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Most Read Today

China March factory activity unexpectedly expands, but outlook still grim

04h10 Factory activity in China unexpectedly expanded in March after contracting sharply to a record low, but the rapid global spread of the coronavirus is expected to keep businesses and the overall economy under heavy pressure as foreign demand slumps.  Full story

China's Sinopec cuts 2020 capital spending by 2.5%

29/03 Asia's top refiner China Petroleum & Chemical Corp, or Sinopec, will trim capital expenditures in 2020 by 2.5% from a year earlier amid plunging oil prices and tepid fuel demand caused by the coronavirus outbreak.  Full story

Most Read This Week

EXCLUSIVE-India's Reliance seeks to sell Mideast crude cargoes in rare move

30/03 India's Reliance Industries Ltd is seeking to sell some April-loading crude cargoes in a rare move as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, four sources said on Friday.  Full story

Anglo American expects South African lockdown to hit iron ore and coal

27/03 Anglo American expects output at its Kumba Iron Ore mine in South Africa to fall by up to 3 million tonnes in 2020 because of a 21-day lockdown and coal export production to be up to 2 million tonnes lower, it said on Friday.  Full story

Banks, regulators move to protect customers from wave of coronavirus scams in UK, US

24/03 UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes.  Full story

 

SA Business

Top platinum miners declare force majeure after coronavirus lockdown

30/03 The world's largest platinum producers Anglo American Platinum, Sibanye-Stillwater and Impala Platinum have declared force majeure on contracts after a three-week national lockdown forced operations to close.. . .  Full story

South African rand touches all-time low after Moody's pulls the plug

30/03 South Africa's rand hit an all-time low on Monday after ratings firm Moody's removed the country's last investment grade credit rating and downgraded it to "junk" status - although the selloff. . .  Full story

South African franchise restaurant chain Spur to defer interim dividend payment

30/03 South African franchise restaurant chain Spur Corporation said on Monday it will defer the payment of its 2020 interim dividend until Oct. 5, in order to preserve cash reserves during the. . .  Full story
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SA Company

S.Africa's big banks say up to a fifth of borrowers may not qualify for relief during virus

30/03 South Africa's biggest retail banks say that around 15-20% of their lending books do not definitely qualify for coronavirus relief measures announced by the banks last week, though more could be done if the government. . .  Full story

South Africa's MTN drops data prices after competition probe

20/03 MTN said it had agreed to cut the cost of its data bundles on Friday after South Africa's competition watchdog warned in December that the telecoms operator and rival Vodacom faced prosecution if they did. . .  Full story

Anglo American Platinum nudges output guidance lower

19/03 Anglo American Platinum's full-year production of platinum group metals will be at the lower end of its previous outlook, it said on Thursday, sending its shares down 10%.. . .  Full story
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Live News Wire

Savage sell-off in Chinese dollar bonds lures bargain hunters

05h06 Dollar bonds sold by Chinese companies have rebounded sharply on bets by fund managers that a plunge in prices amid market chaos and a scramble for dollars was overdone as China's economy begins to pick up and stimulus packages kick in.  Full story

Instacart, Amazon workers strike as labor unrest grows during coronavirus crisis

04h51 Warehouse, delivery and retail gig workers in the United States went on strike on Monday to call attention to safety and wage concerns for people laboring through the coronavirus crisis.  Full story

Coronavirus could force GM to delay its redesigned 2021 SUVs

04h50 General Motors told suppliers on Monday it is postponing work on at least half a dozen future models to conserve cash during the coronavirus pandemic and suggested it could delay the planned launch in late April of its highly profitable large sport utility vehicles.  Full story
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Europe

Copper rebounds as China's factories unexpectedly return to growth

03h46 Copper prices rose on Tuesday, with Shanghai copper touching a near two-week high, as top consumer China surprisingly reported an expansion in factory activities this month. The Purchasing Managers' Index for. . .  Full story

Crude rises after U.S., Russia agree to oil market talks

02h55 Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stablising energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand.. . .  Full story

Shell drops out of major U.S. LNG project, Energy Transfer delays decision

02h03 Royal Dutch Shell Plc pulled out of a major U.S. liquefied natural gas (LNG) export plant under development following the recent crash in energy prices, quickly followed by its partner, Energy Transfer LP, delaying its. . .  Full story
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US

Airlines plan furloughs; Air New Zealand sees smaller carrier in a year

04h15 Major global airlines projected layoffs, furloughs and capacity cuts over the next few months, with Air New Zealand on Tuesday warning it expected staffing levels to be 30% lower than it is now, due. . .  Full story

Corn prices set for biggest quarterly loss in 5-1/2 years

04h04 U.S. corn futures edged up on Tuesday as traders squared positions ahead of two widely watched reports, though prices were poised for their biggest quarterly loss in more than five years as the coronavirus. . .  Full story

U.S. senators urge coronavirus delay to June 1 USMCA trade deal start date

02h22 A bipartisan group of 19 U.S. senators urged the Trump administration to push back the planned June 1 start date for the new U.S.-Mexico-Canada trade pact, saying the short lead time would add to. . .  Full story
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Asia

Tencent-backed online education firm Yuanfudao raises $1 bln in new round

04h32 Chinese online education platform Yuanfudao said on Tuesday it has raised $1 billion in a new financing round, led by Tencent Holdings and private equity firm Hillhouse Capital Group.. . .  Full story

Tokyo lockdown would have 'huge' impact on economy - Nishimura

04h15 A lockdown of major Japanese cities like Tokyo and Osaka to halt the spread of the coronavirus would have a "huge" impact on the economy, Yasutoshi Nishimura, the country's economy minister, said on Tuesday.. . .  Full story

China March factory activity unexpectedly expands, but outlook still grim

04h10 Factory activity in China unexpectedly expanded in March after contracting sharply to a record low, but the rapid global spread of the coronavirus is expected to keep businesses and the overall economy under heavy pressure. . .  Full story
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Forex

Dollar up, but yuan sluggish as traders sceptical of China PMI bounce

04h19 The dollar rose against the yen on Tuesday as Japanese investors and companies rushed to cover a shortage of the U.S. currency before their fiscal year end, but sentiment remained fragile as the. . .  Full story

Most regionals rise marginally; Taiwan dollar, Thai baht lead gains

04h08 The following table shows rates for Asian currencies against the dollar at 0204 GMT. CURRENCIES VS U.S. DOLLAR Currency. . .  Full story

Asia shares edge up, China factories show flicker of life

03h23 Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.. . .  Full story
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Africa

Vedanta to suspend operations at Namibian zinc unit

30/03 Vedanta Zinc International, a unit of diversified miner Vedanta Resources, said on Monday it would suspend operations at its Skorpion Zinc mine and refinery in Namibia by the end of April.. . .  Full story

Angola to cut budget as fifth year of recession looms large

29/03 Angola's finance minister said the country's economy will contract by 1.21% in 2020, marking a fifth year of recession, as the coronavirus and a slump in oil prices batter its finances.. . .  Full story

Nigeria imposes offshore oil worker restrictions in coronavirus battle

29/03 Nigeria's petroleum regulator has ordered oil and gas companies to reduce their offshore workforce and move to 28-day staff rotations as part of measures to curb the spread of the coronavirus,. . .  Full story
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