South Africa


  • BUSINESS-NEWS-SCHEDULE AT 1230 GMT / 8.30 AM ET Monday, 4 Aug 2014 | 8:56 AM ET

    LONDON- Europe's largest bank HSBC warns that regulators' zeal to punish wrongdoing is putting its staff off taking reasonable business risks, as it reports a 12 percent drop in first-half profit. Portugal in $6.6 bln rescue of Banco Espirito Santo.

  • US-Africa trade faces Ex-Im risk, warns GE's Immelt Monday, 4 Aug 2014 | 7:37 AM ET
    Jeffrey Immelt, chairman and chief executive officer of General Electric.

    The U.S.'s decision to close its Export-Import Bank would damage U.S. companies trying to do business in Africa, GE's Jeff Immelt said.

  • Obama hosts Africa summit with an eye on legacy Monday, 4 Aug 2014 | 6:00 AM ET
    President Barack Obama delivers remarks in the Brady Press Briefing Room.

    President Barack Obama is gathering nearly 50 African heads of state in Washington for an unprecedented summit aimed in part at building his legacy.

  • JOHANNESBURG, July 31- South Africa's Sibanye Gold remains on the hunt for a platinum asset and has Anglo American Platinum's mines in its sights, ready to make a move if the owner decides on either a straight sale or a separate listing for the assets.

  • INSIGHT-Mobile money grows in Africa but hurdles remain Wednesday, 30 Jul 2014 | 10:13 AM ET

    *Mobile money faces obstacles to growth outside Kenya,. DAKAR, July 30- IT technician Mansour Diagne is one of the lucky few in Senegal to have a bank account, but when he needs to pay some bills or transfer cash to his sisters on the other side of the crowded capital Dakar, he reaches for his mobile phone.

  • *Investors drawn by steady earnings, Africa prospects. JOHANNESBURG, July 24- Shares in Alexander Forbes surged 12 percent on their return to the Johannesburg bourse on Thursday, valuing the retirement fund manager at almost $1 billion as it dazzled investors with the prospect of steady earnings and growth across Africa.

  • *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.

  • Brazil's economy: Is it really that bad?     Thursday, 17 Jul 2014 | 3:30 AM ET

    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.

  • Can BRICS bank challenge IMF dominance?     Thursday, 17 Jul 2014 | 3:30 AM ET

    Jim O'Neill, former chairman of Goldman Sachs Asset Management, discusses whether the BRICS Development Bank can challenge 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.