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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Networks unite to create new sports streaming platform
ESPN, Fox and Warner Bros Discovery have reached agreement on a new streaming platform for live sports content, the companies said on Tuesday. The new platform would provide access to ESPN's existing streaming platform ESPN+ as well as the main channels from ESPN, Fox and Warner Bros.
Ford beats earnings expectations despite rising labor cost
US automaker Ford topped earnings expectations in the fourth quarter of 2023 and is forecasting higher profits this year despite greater labor costs and losses in its electric vehicle segment, according to a financial report released Tuesday. The company expects "higher expenses for labor and major product-refresh actions" this year.
Probe suggests blown-out Boeing jet panel had missing bolts
Four of the bolts securing the panel of a Boeing 737 MAX 9 Alaska Airlines jet that blew off mid-flight last month were missing, according to a preliminary investigation published Tuesday. On 5 January, the panel flew off mid-flight after the Alaska Airlines MAX 9 took off from Portland, Oregon bound for Ontario in California.
Yellen says US commercial property concerns 'manageable'
US Treasury Secretary Janet Yellen expressed concern Tuesday about the commercial real estate sector in the current environment of higher interest rates -- but added that the overall situation should be "manageable." As commercial real estate loans come due, they will need to be "refinanced in a context where vacancy rates in some cities are quite high," Yellen said in testimony.
EU strikes deal on clean tech to compete with China, US
EU states and lawmakers clinched a deal on Tuesday to expand Europe's clean tech production, from solar and wind to carbon capture, as the bloc faces off with China and the United States. Brussels wants to reduce its reliance on China and make Europe more attractive for investment after the United States unleashed a $369 billion bonanza of clean technology subsidies last year.
US raises overcapacity concerns in economic talks with China
Key economic officials from the United States and China concluded a two-day meeting on Tuesday in Beijing, exchanging views on their domestic outlooks and speaking about worries such as overcapacity.
BP bags bumper 2023 profits, rewards investors
British energy giant BP logged multi-billion-dollar annual profits Tuesday despite lower oil prices and following boardroom turmoil, sending its share price rallying thanks also to more big payouts to investors. Reflecting lower oil prices and refining margins last year, BP revealed Tuesday that underlying profit excluding exceptional items halved to $13.8 billion.
Saudi more than doubles 2030 foreign tourism target: minister
Saudi Arabia drew 27 million foreign tourists in 2023 and has more than doubled its goal for the end of the decade, an official said on Tuesday. "We have reached 100 million tourists this year, 77 million from home, 27 million from abroad, over 100 million," Tourism Minister Ahmed Al Khateeb said at a conference organised by Saudi Arabia's sovereign wealth fund, describing the 2023 figures.
UBS to reward shareholders as Credit Suisse-linked losses narrow
Swiss banking giant UBS said Tuesday it would hand shareholders up to $1 billion in share buybacks as it posted a smaller-than-expected quarterly loss stemming from the costs of absorbing fallen rival Credit Suisse.
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