Workers at Vodacom halt strike

(Reuters) - Workers at South African mobile phone operator Vodacom have halted a strike around union recognition and pay, Vodacom said on Thursday.

The Communication Workers Union -- which has around 1,200 members -- went on strike last month after it said Vodacom had refused to recognise it on the grounds that it is too small.


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S.Africa's Mboweni warns on inflation, hints on rates

(Reuters) - South African central bank chief Tito Mboweni warned on Friday inflationary pressures were "more worrying", hinting interest rates may have to rise again in Africa's biggest economy.

The Reserve Bank governor told parliament's finance committee there was no other instrument to tame inflation except rates, referring to commercial bank reserve requirements and restrictions on credit providers.


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Copper Futures Rise Most in a Week in New York on Strike by Mexico Workers

(Bloomberg) -- Copper futures in New York jumped
the most in more than a week after Southern Copper Corp. workers
went on strike at three mines in Mexico.

Employees began a work stoppage at Cananea, Mexico's
largest copper mine, and the Taxco and San Martin zinc mines, a
union spokeswoman said yesterday. Copper has gained 10 percent
since May 30 as labor unrest hampered production in Latin
American countries.


Read more at Bloomberg Commodities News

Copper Rises to Two-Month High as Chilean Mine Strike Threatens Supplies

(Bloomberg) -- Copper rose to a two-month high in
New York after union workers went on strike at a mine in Chile,
the world's largest producer of the metal.

The protest will cut output at Dona Ines de Collahuasi,
Chile's third-largest copper mine, union treasurer Pedro Diaz
said today in a telephone interview. Supply disruptions helped
push copper to a record high in May 2006. The price gained
4.2 percent last week.


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U.S. FERC approves $18 mln BP-California settlement

(Reuters) - The payment will be made to the California Department of
Water Resources, which backed power purchases when wholesale
power prices skyrocketed and rolling blackouts were common
during the energy crisis.




The state's largest utility, Pacific Gas & Electric Co.,
went bankrupt during the crisis. It has since emerged from
bankruptcy.


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Hedge fund IPOs no sure fire way to high returns

(Reuters) - Hedge fund Och-Ziff Capital Management Group, which invests
$27 billion, on Monday became the latest in a small but growing
number of hedge fund and private equity firms to announce plans
for an initial public offering.




GLG Partners LP and Third Point LLC recently announced
their plans after Fortress Investment Group LLC , which
manages $36 billion, went public in February.


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S.Africa's Mboweni warns interest rate "too low"

(Reuters) - South Africa's central bank Governor, Tito Mboweni, warned on Wednesday that interest rates may be too low, hinting they may have to rise again in Africa's biggest economy.

"Maybe we have been far too nice to our people and interest rates have been too low," he told a dinner in Pretoria, adding that inflation data released on Wednesday was disappointing.


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Futures gain on M&A, steady bond yields

(Reuters) - Ventana Medical Systems Inc. , a tissue-based diagnostics specialist, received a takeover offer from Swiss drug maker Roche late on Monday, sending Ventana shares up 52 percent to $78.75 in electronic composite trading.




"There have been so many rumors that there will be no more deals being done. VMSI getting taken out by Roche helps the market out," said Todd Leone, head of listed trading at Cowen & Co. in New York.


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Airbus revamp should not be questioned - Germany

(Reuters) - He added the planned restructuring was an important step to
secure the future of Airbus.




Focus magazine had reported that a new row between France
and Germany was brewing as the Paris government believed the
restructuring measures, which include 10,000 job cuts, went in
Germany's favour.


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