Tuesday, September 2, 2014

South Africa's JD Group soars on news of finance unit sale

Posted by My Blog Collection at 1:10 AM

Shares of South Africa's JD Group jumped more than 5 percent in early trade on Tuesday after the struggling furniture retailer said it would sell its financing arm, after getting hit by exposure to the troubled consumer debt market. Companies in South Africa are scrambling to scale back credit to low-income consumers, who are struggling to repay loans in the face of the weak economy and rising ...



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