Business
Rand slips as COVID-19 and economic clouds gather
Losses in the day were also spurred by low liquidity as the US market was closed for a bank holiday.
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Labour Minister Nxesi wants every UIF COVID-19 relief transaction audited
Labour and Employment Minister Thulas Nxesi said that the UIF had been able to identify 75 cases of suspicious transactions.
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COVID-19: Frustrated hotel owners plead for insurance payouts
Many of these firms pay business interruption insurance to cover costs for when an event like a global pandemic hits, but now some insurers are not coming through.
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Old Mutual makes acting CEO Williamson permanent
Iain Williamson’s appointment ends over a year of uncertainty over who will lead one of the country’s biggest insurers following the abrupt dismissal of former CEO Peter Moyo in June 2019 after a conflict of interest dispute.
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National Treasury: SA can’t afford to spend more
National Treasury said that it could not spend more money as the country faced a debt crisis.
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Rand opens stronger after positive data
At 0650 GMT, the rand traded at 16.9350 versus the dollar, around 0.3% firmer than its previous close.
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Virus hands Japan pension fund worst loss since 2008 crisis
The Government Pension Investment Fund (GPIF) said it recorded losses amounting to 8.28 trillion yen ($77 billion) for the fiscal year that ended in March.
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Treasury: 'No further action' to bailout SAA
The South African government wants creditors to back a restructuring plan for SAA but did not allocate new bailouts for the loss-making state airline in an emergency budget last week.
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Coronavirus costs Africa travel, tourism almost $55 bln
Amani Abou-Zeid told a news conference the economic impact of lockdowns and border closures to curb the spread of the virus would be severe, with the continent’s air industry hit particularly hard.
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Take SAA's severance packages or risk it with liquidation, dept to unions
The department said it had given everything it could to the voluntary severance packages and would not consider the union’s demands, which it called unreasonable.
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Rand firmer as current account surplus adds to global risk boost
The advance, which carried the currency to a session-best 16.8750, brought gains in the past two sessions to more than 2%, although the outlook remains fragile following weak local economic growth data and a resurgence in COVID-19 infections.
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4 unions' buy-in means just a vote for SAA's business rescue plan is left
SAA's business rescue plan published last month proposed that over 3,000 workers at SAA be retrenched.
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Job hunting? This CEO is hiring and interviewing remotely – he has advice
"We’ve hired people we haven’t met in person," says Karl Hammerschmidt. "There are things you can still do to impress."
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Angola is resisting Saudi OPEC pressure to comply fully with oil cuts - sources
Saudi Arabia has been pressing laggards such as Iraq, Kazakhstan, Nigeria and Angola to improve compliance with the cuts and compensate for May overproduction.
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4 unions ready to take SAA voluntary severance packages - govt
In a statement, government said that the National Transport Movement, South African Transport and Allied Workers Union, the Aviation Union of Southern Africa and Solidarity had stepped forward to take up the deal.
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Traders thought Apple had 'the holy grail' of oil data, but the quest continues
Apple’s mobility data is based on search information rather than distance travelled.
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Makwetu criticises KZN municipalities after 'no change' in last audit outcome
Irregular expenditure among the country's municipalities has increased to R32 billion in the 2018/19 financial year.
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The official word is that leisure travel is not allowed - Fedhasa
The tourism ministry has confirmed that leisure travel is not allowed under level 3 lockdown despite earlier claims to the contrary.
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Some Limpopo municipalities still reeling impact of VBS losses, says Makwetu
Service delivery was also affected in these municipalities, with the Makwetu adding that cost-containment measures and recovery plans were introduced in the hope of recovering from the 'huge financial loss'.
