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| Sibanye Gold to lay off 1,110 due to fire at S.African mine Wednesday, May 29, 2013 12:39 AM PDT JOHANNESBURG (Reuters) - South African gold producer Sibanye Gold said on Wednesday 1,110 workers will be laid off because of a fire at its Beatrix West shaft. It will keep parts of the shaft open for as long as they remain profitable, the company said. Full Story | Top |
| CA-BUSINESS Summary Wednesday, May 29, 2013 12:33 AM PDT Shares, German bonds fall as Fed stimulus back in focus LONDON (Reuters) - European stocks and German bond prices fell on Wednesday as robust U.S. economic data fanned speculation the Federal Reserve may taper its bond-buying program. But analysts said the weakness in equity markets could prove short-lived as the growth momentum implied by Tuesday's figures for home prices and consumer confidence encouraged investors to focus on the better returns shares offer over bonds. ... Full Story | Top |
| Shares, German bonds fall as Fed stimulus back in focus Wednesday, May 29, 2013 12:33 AM PDT  By Richard Hubbard LONDON (Reuters) - European stocks and German bond prices fell on Wednesday as robust U.S. economic data fanned speculation the Federal Reserve may taper its bond-buying program. But analysts said the weakness in equity markets could prove short-lived as the growth momentum implied by Tuesday's figures for home prices and consumer confidence encouraged investors to focus on the better returns shares offer over bonds. "We still see the rally continuing as the U.S. ... Full Story | Top |
| Weak S.Africa GDP drags rand to fresh 4-year lows Wednesday, May 29, 2013 12:19 AM PDT  JOHANNESBURG (Reuters) - The rand plunged to a fresh 4-year low against the dollar for the second straight session on Wednesday, dragging bond yields to over one-month highs as poor investor sentiment weighed. Weaker-than-expected economic growth data in the previous session saw the rand sell off heavily. Expectations that the U.S. Federal Reserve will scale back quantitative easing added to the currency's woes. Emerging market currencies trading against the dollar have weakened on the likelihood that inflows fueled by the Fed's stimulus programme could dry up. ... Full Story | Top |
| AfDB to create large fund for African infrastructure investment Tuesday, May 28, 2013 11:57 PM PDT  Marrakesh (Reuters) - The African Development Bank (AfDB) is negotiating with its members to create a huge fund to finance infrastructure in Africa, an official of the Bank told Reuters. The Bank estimates the need of the African continent at $100 billion every year for the current decade. The bank's annual assembly, held in Marrakesh, will decide of the size of the funds on Thursday. ... Full Story | Top |
| Thai court rules troops responsible for Italian reporter's death Tuesday, May 28, 2013 11:56 PM PDT  By Amy Sawitta Lefevre BANGKOK (Reuters) - An Italian photo-journalist who was shot dead in Bangkok while taking pictures of a military crackdown on an anti-government protest in 2010 was killed by a bullet fired by a soldier, a Thai court ruled on Wednesday. Fabio Polenghi, 48, was killed on the morning of May 19 when troops moved in to disperse "red shirt" supporters of former Prime Minister Thaksin Shinawatra, who had been camped in the center of the capital for weeks, demanding an early election. ... Full Story | Top |
| Kenya tea prices steady at latest auction Tuesday, May 28, 2013 11:52 PM PDT  NAIROBI (Reuters) - The average price of Kenya's top-grade Broken Pekoe Ones tea held steady at $3.27 per kg at auction on Tuesday, unchanged from last week's sale, trader Africa Tea Brokers (ATB) said. Kenya is the world's leading exporter of black tea, which is a major source of foreign exchange, earning 112 billion Kenyan shillings last year. ATB said that Best Broken Pekoe Ones (BP1) sold at $2.90-$3.65 per kg, from $3.02-$3.51 last week. Best Pekoe Fanning Ones (PF1) fetched $2.50-$2.94 per kg from $2.82-$3.24 previously, the broker said. ... Full Story | Top |
| Angola leaves benchmark lending rate unchanged at 10 pct Tuesday, May 28, 2013 11:38 PM PDT LISBON (Reuters) - Angola's central bank has left its benchmark interest rate unchanged at 10 percent, the bank said in a statement after a meeting of its monetary policy committee on Tuesday. The central bank last changed the lending rate in January after leaving it at 10.25 percent for one year. Full Story | Top |
| Nigeria's Skye Bank gets approval to raise 50 bln naira Tuesday, May 28, 2013 11:37 PM PDT LAGOS (Reuters) - Nigeria's Skye Bank has won shareholders' approval to raise 50 billion naira in capital to expand its operations and boost its balance sheet, the mid-tier lender said in a statement on Tuesday. "The bank would raise Tier 11 capital before the end of the third quarter and seek additional funds through Tier 1 issue in the nearest future," CEO, Kehinde Durosinmi-Etti, said in the statement. Tier 11 capital refers to debt while Tier 1 is equity. The lender said it won shareholders' vote last Wednesday to raise the funds by way of debt or equity at home or abroad. Full Story | Top |
| Ethiopia diverts Nile for huge $4.7 bln hydro dam Tuesday, May 28, 2013 11:36 PM PDT  By Aaron Maasho ADDIS ABABA (Reuters) - Ethiopia began diverting a stretch of the Nile on Tuesday to make way for a $4.7 billion hydroelectric dam that is worrying downstream countries dependent on the world's longest river for water. The Horn of Africa country has laid out plans to invest more than $12 billion in harnessing the rivers that run through its rugged highlands, to become Africa's leading power exporter. Centrepiece to the plan is the Grand Renaissance Dam being built in the Benishangul-Gumuz region bordering Sudan. ... Full Story | Top |
| Universal, Robinsons fail to reach deal on Manila casino: sources Tuesday, May 28, 2013 10:55 PM PDT  By Nathan Layne and Rosemarie Francisco TOKYO/MANILA (Reuters) - Philippine property firm Robinsons Land Corp and Japan's Universal Entertainment Corp have ended talks over a planned joint development of a $2 billion casino-resort complex in Manila without concluding a deal, said two people with direct knowledge of the matter. Universal, controlled by billionaire founder Kazuo Okada, had been in negotiations with Robinsons Land since late last year over what would be the Philippines' biggest casino-resort development. ... Full Story | Top |
| Apple CEO sees more 'gamechangers'; hints at wearable devices Tuesday, May 28, 2013 10:54 PM PDT  By Alexei Oreskovic and Poornima Gupta RANCHOS PALOS VERDES, Calif./SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook defended the company's record of innovation under his stewardship, saying he expected it would release "several more game changers" and hinting that wearable computers could be among them. "It's an area where it's ripe for exploration," Cook said on Tuesday at the All Things Digital conference, an annual gathering of technology and media executives in the California coastal resort town of Rancho Palos Verdes. "It's ripe for us all getting excited about. ... Full Story | Top |
| Amgen to make move into Japan, takes on Astellas as partner Tuesday, May 28, 2013 09:45 PM PDT  (Reuters) - Amgen Inc, the world's largest biotechnology company, said it entered into a long-term collaboration with Astellas Pharma Inc and will form a joint venture with the Japanese drugmaker to provide new medicines in Japan. Amgen management told a meeting of investors and analysts in February that it planned to expand its business into major Asian markets in 2015 and 2016 and called its lack of presence in Japan and China "a noticeable gap." Wednesday's announcement takes a major step toward filling that gap. ... Full Story | Top |
| KKR, Carlyle said to eye bids for SingTel's $1.9 billion Australia unit Tuesday, May 28, 2013 09:40 PM PDT  By Stephen Aldred and Saeed Azhar HONG KONG/SINGAPORE (Reuters) - Private equity firms KKR and Carlyle Group are among the suitors lining up bids for Singapore Telecommunications Ltd's Australian unit, Optus Satellite, people familiar with the matter said, a business valued at more than A$2 billion ($1.9 billion). SingTel, Southeast Asia's largest telecom operator, is battling tepid growth in its key markets of Singapore and Australia, and the funds raised from the sale would help it plough cash into faster-growing businesses. ... Full Story | Top |
| Dry ice likely led to evacuation at California's Disneyland Tuesday, May 28, 2013 09:21 PM PDT  LOS ANGELES (Reuters) - What sounded like a small explosion on Tuesday in a trash can at Disneyland in California appears to have come from dry ice in a plastic bottle and may have been a prank, police said. Walt Disney Co evacuated a section of the theme park called Mickey's Toontown but allowed visitors to return within hours, Anaheim police spokesman Sergeant Bob Dunn said. "What we found was indicative of dry ice," Dunn said. He added that a plastic bottle believed to have contained the material was located. ... Full Story | Top |
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