Bloomberg South African President Cyril Ramaphosa mounted a defense of his corruption-fighting record and promised consequences for the architects of a massive scheme to defraud the state days after the head of a judicial inquiry found that he had stood by while the looting happened. In a column carried by the Sunday Times, Ramaphosa detailed his efforts to rebuild ...

  Bloomberg Canadian banks fall about 20% from their record high set in early February as recession fears send investors fleeing. The S&P/TSX Commercial Banks Index, which tracks the country’s eight largest lenders, dropped, adding to another day of losses after inflation in Canada surged to a four-decade high and US data pointed to rising unemployment and slumping manufacturing and ...

  Bloomberg Barclays Plc has agreed to buy Kensington Mortgage Company Ltd, expanding the reach of its offering in Britain’s housing market. The lender’s UK unit will pay about £2.3 billion ($2.8 billion) for the specialist mortgage lender that is owned by Blackstone Inc. and Sixth Street, according to a statement. Kensington, which is based in Maidenhead, England, and has ...