Flash Briefing: Moody's says Eskom restructuring not enough; Tencent invests in Reddit; Morgan Stanley buys big; Ports prepare for rising sea levels

In today’s global business headlines… Wall Street investment bank Morgan Stanley yesterday announced its biggest acquisition since the global financial crisis with the $900m purchase of Canadian-headquartered Solium. While the debate about the impact of global warming continues to rage, ports around the US aren’t taking any chances after the government’s national Climate Assessment concluded that the sea level will rise significantly. Link sharing internet website Reddit has been valued at $3bn in a successful fund raising issue to inject $300m into the company. In South African related news, credit rating agency Moody’s says president Cyril Ramaphosa’s plan to fix Eskom is not enough to address the problem.