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Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
New York - Struggling banking giant Citigroup topped expectations Thursday, posting a third-quarter profit of $101m.
Because of special dividends required from a massive government bailout, the results amounted to a loss for shareholders of 27 cents per share. But that was better than the expected loss of 38 cents per share.
Citigroup has received some $45bn in capital from the US Treasury to shore up its finances, some of which has been converted to common stock.
That has given the government a stake of 34% in what was once the world's biggest financial group, which is now working to slim down and repay the government.
"We continue to execute steadily against our plan, and sustainable profitability remains our primary goal in the near term," said Vikram Pandit, chief executive.
"While consumer credit trends are improving in international markets, the US consumer credit environment remains challenging."
- AFP