- Today, the iPad 3 goes on sale. Should I say that it started going on sale today? As the timezones clicked over, so the Apple stores across the East have started opening. Typically, there are the crazies who have been queueing in a Harry-Potter-esque type fashion since March 14 (“I just want to be the first to own one in Japan”). Or the guy who’s been waiting for four days in Australia, with changes of clothing and permission to use the iStore’s bathroom. Link: the iPad’s Sydney debut. That’s some serious dedication. They should make a movie about the iPad. Hurry iPadder and the Australian’s Stoned. While I’m at it, I’m also celebrating this article, which opened with the line: “Today is International Wait In Line For Your New iPad Day, an annual rite of spring for thousands of urban American hipsters and an official holiday in many regions of the Internet. It will not, however, be celebrated in China”.
- China’s Corporate Espionage. It’s knocking the wind out of US companies. But mostly, you should read this article because it reads like a James Patterson novel. And it has the line “The company’s stock chart looks like the electrocardiogram of a person rushing toward white light”. Brilliant. Link: The Unfortunately Common Case of AMSC and Sinovel.
- The love affair between Warren Buffett and Jamie Dimon (CEO of JPMorgan Chase) continues, with Jamie apparently praising Warren for Berkshire’s compensation policies. Mr Buffett may only accept a salary of $100,000 per year – but his employees receive substantially more than that. Bonuses where bonuses are due. Except that, when you read the article, what was actually happening is the Jamie D was being criticised for the size of his pay package. His retort was “I bet you that WB pays more than we do”. Praise? Hmmm. Link: Buffett awards Wall Street-sized pay.
- And the Africa Business News in brief. Link:
- Africa Finance Corporate (a Nigerian Investment Bank) is to partner with Zambia’s Copperbelt Energy Corporation in the financing and development of six new hydroelectric power stations worth over $1 billion.
- Zimbabwe’s headline CPI was 4.3% year-on-year in February. Practically unchanged.
- Botswana’s headline CPI slowed to 8.2% year-on-year in February.
- Tanzania’s dipped to 19.4%.
- Impala Platinum has come out to say that the Zimbabwean government must pay for its 31% stake. This after Tendai Biti told everyone yesterday that the Zim government was going to have to close its doors as it’s running out of money. Awkward. But who’s willing to bet that the Zimbabwean Government retaliates by just taking over Zimplats? I mean – it’s not like property rights have stopped it before.
- Ecobank is expanding again. That bank is giant.
That’s all for now.
Have a great Friday.