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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 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.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
New York - US markets ended higher on Friday as trade calmed at the end of one of the most turbulent weeks on record.
The Dow Jones Industrial Average added 1.13%, the broader S&P 500 was up 0.53% and the Nasdaq Composite pushed up 0.61%.
Trade was buoyed by strong gains in
Europe's markets after four countries instituted temporary bans on
short-selling of financial stocks that helped to send the markets
spinning over the past two days.
Also helping was positive data
showing an 0.5% rise in US consumer spending in July over June,
which suggested that fears of the economy turning toward recession might
be overblown.
"All in all, as commodity price pressures have
eased recently, the current trend of core retail sales is a positive
signal for household consumption in the beginning of Q3," said Thomas
Julien at Natixis.
Markets meanwhile shrugged of the second steep
monthly fall in the University of Michigan consumer sentiment index
released on Friday, which hit a low not seen since May 1980 but may have
been affected by turbulence in markets and the political battle over the
debt ceiling in July.