European leaders have finally reached an agreement on the bloc's next long-term budget and a Covid-19 recovery fund. Northern and southern countries found a compromise on the proportion of grants to be included in the stimulus package by offering increased budget rebates to the "frugal" countries. The frugals also managed to get an emergency brake instrument into the deal – it means that if other member states think one country isn't spending its aid money wisely, they can hit pause on payments while they review how the money is being used.
The Africa Media Fund is set to invest in large scale media infrastructure in media assets on the African continent with a specific focus on South Africa, Nigeria, Namibia and Tanzania. Joining CNBC Africa for more is DR. Khumoetsile Moetse, General Partner of the Africa Media Fund.
It’s game over for Neil Woodford’s flagship investment vehicle. The equity income fund is getting liquidated and the embattled money manager has been ousted with immediate effect. This marks the latest chapter in a dramatic reversal of fortunes for the U.K.’s former star stock picker. Bloomberg’s Suzy Waite reports on “Bloomberg Markets: European Open.”