Business Africa

More

  • PUTRAJAYA, Malaysia— The more than two-year-long hunt for Malaysia Airlines Flight 370 will be suspended once the current search area in the Indian Ocean has been completely scoured, the three countries conducting the operation announced Friday, possibly ending all hopes of solving aviation's greatest mystery. Some families of the lost plane's 239...

  • BEIJING/ TOKYO, July 22- General Motors Co and Isuzu Motor Co have agreed to cease collaboration on the development of midsize pick-up trucks made in Asia, ending a joint product development relationship that dates back to the mid-2000s. Isuzu, which specialises in light trucks and commercial vehicles, had developed its D-Max pick-up truck under the agreement...

  • LONDON, July 22- Vodafone reported a better-than-expected 2.2 percent rise in first-quarter organic service revenue, marking an eighth consecutive quarterly rise in its main growth measure, aided by a strong performance in Spain and Germany. "In Europe, our growth remains stable despite regulatory pressure on roaming revenue, with good performance in...

  • LONDON, July 22- Vodafone reported a better-than-expected 2.2 percent rise in first-quarter organic service revenue, marking an eighth consecutive quarterly rise in its main growth measure, aided by a strong performance in Spain and Germany. Analysts had predicted a flat result in Europe. Faster growing markets in Africa, Middle East and Asia-Pacific grew by...

  • *WeChat almost unknown in some part of Africa. The move is leading the South Africa- China joint venture down a fiercely competitive path as Facebook's WhatsApp is already part of the social media fabric in most African countries. Africa is not often the scene of battles between tech giants, but the outcome could help determine who can turn the exponential growth...

  • FRIDAY, JULY 22 BEIJING- Chinese Premier Li Keqiang will hold a roundtable with World Bank President Jim Yong Kim, International Monetary Fund Managing Director Christine Lagarde, World Trade Organization Director-General Roberto Azevedo, International Labor Organization Director-General Guy Ryde, Organization for Economic Cooperation and...

  • *Fund to meet over 3rd Ghana review late August. ACCRA, July 21- Ghana's parliament has taken a step towards passing a law on central bank reform that could breach a key tenet of its $918 million aid deal with the International Monetary Fund, parliamentary and finance sources told Reuters. Until 2014, Ghana had one of Africa's fastest-growing economies based on...

  • July 21- Confidence in prospects for the global economy has been dented following Britain's vote to leave the European Union, with a growing view that monetary policy is a fading force and many governments now need to borrow and spend, Reuters polls showed. "Given how fragile the global economy is nearly eight years after the start of the global financial crisis,...

  • DHAKA/ NEW YORK, July 21- Jupiter. That single word, by a stroke of luck, helped stop the Federal Reserve Bank of New York from paying nearly $1 billion to the cyber-criminals behind a notorious bank heist earlier this year, according to sources familiar with the incident. They were incorrectly formatted at first; they were mainly to individuals; and they were very...

  • *Wall Street headhunters get calls from European banks. LONDON/ NEW YORK July 18- Market ructions caused by Britain's decision to leave the European Union are set to widen the gulf between Wall Street and European investment banks, potentially leaving the continent without its own global champion. Since Britain's vote to leave the European Union, some...

  • NEW YORK, July 21- Brewers Anheuser-Busch InBev and SABMiller received U.S. antitrust approval for their $107 billion merger on Wednesday, bringing the largest-ever consumer products deal a big step closer to completion. The deal has already been cleared by Australia, Europe and South Africa, and AB InBev said it still expects closure this year.

  • NEW YORK— Anheuser-Busch InBev, the world's largest beer maker, announced Wednesday that it has reached an agreement with the Justice Department that clears the way for U.S. approval of its acquisition of SABMiller. AB InBev, the maker of Budweiser and Bud Light, will sell SABMiller's entire U.S. business to Molson Coors as previously announced as part of the...

  • THURSDAY, JULY 21 JAKARTA- Indonesia central bank rate decision- 0700 GMT. PRETORIA- South African Reserve Bank rate decision- 1300 GMT. MONDAY, JULY 25 JERUSALEM- Bank of Israel interest rate decision- 1300 GMT.

  • NEW YORK, July 20- Anheuser-Busch InBev and SABMiller received approval for their $107 billion merger from U.S. antitrust regulators on Wednesday after the companies agreed to unload beer assets and preserve competition from independent craft brewers. The Belgian brewer will make concessions beyond its publicly stated offer to sell it stake in...

  • NEW YORK, July 20- A senior HSBC Holdings Plc manager has been arrested and charged alongside a former foreign exchange executive with engaging in a scheme to front-run a $3.5 billion transaction by one of the bank's clients, U.S. prosecutors said on Wednesday. Mark Johnson, HSBC's global head of foreign exchange cash trading in London, and Stuart Scott, its...

  • That compared with $131 million, or 26 cents a share, in the same period a year ago and was well ahead of analysts' expectations, on average, of 29 cents a share, according to Thomson Reuters I/B/E/S. It's a deep beat relative to our numbers and the street, " BMO Capital Markets analyst Andrew Kaip said. Newmont, which has mines in the Americas, Africa, Australia and Asia...

  • The U.S.-based miner said adjusted income rose to $231 million, or 44 cents a share, in the quarter to end-June from $131 million, or 26 cents a share, in the same period a year ago. Newmont's stock rose to $40.20 after hours from a $39.29 close. Newmont, which has mines in the Americas, Africa, Australia and Asia lowered its forecast for all-in sustaining costs- the gold...

  • NEW YORK, July 20- U.S. antitrust regulators approved on Wednesday a $107 billion deal to combine the world's top two brewers, Anheuser-Busch InBev and SABMiller, after securing an agreement from the companies to unload U.S. beer assets and preserve competition from independent craft brewers. "The remedy we secured will help preserve and promote competition in...

  • NEW YORK— Anheuser-Busch InBev, the world's largest beer maker, announced Wednesday that it has reached an agreement with the Justice Department that clears the way for U.S. approval of its acquisition of SABMiller. AB InBev, the maker of Budweiser and Bud Light, will sell SABMiller's entire U.S. business to Molson Coors as previously announced as part of the...

  • NEW YORK, July 20- A senior HSBC Holdings Plc manager has been arrested and charged alongside a former foreign exchange executive with engaging in a scheme to front-run a $3.5 billion transaction by one of the bank's clients, U.S. prosecutors said on Wednesday. Mark Johnson, HSBC's global head of foreign exchange cash trading in London, and Stuart Scott, its...