South Africa's Zuma says has confidence in finance minister, can't intervene in probe
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
ANC leader Jacob Zuma greets supporters during his election campaign in Atteridgeville, South Africa July 5, 2016. REUTERS/Siphiwe Sibeko/File Photo
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
JOHANNESBURG (Reuters) - South African President Jacob Zuma said on Thursday he has full confidence in Finance Minister Pravin Gordhan, who is under police investigation over a suspected spy unit at the tax service.
Zuma said he could not intervene in the investigations despite the negative impact the probe has caused on the economy, according to a statement released by the presidency.
The rand, which had tumbled since Tuesday in response to the investigation, extended gains to 1.3 percent after Zuma's statement.
(Reporting by James Macharia; editing by John Stonestreet)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Huge crowd of mourning Thais sings royal anthem in honor of late king
- Canadian minister says up to EU to save trade deal
- Nordea chairman says merger with ABN Amro would create 'fine bank'
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!