In the news today: Black Friday morphs into ‘Black November’, the Reserve Bank hikes interest rates, and crypto losses near US$700bn this week

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Black Friday morphs into ‘Black November’

BankservAfrica recorded R2.5bn worth of transactions on Black Friday in 2017. Retailers are planning to top this – but consumers should bear in mind that deals will continue throughout ‘Black November’, according to PwC.  READ MORE

First interest-rate hike since 2016

Inflation risk has driven the Reserve Bank to hike interest rates by 25 basis points to 6.75% a year.  READ MORE

Crypto losses close to US$700bn this week

Crypto investors had another bad week as Bitcoin plunged to US$4 000 and the Bloomberg Galaxy Crypto Index declined to 25%. But it is not ‘game over’ for cryptocurrencies.  READ MORE

Investec launches dollar-based offshore account

Investec Bank has launched its Corporate Cash manager US dollar notice deposit account – a 32-day notice account allowing financial advisors to manage their clients’ offshore cash-flow requirements.  READ MORE

Algorithmic forecasting a game-changer for CFOs

The move from traditional to algorithmic forecasting will be a game-changer for businesses that want to navigate risk, says Deloitte.  READ MORE