GFM Network News

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Glencore shares jump on debt reduction moves, spending cuts

Johannesburg | Reuters –– Glencore has increased its debt reduction target and deepened its capital spending cuts, stepping up its response to lower commodity prices and boosting its battered shares by 12 per cent on Thursday. The mining and commodities trading firm and owner of Canadian grain handler Viterra said it was targeting net debt […] Read more

South Africa raises minimum farm wage after strikes

South Africa raised the minimum wage for farm workers by up to 50 per cent on Monday in response to a wave of violent strikes, but farmers said the increase would only cause job losses and more unrest in the major fruit exporter. Labour Minister Mildred Oliphant said the new salary, which has jumped to […] Read more