JOHANNESBURG (Reuters) -South Africa’s rand weakened on Thursday against a stronger dollar as data painted a mixed picture of the U.S. economy. At 1544 GMT, the rand traded at 18.9300 against the dollar, nearly 1.3% weaker from its previous close. South Africa’s July producer inflation and trade figures did little to prop up its currency, …
South African rand weakens against stronger dollar Read More »
JOHANNESBURG (Reuters) – South African fashion retailer Truworths on Thursday posted a 12% rise in annual profit after it opened new stores and implemented cost saving measures to counter a tough inflationary environment. For the year ended July 2, Truworths reported headline earnings per share – a profit measure – of 8.73 rand, up from …
South African fashion retailer Truworths posts 12% rise in annual profit Read More »
By Felix Njini NAIROBI (Reuters) -Impala Platinum Chief Executive Nico Muller said a rapid decline in palladium and rhodium prices that has squeezed profits, lowered dividend payouts and shifted the focus to cutting costs caught platinum miners off guard. Muller said there was no immediate risk of mine closures, but management would weigh each mine’s …
Impala boss says speed of palladium and rhodium price falls was a surprise Read More »
(Reuters) – Atlanta Federal Reserve Bank President Raphael Bostic laid out a case on Thursday against any further U.S. interest rate hikes, saying monetary policy is already tight enough to bring inflation back down to 2% over a “reasonable” period. “I feel policy is appropriately restrictive,” Bostic said in remarks prepared for delivery to the …
Fed’s Bostic says U.S. interest rates are high enough Read More »
By Libby George and Rachel Savage LONDON/JOHANNESBURG (Reuters) -Gabon’s military coup sparked the steepest daily drop in its dollar bonds on Wednesday since the height of the COVID-19 pandemic and came just weeks after the country carried out continental Africa’s first debt-for-nature swap. A group of senior military officers in the Central African nation announced …
Gabon coup triggers dollar bond slump, raises funding questions for region Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended higher and the dollar extended its losses on Wednesday, as a slew of disappointing economic data raised the probability that the Federal Reserve will press the pause button in its efforts to rein in inflation. All the three major U.S. stock indexes advanced, with the …
Wall Street gains, dollar softens as weak data signals Fed pause Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices gained on Wednesday as U.S. government data showed tighter-than-expected crude supplies, while concerns about the Chinese economy limited gains. Brent crude futures for October rose 37 cents to settle at $85.86 a barrel. The October contract expires on Thursday and the more active November contract was up …
Oil prices rise after U.S. data shows tighter crude supply Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar dropped to a two-week low against the euro and a basket of currencies on Wednesday after data showed that U.S. private payrolls rose less than expected in August, adding to expectations that the Federal Reserve would stop raising interest rates. Softening data this week has raised …
Dollar falls to two-week low as economic data softens Read More »
JOHANNESBURG (Reuters) -The South African rand slipped on Wednesday after data showed the country’s private sector credit grew slower than expected and the budget deficit widened. At 1612 GMT, the rand traded at 18.6450 against the dollar, nearly 1% weaker than its previous close. Central bank data showed private sector credit grew 5.87% year-on-year in …
South African rand falls as domestic data disappoints Read More »
JOHANNESBURG (Reuters) -Aspen Pharmacare said on Wednesday it had secured agreements with three global companies to produce their drug at its French facility, as it seeks to monetise billions of rand of loss-making investment. The South African pharmaceutical major, however, cautioned the impact of the agreements on revenue and profit would only come in late …
South Africa’s Aspen signs drug making deals to utilise idle capacity Read More »
