Where now for south africa . After last weeks massive Cabinet Reshuffle, President Zuma may face another vote of No Confidence. We talk you through whats at stake. Third time unlucky . Toshiba shares plunge in tokyo again on reports it may miss its results deadline, for the third time. Welcome to World Business report. Ina in a moment we will look at the Property Market in beijing as well. We begin in south africa where the parliaments speaker is considering a No Confidence vote request from the opposition of president jacob zuma. This comes after the countrys finance minster, Pravin Gordhan, and many other cabinet members, were sacked last week by the president which has had a big impact. Lets talk you through the reaction. Within hours of mr gordhans removal, the south african currency, the rand, fell sharply and was down over 5 against the dollar for the week. The Share Markets were also impacted seeing their biggest drop since 2015 with Government Bonds and Banking Stocks falling h
Reserve to return capital to shareholders. Bank of america has been given conditional approval and will have to resubmit its capital plan while the u. S. Unit of Deutsche Bank and sander has it rejected. The big winner may be citigroup which saw its stock initially rise in after hours training after its capital plan was approved a big change from a year ago when it failed the annual test. Kayla tausche joins us now with more on that. It is a big win for citi kayla. It is. Of course you remember last year when citigroup was rejected on qualitative issues and mike korback said he wanted to take the entirety of 2014 to fix those issues and citigroup by many measures was best in class when capital levels came through in the stress test. And in the form of being able to raise its dividends to 5 cents a share and 7. 8 billion buyback. Previous year only done 1. 2 billion. So this is multiple of what been doing before. Lets talk about how the banks are doing so well. Deutsche bank and sander.
Reserve to return capital to shareholders. Bank of america has been given conditional approval and will have to resubmit its capital plan while the u. S. Unit of Deutsche Bank and sander has it rejected. The big winner may be citigroup which saw its stock initially rise in after hours training after its capital plan was approved a big change from a year ago when it failed the annual test. Kayla tausche joins us now with more on that. It is a big win for citi kayla. It is. Of course you remember last year when citigroup was rejected on qualitative issues and mike korback said he wanted to take the entirety of 2014 to fix those issues and citigroup by many measures was best in class when capital levels came through in the stress test. And in the form of being able to raise its dividends to 5 cents a share and 7. 8 billion buyback. Previous year only done 1. 2 billion. So this is multiple of what been doing before. Lets talk about how the banks are doing so well. Deutsche bank and sander.
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