The former CEO of Enron’s broadband division reported to a Louisiana prison on Tuesday to serve 27 months for securities fraud related to his role in the company’s 2001 collapse, his lawyer said. Ken Rice (48) pleaded guilty to one count of securities fraud in 2004 and assisted prosecutors in other Enron cases.
A South African strike over wages entered a third day on Wednesday after shutting down one petrol refinery, partially hobbling another and affecting pharmaceutical and packaging companies. State-owned PetroSA shut its 36 000-barrel-per-day Mossel Bay gas-to-liquid plant on Tuesday, saying it had stock to supply Mossel Bay for the next three weeks.
South Africa’s Purchasing Managers Index (PMI) rose for the first time in four months to 57,7 in July on a seasonally adjusted basis, pointing to buoyant business conditions. The index, which tracks trends in the manufacturing sector, rose from 56 in June as local and international demand lifted sales.
Taps in Harare are running dry even though the city’s main supply dams are more than 60% full, according to figures from the Zimbabwe National Water Authority. With more than half of Harare’s three million inhabitants now experiencing water shortages, residents are resorting to desperate measures to find supplies.
House price inflation rose by 10,4% year-on-year (y/y) in July, down from 18,8% jump in June and the 10,9% increase May, the Standard Bank’s residential property gauge showed on Wednesday. The growth brought the median house price to R585 000 from R620 000 in June and R600 000 in May.
As Cristiano Ronaldo shielded his eyes from the blinding explosion of flashbulbs, it was clear the Manchester United winger’s transition from pride of Old Trafford to global phenomenon was complete. After a magnificent season in which his dazzling array of feints and flicks bewitched defenders and fans in equal measure, Ronaldo has become one of the game’s new icons.
The controversy surrounding former Australia coach Eddie Jones advising the Springboks looks set to grow after it was revealed on Tuesday he had held talks with a view to staying on until the end of the South Africans’ campaign. Andy Marinos, rugby manager of the South African national teams, confirmed that there were ongoing talks with Jones.
Niggling injuries of the kind that needed time to heal kept six Springbok rugby players sidelined on Tuesday evening as the World Cup squad continued its strenuous build-up to the World Cup in France. Sitting it out while their teammates sweated were Bryan Habana, Wikus van Heerden, Ashwin Willemse, Francois Steyn, Danie Rossouw and the latest addition to the side, Bismarck du Plessis.
South African cyclist Ryan Cox (28) died in the Kempton Park Hospital at about 5am on Wednesday. Cox, who rides for Team Barloworld, although he was not part of the team for the Tour de France, underwent a vascular lesion operation in Europe three weeks ago. He returned to South Africa to recuperate, but his condition deteriorated on Monday.
The JSE was down sharply at midday on Wednesday as United States sub-prime issues and low quality mortgage loan concerns led the Dow lower, which had a knock-on effect on the rest of the world. At 12.03pm, the JSE all-share index fell 2,79%, with resources dumping 3,25%, and the gold and platinum mining indices tumbling 3,75% and 4,63% respectively.