The world breathed a sigh of relief today as stock markets, including the JSE, rebounded. Last night Wall Street suffered its worst fall in more than 20 years after American law makers kicked out a $700 billion dollar plan to buy out American financial companies facing bankruptcy.
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eThekwini City Manager Mike Sutcliffe says Durban Solid Waste workers who trashed the city centre last night should be fired.
Bank rescues spread in Europe on Tuesday and US President George W. Bush gave assurances that a $700 billion bailout plan for the financial sector was not dead.
New legislation is set to punish individuals actively involved in price fixing deals, particularly for basic goods.
South Africas monthly trade deficit shrunk to R5.12 billion in last month, largely due to a big fall in oil imports, official data showed today.
General Motors SA confirmed today that some 300 workers were recently offered voluntary severance packages and that more were to follow.
Sapa-AFP
Wall Street shares opened higher as buyers picked through the rubble after a record plunge for blue chips, lifted by renewed hopes for US passage of a financial rescue package.
The Dow Jones Industrial Average jumped 192.67 points (1.86 percent) to 10,558.12 and the Nasdaq advanced 51.63 points (2.60 percent) to 2,035.36 in the first trades.
The [...]
AFP
Dublin - Ireland announced a two-year guarantee on savers' deposits in six major banks, in a bid to bolster the country's financial system amid global economic turmoil.
The move, announced by the finance ministry, came after a record share slump Monday which saw the Irish Stock Exchange Index fall 13 percent, with one bank plummeting by [...]
AFP
Paris - As the shockwave from the US financial meltdown battered Europe, governments scrambled to shore up fragile banks and stock markets plunged.
In Paris, President Nicolas Sarkozy held a 5.00 am emergency meeting of his top economic team as France, Belgium and Luxembourg agreed to inject 6.4 billion euros (9.2 billion dollars) into the beleaguered [...]
Tiisetso Motsoeneng, I-Net Bridge
South African stocks ended more than 3% higher today, breaking a two-day losing streak following gains in overseas markets amid hopes of a fresh version of the US financial rescue deal.
But traders said that global markets, including the JSE, remained troubled after US lawmakers voted down a proposed US700 billion rescue plan [...]
