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Monday, May 11, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

President Jacob Zuma made sweeping changes to Cabinet on Sunday as he unveiled a team of 34 ministers that marks a break with the Mbeki era but retains some of its most experienced people.

Trusted longtime finance minister Trevor Manuel will work closely with Zuma as the head of the powerful new National Planning Commission, created to implement government's socio-economic vision.

Manuel will be succeeded at the Treasury by Pravin Gordhan, the South African Revenue Service Commissioner of the past decade. Zuma kept more experience on deck by persuading a reportedly reluctant Kgalema Motlanthe to become his deputy president.

The ANC said that the Cabinet would realise Zuma's vision of renewal for the country.

Trading conditions for diversified industrial group Barloworld had remained tough in the first six months of the 2009 financial year, especially for its international operations.

CEO Clive Thomson said that trading in equipment in Southern Africa had continued to be strong, while the automotive division had performed well in difficult markets.

However, challenging trading conditions prevailed in the international operations and restructuring charges of about 114-million-rand, principally in Iberia, were incurred to realign its cost base with lower activity levels.

Thomson added that negative financial instrument adjustments and higher net finance costs had also impacted on the group's profits for the six months ended March 31, 2009.

Also making headlines:

A World Bank report states that investment promotion intermediaries should rethink their strategies.
The Airbus super jumbo programme is exiting the turbulence zone.
South Africa will create a large marine-protected area around the Prince Edwards Islands.
And, Cosatu attempts to stop the Telkom/Vodafone deal.

That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.