South Africa's central bank left its benchmark repurchase rate at 6.75 percent, citing "heightened uncertainties in the economy" as capital investments continue to contract due to low business confidence and political uncertainty.

South Africa's central bank cut its benchmark repurchase rate by 25 basis points to 6.75 percent on an improved outlook for inflation but slashed its forecast for economic growth following a surprise decline in output in the first quarter.

Moody's Investors Service today downgraded the long-term issuer and senior unsecured ratings of the Government of South Africa to Baa3 from Baa2 as well as the senior unsecured Shelf and MTN program ratings to (P)Baa3 from (P)Baa2, and assigned a negative outlook. The government's senior unsecured short-term program rating was also downgraded to (P)P-3 from (P)P-2. The rating actions conclude the review for downgrade that commenced on 3 April 2017.

General Motors (NYSE: GM) today announced key restructuring actions in its GM International operations to drive stronger financial performance and focus its capital and resources on business opportunities expected to deliver higher returns.