Business and Finance news

South Africa

Home sales and construction will improve this year, contributing

U.S. Treasury Secretary Timothy F. Geithner

A national strike fueled by widespread dissent over spiraling gas prices paralyzed Nigeria on Monday, as tens of thousands of protesters took over the empty streets to criticize government corruption in one voice.
Protests remained largely peaceful across the country on the strike’s first day, though a police shooting in Lagos left one dead and four […]

Fear that Greece will default on its debt, perhaps triggering a financial chain reaction that will cause another global recession, hurt European stocks Monday and sent American stocks lower for a time.
The market tension came after a German politician suggested Greek finances are so bad the nation might have to leave the coalition of 17 […]

Jamestown Mall’s owner has a 90-day reprieve to find a buyer or otherwise resolve its default on a more than $2 million loan.
Jamestown Mall’s New York-based owner, Jamestown Mall Realty Management LLC, filed for Chapter 11 bankruptcy Aug. 8 to halt foreclosure proceedings brought by its lender, MFC Real Estate LLC. MFC alleged the mall owner defaulted on a […]

Global stocks continued their rebound Monday on hopes that the recent sharp volatility in the markets has run its course following a run of stronger than anticipated economic data and after Google announced a $12.5 billion deal.
Though concerns remain over the state of the global economy and Europe’s debt crisis, many investors think the recent […]

To succeed as a trader on the floor of the New York Stock Exchange you have to a steely disposition. Traders know the rhythms of the market. And they don’t usually flinch, not even at the top of a rollercoaster.
But as the market opened Monday, dropping nearly 250 points almost immediately, some traders couldn’t help […]

Deutsche Telekom AG said Thursday net profit fell 27 percent in the second quarter as it took one-time charges for early retirements in Germany and faced lagging revenue and excessive customer turnover in the U.S. mobile business it is selling to AT&T.
Net profit fell to euro348 million ($496 million) from euro475 million in the same […]

The apologies keep coming from Rupert Murdoch, who has taken out a second newspaper ad promising that his News Corp. will make amends for the phone hacking scandal shaking his global media empire.
The ad in several British Sunday newspapers says News Corp. will assist the police investigation and there will be “be no place to […]