Scarborough, a once quiet conservation village in the Western Cape, has become a talking point online as foreign investors are apparently taking advantage.
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Heineken beer sales pop but hazy days ahead
Dutch brewer Heineken said Wednesday its beer sales were up but saw a "challenging and uncertain" economic outlook and couldn't guarantee the same growth for the rest of the year. "We continue to see the economic environment as challenging and uncertain, and will remain agile and focused," he said.
German forecast to offer signs if ailing economy on the mend
The German government will present its latest growth forecasts on Wednesday as Europe's crisis-hit top economy shows tentative signs it is finally turning a corner. But slight improvements in indicators do not mean the government will make any big changes to its forecasts, with analysts still expecting tepid growth this year.
Asian stocks rise on earnings optimism as US data approaches
Asian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity. General Electric, Spotify, and diaper and paper product brand Kimberly-Clark were among the companies posting strong gains after releasing quarterly reports.
Tesla profits tumble but shares rise on new vehicle plan
Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting. Tesla is committed to "company-wide cost reduction" as part of an effort to achieve "profitable growth," it said.
Starbucks set for talks with unionized US stores
Starbucks is set to hold talks with labor representatives from stores that have voted to unionize in a key step towards reaching contracts, both sides said Tuesday. "This is a positive step toward achieving our December goal of reaching ratified contracts for represented stores in 2024."
French police union threatens to disrupt Olympics relay
A French police trade union threatened Tuesday to disrupt the Olympics torch relay ahead of the start of the Paris Games this July unless officers were given bonuses. The Alliance union said that the French prime minister's office and economy ministry were holding up special Olympics payments promised to police of as much as 1,900 euros ($2,032).
French air traffic controller strike threatens flight chaos
French air traffic controllers are to stage a one-day strike Thursday that risks seeing most flights cancelled at the two main Paris airports, France's leading aviation association warned Tuesday. He said 75 percent of flights could be cancelled at Paris Orly airport and 65 percent at Charles de Gaulle, the capital's main airport.
Milei announces Argentina's first budget surplus in 16 years
Argentina's spending-slashing new President Javier Milei has hailed his country's first quarterly budget surplus since 2008 as an "historic achievement." This amounted to a surplus of 0.2 percent of GDP. "This is the first quarter with a financial surplus since 2008," said Milei, referring to his left-wing rival Cristina Kirchner's first year in the presidency.
General Motors lifts 2024 profit forecast after strong Q1
General Motors reported higher profits Tuesday thanks to continued strength in North America that offset a loss in its China business, enabling the carmaker to lift its forecast. GM's strength in its home market helped offset an operating loss of about $100 million in GM's China operation.
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