Cape Town News
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Allied Electronics Corp., a maker of pay-television set-top boxes, offered to buy the shares it doesn’t already own in Allied Technologies Ltd. to simplify the structure of the two companies and make savings.
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The rand weakened to a four-year low against the dollar, extending its longest losing streak in a year on concern that renewed labor unrest and falling commodity prices will weigh on South Africa’s economy.
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Transnet SOC Ltd., South Africa’s state-owned ports and rail operator, is giving up a state guarantee for its debt as borrowing costs fall amid a seven-year infrastructure spending plan.
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Lonmin Plc, the third-largest platinum producer, said its largest mine is back to normal after employees returned from a two-day wildcat strike as the biggest on-site union awaits a decision on official recognition.
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Eugene Shepherd admits he’s no beer expert, but he’ll tell you the bottle of Eagle he treats himself to every week is a step up from the murky homebrews that had been his preferred tipple.
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South Africa’s rand weakened for a sixth day, set for its longest losing streak in a year, on concern that falling commodity prices and labor unrest at mines are threatening the nation’s credit rating.
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Rand Refinery (Pty) Ltd., the world’s biggest gold processor, said it intends to sell bullion bars in the U.S. market as part of a plan to expand processing metals mined outside South Africa and boost silver operations.
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The union representing the most workers at Lonmin Plc, the world’s third-largest platinum producer, asked employees to report for duty after a wildcat two-day strike halted operations at its biggest mine.
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Transnet SOC Ltd.’s funding requirements for fiscal 2014 will increase 12 percent as the company invests in new infrastructure and equipment, Chief Executive Officer Brian Molefe said today.
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Lonmin Plc, the world’s third-largest platinum producer, said operations at its Marikana mine in South Africa have been halted after workers refused to go underground following a union official’s death.
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