First with the name of South Africa’s new finance minister

Reuters clients had an advantage of more than an hour on the most keenly awaited news after South Africa’s election - the name of the new finance minister. Reuters broke the news well ahead of the official announcement on May 10 from a source close to the administration. The story told subscribers that former tax authority head Pravin Gordhan would replace Trevor Manuel, who would head the country’s new planning commission. The new finance minister and the fate of Manuel were the subject of intense speculation to determine whether South Africa`s sound macro-economic policies would continue under new president Jacob Zuma. Reuters also beat Bloomberg on the official announcement.