Business
South Africa business confidence at new 5-year low
JOHANNESBURG - South Africa's business confidence index (BCI) fell to a new 5-year low of 89.9 in September as a global credit crisis dampened sentiment, a survey showed on Tuesday.
Financial crisis: Stock market suffers its worst fall in history
LONDON - The UK stock market has suffered its worst one-day fall in history as the banking crisis intensified. The FTSE-100 index of Britain's biggest companies dropped by 391.06 points - its steepest ever fall - to end the day down 7.9 per cent....
World stocks tumble, as crisis escalates
LONDON (Reuters) - World stocks dived to three-year lows on Monday as investors fled to government bonds and the low-yielding yen, fearing efforts by policymakers to contain the credit crisis might not be enough to prevent a recession....
New Dawn Mining Suspends Gold Production in Zimbabwe
TORONTO (CP) - New Dawn Mining Corp. (ND), a Toronto-based miner with operations in southern Africa, says it has suspended gold production at the Turk mine in Zimbabwe and placed the mine on temporary "care and maintenance" effective Friday. ...
Hint of economic optimism takes root in Zimbabwe
JOHANNESBURG, HARARE — Augustine Mhende did something recently he had not done for years. He took his order books out of the refrigerator, which he had been using as a cabinet in the absence of electricity, and set about figuring out what he would need to restock the shelves of his general store in a Harare slum. Current contents: some matches, a few packs of cigarettes and a couple of boxes of soap....
UK's hands tied in rescuing economy
LONDON (Reuters) - Britain, which is in a lending drought every bit as serious as the United States', is far less able to mount a government rescue and may well come out much worse....
Old Mutual is rocked by US Credit crisis and resignations
JOHANNESBURG - OLD Mutual suffered another change in leadership and was still vulnerable to the US credit crisis, Moody’s Investors Service said yesterday. The ratings agency said Old Mutual’s credit profile was under pressure due to deteriorating credit quality at Old Mutual Financial....
Zimbabweans to Future Government: Deal With Economy
ANALYSIS -- Although Zimbabwe's political rivals in mid-September signed a historic agreement to share power, they have yet to agree on the allocation of key ministerial portfolios such as those of defense, finance, and information. At the core of the political agreement lies the priority to turn around the national economy, which not surprisingly, is also the issue that is of greatest concern to Zimbabweans....
"Long and painful recession" - Bush
WASHINGTON - President George W. Bush warned on Wednesday that the United States was in the middle of a serious financial crisis that could push the economy into a long-term recession if the government did not act....
Old Mutual had $ 237 million exposure to AIG
JOHANNESBURG - Old Mutual, the insurance group with listings in London and Johannesburg, had exposure of $237 million (R2 billion) to American International Group (AIG), the insurer now mostly owned by the US government, it said yesterday....
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