Latest news with #PaulHoffman
IOL News
5 days ago
- General
- IOL News
Why is the NPA made to race in a VW Beetle against Formula 1 cars?
The reason the National Prosecuting Authority (NPA) keeps being left in the dust in the race against the crooks is that it is made to drive a VW Beetle against corrupt individuals driving Formula 1 cars. That is how some of South Africa's top legal minds describe the situation that keeps leading to the NPA being in the news for the wrong reasons, bungling and losing cases as has happened this week in the R255 million "asbestos case'. 'The NPA is blamed a lot for the political side of its lack of capacity. If you enter a Volkswagen Beetle in a Grand Prix race against Ferraris and McLarens and Mercedes Benzes, you cannot expect it to win. And that is in fact what is happening in the view of Paul Pretorius, who was the evidence leader in the State Capture enquiry.' These are the words used by Accountability Now director Advocate Paul Hoffman to describe the NPA's atrocious performance over the years. I was tempted to rest my case and forget ever seeing any 'big fish' successfully prosecuted in my life time. But I refuse to give up all hope. As a member of the media community, I must continue to report, and continue hoping that there'll be a Grand Prix win one day for the hapless NPA against the Lewis Hamiltons and Michael Schumachers of corruption and other crimes. Hoffman invoked the analogy used by his learned colleague and namesake once to describe the ongoing shameful saga of the NPA this week during an interview on SABC channel 404 with news anchor Thembekile Mrototo. For the uninitiated, the lovable standard Beetle can only reach about 126km/h, while Ferraris and other Formula 1 cars can reach top speeds of about 375km/h. As a diehard Beetle and general VW fan, the interview left me feeling absolutely defeated. I felt the same way after that fake pastor from Nigeria left our NPA eating the dust a couple of weeks ago. And, then this week, a key accused in the asbestos case was told she was free to go. My question is: why is President Cyril Ramaphosa allowing the NPA to enter these races in a Beetle if he really wants the State to win?
Zawya
17-04-2025
- Business
- Zawya
Global markets lose $10.3tln in value, turmoil hits major economies
Global stock markets have faced sharp turbulence, with the world's 10,000 largest listed companies shedding $10.3tn in value between Monday, 17 March 2025 and Tuesday 8 April 2025, according to data analyst at BestBrokers, Paul Hoffman. Hoffman says the firm's latest research highlights how different economies are positioned to withstand further losses amid ongoing market uncertainty. The US was hit hardest, with $5.36tn wiped from company valuations, followed by China ($923.6bn), Japan ($434bn), Germany ($289bn), and Taiwan ($267.7bn). While the US S&P 500 alone has lost nearly $6tn since the announcement of sweeping tariffs under President Trump, the impact has been global. Billions in value have evaporated across markets in every major region. Despite the scale of these losses, many leading indices are still above where they were a year ago — supported by resilient earnings and long-term growth. In addition to tracking the drop in market value, BestBrokers also examined how countries stack up in terms of billion-dollar company density, measured relative to population and economic output, across 74 countries and territories. Here are some key highlights from the report: - In March, 5,522 publicly listed companies worldwide were identified with a market value of at least $1bn, with 1,873 headquartered in the United States. Three weeks after that, on 8 March, the number of billion-dollar public companies dropped to 5,370, with just the US losing 74 companies. - When adjusted for population, Monaco leads the world with 77 billion-dollar companies per million citizens, followed by Luxembourg (32) and Iceland (18). - Other countries with a large number of billion-dollar companies per million citizens are Switzerland with nearly 14, Sweden with 10.5, Singapore with close to nine, and Qatar with eight. Norway, Israel, and Denmark round up the top 10 countries with nearly eight companies per million people in Norway and Israel, while Denmark has seven. - Although the United States has the largest absolute number of billion-dollar companies, it ranks 16th globally on a per capita basis — trailing behind smaller, entrepreneurial economies like Ireland, Qatar, and Israel. The US has roughly five billion-dollar companies per 1 million people. - Although the aggregate market capitalisation of US-based billion-dollar companies dropped to $51.75tn, this is still nearly double the size of the American economy. As volatility shakes larger markets, understanding where corporate strength is most concentrated can offer valuable insights for navigating the months ahead. Smaller, agile economies continue to punch well above their weight, signalling resilience and opportunity even as the broader market faces renewed pressure. A total of 13 countries saw a market wipeout of $100bn or more within the past 22 days. These are the countries where companies have lost the most market capitalisation: United States - down $5.36tn to $51.75tn China - down $923.6bn to $6.87tn Japan - down $433.9bn to $4.68tn Germany - down $289.1bn $2.39tn Taiwan - down $267.7bn to $1.48tn France - down $230.8bn to $2.83tn Switzerland - down $177.7bn to $2.29tn United Kingdom - down $170.5bn to $3.47tn Netherlands - down $149.7bn to $1.17tn Ireland - down $111.5bn to $894.79bn Sweden - down $109.9bn to $1.02tn Hong Kong - down $108.5bn to $835bn South Korea - down $105.6bn to $932.9bn All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
