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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 - Credit ratings agency Standard & Poor's has cut its ratings on 22 US banks.
The ratings cuts disclosed on Wednesday come amid concern that conditions in the financial sector will remain volatile and banks are likely to face tighter regulatory oversight.
S&P also says loan losses are likely to increase and could grow beyond expectations.
Among the banks whose ratings are being cut are BB&T Corp, Capital One Financial Corp, PNC Financial Services Group Inc, Regions Financial Corp. and Wells Fargo & Co.
- Sapa-AP