Stella's Feed
Nov 11, 2014

South Africa’s ailing economy puts investment grade credit status in jeopardy

JOHANNESBURG, Nov 11 (Reuters) – South Africa risks losing
its coveted investment grade credit status within five years if
it fails to recover from an economic slump that prompted a
downgrade by Moody’s last week.

Moody’s decision piled more pressure on President Jacob
Zuma’s administration as it struggles to rein in public debt,
now nearing 50 percent of economic output, compared with about
27 percent just five years ago.

Oct 17, 2014

South Africa’s economic doldrums heighten disillusionment with ANC

JOHANNESBURG, Oct 17 (Reuters) – Finance Minister Nhlanhla
Nene will have his work cut out at next week’s budget to try and
reassure disillusioned South Africans that the government still
has gas in its tank to pull the economy out of the doldrums.

Twenty years after Nelson Mandela swept the African National
Congress to power, pledging to unleash the economy and ensure
universal access to quality education, jobs and houses, very
little of the optimism that engulfed the country then remains.

Sep 13, 2014

Pistorius found guilty of culpable homicide

PRETORIA (Reuters) – Olympic and Paralympic track star Oscar Pistorius was convicted of culpable homicide on Friday, escaping the more serious charge of murder for the killing of his girlfriend, and will now battle to avoid going to prison.

The 27-year-old double amputee, who became one of the biggest names in world athletics, stood impassively in the dock, his hands folded in front of him, as Judge Thokozile Masipa delivered her verdict.

Sep 12, 2014

Oscar Pistorius found guilty of culpable homicide

PRETORIA (Reuters) – Oscar Pistorius was convicted of culpable homicide on Friday, having escaped the more serious charge of murder for the killing of his girlfriend, and the Olympic and Paralympic track star could face a lengthy prison sentence.

The 27-year-old double amputee, who became one of the biggest names in world athletics, stood impassively in the dock, his hands folded in front of him, as Judge Thokozila Masipa delivered her verdict.

Sep 12, 2014

Pistorius due back in court for culpable homicide ruling

PRETORIA (Reuters) – Oscar Pistorius returns to court on Friday after being cleared of murdering girlfriend Reeva Steenkamp, but the South African Olympic and Paralympic sprinter could still be convicted of culpable homicide for the “negligent” shooting of the model.

The double-amputee, once one of the biggest names in world athletics, has reason to fear a guilty verdict after Judge Thokozile Masipa adjourned on Thursday seconds after saying key elements of culpable homicide were satisfied in the Valentine’s Day 2013 shooting.

Sep 12, 2014

Pistorius cleared of murder, culpable homicide verdict to come

PRETORIA (Reuters) – Oscar Pistorius was cleared on Thursday of murdering girlfriend Reeva Steenkamp but the Olympic and Paralympic track star faces a troubled night after the South African judge adjourned for the day before ruling on a charge of culpable homicide.

The double-amputee, once one of the biggest names in world athletics, has reason to fear a guilty verdict after Judge Thokozile Masipa adjourned seconds after saying key elements of the culpable homicide charge were satisfied when he shot Steenkamp dead on Valentine’s Day last year.

Sep 11, 2014

South African judge clears Pistorius of murder charges

PRETORIA (Reuters) – A South African judge cleared Oscar Pistorius of all murder charges on Thursday, saying prosecutors had failed to prove the Olympic and Paralympic track star intended to kill his girlfriend or an imagined intruder on Valentine’s Day last year.

A verdict on the less serious charge of culpable homicide is still to come.

Although judge Thokozile Masipa described the 27-year-old as a “very poor” and “evasive” witness, she said this did not mean the track star was necessarily guilty in a case she said was based entirely on circumstantial evidence.

Sep 11, 2014

Pistorius arrives for murder trial judgement day

PRETORIA (Reuters) – Oscar Pistorius, the South African double amputee who became one of the biggest names in world athletics, arrived at the Pretoria High Court on Thursday for the verdict in his 6-month murder trial, a decision that could put him behind bars for 25 years.

In a fitting reminder of how South Africa has changed in the 20 years since apartheid, the fate of Pistorius, a wealthy white man from privileged roots, rests in the hands of a 66-year-old black woman from Soweto, Judge Thokozile Masipa.

Jul 1, 2014

South Africa engineering strike latest blow to sickly economy

JOHANNESBURG, July 1 (Reuters) – A strike by more than
220,000 South African engineering workers, hot on the heels of a
crippling platinum boycott which ended last week, will deal a
fresh blow to an economy that contracted in the first quarter.

Members of the National Union of Metalworkers of South
Africa (NUMSA), the country’s largest union, were downing tools
on Tuesday and gearing up for protest marches after last-gasp
talks failed to yield a deal on wages and other issues.

May 27, 2014

Protracted platinum strike pushes South Africa towards recession

PRETORIA, May 27 (Reuters) – South Africa’s economy shrank
in the first quarter of this year, the first quarterly
contraction since a recession five years ago, as mining output
plummeted due to a protracted strike in the platinum sector.

The economic decline presents a challenge for new Finance
Minister Nhlanhla Nene, appointed this week to steer an economy
that has struggled to grow by more than 2 percent annually or
generate many new jobs since the 2009 recession.