JOHANNESBURG Aug 7 (Reuters) - South Africa's competition regulator fined fixed-line operator Telkom 449 million rand ($55 million) on Tuesday for "bullying" its competitors in a market abuse case stretching back to 2004. The result is likely to be seen as a victory for Telkom. South Africa's competition watchdog had originally sought a fine of 3.5 billion rand in the … [Read more...] about S.Africa fines Telkom $55 mln for "bullying"
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UPDATE 2-Cost cuts help Xstrata beat profit expectations
* H1 EBITDA down 31 percent to $4 billion * Cost of Las Bambas project rises 7 percent to $5.2 billion * Writes down Lonmin investment, takes $514 million hit * CEO declines to comment on Glencore deal outcome By Clara Ferreira-Marques LONDON, Aug 7 (Reuters) - Anglo-Swiss miner Xstrata, in the throes of a $26 billion takeover bid, posted … [Read more...] about UPDATE 2-Cost cuts help Xstrata beat profit expectations
UPDATE 1-S.Africa fines Telkom $55 mln for "bullying"
* Fine of R449 mln vs R3.5 bln originally sought * Regulator says Telkom impeded competition (Recasts, adds analyst comment) JOHANNESBURG Aug 7 (Reuters) - South Africa on Tuesday slapped fixed-line operator Telkom with a lighter-than-expected fine of 449 million rand ($55 million) for using its dominant market position to "bully" potential competitors. The … [Read more...] about UPDATE 1-S.Africa fines Telkom $55 mln for "bullying"
S.Africa business confidence plunges to 12-year low
JOHANNESBURG Aug 7 (Reuters) - South Africa's business confidence fell to its lowest in twelve years in July as sentiment continues to be hammered by the weak global and domestic economic environments, a survey showed on Tuesday. The Business Confidence Index (BCI) dropped four points to 90.9 in July after posting a recovery in June, the South African Chamber of Commerce … [Read more...] about S.Africa business confidence plunges to 12-year low
EMERGING MARKETS-Stocks near 3-mth high; S.Africa hits record
LONDON Aug 7 (Reuters) - Emerging market equities steadied at near-three-month highs on Tuesday after the hefty gains of the two previous sessions, while South Africa's stock market hit new record highs. Benchmark emerging stocks edged up 0.11 percent. This follows Monday's 1.5 percent rise which took the index to its highest point since mid-May. Johannesburg's … [Read more...] about EMERGING MARKETS-Stocks near 3-mth high; S.Africa hits record
