Barclays mulls purchase of Lehman assets

Barclays said on Tuesday it was in discussions with Lehman Brothers about buying certain assets of the stricken United States investment bank.

It's about power, stupid

Mandy Rossouw put a similar set of questions to both Zanu-PF and the Movement for Democratic Change to assess the political temperature.

Will foreign companies stay the course in Zimbabwe?

British companies doing business in Zimbabwe must find the noise from their government and the international community disconcerting.

The big firms that prop up Zim

Last month British Prime Minister Gordon Brown urged British companies to stop investing in Zimbabwe, saying his government was preparing sanctions.

SA bank charges may be too high, says commission

South African banking charges were higher than they would be at competitive levels, according to a Competition Commission enquiry report.

Mugabe warns business to get on side

President Robert Mugabe rejected fresh calls for economic reform at a rare meeting with the heads of Zimbabwe’s largest business groups this week.

Zimbabwe gloats over UN stalemate

The Zimbabwe government savoured a rare diplomatic victory on Wednesday after the United Nations Security Council failed to agree on how to respond to the country's post-election crisis. Western countries such as former colonial power Britain had been trying to steer the council to adopt a common strategy on the situation in Zimbabwe.

Warning sounded over Zim equity law

A new equity law passed by President Robert Mugabe to ensure the population gets a majority stake in public-owned firms will plunge Zimbabwe into deeper economic woes, analysts predicted on Monday. "It will entail the destruction of the economy," Harare-based economist Godfrey Kanyenze said.

Former Absa chief appointed at Sappi

Former Absa CEO and chairperson Dr Danie Cronje has been appointed as the independent non-executive chairperson of Sappi, the global pulp and paper group announced on Wednesday. He succeeds Eugene van As, whose impending retirement as chairperson and from the board was announced earlier.

Absa says 2007 earnings rise 19%

Absa increased full-year headline earnings per share by about 19% and played down the potential impact of a slowdown in the domestic economy. Absa said on Tuesday that headline EPS rose to R14,01 in 2007 from R11,81 while headline earnings increased to R9,413-billion from R7,872-billion.

Absa sees higher 2007 earnings

Absa, South Africa's biggest retail bank, said on Monday it expects group headline earnings per share and EPS to be between 15% and 19% higher in 2007. Absa, which is majority-owned by Britain's Barclays, said headline EPS and EPS for the bank unit would be between 25% and 28% higher than the previous year.

Absa announces increase in bank charges

Absa will increase its bank charges by 4,2% on average for 2008, it announced on Wednesday. However, it said a number of products and services would cost less or be free of charge from January 1. The new pricing was aimed at encouraging customers to use the cheaper digital banking rather than going into branches, Absa said in a statement.

Just another day at the Tiriri health centre

A blue pick-up truck pulls to a sudden halt outside Tiriri health centre in Uganda. Many hands surround it, lift the woman lying in the back and carry her inside to the examination room. She cannot speak and her breathing is laboured. Sister Mary Magdalene Anyait, the only member of the medical staff, has a look and takes the woman's blood pressure.

PSL to pay soccer bosses R70m

The Premier Soccer League (PSL) has set aside R70-million with which to pay members as a "token of gratitude" for their part in securing rights and sponsorship deals. The amount would be "apportioned to the members of the negotiating team and other role players" and would be a one-off payment.

SA govt against apartheid lawsuit in US

The responsibility of addressing South Africa's apartheid past lies within the country itself and not the United States courts, Justice and Constitutional Development Minister Brigitte Mabandla said on Friday. In a statement issued by her office, she reiterated the government's stance against the case brought by a group of apartheid victims in US courts.

US court gives hope to apartheid victims

Victims who filed suit for $400-billion against United States businesses allegedly complicit with the former South African apartheid regime have found new hope following a federal court ruling in the US. "The appeal court decision is a major victory," said Michael Hausfeld, a lawyer for the victims on the heels of Friday's decision by a Manhattan federal court.

Northern Rock shares plunge, customers flee

Thousands of customers queued to withdraw savings from embattled British bank Northern Rock on Monday and its shares plunged again, heightening pressure for a sale of the business or its assets. Britain's fifth-biggest mortgage lender said there was no need for investors or customers to panic

UK bank Northern Rock faces break-up talk

Troubled British bank Northern Rock faced break-up rumours on Sunday as it sought to reassure panicking customers and investors following an emergency bail-out by the Bank of England. Worried customers besieged Northern Rock on Friday and Saturday to withdraw their savings -- despite assurances that it would not fall victim to the global credit squeeze.

Court says Zuma may not intervene in state's probe

African National Congress (ANC) deputy president Jacob Zuma may not intervene in the state's plan to extend an investigation into him to the United Kingdom. Judge Willie van der Merwe ruled against an application brought by Zuma to intervene in the state's request to obtain information from banks and lawyers.

European shares fall as fears grow over US outlook

European stocks fell by midday on Monday in a choppy session as gains in commodity stocks were overshadowed by mounting concern that the United States economy could be headed for recession after Friday's dismal jobs report. Oil and gas shares were the top performers on the broader European market in spite of a fall in crude oil futures.

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