By Stella Mapenzauswa JOHANNESBURG May 31 (Reuters) – Like many South Africans, Nkululeko Makhaya has only the most basic financial strategy for his future: a pension contribution deducted from his salary and 100 rand ($11.90) put aside each month towards family funeral cover. The 35-year-old admits this is woefully inadequate, but with only a modest [...]

LONDON May 31 (Reuters) – Xstrata Chief Executive Mick Davis has been offered a retention package worth almost 30 million pounds to stay on at the helm once the miner joins forces with commodities trader Glencore. Davis, who is one of the best-paid chief executives in the FTSE 100, has been offered a three-year deal, [...]

LONDON May 31 (Reuters) – Glencore and Xstrata will pay their advisers almost $200 million for counsel on the trader’s long-awaited $30 billion all-share bid for the miner, a major earner for banks and others in a fallow year for blockbuster deals. Out of that, banks on the deal will get up to $130 million, [...]

LONDON May 31 (Reuters) – Xstrata Chief Executive Mick Davis has been offered a retention package worth almost 30 million pounds to stay on at the helm once the miner joins forces with commodities trader Glencore. Davis, who is one of the best-paid chief executives in the FTSE 100, has been offered a three-year deal, [...]

* Closing of deal to be a “personal victory” for Glasenberg * Glasenberg to become deputy CEO of enlarged Glencore-Xstrata * Some investors fret on possible tensions with Davis, to be CEO * Shareholders to vote on deal in July By Clara Ferreira-Marques LONDON, May 31 (Reuters) – After years of on-off discussions, months of [...]

* Coal accounted for 46 pct of Q1 UK generation * China seen buying while prices are low – analysts LONDON May 31 (Reuters) – European prompt physical coal prices dipped by around 50 U.S. cents a tonne on Thursday while the market continued to seek clear direction on the short-term outlook. Stockpiles remained high [...]

Will 2012 see more strong men of Africa leave office? There are many reasons for being angry with Africa ’s strong men, whose autocratic ways have thrust some African countries back into the eye of the storm and threatened to undo the democratic gains in other parts of the continent of the past decades.  Blog  [...]

* Glencore $30 bln all-share bid for Xstrata confirmed in documents * Glencore shareholders to vote on July 11 * Xstrata shareholders vote on July 12 * Xstrata, Glencore to pay almost $200 million for advice By Clara Ferreira-Marques LONDON, May 31 (Reuters) – Xstrata Chief Executive Mick Davis will get a three-year deal worth [...]

By Mark Lamport-Stokes DUBLIN, Ohio May 31 (Reuters) – Four-times champion Tiger Woods, without playing at his best, moved ominously into contention at the Memorial tournament after shooting a two-under-par 70 in Thursday’s opening round. The former world number one birdied three of the four par-fives in surprisingly firm and fast-running conditions at a sun-drenched [...]

* Africa poverty falling too slowly, Giugale says * Commodity boom not creating jobs * Nations need to open up pan-African trade By Tim Cocks LAGOS, May 31 (Reuters) – Africa may have enviable economic growth rates by global standards, but they are still not enough to pull its growing population out of poverty, the [...]