South Africa's National Union of Mineworkers (NUM) wants Deputy President Cyril Ramaphosa to succeed President Jacob Zuma as leader of the ruling African National Congress (ANC), it said on Monday. A decision has been taken "to support the candidacy of Cyril Ramaphosa for president", NUM, one of South Africa's biggest unions, said in a statement. Zuma is expected to stand down as the ANC president at a party conference late next year, ahead of national elections in 2019 when his tenure as the country's leader will come to an end.
By William James LIVERPOOL, England (Reuters) - Britain's opposition Labour Party promised on Monday to use borrowed money to protect struggling industries and spur growth, setting out an economic policy it hopes will re-engage with working class voters who backed leaving the European Union. Predicting a snap election next year, Labour is using its annual conference to outline its plans to win back the voters that abandoned the party at a 2015 election and spurned the political establishment by backing Brexit. Labour re-elected leader Jeremy Corbyn on Saturday following a failed attempt to oust him after the EU referendum.
By Ludwig Burger FRANKFURT (Reuters) - Lanxess AG is to buy U.S. speciality chemical company Chemtura for 2.4 billion euros ($2.69 billion) including debt in the German company's largest ever takeover, moving it further away from its main synthetic rubber business. Lanxess's offer of $33.50 per share is a premium of about 19 percent to the Philadelphia-based company's share-price close on Friday. The world's largest synthetic rubber maker will use existing funds and new debt to buy Chemtura, Lanxess said in a statement, describing the deal as its largest ever acquisition.