NAIROBI (Reuters) – Kenya’s highways authority and U.S. infrastructure investment manager Everstrong Capital have signed a $3.6 billion agreement to build a 440 km (273 miles) highway between the capital and port city Mombasa, the company said on Thursday. A bigger highway between Mombasa and Nairobi has been on the wish list of successive governments …
Kenya and U.S. investment manager agree $3.6 billion highway deal Read More »
JOHANNESBURG (Reuters) -South African gaming, hotels and entertainment group Tsogo Sun on Thursday posted a 6% fall in full-year adjusted headline earnings, with margins eroded by the cost of diesel used to combat rolling blackouts imposed by state utility Eskom. The owner of Montecasino posted adjusted headline earnings of 1.7 billion rand ($92.6 million) for …
South Africa’s Tsogo Sun posts profit fall as diesel costs bite Read More »
JOHANNESBURG (Reuters) -South African lender Investec reported on Thursday its full-year profit rose 9.1%, buoyed by growth in lending books and higher average interest rates. The bank, which also operates in Britain and is listed in London, reported headline earnings per share of 72.9 pence for the year to March 31 compared to 66.8 pence …
Lender Investec posts 9.1% rise in full-year profit Read More »
By Melanie Burton and Scott Murdoch PERTH/HONG KONG (Reuters) -BHP will stand firm on the structure and value of its latest takeover proposal for Anglo American, focusing instead on allaying its target’s concerns around execution risks over the coming week, sources said on Thursday. The world’s biggest listed mining group now has until May 29 …
BHP will not relent on structure, value of $49 billion Anglo offer, say sources Read More »
By Stephen Culp NEW YORK (Reuters) -Wall Street ended lower and oil prices fell on Wednesday as investors parsed minutes from the U.S. Federal Reserve’s most recent policy meeting. Nvidia Corp’s shares rose over 4% in extended trading after the megacap chipmaker forecast quarterly revenue above estimates. All three major U.S. stock indexes turned decisively …
US stocks close down, oil tumbles after Fed minutes; Nvidia reports Read More »
By Wendell Roelf and Kate Abnett CAPE TOWN/BRUSSELS (Reuters) – South Africa is considering lodging a formal complaint at the World Trade Organization against the European Union’s “protectionist” carbon border levy, Trade Minister Ebrahim Patel said on Wednesday. The EU’s proposed carbon border adjustment mechanism (CBAM), which will impose charges on imports of carbon-intensive goods …
South Africa considers complaining to WTO against EU carbon border tax Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against the euro on Wednesday after minutes of the last Fed meeting showed officials acknowledging disappointment over recent inflation readings, while the pound held its gains after British Prime Minister Rishi Sunak called for a general election for July 4. Federal Reserve officials at their …
Dollar higher against euro as Fed minutes support Read More »
By Nicole Jao NEW YORK (Reuters) -Oil prices fell more than 1% on Wednesday, retreating for a third straight day, as Fed officials rekindled worries about oil demand when they indicated interest rate cuts might be deferred due to sustained inflation. Brent crude futures settled 98 cents lower, or 1.18%, at $81.90 a barrel. U.S. …
Oil slips for a third straight day on prospect of US rates staying high Read More »
By Clara Denina and Felix Njini LONDON (Reuters) -Anglo American has agreed to a one-week extension for BHP Group to make a binding takeover offer, it said on Wednesday, after rejecting a third proposal from its rival that valued it at 38.6 billion pounds ($49.18 billion). BHP, the world’s biggest listed mining group, has now …
Anglo leaves door open to engage with BHP after spurning third offer Read More »
JOHANNESBURG (Reuters) – The South African rand fell against the dollar on Wednesday as traders awaited Federal Reserve meeting minutes for hints on the interest rate path of the world’s biggest economy. At 1501 GMT, the rand traded at 18.2475 against the dollar, about 1% weaker than its previous close. The local currency hit 18.0300 …
South African rand falls as traders await Fed meeting minutes Read More »
