Flash Briefing: Edcon rescues 30,000 jobs; SA climbs in Fraser mining index; MSCI pushing China shares; Vale CEO resigns

In today’s global business headlines… Chinese share prices, which have risen by a third this year to become the world’s best performers for 2019, have further upside according to a couple of investment heavyweights. January’s deadly slimes dam burst in Brazil, where 186 people are confirmed dead and another 122 are still missing, has claimed its first corporate casualties with yesterday’s resignation of the chief executive and two lieutenants at Brazilian mining giant Vale. Still with mining, the American state of Nevada came top of 83 mining jurisdictions in the 2018 Fraser Institute’s annual survey of mining’s most attractive destinations. Nevada, which rose from third in 2017, was followed by Western Australian (5th in 2017) and Canadian province Saskatchewan which fell one place last year. In South African related news, major retailing group Edcon secured a life-saving deal with creditors almost a year after it began negotiating the refinancing of a debt mountain created in 2007 by private equity investors Bain Capital.