Consumer inf lation, Amplats profit down

SOUTH Africa’s headline consumer inflation unexpectedly slowed in May, adding to recent data that could prompt the Reserve Bank to keep interest rates on hold next month. Stats SA said CPI was at 6.1% year on year in May, against 6.2% in April.

CELLPHONE operator MTN Group named Vodafone European cluster head Rob Shuter as its new CEO, ending a near eightmonth hunt for a boss. Shuter replaces Sifiso Dabengwa, who resigned in November last year.

POLAND would launch poultry exports to South Africa for the first time from this month in a deal granting one of the EU’s top poultry producers unlimited access to Africa’s most industrialised country, a Polish trade official said.

SOUTH Africa had resolved all outstanding issues pertaining to the African Growth and Opportunity Act, guaranteeing the country access benefits until 2025‚ the Department of Trade and Industry said.

THE Reserve Bank’s leading business cycle indicator dipped 0.9% month on month in April, mainly due to a deceleration in real money supply growth. The indicator collects data, including business confidence, to gauge the outlook for South Africa.

ANGLO American Platinum expected half-year profit to fall by at least 20% due to weaker metal prices, Amplats said. It would make a further announcement once it had determined a likely range for its headline earnings per share.

ESKOM’S latest pay hike offer could result in deeper cost-cutting, it said. The state power utility confirmed it had proposed increasing the salaries of blue-collar workers by 7%, upping its offer from 5.75%, during wage talks.

GENERAL Motors South Africa had begun talks with workers to reduce employment at its Struandale vehicle assembly plant in Port Elizabeth‚ in the face of shrinking local and export demand for its products, it said.