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/ 26 October 2005

Gold Fields reports net earnings of R39m

Gold Fields reported September 2005 quarter net earnings of R39-million on Wednesday, compared with a loss of R27-million in the June 2005 quarter and earnings of R89-million for the September quarter of 2004. It said in US dollar terms net earnings for the September 2005 quarter equated to -million, compared with a loss of -million in the June 2005 quarter.

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/ 26 October 2005

Zimbabwe to probe foreign funding of opposition

Zimbabwe’s main opposition party, the Movement for Democratic Change, is to be investigated over ,5-million in illegal funds it is said to have received from Ghana, Nigeria and Taiwan, a state-controlled newspaper reported on Wednesday. Under Zimbabwe’s Political Parties Finance Act it is illegal for local parties to receive foreign funding.

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/ 26 October 2005

Anglo American announces rationalisation plan

Anglo American, one of the world’s largest mining groups, plans to reduce its shareholding in gold miner AngloGold Ashanti in order to give it more flexibility to pursue its own strategic agenda, the company said on Wednesday. It may also opt to establish pulp and paper group Mondi as an independent business.

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/ 26 October 2005

New-format @home stores to open

Listed clothing and homeware retailer Foschini will open its very first @home livingspace store on Thursday, a larger-format version of its @home chain offering an expanded range of home decor and furniture. The first @home livingspace store will open in the new Willowbridge shopping centre in Tygervalley, Cape Town.

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/ 26 October 2005

Mboweni: Oil won’t cause inflationary spiral

The South African Reserve Bank (SARB) will not allow the impact of high oil prices to develop into an inflationary spiral, SARB Governor Tito Mboweni warned on Tuesday night. He said the SARB will continue to give explicit content to the CPIX (consumer inflation less mortgage costs) rate target range set by the government.

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/ 26 October 2005

White House goes after The Onion

White House lawyers really have their hands full: Top Bush administration aides are under investigation, the president wants to secure a Supreme Court seat for his top legal aide — and a satirical website is using the presidential seal. Preventing The Onion from using the symbol of United States presidential power became an official matter after a White House lawyer asked the online magazine to remove the seal from its website.