Oil price rises as cold weather grips US

From SA Press Association-AP:The price of oil rose Tuesday, with unusually cold weather in the U.S. expected to fuel demand.Benchmark U.S. oil for February delivery was up 27 cents to $93.70 a barrel at mid-afternoon Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 53 cents to settle at … Read more

SA house prices up 6.8% in 2013 – FNB

From the SA Press Association: SA house prices for 2013 rose by 6.8 percent over the average price for 2012, according to the FNB House Price Index released today. This was a slight slowing in growth on the revised 2012 average house price growth of 7.1 percent, FNB household and property sector strategist Johan Loos … Read more

Royal Bank of Scotland hit with $50m fine

From SAPA-AP: The Royal Bank of Scotland was fined $50 million by a federal judge in the state of Connecticut Monday, part of more than $600 million in penalties announced last year for manipulating interest rates. The bank’s subsidiary, RBS Securities Japan Limited, agreed to pay the fine last year as part of a plea … Read more

Senate confirms Yellen to chair Federal Reserve

From SAPA-AP: The Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank’s efforts to spur the economy with low interest rates and massive bond purchases. Yellen, 67, will replace Ben Bernanke, who is stepping down after … Read more

Jail (again) for former PM in China imports scandal

From the SA Press Association-DPA: Former Romanian prime minister Adrian Nastase will return to prison for four years for corruption and extortion, the Supreme Court ruled Monday. Nastase was convicted for blackmailing officials to facilitate the illegal and customs-free import of Chinese furniture for his private home between 2002 and 2004. The goods he effectively … Read more

Google Android system for Audi, Honda, Hyundai, GM

From the SA Press Association-DPA: Google has teamed up with some of the world’s largest carmakers to integrate its Android operating system directly into cars, the tech companies announced Monday. In addition to the web search giant, the so-called Open Automotive Alliance (OAA) also includes Audi, General Motors, Honda, Hyundai, and chip-maker Nvidia. The consortium … Read more