 

"After a careful study of the situation, we have come to understand that because farmers are not guided on when to plant, crop productivity is often interrupted by climate uncertainties. The rain fall pattern for the country is not uniform and each year comes with its own surprises, so it is important for farmers to be accurately guided," he said.

 

He noted that in the last few years, farmers have been suffering from several uncertainty associated with the rainfall pattern, and this has greatly reduced cowpea productivity.

 

"It is either the rain is too much, submerging cowpea farms all over the places as a result of flash flood or the rains end suddenly, or drought sets in at a time the crop needs enough water," he said.

 

He advised cowpea farmers to take advantage of identified planting windows, which carefully arrived after studying the weather pattern in the last few years.

 

According to him, farmers in the Sahel region, comprising Borno, Yobe, Jigawa, parts of Katsina and Sokoto states, should endeavour to plant from the third and fourth week of June to enable them maximise the opportunities of early rains and beat any possibility of early cessation, while those in the Sudan Savannah region, including Kebbi, parts of Sokoto, Zamfara, Katsina, Kano, Jigawa, Bauchi, Yobe and Borno states, should plant from the first to second week of July.

 

He equally urged those in the Northern Guinea Savannah - Bauchi, Kaduna, parts of Katsina, Kano and Zamfara to commence planting from the third week of July to first week of August, while those in Southern Guinea Savannah, such as Niger, Kwara, parts of Abuja, Adamawa, Taraba and Gombe, have the first to third week of August to plant.

 

After two years, some farmers have taken advantage of the prolific nature of the pod borer resistant cowpea to undertake two planting seasons during the cause of the planting year.

 

According to statistics from the Institute for Agricultural Research, Ahmadu Bello University, Zaria, the PBR cowpea is the most sought after cowpea variety in the country currently.

 

The variety is most preferred by farmers due to its early maturing quality, use of less chemical spray, high yielding and high folder production.

 

-Daily Trust.

 

 

 

 

Nigeria: How Naira Crisis Is Affecting Farmers, Herders Without Bank Accounts

Farmers and herdsmen have suffered losses in Taraba State as a result of the scarcity of naira notes, which has crashed prices of grains and cattle.

 

The situation is further compounded because 90 per cent of farmers and herdsmen do not have bank account numbers.

 

At grain and cattle markets, trading is conducted on cash-and-carry basis and both farmers and herders are rejecting cash transfer from those buying produce and animals.

 

Similarly, out of the 11 major grain and cattle markets located in four local government areas of the state, only Mutumbiyu town have a functional commercial bank.

 

Farmers and herdsmen who brought their grains and cattle to the markets were disappointed because of the absence of buyers who could transact business on the basis of cash-and-carry.

 

The development has compelled villagers and herdsmen to sell their produce and animals at cheaper rates, while those who were not ready to accept the low prices went home with their items.

 

 

Major grain and cattle markets in the state are in Maihula, Tella, Mutumbiyu, Jatau, Kungana and Karamti.

 

Others are Garba-Chede, Gazabu, Iware, MarabanBaissa and MarabanKunini.

 

It is only in Mutumbiyu that there is a functional commercial bank.

 

Further findings revealed that transactions in these markets usually run into billions of naira.

 

Our correspondent reports that all the markets are very far from Jalingo, the state capital, where banks are located, and those buying and selling always face the risk of moving millions of naira to the markets.

 

According to our findings, because of the absence of commercials banks in their locations, farmers and herders find it difficult to open bank accounts.

 

 

The few point of sale operators in most of the markets do not always have enough money to meet the cash demands of merchants, who transact business in millions of naira

 

This development has affected business activities in grain and cattle markets across the state, leading to crash in the prices of grains and cattle.

 

At Iware town in Ardo-Kola Local Government Area, where a grain and cattle market operates every Tuesday, prices have crashed to the lowest rate in recent years.

 

Our findings revealed that a 100kg bag of maize came down from N18,000 to N12,000.

 

Similarly, a 100kg bag of beans came down from N40,000 to N30,000, a bag of groundnut came down from N70,000 to N50,000, while a bag of soybeans is now sold at N21,000 as a against N32,000. A bag of dried cassava sold at N9,000 few weeks ago is now N4,500.

 

 

Prices of cattle are also affected. For example, a big cow that cost N400,000 few weeks ago is now sold at N270,000, while the size sold at the rate of N230,000 few weeks ago is now N170,000.

 

The situation is the same at Maihula, Garba Chede and Tella markets.

 

A farmer, Nuhu Adamu, who brought five bags of maize to Iware market, told Daily Trust on Sunday that he was disappointed with the poor prices of grains.

 

Adamu said he sold six bags of maize at N19,000 last month, but the price came down to N12,000; and he had no option than to sell his produce.

 

He also said there were few buyers who paid in cash, while the rest offered to pay through bank transfer, which the farmers rejected.

 

"Most of us do not have bank accounts; therefore, we cannot accept cash transfer. As a result of this, grain merchants who had cash exploited farmers who wanted it. They bought their produce at giveaway prices," he said.

 

The situation is worse in remote areas where Point of Sale (PoS) operators are hardly available.

 

Farm produce and cattle were brought to the markets from areas like Dakka, Tau, Nanguru, Garwa, Monkin, Kunini and Didanko, as well as several other villages.

 

Prices of smoked fish also came down drastically.

 

A cattle merchant, Bello Buba Chokka, told Daily Trust on Sunday that he brought a cow worth N250,000 in December last year, but at the market on Tuesday, he could not find a buyer who would pay him in cash.

 

"The practice in all the cattle markets across Taraba State is that buyers pay in cash, but now, there is scarcity of naira notes and that is why prices of cattle crashed," he said.

 

Chokka said he had to sell the cow at a giveaway price of N170,000 because he needed money.

 

He accused merchants of taking advantage of the scarcity of naira notes to exploit herdsmen and farmers.

 

Both farmers and cattle owners complained that if the trend continues they would become poor and not be able to go back to farm the next season.

 

"We reared animals to make profits and planted crops to sustain ourselves. Now, we are forced to sale our produce and animals at giveaway prices," Animu, one of the farmers lamented.

 

During their sensitisation tour at the Iware cattle market, officials of the Central Bank of Nigeria (CBN), led by a director of finance and statistics, Ibrahim Hassan, said they were shocked to discover that despite huge commercial activities in the area, there is no commercial bank in the local government.

 

Hassan promised that very soon, a commercial bank would be established in the market, and urged traders and farmers to open bank accounts so that they could do their businesses with ease.

 

-Daily Trust.

 

 

 

Africa: Egypt Keen On Activating African Continental Free Trade Area - FM

Foreign Minister Sameh Shoukry said that Egypt is keen on activating the African Continental Free Trade Area (AfCFTA) as Cairo is working on finalizing protocols concerned to put the project into effect.

 

In statements to Al Qahera News TV station on the sidelines of participating in the 36th African Summit held in Addis Ababa, he added that the summit this year comes within great international challenges.

 

He noted that the summit has tackled these challenges including the Ukrainian crisis, food security, debts' crisis, efforts to reach ceasefire as well as attempts to deal with the African crises and conflicts.

 

He added that the summit is an opportunity to reach a joint African vision to deal with these challenges.

 

-Egypt Online.

 

 

 

Kenya: Murang'a Farmers to Export Avocados

Muranga — A Murang'a farmer's union has commenced construction of an aggregation house which will enable them pack and export their avocado directly to international buyers.

 

The Sh70 million facility, will help the farmers allied to Murang'a Avocado Farmers' Cooperative Union to lock out brokers who for long have been exploiting them.

 

The project, funded by the World Bank and the county government through the National Agricultural and Rural Inclusive Growth Project (NARIGP) will enable the farmers to sort and package quality avocado in effort to access international buyers.

 

Chairman of the union Mr. Mwaniki Gitau speaking during ground breaking for construction of the aggregation house on Wednesday in Kandara, lauded the project saying it will edge out middlemen who limit farmers' returns.

 

He noted the aggregation house, expected to be completed before the end of this year, will ensure they export quality fruits which are on high demand in the international market.

 

 

The chairman noted that in the last harvesting season, members of the union managed to export more than 350 metric tons of avocado, generating sh. 2 billion.

 

Murang'a leads in production of avocado but due to brokers farmers have not benefited hugely from their produce.

 

"With the aggregation house, we will be able to sort, wash and package quality fruits for international markets. This will bring in more returns to farmers," he added.

 

Mwaniki divulged that the union has signed agreement with four exporters who have expressed interest in buying their avocado adding that this will ensure the farmers get minimum guarantee return price.

 

He said they have already found markets in Mexico, Dubai, China and Egypt where they will be exporting the produce.

 

The sub-sector, he added, has a huge potential to generate revenue for the country pointing out that Kenya is ranked third largest avocado producer globally.

 

"As a union, we have settled on Sh.120 as the minimum price and we hope we can get as much as Sh.200 per kilo of avocado," he remarked adding that their target is to hit Sh.6 billion sales from avocado considering the potential of the sub sector.

 

Mwaniki averred that in Murang'a County there are 92,250 avocado farmers who can produce up to 700 metric tons annually adding that currently the production stands at 500 metric tons.

 

The chairman said the union has been engaging agricultural officers to train farmers on best farming practices for them to produce quality.

 

"We are doing organic farming as per the international standards and this will ensure we give the best quality to the market." he added.

 

Mwaniki however decried increased farm theft of the produce attributing it to unscrupulous brokers who have set up kiosks in the area.

 

"We have mushrooming kiosks in the area and buyers are buying any quantity at a throw away price. The theft has also occasioned harvesting of immature fruits thus tainting our reputation in the international markets," he stated.

 

Mwaniki continued "The government only needs to put in place measures to safeguard the produce and ensure it does not collapse like the tea and coffee sectors," said the chairman.

 

Simon Wamwea ward representative for Ng'araria said there is a motion in the assembly which is aimed at curbing avocado theft where the buyers will be required to obtain a license from the county government and also keep a record of the farmers who supply them with the fruit.

 

-Capital FM.

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

Robert Mugabe National Youth Day

 

February 21

 


Cafca 

AGM

virtual 

February 23  - (12pm)

 


Ariston 

AGM

Centenary Room, Royal Harare Golf Club

February 24 - 3:30pm

 


 

Good Friday

 

April 7

 


 

Easter Saturday

 

April 8

 


 

Easter Sunday

 

April 9

 


 

Easter Monday

 

April 10

 


 

Independence Day

 

April 18

 


 

Workers’ Day

 

May 1

 


 

Africa Day

 

May 25

 


 

 

 

 

 


Companies under Cautionary

 

 

 


CBZH

TSL

Fidelity

 


Willdale

FMHL

ZBFH

 


GetBucks

Zimre

Seed Co

 


 

 

 

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from sources believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and sourced from third parties.

 


 

 


(c) 2023 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:  <mailto:info at bulls.co.zw> bulls at bullszimbabwe.com Tel: +263 4 2927658 Cell: +263 77 344 1674

 


 

 

 

 

 

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