JOHANNESBURG (Reuters) -South African restaurant franchiser Famous Brands reported on Tuesday a 7% fall in interim profit, weighed down by rolling power cuts and the country’s economic challenges. The company reported a headline earnings per share – a profit measure – of 199 cents in the six months ended Aug. 31, down from 215 cents …
South African franchiser Famous Brands posts 7% fall in interim profit Read More »
By Lawrence Delevingne and Herbert Lash (Reuters) -The benchmark U.S. Treasury yield on Monday pulled back after crossing 5% – a 16-year high – but stock indices were mixed and oil slipped amid continued fighting between Israel and Hamas. Higher bond yields and the risk of a wider Mideast conflict soured investor sentiment at the …
Stocks mixed as Wall St eyes elevated Treasury yields, earnings Read More »
By Leigh Thomas PARIS (Reuters) – Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday. If levied, the sum would be equivalent to only 2% of the nearly $13 trillion in …
Global billionaire tax could yield $250 billion – study Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell over 2% on Monday as diplomatic efforts in the Middle East intensified in an attempt to contain the conflict between Israel and Hamas, easing investor concerns about potential supply disruptions. Brent crude futures settled down $2.33, or 2.5%, at $89.83 a barrel. U.S. West Texas Intermediate …
Oil drops over 2% as diplomatic moves in Gaza war ease supply concerns Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar fell against a basket of currencies on Monday, tracking a retreat in U.S. Treasury yields from the 5% level hit earlier in the session, and as traders awaited fresh U.S. economic data due later this week. The yield on the benchmark 10-year U.S. Treasury note …
GABORONE (Reuters) – Botswana President Mokgweetsi Masisi on Monday appointed Cornelius Dekop as the new central bank governor with immediate effect, his government said in a statement. He replaces Moses Pelaelo, who had served as the governor of the Bank of Botswana since 2016. The statement by the Botswana government’s communications department did not provide …
Botswana appoints Dekop as new central bank governor Read More »
By Kopano Gumbi JOHANNESBURG (Reuters) -Kuben Naidoo, one of the deputy governors of South Africa’s central bank, has asked to resign from his position, President Cyril Ramaphosa’s spokesperson said on Monday. Spokesperson Vincent Magwenya said whether the president would accept Naidoo’s resignation, or any date of his departure, was “still under consideration”. Naidoo is one …
South African central bank deputy governor Naidoo asks to resign – presidency Read More »
By Sam Tobin LONDON (Reuters) -Nigeria on Monday hailed a landmark victory after it won its bid to overturn an $11 billion damages bill for a collapsed gas project, in a case a judge at London’s High Court said exemplified the ravages of greed and corruption. Africa’s most populous country had previously been ordered to …
Nigeria wins bid to overturn $11 billion damages for collapsed gas deal Read More »
JOHANNESBURG (Reuters) -The South African rand strengthened on Monday, with analysts saying global drivers including the Israel-Hamas conflict and U.S. economic data were likely to set the tone for trading this week. At 1554 GMT, the rand traded at 18.9225 against the dollar, about 0.6% firmer than its previous close. The dollar index was last …
South African rand strengthens, global factors in driving seat Read More »
(Reuters) – Global ratings agency S&P on Friday downgraded Egypt’s long-term sovereign credit rating by one notch to “B-” , citing the country’s mounting funding pressures. Egypt is battling an economic crisis that has triggered a string of currency devaluations, record inflation, and pushed more of its citizens to seek risky routes out of the …
S&P pushes Egypt’s rating deeper into junk amid funding pressures Read More »
