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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
New York - A US bankruptcy court approved the sale of investment bank Lehman Brothers' investment-management division Neuberger Berman, news reports said late on Monday.
The sale to a group of executives of Neuberger Berman will provide about $922m worth of stocks in proceeds, which are planned to be passed on to creditors of Lehman Brothers, once the fourth-largest US investment bank.
The Neuberger employees beat two bids by private equity firms Bain Capital Partners and Hellman & Friedmann.
A Neuberger spokesman praised the court's decision as marking the end of a "period of uncertainty" for the company.
Lehman filed for bankruptcy in September.
- Sapa-dpa