Economy

Nestlé refutes infant formula allegations

Although breastfeeding is praised for its significance and recommend exclusively during the first six months of life, infant formula is the only suitable breast-milk substitute recognised as appropriate by the World Health Organisation.

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KPMG SA commits to fully co-operate with inquiry

Embattled KPMG South Africa said on Friday it would co-operate with an SA Institute of Chartered Accountants' (Saica) inquiry headed by Advocate Dumisa Ntsebeza into the audit firm's conduct.

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Gupta Optimum’s mine workers want answers

Striking workers at the Gupta-owned Optimum Coal mine in Middelburg, Mpumalanga South Africa, have handed over a memorandum of grievances to management after a protest march.

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Supermarket faces prosecution for French Nutella frenzy

French supermarket chain Intermarche faces prosecution over heavy discounts that sparked frenzied scenes as customers jostled to get their hands on cut-price jars of Nutella, anti-fraud authorities said Thursday.

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Chad, Glencore to restructure oil loan

Chad announced on Wednesday it had struck a deal with Swiss mining giant Glencore to restructure debt of more than One Billion US Dollars from a cash-for-crude-oil loan.

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SA minister found guilty of misleading parliament

The Public Protector in South Africa has found Public Enterprises Minister, Lynne Brown guilty of inadvertently misleading Parliament in her assertion that there were no other contracts of engagement concluded between Eskom and Gupta linked Trillian.

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Eskom to resolve matters with Optimum Coal Mine

Eskom in South Africa says it is hopeful that matters between Optimum Coal Mine and the power utility can be resolved.

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Economists believe Budget will boost confidence

Some economists believe the austerity measures detailed by government in the Budget will boost confidence in public finances.

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US joblessness remains near 45-year low

New claims for US unemployment benefits dropped last week, remaining near their lowest level in 45 years as employers struggle to fill open positions, according to government data released Thursday.

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Air France passengers grounded by strike

Half of Air France's long-haul flights out of Paris were cancelled Thursday due to a strike over pay by pilots, cabin crew and ground staff.

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