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France and Britain struggle to curb migrant surge

Illegal migrants head for the Eurotunnel  site near Calais, northern France, on Wednesday. A Eurotunnel spokesman says about 2,000 migrants tried to enter on Tuesday night. Picture: REUTERS/PASCAL ROSSINGNOL

Countries promise to beef up security as man dies in Channel Tunnel stampede — the ninth fatality since early June

Middle East

Iran hails new co-operation with France’s Total

Patrick Pouyanne. Picture: AFP PHOTO/ERIC PIERMONT

Iran looks forward to working closely with French energy company, Oil Minister Bijan Zanganeh tells Shana agency after meeting France’s foreign minister


Greek PM says may have to call early election

Greek Prime Minister Alexis Tsipras speaks during a live interview at Sto Kokkino radio station in Athens, Greece, on Wednesday. Picture: BLOOMBER/KOSTAS TSIRONIS

Revolt in Syriza party against latest bailout reforms forces Greek Prime Minister Alexis Tsipras into election poser to secure parliamentary majority


Venezuela debt default looms

Harvard economist Ricardo Hausmann suggested last year that Venezuela stop honouring its debt altogether. Picture: ROBERT BOTHA

Economists differ on diagnosis, write Katia Porzecanski and Sebastian Boyd


Dutch prime minister appeals to Putin ahead of MH17 tribunal vote at UN


Mark Rutte makes ‘urgent’ appeal to Russian President Vladimir Putin not to veto UN Security Council resolution to try those who shot down flight MH17 over Ukraine


Chinese steel exports disrupt markets

A stainless steel product line is seen at a factory of Baosteel Group Corp., China's biggest steel maker, in Shanghai in this July 6 2010 file photo.  Picture: REUTERS

Analysts and competitors rail against ‘extraordinary levels’ of steel exports from China


Greeks paying, but getting nothing

Greek Prime Minister Alexis Tsipras’ brinkmanship has been as unhelpful in the sorry saga of the Greek crisis as German Chancellor Angela Merkel’s hardline approach. Picture: REUTERS

When Alexis Tsipras cocked a snook at Angela Merkel over the possibility of a Grexit, the world held its breath. Were we, at last, going to renegotiate the way the globe’s floundering financial system works?


Fighting graft will not end poverty

Pope Francis. Picture: AFP PHOTO/TIZIANA FABI

Countries are poor because governments are corrupt. Unless they ensure public resources are not stolen and public power is not used for private gain, they will remain poor, right?

Picture: REUTERS

Chinese jewellers’ woes bode ill for gold

Global demand for gold coins and bars fell 12% in the second quarter


Trump may have overestimated his net worth

Republican Presidential candidate Donald Trump addresses supporters during a political rally at the Phoenix Convention Center in Phoenix, Arizona. Picture: AFP

Bloomberg billionaires index reveals portfolio dominated by skyscrapers and golf courses. Donald Trump says he is worth more than $10bn


Nokia unveils virtual reality camera for filmmakers

Picture: REUTERS

Ball-shaped gadget captures 3D footage for content creation for devices such as increasingly popular headsets that let users immerse themselves in virtual games


President set for flak over new Guantanamo plan

The fence topped with razor wire and the watch tower of the Camp VI detention facility at the US Naval Station in Guantanamo Bay, Cuba. Picture: AFP PHOTO/MLADEN ANTONOV

Draft plan for closing Guantanamo jail to call for the transfer to US prisons of possibly dozens of inmates deemed too dangerous for release


Bail-out negotiations start amid push for more Greek reforms


Among politically sensitive measures initially held back are now expected include curbs on early retirement and changes in the taxation of farmers to close loopholes


Thirty-five of Bill Cosby’s alleged victims speak out

This image courtesy of New York Magazine shows the cover of the July 27-Aug 9, 2015 edition featuring 35 women who have accused Bill Cosby of sexual assault. Picture: AFP/AMANDA DEMME/NEW YORK MAGAZINE

New York magazine cover story is largest exposé yet of alleged abuse from women who have publicly accused Bill Cosby of assault


Air China to raise up to $1.93bn to fund aircraft order

Air China plane, with Chinese President Xi Jinping onboard, taxis shortly after landing in Ufa, Russia. Picture: REUTERS/BRICS/PHOTOHOST/RIA NOVOSTI

Air China aims to raise up to 12-billion yuan in private placement of A-shares to help fund purchase of 15 Boeing aircraft and upgrade its direct sales service


White House says Snowden should ‘come home, be judged’

Former CIA computer technician Edward Snowden. Picture: REUTERS

White House rejects call to pardon Edward Snowden, saying former intelligence contractor should ‘be judged by jury of his peers’ for leaking US government secrets

International companies


Facebook profit dips, revenue surges on mobile ads

Mark Zuckerberg, Facebook’s co-founder and CE. Picture: REUTERS

World’s biggest social network sees higher expenses cut into its bottom line as it invests in new technologies


German regulator orders Facebook to allow pseudonyms

Facebook’s Innovation and Entrepreneurship Lab — inaugurated during the launching of the ‘Facebook in the Community’ project in Sao Paulo, Brazil. Picture: AFP

Forcing users to stick to their real names violates privacy rights, says German authority, while Facebook declares authentic names protects people safety and privacy


VW overtakes Toyota to take lead in global sales

An employee holds an emblem for a Volkswagen Golf car in a production line at the Volkswagen headquarters in Wolfsburg, Germany, in this November 14 2008 file photo.  Picture: REUTERS

Volkswagen in first place as biggest vehicle maker three years ahead of its target

Masashi Muromachi, chairman and interim president of Toshiba Corporation (left) sits with Hisao Tanaka, outgoing president and chief executive officer, during a news conference in Tokyo, Japan, on Tuesday. Picture: BLOOMBERG/AKIO KON

Toshiba cuts executives’ pay over accounting scandal

Company says 16 executives will take temporary pay cuts while another resigns in wake of billion-dollar accounting scandal


Playground fun over as insurers back off from Toys ‘R’ Us

Boom days, when stores like this one in New York were filled with customers, seem to be over for Toys ’R’ Us. The company has suffered losses and its share price is falling. Picture: BLOOMBERG

New headache for toys retailer after it suffers more than two years of losses


China switching to African oil may lead to Saudi price cut


Weakness in Brent prompts China to buy more crude from Africa, but question now is how top exporters Saudi Arabia, Russia will respond to shifting dynamics

African News

Obama urges Ethiopia to open up

Ethiopian Prime Minister Hailemariam Desalegn greets US President Barack Obama as he arrives at the National Palace in Addis Ababa on Monday. Picture: REUTERS /TIKSA NEGERI

US president says allowing more freedoms will strengthen Ethiopia, once a famine-stricken country which has lifted millions out of poverty


Chinese slump could halt Fed hike

People visit the China Shipbuilding Corporation booth during an expo in Beijing last week. Falling profits in China’s industrial sector sparked a fresh slide in Chinese shares on Monday. Picture: AFP PHOTO/WANG ZHAO

Any further deterioration in the financial markets that could be triggered by China would push back a rate hike, says analyst


Brazil’s biggest party sticks with unpopular Rousseff — for now

Dilma Rousseff. Picture: AFP PHOTO/EVARISTO SA

Brazilian president Dilma Rousseff struggling to save her presidency amid worst economic downturn in 25 years and political crisis sparked by massive kickback scandal


German regulator orders Facebook to allow pseudonyms

Facebook’s Innovation and Entrepreneurship Lab — inaugurated during the launching of the ‘Facebook in the Community’ project in Sao Paulo, Brazil. Picture: AFP

Forcing users to stick to their real names violates privacy rights, says German authority, while Facebook declares authentic names protects people safety and privacy


Airbnb announces plans for accelerated SA growth


Online accommodation booking platform Airbnb announces plans to accelerate growth in South Africa, which it says is its largest African market


BP falls into second quarter loss on oil spill charge, price slump

PR NIGHTMARE: Smoke billows from controlled oil burns near the site of the BP  oil spill in the Gulf of Mexico in 2010.   Picture: BLOOMBERG/DERICK E HINGLE

BP says it sank into red in second quarter, after taking vast $10.8bn hit on costs linked to deadly 2010 Gulf of Mexico oil spill as well as knock from oil price slump


GM to invest $5bn on new Chevrolet for emerging markets

Chevrolet cars are seen at a General Motors dealership. Picture: REUTERS

General Motors announces plans to introduce new family of cars under Chevrolet line targeting emerging markets and co-developed by Chinese partner SAIC Motor

Gadgets & Gear

Google gives up on Google+ as a Facebook rival

Technology company puts final nail in coffin of its ambition to make Google+ real competitor to leading social networks


UBS shareholders can expect another 50% dividend payout, says CEO

Sergio  Ermotti . Picture: BLOOMBERG/GIANLUCA COLLA

CEO Sergio Ermotti says the bank also plans to distribute a special dividend in addition to payout promised more than a year ago


Offshore wind power gets foothold in US


Rhode Island’s Deepwater Wind begins installing foundations for North America’s first offshore wind farm


Germany says Greece must aim for ‘ambitious’ reforms in bail-out talks

The Greek and the European Union flags flutter in front of Maximos Mansion at the Prime Minister offices, in Athens, Greece, on Monday.  Picture: REUTERS

Greece should aim for ambitious reforms in negotiations on third bail-out programme, finance ministry says, adding talks should be conducted without any time pressure


Maldives to allow foreigners to own land


Legislators vote to allow foreign ownership of land for first time, triggering concern over possible landgrab in honeymoon islands


AT HOME AND ABROAD: A world in political flux with some sharp lessons for SA

The rating agencies are looming over us, waiting to give this country junk status ratings

Alcohol consumption. Picture: THE TIMES

Diageo dissolves Heineken venture to go solo in SA

Diageo to dissolve venture with Heineken in SA, neighbouring Namibia three years earlier than planned so distiller can fully own its operations in those countries


China pledges support after shares slump 8.5%

Picture: REUTERS

China will unleash more funds to stabilise its jittery share market, state media report, after Shanghai stocks post biggest daily fall for more than eight years


EU berates SA over letting Bashir escape

Omar al-Bashir. Picture: EPA/KIM LUDBROOK

European Union delegation says SA should have prevented Sudanese President Omar al-Bashir from leaving country as ANC maintains the country’s failure to arrest him 'for the greater good of humanity'


A silver lining in Greece crisis?

Sirius and Redefine provide investors with a free option on the deutsche mark


Hillary Clinton pledges to be America’s renewable energy president

Hilary Clinton. Picture: AFP/JEWEL SAMAD

Ms Clinton lays out ambitious plans to invest in solar, other renewable energy if elected president, drawing contrast with fossil-fuel-loving Republican rivals


The only six stocks that matter

New York Stock Exchange. Picture: BLOOMBERG/JIN LEE

Handful of companies have driven gains in major US stock indices this year, raising fresh concern about health of market

Middle East

Turkey could ‘tip Syria balance’ as Kurdish villages shelled

A left-wing activist throws a Molotov cocktail during clashes with Turkish riot police in Istanbul's Gazi district on Sunday. Picture: AFP PHOTO/BULENT KILIC

Prime Minister Ahmet Davutoglu says military intervention may tip the scales against Kurdish separatists and Islamic State jihadists in the region


Pacific treaty faces tough challenges in final leg


Trans-Pacific Partnership free trade and investment pact is shrouded in secrecy as negotiations head into the final stage


Vodafone plans to cut up to 1,300 jobs in Spain

ASPIRATIONS: With potential buyers likely tied up with other deals, Vodafone will be on its own into building up out its internet infrastructure and restoring revenue growth.  Picture: BLOOMBERG

British telecom giant plans to lay off about a fifth of workforce, from its Spanish division, which bought cable provider ONO last year


Alstom shells out again to keep GE deal on track

Picture: AFP

French engineering company to accept less than previously agreed for power turbines unit from General Electric as way to win antitrust clearance in Europe


IMF says ECB may need to extend money printing to get eurozone moving

US dollar, euro and Swiss franc banknotes are displayed in a bank in Budapest, Hungary. Picture: REUTERS

Eurozone growth will be subdued over medium term and European Central Bank may need to extend money-printing programme for longer than planned


Mortgages drive pick-up in eurozone lending


Bank lending across eurozone improves further in June as home buyers dash for cheap loans and brush off uncertainty over Greece, ECB data show


Cameron brings EU vote forward

British Prime Minister David Cameron. Picture: AFP PHOTO/PAUL ELLIS

Prime Minister David Cameron plans to hold referendum on the UK’s membership of the European Union in June next year

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