By Hannah Lang WASHINGTON (Reuters) -The yen staged its biggest one-day rally in almost a year on Thursday after Japanese monetary authorities offered a surprisingly clear hint at a shift in policy, while the euro pared some losses from earlier in the week. The dollar index eased ahead of Friday’s U.S. non-farm payrolls report, under …
Yen surges after BOJ hints at policy shift, sending dollar lower Read More »
By Felix Njini and Clara Denina JOHANNESBURG/LONDON (Reuters) – Anglo American is preparing to freeze spending on growth and widen job cuts in South Africa, going far beyond its initial savings target and paving the way to mothballing some higher-cost platinum mines, sources familiar with the matter said. Anglo’s sweeping spending cuts could be announced …
Exclusive-Anglo American preps sweeping cost cuts as price rout bites – sources Read More »
NAIROBI (Reuters) – A Kenyan judge on Thursday found Facebook’s parent company Meta was not in contempt of court for failing to pay dozens of content moderators that a contractor laid off. Labour judge Mathews Nduma Nderi said Meta did not “deliberately and contemptuously” breach a court order requiring it to pay wages of hundreds …
Kenya judge finds Meta is not in contempt of court Read More »
(Reuters) – The International Monetary Fund’s executive board will meet on Dec. 13 to discuss debt relief for Somalia, the Fund´s spokesperson Julie Kozack told a press conference on Thursday. This would be an “upcoming milestone” for the country, Kozack said, adding that the consideration would be under the heavily indebted poor countries initiative, known …
IMF executive board to meet Dec. 13 to discuss Somalia’s debt relief Read More »
JOHANNESBURG (Reuters) – South Africa is expected to appoint Dan Marokane as Chief Executive of struggling state power utility Eskom, Bloomberg News reported on Thursday, citing unnamed sources. Spokespeople for Eskom and the Department of Public Enterprises, the government department that oversees the power company, declined to comment on the Bloomberg report. Eskom has been …
South Africa to pick Marokane as CEO of utility Eskom -Bloomberg Read More »
JOHANNESBURG (Reuters) -The South African rand gained on Thursday on increasing bets that the U.S. Federal Reserve might implement interest rate cuts early next year. At 1506 GMT, the rand traded at 18.8250 against the dollar, up over 0.7%, while the dollar was last trading 0.25% weaker against a basket of global currencies. A slew …
JOHANNESBURG (Reuters) – South Africa’s current account deficit narrowed sharply in the third quarter of 2023, to 0.3% of gross domestic product (GDP) from a revised 2.7% in the second quarter, central bank data showed on Thursday. In rand terms, the current account recorded a deficit of 19.3 billion rand ($1.02 billion) for the July-September …
South Africa’s current account deficit narrows sharply in third quarter Read More »
PARIS (Reuters) – Societe Generale, France’s third-biggest listed bank, has agreed to sell two African subsidiaries, Societe Generale Burkina Faso and Banco Societe Generale Mocambique, to pan-African banking groups Vista Group, it said on Thursday. The move comes on top of the already announced sale of four other African businesses in Congo Brazzaville, Equatorial Guinea, …
SocGen agrees to sell two more African businesses Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -A gauge of global equities slipped on Wednesday and was poised for a third straight decline, while longer-dated U.S. Treasury yields fell after economic data kept intact expectations the Federal Reserve has leeway to cut rates next year. U.S. private payrolls rose by 103,000 jobs last month, the ADP …
Stocks slip, 10-year Treasury yield falls as rate cut timing weighed Read More »
By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil will target annual project spending of between $22 billion and $27 billion through 2027, the oil major said in an update on Wednesday that largely continues existing spending and production goals. The largest U.S. oil producer laid out plans to boost spending on nascent lithium and low carbon …
Exxon Mobil forecasts increases in project spending, oil output Read More »
