Jim O'Neill, former chairman of Goldman Sachs Asset Management, says that - compared to the past decade - Brazil's economy is not in bad shape.» Read More
*Move will cut over half of Amplats workforce. *CEO says would prefer to sell assets in one go. JOHANNESBURG, July 21- World number-one platinum producer Anglo American Platinum is to sell a swathe of its most labor-intensive South African mines after a five-month strike shattered its hopes of ever making them profitable.
*South Africa's union turf war rumbles eastward. MARULA PLATINUM MINE, South Africa, July 20- When a wildcat strike hit Impala Platinum's Marula mine in South Africa's Limpopo province this month, union leaders there had no idea it was coming.
LISBON, July 19- Angola's president personally ordered that the state guarantee up to $5.7 billion in troubled loans belonging to the Angolan unit of Portugal's financially compromised Banco Espirito Santo, a Portuguese newspaper said on Saturday.
JOHANNESBURG, July 18- South African pension manager Alexander Forbes priced its stock market listing in the middle of its marketed range on Friday, raising 3.7 billion rand in Africa's second-largest initial public offering this year. The pricing points to fairly strong demand when the company lists on the Johannesburg bourse next Thursday, a trader said.
*Woolworths confident of securing Country Road deal. SYDNEY/ JOHANNESBURG July 17- South Africa's Woolworths cleared the final hurdle to its $2 billion takeover of David Jones after an Australian court gave the upscale clothing and food retailer the green light on Thursday.
JOHANNESBURG— Severe turbulence struck a South African Airways plane that was heading to Hong Kong, injuring 20 people before the aircraft landed safely on Wednesday, the airline said. Medics were waiting at the Hong Kong airport to assist passengers on SA286, which had departed Johannesburg on Tuesday, the airline said in a statement.
WASHINGTON— Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.
CONAKRY, Guinea/ KENEMA, Sierra Leone, July 13- G overnments and health agencies trying to contain the world's deadliest ever Ebola epidemic in West Africa fear the contagion could be worse than reported because suspicious locals are chasing away health workers and shunning treatment.
*Palladium hits new 13-1/ 2 year peak. NEW YORK/ LONDON, July 9- Gold edged higher on Wednesday, holding above $1,320 an ounce, as investors bought into bullion-backed funds anticipating a modest or downbeat assessment of the U.S. economy in Federal Reserve's latest meeting minutes. Palladium rose to a 13-1/ 2 year high for a second day, and platinum rallied too.
LONDON, July 9- Gold prices firmed on Wednesday, climbing back above $1,320 an ounce, as fresh inflows into bullion-backed funds indicated rising investor confidence the metal ahead of the release of the latest Federal Reserve minutes.
*Tsogo Sun to buyback shares worth $260 mln from SABMiller. LONDON/ JOHANNESBURG July 7- SABMiller will sell its $1 billion stake in South Africa's top gaming and hotel group Tsogo Sun, the brewer said on Monday, giving it cash to beef up its African beer business.
JOHANNESBURG, July 7- Reuters has pieced together a detailed account of the final days of a five-month strike in South Africa's platinum mines, the longest and most costly industrial action in the country's history.
*Platinum strike dragged economy to the brink of recession. JOHANNESBURG, July 7- Forty-eight hours after talks to end South Africa's longest strike hit a brick wall when the mining minister suddenly pulled out, a bishop and an anti-establishment corporate lawyer engineered a deal at a secret meeting in a ritzy hotel.
*Fresh strike at Impala Platinum mine. JOHANNESBURG/ CAPE TOWN, July 4- General Motors suspended production at its main South African plant after a strike hit parts supplies, the U.S. automaker said on Friday, becoming the latest victim of relentless labour unrest in Africa's most advanced economy.
LONDON/ ACCRA, July 4- Tucked in a corner of a Guinness brewery in a run-down part of Ghana's capital, flanked by industrial silos and crates of bottles, stands the Cube, a gleaming mini-factory that may point the way forward for global consumer goods companies in Africa.
*Nampak say 40 pct of workers in metals unit off work. NUMSA was due to meet the main employers' body, the Steel and Engineering Industries Federation of Southern Africa, later on Thursday to try to end the latest strike to hit Africa's most advanced, but ailing, economy.
SYDNEY, July 3- When it comes to resolving a big global food problem, a new breed of farmers and their financial backers are thinking small.
JOHANNESBURG, July 1- More than 220,000 South African engineering and metal workers launched a strike over wages on Tuesday, hot on the heels of a crippling platinum dispute and dealing a further blow to an already weak economy.
LONDON, July 1- A U.S. law on conflict minerals is curbing African warlords' presence around mines in Congo, campaigners say, but its full impact remains unclear, with most firms failing to pinpoint the origin of their metals by a June deadline.
By Jonathan Cable and Rahul Karunakar. June 26- Asia will spearhead gains in global equities in the coming year as ample central bank liquidity boosts shares, according to a worldwide Reuters poll that pointed to more modest gains for developed markets.