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'Disastrous' gridlock hits S. Africa's busiest port
'Disastrous' gridlock hits S. Africa's busiest port
Economy
by  AFP

More than 60,000 containers are stuck at sea waiting to be offloaded at South Africa's biggest port amid gridlock blamed on bad weather and equipment failures that is damaging the poor economy, according to business and political groups. Transnet has said the delays in Durban are the result of bad weather compounding breakdowns, ageing equipment and other issues.

Gucci design studio strikes over move to Milan
Gucci design studio strikes over move to Milan
Economy
by  AFP

Some 40 artisans from Gucci's design studio downed tools Monday in the creatives' first ever strike, held over plans to move much of the team from Rome to Milan. While 153 employees are due to be transferred to Milan by March, the fate of the 66 other artisans due to remain in Rome "is uncertain", according to the unions.

Sales of new US homes slow in October
Sales of new US homes slow in October
Economy
by  AFP

New home sales in the United States decelerated in October, according to government data released Monday, although the market for new properties remains boosted by a lack of inventory for existing ones. The resulting lack of supply for existing homes has nudged more buyers into the market for new houses instead, even as they grapple with affordability.