Competition Competition has no evidence of rand manipulation, banks say
The commission says the case highlights the difficulty of prosecuting global and domestic cartels that exploit legal loopholes to delay proceedings
Citibank
Reserve Bank may have helped South Africa avoid a more severe crunch
This is according to some economists, who say the Reserve Bank got ahead of the curve before inflation became entrenched
Hawkish Reserve Bank sees South Africa edge towards a rates hike
Analysts say the Reserve Bank could start tightening monetary policy as early as next month
South Africa’s recovery lags behind emerging market peers Mexico, India
The economy grew for the fourth consecutive quarter, but the country is playing catch-up to its peers
GDP stats: Economy grows, but not enough to secure jobs and long-term recovery
GDP rose 1.2% in the second quarter, but future growth indicators will likely be hit by July’s looting and unrest, as well as a dip in commodity prices
Treasury mulls lower inflation target
Reserve Bank governor Lesetja Kganyago makes a case for a lower target, though the trade union federation prefers job creation
US bank execs warn government shutdown adds to economic risks
Bank executives have warned that weakening sentiment amid a lengthening US government shutdown could economic kill growth
Nigeria orders MTN to refund $8.13bn
This sanction is the latest to hit MTN since it began operations in Nigeria 17 years ago
Competition commission resolute in bank collusion hearings
Despite sustained attacks from banks in the forex hearings, the Competition Commission remains confident of its case
Forex hearings: Competition Commission accused of being ‘vexatious and unreasonable’
After numerous pre-hearings, the matter is finally being heard, well over a year after the Competition Commission referred the case to the tribunal
How will Ramaphosa deal with the public sector wage fight?
The salaries of public servants will test the president’s resolve in finding a solution to the government’s spending problem
Competition Tribunal agrees to Citibank R70m settlement for its role in forex cartel
The bank is the first of 18 banks accused of involvement in a foreign exchange cartel to reach an agreement with the tribunal.
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It’s class apartheid, stupid
Official data tell us that class apartheid, born in April 1994 with features that include durable racism and patriarchy, is now a malevolent juvenile delinquent.As with racial apartheid two decades ago, the chains of class apartheid have growing cracks and, with enough pressure from below, can also be broken.
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T5 chaos to cost BA up to £25-million
Baggage handling chaos at London Heathrow’s new Terminal Five (T5) is likely to cost British Airways up to £25-million (,7-million), analysts at Citibank said on Monday. Nearly 250 flights have been cancelled since Thursday’s troubled opening of the ,6-billion showcase terminal.
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Wall Street cringes as Citigroup revives fears
Fear and mistrust gripped Wall Street on Monday after Citigroup’s CEO quit in the wake of mounting credit losses and an influential money manager called the subprime mortgage market a ”-trillion problem”. US stocks followed European shares lower, while safe-haven bonds rallied and even the downtrodden dollar ticked up.