US stockbrokers pull out of analyst surveys

By Karen Freifeld and Chris Peters of Reuters Feb 26 (Reuters) – Eighteen brokerages, including Goldman Sachs, JPMorgan Chase, and Citigroup, agreed to end their participation in analyst survey programs as a result of the New York Attorney General’s investigation into the early release of Wall Street analyst sentiment. The agreement with the New York Attorney General Eric Schneiderman’s … Read more

MMI buys control of Kenyan insurer for $27m

JOHANNESBURG (Reuters) – South African financial services group MMI Holdings said on Monday it will buy a majority stake in Kenyan insurer Cannon Assurance for $27 million, to increase its presence in East Africa’s top economy. The 300 million rand deal gives South Africa’s third-largest life insurer access to Cannon’s short-term insurance and asset management products. MMI Holdings operates … Read more

ABSA stops all political party funding

From the SA Press Association: Absa has stopped all political donations, the bank said on Monday: “Absa confirms that it will discontinue all political donations and that it made its final donations to political parties in December 2013.” “Absa had previously supported all political parties who had three seats or more in the National Assembly.” The … Read more

Illegal mining tragedy looms – NUM’s Baleni

From the SA Press Association: A major tragedy is looming in disused mines if government does not take decisive action to curb thriving illegal mining, the National Union of Mineworkers (NUM) said today. “We have been urging the ministers of police and mines to improve on their intelligence side,” NUM general secretary Frans Baleni told reporters in … Read more

Toyota FJ Cruiser recalled: fuel tubes cause fire

From the Associated Press: Toyota Motor Corp. is recalling 13 000 FJ Cruiser sport-utility vehicles, mostly in the Middle East, for fuel tubes that may overheat, melt and set off a gas leak. The automaker says five fires were reported related to the defect. There have been no reports of injuries or deaths. The recall … Read more

mining

UPDATED: 11 rescued illegal miners charged, 200 more refuse to come up

From the SA Press Association: Eleven illegal miners who were rescued from an abandoned mine in Benoni on the East Rand have been charged, Gauteng police said on Monday. “They will be appearing in the Benoni Magistrate’s Court [on Tuesday] on charges of illegal mining,” said Lt-Col Katlego Mogale. The group was in police custody. … Read more

Amplats sues AMCU for R591m over strike damage

By Ed Stoddard JOHANNESBURG (Reuters) – Anglo American Platinum said on Sunday it was suing South Africa’s Association of Mineworkers and Construction Union (AMCU) for R591m in damages it said resulted from ongoing strike action by AMCU members. AMCU-affiliated workers downed tools over three weeks ago at Amplats, the world’s No. 1 platinum producer, and also at rivals Impala … Read more

Kickstarter hacked, users told: change passwords

Feb 16 (Reuters) – Kickstarter, the fundraising platform used by millions of people to raise capital for creative projects and businesses, said on Saturday that hackers had gained access to some of its customers’ data earlier this week but that the breach had been repaired. “No credit card data of any kind was accessed by hackers. … Read more

Paulson’s SEC filings shows he’s still bullish on gold

By Frank Tang NEW YORK, Feb 14 (Reuters) – Hedge fund Paulson & Co maintained its stake in the world’s biggest gold-backed exchange-traded fund, SPDR Gold Trust, in the fourth quarter, even as others exited when bullion prices posted their biggest annual loss in 32 years. Well-known manager George Soros bought shares in Barrick Gold Corp, one of the … Read more

US workers: No to unionisation at key VW plant

By Bernie Woodall CHATTANOOGA, Tenn., Feb 14 (Reuters) – In a stinging defeat that could accelerate the decades-long decline of the United Auto Workers, Volkswagen AG workers voted against union representation at a Chattanooga, Tennessee plant, which had been seen as organized labor’s best chance to expand in the U.S. South. The loss, 712 to 626, capped a sprint … Read more