| A number of companies aren't letting Covid-19 and uncertain economic conditions around the globe hold back their capital investment programmes. Kumba Iron Ore is moving ahead with a development project at its Kolomela mine in the Northern Cape that will cost it an estimated R7 billion. While it admits Covid-19 continues to present challenges locally and globally, the iron ore producer says it is encouraged by China's recovery so far, as well as the reopening of European economies. A much smaller company, Vivo Energy, has also continued to invest in the rollout of petrol stations across the continent despite the massive dent the pandemic has left in its first-half earnings as cars were taken off the roads. It's hopeful for a better second half. Meanwhile, after one consortium of funders declined to pursue an investment in Comair, its business rescue practitioners are hopeful they will have more success with two more consortia that have come forward with offers to invest in the airline operator. They are now trying to buy more time with creditors before they can put a business rescue plan on the table. More on those stories to follow, along with updates from Bowler Metcalfe and Sebata Holdings. You'll also find all the latest research reports from Ingham Analytics down below. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
Recent notes from Ingham Analytics "I'm Forever Blowing Bubbles" says the US dollar isn't just vulnerable but the Eurozone is even more so. What is the alternative? And here's a stat - the ratio of debt-to-GDP for private non-financial parties in the United States is a staggering 1.5x - in 1952 it was a third of that. And if you thought all euros are equal think again - the Bundesbank's claims over other Eurozone national central banks have exploded. Tencent is chasing NYSE-listed Sogou, proposing to take it private and buy the 36% it doesn't already own. The search fight continues - as does gaming rivalry. "Tencent on top of its games" is timely in this regard. But Prosus is enjoying only part of the ride as investors discount its value relative to Tencent and seemingly don't give a row of beans for the assets it does control. Other notes you may be interested in include "Saudi Arabian stalking horse", "Tech and the Treasury 10s", "(I)n (M)y (F)ace.....and yours", "US data provides a chink of light in Covid-19 gloom", and with the Anglo Group reporting "Cold on coal".
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