Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Stocks in Asia traded mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
Hong Kong democracy activist Joshua Wong walked free from prison on Monday after serving nearly five weeks for contempt of court, pledging to join a mass protest movement...China Politicsread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
delay@ (Adds detail, background)
JOHANNESBURG, June 10 (Reuters) - Shares in South African sugar producer Tongaat Hulett were suspended from trade on the Johannesburg and London stock exchanges on Monday at the company's request as it prepares to restate its financial results.
Tongaat's shares have fallen 42% since it first said in April that it would restate its 2018 financial results.
Last month it also delayed the release of its 2019 financial results, for the year ended March 2019, to October from May.
"Owing to the Board's concern that there is insufficient information in the market to enable investors to make informed decisions, the Board has voluntarily approached the JSE with a request for a suspension of the listing of the Companys securities," Tongaat said in a statement on Monday.
It reiterated that it aimed to publish its financial results for the year ended March 2019 by the end of October and said its shares would resume trade then, or earlier if sufficiently reliable information can be released.
Its shares were down 5.30% at 13.21 rand in Johannesburg when they were suspended just after 1300 GMT, in the middle of the trading day.
The company said it was continuing with its strategic review and turnaround strategy that would include cost reductions, the sale of possible assets and restructuring of operations.
Tongaat, which has operations in South Africa, Mozambique and Zimbabwe, said last month that its 2018 results could face a potential hit of up to 4.5 billion rand ($306 million) following a review of its accounting practices.
Tongaat, which has a primary listing on the Johannesburg stock exchange and a secondary listing on the London stock Exchange, had said in April that it would restate prior financial information after a formal review revealed certain accounting practices that needed to be re-examined. (Reporting by Tanisha Heiberg; editing by David Evans and Susan Fenton)