Africa News
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The U.S. Federal Reserve must ensure “minimal damage” to emerging markets from plans to reduce bond purchases, South African Finance Minister Pravin Gordhan said.
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Sibanye Gold Ltd., which mines all of its metal in South Africa, said it will trim 305 million rand ($31 million) of annual costs in addition to plans set out before its spinoff from Gold Fields Ltd. in February.
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Times Media Group Ltd., a South African publisher, will start a new television station and seek growth opportunities in southern and west Africa as it begins to rejig its portfolio to boost profit.
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The largest mining companies traded in London cut pay for their chief executive officers by an average 23 percent last year, as boards punished several top managers after a wave of failed deals.
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