South Africa is lucky to have been able to reclaim the country from a president (Jacob Zuma) who used business as a scapegoat and called it the enemy, Bonang Mohale, CEO of Business Leadership South Africa (BLSA), said on Tuesday.

Wells Fargo has been fined a record $1bn by two US regulators to resolve investigations into car insurance and mortgage lending breaches.

The penalties have been imposed by the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency.

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