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/ 21 January 2008
A sharp decline in global equity markets driven by fears of a global economic slowdown and a United States recession has led to a big sell-off on the JSE on Monday. By noon, the JSE’s broader all-share index had lost 3,32% to 25 768,400 points.
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/ 7 December 2007
The end of the year is a good time to examine your finances, but this year take some time to review your domestic worker’s retirement plan. For many households domestic workers form the backbone of the support structure and it’s important to ensure they are provided for when they retire.
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/ 29 November 2007
The Cape High Court on Thursday found former Old Mutual actuary Fred van der Vyver not guilty of the murder of his girlfriend, Inge Lotz. The acquittal brought to an end a dramatic trial that had lasted nine months, which Judge Deon van Zyl described as ”long and emotion-packed”.
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/ 21 November 2007
Four youths appeared in the Grahamstown High Court on Wednesday on charges of murder and robbery with aggravating circumstances. They are alleged to have killed their victim by repeatedly stabbing him, and dropping a 50kg rock on his head.
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/ 9 November 2007
The JSE continued to advance by noon on Friday as BHP Billiton’s announcement from Thursday flowed through the market. On Thursday, BHP Billiton admitted to having made a play for rival Rio Tinto, which put to rest days of market speculation over whether BHP Billiton was in fact courting Rio Tinto over a potential tie-up.
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/ 5 November 2007
The JSE remained weak at midday on Monday, in line with overseas markets as the troubled US subprime housing market continues to unsettle investors worldwide. At noon, the JSE’s all-share index was off 0,96%, resources fell 1.70%, the platinum mining index weakened 1,74%, but the gold mining index added 0,98% as the gold price stayed above $800/oz.
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/ 2 November 2007
The JSE recouped some of its earlier losses, but remained lower at midday on Friday on hopes that United States jobs data due out later in the day would support a case for another rate cut in the US. The local bourse was down more than 340 points in early trade following similar drops overseas stemming from renewed US subprime housing-market concerns.
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/ 1 November 2007
Hammer murder accused Fred van der Vyver has lost a quarter of his weight since his girlfriend Inge Lotz was killed, the Cape High Court heard on Thursday. The revelation was made by the senior advocate in his defence team, Henri Viljoen, in closing argument. Van der Vyver is charged with killing Lotz in her Stellenbosch flat in March 2005.
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/ 1 November 2007
After being up about 280 points from its previous close at one stage, the JSE had turned around by midday on Thursday in what traders described as "solid profit-taking." By noon, the all-share index was off 0,31%, led by a 0,57% fall in resources, a 0,98% decline in the gold-mining index and a 1,58% easing in the platinum-mining index.
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/ 17 October 2007
At the end of an emotional day of testimony, murder accused Fred van der Vyver on Wednesday formally denied that he killed his student girlfriend Inge Lotz. Van der Vyver was in the witness box for the second day, following a successful application by his defence team to reopen its case to hear his testimony.
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/ 16 October 2007
Murder victim Inge Lotz broke down in tears on the morning of her murder, her former boyfriend, Fred van der Vyver, who is accused of killing her, told the Cape Town High Court on Tuesday. Van der Vyver took the stand after an apparently precedent-setting ruling by Judge Deon van Zyl, which allowed the defence to reopen its case when final arguments were already under way.
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/ 11 October 2007
South African petrochemicals and fuels group Sasol has sold 20% of its mining subsidiary to a black women-controlled mining company for R1,9-billion, the company said on Thursday. Sasol said the black women-controlled firm, Ixia Coal, will acquire the stake through the issue of new shares.
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/ 10 October 2007
The JSE remained firm at midday on Wednesday but was off its earlier all time high of 31 291,74. The initial spurt had been prompted by a record close on Wall Street overnight, but European markets are lower and the United States futures are also negative, which brought the JSE back from its record level reached earlier in the session.
The benefits of your pension fund might not necessarily go to the people you nominate. Ultimately trustees of pension funds have to consider financial dependency and financial needs over your own wishes when making payments. This is to ensure that your dependants are taken care of and that those who most need financial help receive it.
Insurer Old Mutual plans to buy back £350-million of its shares, roughly 4% of its capital, as part of a programme to improve capital efficiency, it said on Wednesday. South Africa’s largest insurer had said earlier this year it was not considering major acquisitions and could hand excess cash back to shareholders.
The JSE was firm at midday on Wednesday, driven higher by sharply stronger banks and financial stocks. By noon, the all-share index had collected 0,49% as banks and financials advanced 3,07% and 2,30% respectively. The platinum mining index recovered 0,94% and resources edged up 0,12%.
Murder accused Fred van der Vyver’s legal team has told the Cape High Court it wants him to testify in his own defence. The surprise move came on Tuesday afternoon after the state had already delivered its closing arguments, and Van der Vyver’s advocate Dup de Bruyn had begun his.
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/ 28 September 2007
The Premier Soccer League’s (PSL) newly announced R500-million sponsorship deal with Absa and the five-year R1,6-billion broadcast deal it struck with SuperSport International confirm South Africa as one of the richest football leagues in Africa and the developing world.
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/ 27 September 2007
Foreign-owned companies in Zimbabwe said on Thursday they were assessing the likely effects on their business of a new law forcing them to give local owners majority holdings. The Empowerment Bill, pushed through Parliament by the government on Wednesday, will give Zimbabweans a 51% stake in foreign firms, including the important mining and banking sectors.
The JSE remained firm at midday on Thursday, with platinum miners a feature following strong results from Impala Platinum earlier in the day. A 2% gain on Wall Street overnight and generally firm global bourses were also helping. By noon, the all-share index was 0,82% higher. Resources were 0,75% better and the gold-mining index advanced 0,90%.
The JSE was off its earlier lows by midday on Wednesday as investors looked for value after the recent sharp sell-off. After starting weaker on the back of a sharp fall on Wall Street overnight, the JSE was looking a little better late morning. The Dow shed 2% on Tuesday and Tokyo shares ended down 1,7%, but London shares have turned around.