The yen strengthened against all of its 16 major peers before a European Central Bank policy meeting and a report on U.S. jobless claims. Gold and silver declined while European stocks were little changed.
Eskom Holdings SOC Ltd. said Chief Executive Officer Brian Dames resigned as the supplier of more than 95 percent of South Africa’s power’s profit fell 3.2 percent amid higher production costs and constrained supply.
The rand dropped to the lowest since March 2009, fueled by the longest South African bond selloff in more than 15 years, as continued signs of growth in the U.S. drove speculation the Federal Reserve will curb bond buying.
Adcock Ingram Holdings Ltd.’s largest shareholder is seeking an all-cash offer of as much as 74 rand ($7.04) a share as Bidvest Group Ltd. and CFR Pharmaceuticals SA compete for control of the South African drugmaker, according to a person familiar with the matter.
South Africa’s Supreme Court of Appeal dismissed bid by Harmony to overturn ruling that it’s liable for dealing with acid mine drainage at mine it sold 5 yrs ago, the Johannesburg-based Times reports, citing judgment. *Court says landholders such as Harmony obliged by National Water Act to take responsibility for pollution: Times
Ivan Glasenberg, the billionaire running commodities supplier Glencore Xstrata Plc, is investing more in thermal coal than his three closest competitors combined even as investors warn the fuel’s outlook is deteriorating.