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☆ Binder 'fights like hell' to win Argentina sprint from 15th on grid
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +2 min

SANTIAGO DEL ESTERO, Argentina, April 1 (Reuters) - Red Bull KTM rider Brad Binder put on a masterclass in bravery and skill to win Saturday's MotoGP sprint race at the Argentina Grand Prix after starting 15th on the grid. I got super tight in turn one and just tried to hug the inside," Binder said in a post-race interview. Once Bezzecchi got past his Italian compatriot Marini, he looked to hunt Binder down on the final lap but the Red Bull KTM rider held on for the win. The step they made from yesterday was unreal - my bike worked fantastic," Binder added, as he moved up to fourth in the championship. Reporting by Rohith Nair in Bengaluru Editing by Mark Potter and Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ S.African utility Eskom's interim profit drops almost two-thirds
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies State-owned utility posts profit of 3.84 bln randProfit drop due to power cuts, plant performanceEskom needs 60 bln rand for operations in 2023JOHANNESBURG, March 31 (Reuters) - South African power utility Eskom said on Friday its half year profit fell by nearly two-thirds, driven by rolling power cuts and poor plant performance. Debt-saddled Eskom has struggled for years to meet electricity demand in the country, plunging Africa's most developed economy into hours of power cuts, hurting industry output and impacting households. The state-owned utility's profit for the six months ended Sept. 30 fell to 3.84 billion rand ($216.5 million) from 10.61 billion rand in the year earlier period. The government, which has struggled for years to overhaul the power firm, said in February it planned to take on 254 billion rand of Eskom's 423 billion rand debt as of Sept. 30. For 2023, Eskom said it would need 60 billion rand for operations, three quarters of which has already been arranged with the remainder to be secured through a private share placement.

PRETORIA/CAPE TOWN, March 31 (Reuters) - South Africans took to the streets of Pretoria and Cape Town on Friday to protest against a Ugandan law passed last week that makes it a criminal offence to be openly LGBTQ. Singing and waving flags, demonstrators called on Uganda's president, Yoweri Museveni, not to sign it. "Queer people don't owe anyone anything, but we also deserve to live just like everyone else. You can't strip all our rights. Reporting by Catherine Schenck and Esa Alexander, Writing by Rachel Savage Editing by Giles ElgoodOur Standards: The Thomson Reuters Trust Principles.

☆ Explainer: Why Lesotho parliament is debating reclaiming land from South Africa
▼ + stars: | 2023-03-30 | by ( Carien Du Plessis | ) www.reuters.com time to read: +3 min

Even if the motion passes, its economically and militarily more powerful neighbour South Africa - which completely envelops Lesotho - is unlikely to cede the land. In fact, there are around twice as many Basotho in South Africa as in Lesotho. Historically, the seizure of Basotho land by Dutch settlers -- whose descendents, Afrikaners, now own most of the land in Free State -- is well-attested. Lesotho became a British protectorate in 1868, after the then king Moshoeshoe I appealed to British imperial authorities to prevent any more land being seized. Eswatini's King Mswati III has in the past similarly claimed that big parcels of neighbouring South African land were historically part of his kingdom and should be returned, but has never realised them.

[1/2] Dressmaker Faieza Caswell from Mitchells Plain sews under candlelight in her workplace, on the Cape Flats due to South Africa's struggling power utility company Eskom, implementing regular power cuts - called 'load-shedding', in Cape Town, South Africa February 11, 2023. South Africa's relatively wealthy, developed economy and nearly three decades of political stability helped drive industry growth and draw in reinsurers. And they are now tightening the conditions of their agreements with insurance companies. Reinsurers are also pushing insurance companies to include so-called "named perils" in policies rather than offering blanket cover for catastrophes. Grid failure would plunge South Africa into a nationwide blackout that could last weeks.

☆ 'It's not a pretty picture': Russia's support is growing in the developing world
▼ + stars: | 2023-03-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +8 min

Chinese President Xi Jinping met with Russian President Vladimir Putin in Moscow earlier this month and the two leaders vowed to deepen economic ties. watch nowWhile South Africa caused controversy in February by holding joint military drills with Russia and China on the anniversary of the invasion of Ukraine. The EIU said the number of neutral countries rose from 32 to 35, now representing almost 31% of the global population. However, this bloc also represents just under 68% of global GDP, highlighting an emerging disconnect between wealthy Western economies and the Global South. Countering organized Russian propaganda first requires acknowledging the problem, and building awareness about the aims and effectiveness of sanctions, she said.

☆ Bitcoin is poised to blow up Africa's $86 billion banking system
▼ + stars: | 2023-03-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Then there's mobile money, which has been around since the early 2000s. Africa's mobile money transactions rose 39% to more than $700 billion in 2021, according to data from the GSM Association, a non-profit representing mobile network operators worldwide. That cash network was extraordinarily difficult and expensive to build, which is why there aren't a lot of direct competitors. Bitnob is SMS-based and piggybacks on the mobile money system, making it easier for people to send money directly into bank accounts and mobile money wallets in African countries. "We're able to settle into bank accounts or mobile money accounts, without the recipients having to interact with bitcoin themselves," Parah tells CNBC.

Britain and Norway hiked rates by 25 bps each, the Swiss National Bank jacked up rates by 50 bps. The European Central Bank hiked rates by 50 bps a week ago. ClearBridge strategist Jeffrey Schluze said, European banking regulation since the global financial crisis has been more stringent than in the United States, making the outlook for European lenders relatively strong. While banking stocks have been battered globally, the S&P 500 is up 0.5% this month (.SPX), while Europe's STOXX 600 index down 3.2% (.STOXX). CHANGE IN TONEBefore the banking turmoil, markets were driven by one-way moves as high inflation pressured U.S. and European markets.

☆ DCG-owned crypto exchange Luno replaces CEO, seeks outside investment after layoffs
▼ + stars: | 2023-03-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

DCG, Luno's parent company, has been grappling with the ongoing fallout from last year's plunge in token prices and the collapse of FTX. LONDON — The CEO of cryptocurrency exchange Luno is stepping aside and handing the reins to its head of operations, the company announced Wednesday. It comes as Luno's parent company, crypto-focused venture capital firm Digital Currency Group, continues to reel from turmoil in the crypto market. Luno said it has also hired investment banking firm Canaccord Genuity Group to help it raise new investment from outside investors. A DCG spokesperson insisted Swanepoel's job move was unrelated to the difficulties faced by Luno's parent company and had been in the works for 12 months.

[1/3] Visitors pass a logo of Teck Resources Ltd mining company during the Prospectors and Developers Association of Canada (PDAC) annual convention in Toronto, Ontario, Canada March 4, 2019. REUTERS/Chris HelgrenTORONTO, March 21 (Reuters) - Investors have yet to embrace Canadian miner Teck Resources Ltd's (TECKb.TO) proposal to spin off its highly polluting coal business and focus on production of copper to help supply society's move toward electric vehicles. Last month, Teck announced a split into copper-focused Teck Metals and Elk Valley Resources (EVR), which will focus on high-margin coal for steel making. In 2021, South African miner Anglo American demerged and listed its thermal coal business. "The coal business is profitable for now, and using its proceeds to fund its copper business is a pragmatic way towards transition," said Dustyn Lanz, Senior Advisor ESG Global Advisors.

☆ Former U.S. Marine may have been 'lured' from China by security agencies before arrest, lawyer says
▼ + stars: | 2023-03-20 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

SYDNEY, March 20 (Reuters) - A former U.S. Marine Corps pilot may have been "lured" from China to Australia by security agencies before his arrest, his lawyer said outside court on Monday after an extradition hearing in Sydney. Daniel Duggan, 54, is facing extradition to the United States on charges of breaking U.S. law by training Chinese military pilots to land on aircraft carriers. On Monday, Duggan's extradition case was adjourned until May, as his lawyers seek access to documents from Australian government agencies for his defence. Before moving to China in 2014, he had lived in Australia for a decade and has six children in Australia. Britain's air force chief said this month intelligence agencies in Australia and Britain had shared information to warn pilots against working for Beijing.

☆ South African rand weakens ahead of anti-government protest
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, March 20 (Reuters) - The South African rand weakened against the dollar on Monday ahead of planned protests by the Marxist Economic Freedom Fighters (EFF) party. At 0743 GMT the rand traded at 18.4350 against the dollar, 0.16% weaker than its previous close. South African security forces on Monday said 87 people had been arrested over the past 12 hours over public violence. The Marxist Economic Freedom Fighters (EFF) party has called for a national shutdown to protest crippling power cuts and demand the resignation of President Cyril Ramaphosa. "This constitutes a risk event for the country and could harm sentiment on South African markets if the outcome is bad," ETM Analytics said in a note.

☆ South African authorities arrest 87 ahead of anti-government protest
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, March 20 (Reuters) - South African security forces said on Monday that 87 people had been arrested in the last 12 hours across the country over public violence ahead of planned protests by the Marxist Economic Freedom Fighters (EFF) party. The EFF has called for a national shutdown to protest crippling power cuts and demand the resignation of President Cyril Ramaphosa. The party's main constituency are the poor and working class Black South Africans who feel left out of the country's prosperity since the governing African National Congress (ANC) ended white minority rule in 1994. Parliament said in a statement on Sunday that the South African military would deploy 3,474 troops for a month until April 17 to prevent and combat crime in cooperation with the police. "Law enforcement officers are on high alert and will continue to prevent and combat any acts of criminality," NatJOINTS said.

☆ South Africa's EFF marches to demand president's resignation
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +3 min

[1/5] Members of the political party, Economic Freedom Fighters (EFF), gather at Church Square after calling for a "National Shutdown" and demanding resignation of President Cyril Ramaphosa in Pretoria, South Africa March 20, 2023. REUTERS/Alet PretoriusJOHANNESBURG, March 20 (Reuters) - Thousands marched through the streets of South Africa's cities on Monday to demand that President Cyril Ramaphosa resign, as security forces guarded malls and roads to prevent violence and looting. The Marxist Economic Freedom Fighters (EFF) party, whose supporters are mainly poor and working class Black South Africans who feel marginalised since the governing African National Congress (ANC) ended white minority rule in 1994, had called for a national shutdown. South African security forces said on Monday that 87 people had been arrested in the last 12 hours over public violence ahead of planned protests. Parliament said in a statement on Sunday that the South African military would deploy 3,474 troops for a month until April 17 to prevent and combat crime in cooperation with the police.

☆ Former pro breaks record for world's longest surf in Australia
▼ + stars: | 2023-03-17 | by ( James Redmayne | ) www.reuters.com time to read: +1 min

SYDNEY, March 17 (Reuters) - A former Australian professional surfer broke the world record for the longest recorded surfing session in Sydney on Friday. The Australian plans to surf until Friday evening, extending the new record to over 40 hours on the water. Spotlights were used at night to help guide Johnston in the surf and medics monitored his health on the beach. Johnston, who surfed more than 600 waves during his session, took on the world record to raise money for youth mental health initiatives in collaboration with the Chumpy Pullin Foundation. Reporting by James Redmayne in Sydney Editing by Alasdair Pal, Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

☆ Tiger Woods's NDA battle with Erica Herman is dragging his obsession with privacy into the spotlight
▼ + stars: | 2023-03-14 | by ( Jack Newsham | Katherine Long | ) www.businessinsider.com time to read: +13 min

Tiger Woods's ex-girlfriend Erica Herman claims he evicted and abused her, but she has an NDA. Davis wasn't the first person asked to keep Tiger Woods's name out of his mouth, and according to a $30 million lawsuit filed earlier this month by Woods's ex-girlfriend Erica Herman, he wasn't the last. The battle over Herman's NDA is a window into Woods's longtime obsession with privacy. In October 2021, exhibits and transcripts were sealed in an unsuccessful case brought by the family of an employee at Tiger Woods's restaurant who died in a drunk driving incident. When Woods's image imploded in 2009, he used nondisclosure agreements to stanch the gush of details about his personal life into the media.

☆ South African township boys spin bikes to stay out of trouble
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

Ngwenya usually practises stunts with his friends in Kahlehong township, east of Johannesburg, where he is part of a club that encourages young boys to fix up old bikes and get into spinning so they stay away from crime and gang violence. This weekend, they were invited for the first time to "Revved up Sunday", a monthly event which is usually reserved for car spinning but has added a stunt bike exhibition for its younger participants. We don't only spin in our township anymore but we can now be seen by other people," said Ngwenya, who started spinning in 2016 after a friend introduced him to it. "What I love about spinning bikes is that when we are bored and not doing anything, we don't get into trouble but we spin," said Ngwenya. ($1 = 18.1923 rand)Reporting by Siyabonga Sishi; Writing by Nellie Peyton, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ South African court orders striking healthcare workers to end walkout
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

[1/5] Members of the National Education, Health and Allied Workers' Union (NEHAWU) march during a strike over wage disputes, at the Thelle Mogoerane Regional Hospital in Vosloorus outside Johannesburg, South Africa, March 13, 2023. REUTERS/Siphiwe SibekoJOHANNESBURG, March 13 (Reuters) - The South African Labour Appeal Court on Monday ordered striking state healthcare workers to end a week-long walkout that has affected services in some of the country's major hospitals, the health department said. National Education, Health and Allied Workers' Union (NEHAWU) members went on strike last week after wage talks with the government failed. The labour relations act prohibits essential workers from engaging in strike action which is detrimental to healthcare services with a risk of loss of life, he told a press briefing. The South African military said it had deployed medics to help in the affected hospitals at the request of the health department.

☆ 'A thin existence': man stranded in Turkey after being refused entry to Britain
▼ + stars: | 2023-03-12 | by ( Ali Kucukgocmen | ) www.reuters.com time to read: +3 min

Twala holds South African citizenship, has lived in the UK since 2004 and is father to a British son. The UK Home Office has not responded to a request for comment Reuters made on Saturday. 'BAD DREAM'Twala said his son, Mason, was in shock when he heard that his father could not board the plane. After receiving a family court order for the part-time custody of his son, Twala said he believed he could travel outside the country. "It just feels like I'm in a bad, bad dream," Twala said, adding that he's had "dark" thoughts throughout his time stranded in Turkey.

☆ Britain's King Charles hands Duke of Edinburgh title to Prince Edward
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Maja Smiejkowska/File PhotoLONDON, March 10 (Reuters) - Britain's King Charles named his younger brother Prince Edward as the new Duke of Edinburgh on Friday, handing him the title last held by their father Prince Philip, Buckingham Palace said in a statement. Edward, 59 on Friday, becomes the latest member of the royal family to be granted a new title since Charles became king in September after the death of his mother, Queen Elizabeth. William, Charles's eldest son and heir to the throne, was named Prince of Wales, while the children of his second son Harry, no longer a working royal, were officially named as prince and princess earlier this week. Edward's new title comes after he took on a number of his father's roles, including at The Duke of Edinburgh Award charity which encourages young people to undertake challenges. Philip had held the title of the Duke of Edinburgh since his marriage to the then Princess Elizabeth in 1947 until his death in 2021.

☆ South African rand weakens to multi-year low after Powell testimony
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, March 8 (Reuters) - The South African rand dropped sharply overnight and hit its lowest level in almost three years early on Wednesday, after hawkish comments from U.S. Federal Reserve Chair Jerome Powell and South African data showed a sharp economic contraction. The rand's slide was compounded by gross domestic product (GDP) figures released on Tuesday that showed South Africa's economy contracted more than expected in the fourth quarter of last year. If it contracts again in the current quarter, South Africa will be in a recession. The government's benchmark 2030 bond was slightly weaker in early deals, with the yield up 2 basis points to 10.190%. Reporting by Nellie Peyton Editing by Alexander WinningOur Standards: The Thomson Reuters Trust Principles.

☆ Orca pair devour 17 sharks in a day in South African killing spree, say marine biologists
▼ + stars: | 2023-03-04 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

A pair of orca whales in South Africa killed 17 sharks in just "one sitting," said marine biologists. The male duo had previously terrorized great white sharks that used to hunt in the area. Days later, they found the remains of 11 of the 17 killed sevengill sharks in Pearly Beach. The carcasses of several great white sharks have since washed up on the shores of False Bay, all grossly injured and with their oil-rich livers ripped out. For the first time in May 2022, scientists were able to film Starboard killing a great white shark.

☆ The energy CEO poisoned with cyanide-laced coffee plans to 'lay low' and 'watch out for who invites me to coffee' after losing access to his bodyguard
▼ + stars: | 2023-03-02 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Eskom's former CEO plans to "lay low" and go abroad for a while after cyanide poisoning. De Ruyter alleged corruption in South Africa's government in an explosive interview last week. He described the incident in greater detail in his TV interview, saying his personal assistant had served him instant coffee because the coffee machine at Eskom's headquarter was being repaired. Since De Ruyter was appointed as CEO in 2019, he has tried to clamp down on corruption in the energy sector. He also pointed to South Africa's governing party, the African National Congress, for the power shortages saying "it's a little bit like a Venn Diagram."

☆ S.Africa's Aspen set for deals to revive idled production lines
▼ + stars: | 2023-03-01 | by ( Promit Mukherjee | ) www.reuters.com time to read: +2 min

Aspen had a contract with Johnson & Johnson (JNJ.N) to produce 250 million doses a year of COVID vaccine from its South African plant. It expanded the capacity to 400 million annual doses last year to sell its own branded COVID vaccine Aspenovax anticipating a major flow of orders from African countries. That was a bit of a commercial disappointment," CEO Stephen Saad told Reuters in an interview after its interim earnings. But Saad said the partnerships it was pursuing meant production lines designed for COVID vaccine would start generating returns. The company anticipates a contribution of 2 billion rand ($110.22 million) in calendar year 2024, increasing to 4 billion rand by 2025 under these partnerships, Saad added.

[1/5] View of boats stuck in a sea with invasive green water hyacinth weed at the Hartbeespoort dam, informally known as "Harties", a small resort town in the North West Province of South Africa, February 16, 2023. REUTERS/Shafiek TassiemHARTBEESPOORT, South Africa, March 1 (Reuters) - The Hartbeespoort dam in South Africa used to be brimming with people enjoying scenic landscapes and recreational water sports. Now, the visitors are greeted to the sight of boats stuck in a sea of invasive green water hyacinth weed. Scientists and community members have, however, found a unique way to deal with the invasion by introducing a water hyacinth eating bug called Megamelus scutellaris. The insect army has previously reduced the expanse of water hyacinths to a mere 5% on the dam, Coetzee said.

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