Reuters Africa Business

By Caroline Valetkevitch NEW YORK (Reuters) -The Nasdaq ended slightly lower on Friday but registered its biggest weekly percentage drop since early April as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields inched lower. Chip and other tech-related stocks have been some of the biggest losers this …

Nasdaq has worst week since April amid AI rally jitters, US yields slip Read More »

By Stephen Culp NEW YORK (Reuters) -The Nasdaq closed lower but the S&P 500 and the Dow eked out late-session gains on Friday as investors turned the page on a roller-coaster week with economic worries, the longest-ever federal government shutdown, and sky-high tech stock valuations dampening risk appetite. All three major U.S. stock indexes spent …

Wall St ends mixed on signs of shutdown progress Read More »

By Hannah Lang and Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar fell against major currencies including the euro and Swiss franc on Friday as investors sought to balance the Federal Reserve’s hawkish tilt against lingering concerns over the U.S. economy. U.S. Treasury yields were slightly lower amid the extended government shutdown in Washington. The …

Dollar ends week lower amid Fed outlook, US government shutdown Read More »

GABORONE (Reuters) -The mining ministers of Botswana and Angola held talks in Botswana’s capital on Friday on cooperation in the diamond sector, as the two Southern African countries seek to take control of Anglo American diamond unit De Beers. Botswana, which owns 15% of De Beers and contributes 70% of its annual rough diamond production, …

Botswana and Angola hold talks as both seek control of De Beers Read More »

By Nqobile Dludla JOHANNESBURG (Reuters) -South Africa’s TFG said on Friday it will tighten costs and close underperforming stores after erratic monthly sales and soft winter demand led to a 21.3% half-year earnings fall. As shoppers faced tough conditions across markets, TFG CEO Anthony Thunstrom highlighted monthly sales in Africa, which were flat in June …

South Africa’s TFG to cut costs as profit slumps on weak demand Read More »