
Kenya Airways Plans to Boost Cargo Capacity After Covid Recovery
Kenya Airways Plc plans to acquire bigger cargo aircraft as intra-African trade expands and exports from the region bounce back from the Covid-19 pandemic slump.
The partly state-owned airline added two Boeing 737-300s with 44 tons capacity to its two freighters with a combined capacity of 30 tons last year and is planning to add even bigger aircraft to improve its economies of scale, Director for Cargo Dick Murianki said in an interview in the Kenyan capital, Nairobi, last week.

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Business Insider
9 hours ago
- Business Insider
South Africa leads as 17 African companies make Forbes list of world's largest firms
For the 23rd consecutive year, Forbes has released its Global 2000 ranking, highlighting the world's largest and most influential publicly traded companies, with South Africa accounting for the majority of Africa's entries. Forbes released its 23rd Global 2000 ranking of the world's largest publicly traded companies in 2025. A total of 17 African companies are on the list, with South Africa leading the entries. South Africa dominated the African representation with firms across finance, tech, mining, chemicals, and more. In 2025, a total of 17 African companies made the Forbes Global 2000 ranking, dominated by South Africa with 14 entries, followed by Morocco with 2 and Egypt with 1. Per Forbes, the 2025 Global 2000 companies collectively account for $52.9 trillion in revenue, $4.9 trillion in profits, $242.2 trillion in assets, and a $91.3 trillion market capitalization. Notably, despite global economic challenges such as renewed U.S. trade tensions, these companies achieved record-breaking figures across all four key metrics: revenue, profit, assets, and market value; showcasing remarkable resilience. 17 African countries ranked within the global top 2,000: RANK Company Country Sector New Gains 1 FirstRand South Africa Banking $2.26 B 2 Standard Bank Group South Africa Banking $2.39 B 3 Naspers South Africa IT software & Services $3.31 B 4 Sanlam South Africa Insurance $1.21 B 5 Absa Group South Africa Banking $1.17 B 6 Attijariwafa Bank Morocco Banking $956 M 7 Nedbank South Africa Banking $926.6 M 8 Old Mutual South Africa Insurance $418.2 M 9 Gold Fields South Africa Materials $ 1.24 B 10 AngloGold Ashanti South Africa Materials $1 B 11 MTN group South Africa Telecom Services $-523.2 M 12 CAPITEC South Africa Insurance $659.1 M 13 International Commercial Bank Egypt Banking $1.1 B 14 Momentum Metropolitan Holdings South Africa Insurance $271.4 M 15 Sasol South Africa Chemicals $ -2.69 B 16 Banque Centrale Populaire Morocco Banking $416.9 M 17 Bid South Africa Hotels, Restaurants & Leisures $433.3 M Africa's representation on the Forbes Global 2000 list may be modest, but there's no doubting its economic influence is steadily growing within and beyond the continent. This is evident in the diverse range of companies featured, from established multinationals to emerging tech and financial powerhouses. South Africa has once again cemented its dominance in Africa's corporate landscape, with the majority of the continent's representatives in the 2025 Forbes Global 2000 list. Out of the 17 African firms that made the cut, 14 are based in South Africa, spanning sectors such as banking, insurance, telecommunications, mining, and chemicals. Leading South Africa's presence are FirstRand, Standard Bank, and Naspers, reflecting the country's strength in finance and tech. Morocco follows distantly with two companies, Attijariwafa Bank and Banque Centrale Populaire, while Egypt's Commercial International Bank (CIB) is the only North African entrant outside Morocco. The exclusion of Nigerian companies from the ranking is concerning. Despite hosting major oil and industrial giants, Nigeria's low number of publicly listed large-cap firms and weak presence in global financial benchmarks limit its corporate visibility, even as Africa's most populous nation.

Miami Herald
9 hours ago
- Miami Herald
Warren Buffett's Berkshire Hathaway expects housing market price changes soon
Homebuyers have faced a turbulent housing market over the past few years. Rising home prices and elevated mortgage rates have forced many Americans to reconsider or postpone homeownership until conditions become more affordable. In 2020 and 2021, home prices skyrocketed as moving patterns shifted from cities and homebuyers began to take advantage of record-low mortgage rates below 3%. After the initial Covid-era housing boom, surging inflation in 2022 exacerbated housing prices that were already on the rise. Don't miss the move: SIGN UP for TheStreet's FREE daily newsletter As mortgage rates inch back toward 7%, homebuyers have tempered their expectations for a strong 2025 housing market rebound, but rising home inventory may be enough to lure them back to the market. Though the outlook for the second half of the year is uncertain, many experts believe that homebuyers will have more options and negotiating power as listings take longer to sell. Berkshire Hathaway Home Services believes there may be a shift in the housing market, offering advice for how buyers and sellers can navigate prices in the midst of continued market swings. Image source: Shutterstock Years of rising mortgage rates have created a housing market stalemate where sellers became hesitant to list their homes, creating a supply shortage and increasing competition among homebuyers. Many first-time homebuyers have been collateral damage, forced to delay or rethink homeownership entirely. Eventually, buyer demand has weakened enough to the point that housing inventory reached a surplus of over 500,000 homes, the highest level since 2013. Now, housing conditions have completely shifted, creating a buyer's market for the first time in years. For sellers to keep their listings competitive, Berkshire Hathaway Home Services suggests they may need to implement price reductions. More on homebuying: The White House will take surprising approach to curb mortgage ratesHousing expert reveals surprising ways to reduce your mortgage rateDave Ramsey predicts major mortgage rate changes are coming soonWarren Buffett's Berkshire Hathaway sounds the alarm on the 2025 housing market The blog recommends that sellers examine home prices in their area and look at home sales trends over the past few months. "Accept the current market. Ask for an updated comparative market analysis with detailed sales trends over the last three months. Are home sales slowing or accelerating? Are home prices rising or falling? Price your home slightly under the trends." found that home listings spent an average of 51 days on the market in May, up from 45 days in May 2024 but on par for the pre-Covid housing market. However, the number of unsold homes is up 21% from last year, marking a considerable change in sales trends. In March, which is typically the onset of renewed buyer demand during the spring housing market, 23% of home listings received a price reduction. Now, as housing inventory rises, sellers are losing the upper hand and may need to lower their pricing expectations. Related: Fannie Mae predicts major mortgage rate changes are coming soon The Berkshire Hathaway Home Services blog wrote that, "A price reduction should send the right message to the marketplace - that your home is well worth its asking price." It also suggests that sellers may need to put in more effort to draw in buyers and close sales. "Pay for professional staging and photography to showcase your home to better advantage online. Highlight the charms and special features of your home as well as the neighborhood." While this may not be the shift sellers were hoping for, a more favorable environment for buyers may be enough to motivate housing activity and undo the current gridlock. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

Miami Herald
12 hours ago
- Miami Herald
Popular brewery and distillery files Chapter 11 bankruptcy
A local taproom or brewery becomes a beloved part of the community. That's actually somewhat rare in the United States where we don't have a tradition of village pubs. There are some bars that fill that role becoming someplace where friends and neighbors come together. Related: New class action suit claims Costco is tricking you on prices A really good neighborhood bar becomes a place where people bring their families, fall in love, and celebrate life's big moments. When a community loses that, it can be devastating. It's very hard to replace a bar, or pub that has become a de facto community center. Real life may not have bars like "Cheers," but a good neighborhood tavern becomes a place where everybody knows your name. Losing that means more than when another Hooters or TGI Fridays closes. Don't miss the move: Subscribe to TheStreet's free daily newsletter Sure, everyone has their favorite place and the loss of any popular business can be a blow, but local pubs build connections with and between passengers unlike any other kind of business. It's just different to be a regular at one of these local businesses than to be known by the bartender at Chilis. The post-Covid period has been dark for local breweries, taprooms, and pubs, and that devastation has continued. When many businesses close or file for bankruptcy, it's solely on the merits of the business. That's not the case for Big Storm Brewing, which has been pulled down due to the financial woes of Boston Finance Group, which is owned by Big Storm partner Leo Govoni. A 2024 lawsuit alleged from 2009 to 2020, Govoni misappropriated over $100 million from special needs trusts, which are specialized irrevocable trusts established for the elderly and people with disabilities. That does not directly speak to the operations of the brewery and distillery which have a long history (at least by the standards of local breweries). More retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers "Founded in 2012, Big Storm Brewing Co. has embraced our tagline of 'Florida Craft Beer Forecast' by developing a dynamic lineup of Florida favorites like Tropic Pressure Golden Ale, steeped with hibiscus flowers, and Bromosa Tangerine IPA, brewed with all-natural tangerine puree," the company shared on its website. Big Storm also added a distillery to complement its regionally-sold beers, and to sell in its multiple taprooms. "In 2020, Big Storm Distillery was born with a mission to create world-class spirits with a local flair. Our Big Storm team are innovators at heart, always pushing boundaries, and not afraid to take risks. With a commitment to exceptional customer service, dedication to quality products, and the ambition to explore opportunities left unexplored, Big Storm has become a leader in the craft beer industry and beyond," the company added. While the fate of Big Storm had been unclear, its assets were transferred to a bankruptcy trustee by a federal bankruptcy court on June 5. That took control away from Govoni and put it in the hands of the trustee. Judge Roberta Colton found Govoni and Boston Financial Group liable for the missing $100 million as well as $20 million in interest. Big Storm has not closed its Clearwater, Fla taproom and its fate remains unclear. The court's actions put Big Storm Brewing under Chapter 11 bankruptcy protection, but under control of a trustee and not Govoni. The court could decide that the company has more value as a going concern than it does being sold off for parts. If that proves true, then it's more likely to be sold to an operator that wants to keep producing its beers and spirits. Related: Huge music retail chain closes all stores after 'bankruptcy' Big Storm has been very clear in its mission. "We're here to offer more than just a drink; we're sharing a slice of the Florida lifestyle with you, wherever you might be. Our mission? To transform each sip into a sun-drenched experience, a celebration of Floridian culture and zest. Our creations aren't just products; they're invitations to embrace the laid-back, sunny essence of Florida," it posted on its website. Big Storm's operations have continued and it still sells beer and spirits regionally and locally. It's likely to continue operating as long as it's seen as a positive to the estate. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.