Staff Reporter
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/ 20 November 2007

Citigroup may have to write off $15bn

United States banking titan Citigroup may have to write off -billion in soured investments including mortgage losses in coming months, a report by Goldman Sachs predicted on Monday. Citigroup, the US’s second-largest bank by market worth, is already reeling from its exposure to the US housing downturn and tighter credit markets.

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/ 20 November 2007

California sues 20 firms over toxic toys

California on Monday launched a lawsuit against 20 companies, accusing them of manufacturing or selling toys with illegal quantities of lead, a statement said. California attorney general Jerry Brown said the firms — including Mattel and Toys ”R” Us — are being sued for knowingly exposing children to potentially dangerous lead levels.

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/ 20 November 2007

Amnesty granted to almost 400 Zambian convicts

Zambian President Levy Mwanawasa has granted amnesty to almost 400 convicts in a bid to decongest his country’s disease-infested prisons, an official announced on Tuesday. Mwanawasa amnestied 14 prisoners who were on life sentences and 379 others who were serving various jail terms, a prisons official, Daniel Chiwela, said.

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/ 20 November 2007

Get ready for Hansie, the movie

The filming of <i>Hansie</i> — based on the life of the late South African cricket captain Hansie Cronje — has been completed, its producer said on Tuesday. "The movie is looking beautiful and we are very happy with the quality of the scenes we have shot," producer Frans Cronje, the brother of the cricketer, said in a statement.