Archive for February 9th, 2010

Turnaround Tuesday is described by the excellent Garth McKenzie from Imara SP Reid. Dead Greek bounce or the real… »

The latest data from Stats SA shows some signs of promise. But 24.3% unemployment is still unacceptable. Mike Shcussler from www.economists.co.za talks to Lindsay… »

The Euro has tumbled 10% versus the US Dollar since November. But the ‘contagion’ has gathered pace since last week as the PIGS have flown. Investec Asset Management’s top currency man in London gives us the dope on the issue that is consuming investors… »

Retailer Spar Group (SPP) said in a business update on Tuesday that it had experienced a challenging trading period for the quarter ended
December 31, 2009, with turnover at 8.8 billion rand growing 9.2% on a comparative basis against the prior year.
“This performance continues to reflect positive volume growth and… »

South Africa’s unemployment rate decreased to 24.3% in the quarter ended December 2009 from 24.5% in the third quarter, Statistics SA data showed on Tuesday.
Compared to Q4 2008, there was an annual decrease of 6.3% (870,000) in employment, an increase of 292,000 in the number of unemployed persons and an… »

A Nobel Laureate and former senior advisor to Bill Clinton, Joseph Stiglitz is the biggest brain in economics – and he predicted the slump years ago. In an exclusive interview, he talks to Sean O’Grady about ‘crazy’ capitalism, Britain’s chances of recovery and why the banks must be… »

Toyota says it is recalling about 437,000 Prius and other hybrid vehicles worldwide to fix brake problems — the latest in a string of embarrassing safety lapses at the world’s largest automaker.

“I apologize for causing trouble and worries for many customers over the quality and safety of Toyota,” President Akio Toyoda said at a press… »

The JSE was firmer in early trade on Tuesday, buoyed by stronger resources stocks.
At 09:13 the JSE all share index was 0.41% firmer, with resources up 1.14% and platinum miner 1.22% stronger. Gold miners were flat (-0.06%).
Banks, financials and industrials were virtually unchanged…. »

Sterling tumbled to an eight-and-a-half-month low against the dollar yesterday as investors, worried about the continuing fiscal difficulties of some eurozone countries, fled to the safety of the greenback.

The pound has plummeted by nearly ten cents since mid-January amid mounting fears over how countries, including Greece and Spain, will meet their debt… »

Comments from Reserve Bank deputy governor Xolile Guma, implying that South Africa’s rate cutting cycle may soon be reversed, took economists by surprise.

According to reports from Sydney at the weekend, Guma said in an interview that local policymakers were considering whether or not to maintain stimulus measures introduced to help the economy out of the… »