South African fuel prices are set for significant hikes in September, with diesel users facing the steepest increases amid rising oil prices and rand fluctuations.
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South African salary earners battle rising costs despite small pay increase in June
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Chocolate lovers react to 45% increase in cocoa prices, Mzansi shares solution
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Shell logs 'strong' quarter as earnings fall but top expectations
British oil and gas giant Shell announced Thursday that first-quarter earnings fell but beat expectations in a "strong" performance, and unveiled another bumper stock buyback. Shell had already warned last month that it expected lower natural gas sales in the first quarter after a particularly strong performance in the final three months of 2023.
Maersk's net profit sinks amid Red Sea attacks
Danish shipping giant Maersk posted a huge drop in net profit for the first quarter on Thursday as Yemeni rebel attacks force it to avoid the vital Red Sea route.
OECD lifts 2024 growth forecasts, driven by US
The OECD raised its global economic growth forecast for 2024 on Thursday, driven by strong performances in the United States and emerging countries while Europe lags behind. Central banks worldwide raised interest rates in efforts to combat inflation, which rose after countries emerged from Covid lockdowns and soared further following Russia's assault on Ukraine in 2022.
Wind energy giant Vestas swings to loss, sees geopolitical headwinds
Vestas, the world's number one wind turbine maker, said Thursday it swung to a 75-million-euro ($80-million) loss in the first quarter and warned "geopolitical volatility" would continue to cause uncertainty. "In 2024, continued geopolitical volatility is expected to cause uncertainty.
Weight-loss drug maker Novo Nordisk's profits soar further
Danish pharmaceutical giant Novo Nordisk reported more soaring profits on Thursday thanks to the popularity of anti-diabetes and weight-loss drugs Ozempic and Wegovy, which have made it Europe's most valuable company. Novo Nordisk produces Ozempic, an injectable anti-diabetic treatment which has become popular on social networks for its reported slimming properties.
Shell logs sliding profits as revenues sink
British energy major Shell on Thursday posted sharply lower first-quarter net profit on sinking revenues, but adjusted earnings topped expectations and it unveiled another bumper stock buyback. The group unveiled a fresh $3.5-billion stock buyback and forecast capital expenditure this year would reach between $22 billion and $24 billion.
French govt to 'fight' TotalEnergies New York listing
France will "fight" to keep oil and gas giant TotalEnergies from shifting its main stock market listing to New York, French Finance Minister Bruno Le Maire said Thursday. "I'm here to make sure that doesn't happen," Le Maire told news channel BFM. "Is the overriding interest of the nation to keep Total's headquarters in France and its main stock market listing in France?
Yen slips after rallying on suspected intervention, stocks mixed
The yen weakened Thursday following another surge against the dollar that fuelled speculation Japanese authorities had intervened for a second time this week, after Federal Reserve boss Jerome Powell warned interest rates would stay higher for longer.
Evictions surge in Arizona with housing shortage and rising prices
Wearing a bulletproof vest and with a gun strapped to his waist, Constable Lennie McCloskey opens his folder and looks through the court orders: eleven evictions to be carried out today. But what he sees most nowadays is people who haven't been able to scrape together enough money to make the rent that month -- sufficient cause for a landlord to get a court ordered eviction.
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