Economy

Apple escapes China tariff hit for now, but threats loom

The latest round of tariffs imposed on China imposed by President Donald Trump appeared to largely spare Apple and other consumer electronics makers but they face increasing threats from the deepening trade war.

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SA rand gains after dollar’s tariff falter

South Africa’s rand gained early on Tuesday as broad dollar weakness supported investor appetite for riskier assets after Washington imposing additional tariffs on Chinese imports.

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Cipla Uganda raises millions in IPO

The Ugandan unit of India’s pharmaceutical giant, Cipla, raised $41 million from its initial public offering (IPO) that was oversubscribed, a brokerage that helped advise on the transaction said on Monday.

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Nokia cuts hundreds of jobs in the US

Telecom network equipment maker Nokia has cut 250 jobs at its site in Naperville, United States, and expects to lose a further 250 positions, a report by Crain's Chicago Business said late on Monday.

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Google to provide Renault-Nissan next-generation media system

The Renault-Nissan alliance has picked Google's Android operating system to power its next-generation media system, the Wall Street Journal reported on Tuesday.

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Comair hikes earnings despite soaring fuel costs

South African aviation group Comair Limited on Tuesday announced record earnings with a $21.8 million profit after tax for the year ended 30 June 2018, which was up $1.9 million to the prior year, despite dismal trading conditions.

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SA Unions sign wage deal with AngloGold Ashanti

Three unions have signed a three-year wage deal with AngloGold Ashanti, potentially inching the country’s gold industry a closer to ending a standoff over pay.

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SABC administration slammed for financial woes

Executive Director of Media Monitoring Africa, William Bird, has accused the previous South African Broadcasting Corporation (SABC) administrations of allowing the public broadcaster to deteriorate.

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Banks to continue testifying at State Capture Inquiry

The Commission of Inquiry into State Capture will on Tuesday continue hearing evidence from major South African banks about how and why they cut ties with Gupta-linked companies.

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Oil prices fall as US-China trade war clouds demand outlook

Oil markets slipped on Tuesday as the latest escalation in the Sino-United States (US) trade war clouded the outlook for crude demand from the two countries, the world's top crude consumers.

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