Bloomberg

2024-02-29 09:02:42 Building a multibillion-dollar empire is one thing. Keeping it in the family is another matter.

By the time Wee Cho Yaw died earlier this month at 95, his five children had firmly established roles within Singapore’s richest banking dynasty that forged a $10 billion fortune. Still, his more than a dozen largely millennial grandchildren have mostly pursued their own passions in business, from a three-star Michelin restaurant to co-founding a dry cleaning chain and a website selling Asian artwork.

Cho Yaw’s wish, he wrote in his 2014 biography, was that his grandchildren would take a prominent role in the family businesses. So far, that hasn’t happened. More on the heirs in line to inherit his fortune: https://bloom.bg/3P1rjJF

: Kua Chee Siong/SPHOL/AP Photo Open / Comment

2024-02-29 06:01:11 Rockstar Games is asking employees to return to the office five days a week beginning in April. The video-game maker is entering the final stages of development on its next game, the hotly anticipated Grand Theft Auto VI.

In an email to staff reviewed by Bloomberg, Rockstar Head of Publishing Jenn Kolbe said the decision was made for productivity and security reasons.

The company has faced several security breaches including a massive dump of early footage from the new Grand Theft Auto and an early trailer that leaked in December. More here: https://bloom.bg/4bRsaGx

: Yuki Iwamura/AFP/Getty Images Open / Comment

2024-02-28 17:00:53 Bitcoin rose to $60,000 for the first time in more than two years, riding a wave of optimism that demand for the token is widening beyond crypto enthusiasts.

The largest cryptocurrency has jumped more than 40% already this year. Read more here: https://trib.al/cNCIbJP

Follow the Bloomberg Crypto Telegram channel for more news on Bitcoin: https://t.me/bloombergcrypto

: Angel Garcia/Bloomberg Open / Comment

2024-02-28 16:30:46 Currency's fresh lows: Nigeria‘s supersized interest rate hike fails to stem the naira’s decline, with the West African country’s currency slumping to a fresh record against the dollar on the official market. https://bloom.bg/49T0qjg

Land bet goes awry: A South African developer’s £110 million ($140 million) bet on a luxury plot of land in London has turned sour, with the property changing hands at a discount that was one of the city’s steepest last year. https://bloom.bg/3TfSjI0

Election dates: Political, religious and civic leaders in Senegal are proposing that the country hold presidential elections in June, in a move to end weeks of instability. https://bloom.bg/4bNwDdv

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment

2024-02-28 09:05:00 Massage chairs and natural hair growth supplements. Ointment for scorpion bites that smells like garlic. A product called Kan Killer that promises to eliminate cancer without chemotherapy — all for about $65 a bottle.

Though the alternative medicine system has endured on the subcontinent for centuries, Prime Minister Narendra Modi’s government is promoting a resurgence.

There’s a fortune at stake. Modi's call for the wider adoption of traditional medicine globally is a key part of his plan to grow India’s economy. But this is carving a deep rift in the medical community. Read more here: https://bloom.bg/3uOJb3w

: SAJJAD HUSSAIN/AFP via Getty Images Open / Comment

2024-02-28 06:42:17 South Korea set a new record for the world’s lowest fertility rate. The impact of the nation’s aging demographics looms large for its medical system, social welfare provision and economic growth.
More here: https://bloom.bg/3uHiHkC

: Yelim Lee/AFP/Getty Images Open / Comment

2024-02-27 18:12:28 Key rate surges: Nigeria’s central bank announced a supersized increase in interest rates to tackle runaway inflation and stem the collapse in the country’s currency, in its first policy meeting since July. https://bloom.bg/42VPcrR

Poaching on the rise: Rhino poachers have turned their attention to South Africa’s oldest state-run nature reserve where they killed 307 of the endangered animals last year. https://bloom.bg/3wtiulj

Chocolate costs: Cocoa prices are at an all-time high as production in West Africa declines. Now an EU regulation meant to stop deforestation threatens to push prices even higher. https://bloom.bg/3wx2A9E

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment

2024-02-27 07:07:56 FREE TO READ: Why has heart disease gotten deadlier since the pandemic?

Join us as we answer your questions about Covid's long-term effects in our free live blog here: https://bloom.bg/49PnHCt Open / Comment

2024-02-27 06:48:45 Four years after the start of the pandemic, a disturbing pattern is emerging: Not only did the pandemic result in the most deaths in a century, but it also triggered a wave of deadly cardiovascular and metabolic illness. Scientists are still trying to figure out why. More here: https://bloom.bg/4bTkDqU

: Mario Tama/Getty Images Open / Comment

2024-02-26 15:59:06 Back to mining:  Christo Wiese, South Africa’s billionaire retail king, is returning to diamonds, hoping to realize a dream of unearthing "a big stone." https://bloom.bg/4bKbuAV

Operations resume: An oil field in western Libya and a natural gas link to Italy resume after a short halt, as protesters withdraw from the facilities following assurances from the government that their demands will be met. https://bloom.bg/3OYe5xn

African bonds: Zambia’s dollar debt jumps after its government said over the weekend that China and India, the last two nations needed to sign a deal to restructure Zambia’s debt, have done so. https://bloom.bg/49PBHwe

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment