Prosus writes off its 9.6% stake in India’s Byju’s

Tech investor Prosus (OTC:PROSF) NV said it has written off the fair value of its 9.6% stake in Indian edtech firm Byju’s during the financial year 2024, making the Dutch firm the first to fully write-off its investment in the troubled startup. Prosus cites the write off to “the significant decrease in value for equity investors”. […]

South African rand firms ahead of election, rate decision next week

The South African rand strengthened on Friday, ahead of a general election and an interest rate decision next week. At 1507 GMT, the rand traded at 18.4250 against the dollar , up 0.31% from its previous close. The dollar index was around 0.33% weaker against a basket of global currencies. South Africans will on May […]

Stocks making the biggest moves premarket: Apple, Nvidia, Li Auto and more

Check out the companies making headlines before the bell. Apple — Apple shares slipped less than 1% after Reuters reported the technology giant is implementing aggressive discounts on its iPhones in China. Micron Technology — Shares moved 2.3% higher after Morgan Stanley upgraded the semiconductor company to equal weight from underweight. The bank said it had underestimated the economic and narrative […]