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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 stocks ended on Wednesday modestly in the red following disappointing eurozone data that added to signs of recession in the debt-wracked region.
The Dow Jones Industrial Average closed 27.02 points lower at 12 938.67.
The tech-rich Nasdaq Composite shed 15.40 points to 2 933.17, and the Standard & Poor's 500 index, a broad measure of the markets, lost 4.55 points to 1 357.66.
"US stocks finished modestly lower after hovering just below the flatline for most of the day, as some disappointing economic data from the eurozone rekindled recession concerns in the region," Charles Schwab analysts said.
On the blue chip Dow, Walmart was the steepest decliner, down 2.5% and extending Tuesday's slide following disappointing quarterly earnings.
Fellow Dow member Bank of America lost nearly 2.0%, while Hewlett-Packard dropped 1.3%.
Computer maker Dell fell 5.8% after posting fourth-quarter earnings a hair below Wall Street expectations.
After the market closed, HP reported profit skidded 44% in its first quarter.
General Motors shed 1.9%. The French government announced that GM and French carmaker PSA Peugeot are in talks to forge a strategic partnership.
On Tuesday the Dow topped 13 000 for the first time since May 2008 but ended the session nearly flat amid news of the new bailout deal for Greece, soaring oil prices and disappointing Walmart earnings.
Bond prices surged higher as investors fled equities. The yield on the 10-year Treasury fell to 2.00% from 2.05% on Tuesday, while the 30-year dropped to 3.14% from 3.19%.
Bond prices and yields move in opposite directions.