Breaking News

Overnight Top Business Stories – 15 November

1) Goldman Stumbles on Path to Main Street With Apple Card Turmoil Lending money to ordinary Americans, Goldman Sachs Group Inc. says, represents a major part of the future of a Wall Street titan more accustomed to dealing with the world’s biggest corporations. But a series of perceived missteps over its flagship Apple Card has […]

View Share

Today’s Top 8 Business Stories – 14 November

1) South Africa Braces for Travel Chaos as Airline Staff Strike A showdown between South Africa’s government and its workers whose salaries are straining the national budget just got ugly — and looks set to get a whole lot worse. The National Union of Metalworkers of South Africa and the South African Cabin Crew Association, […]

View Share

Overnight Top Business Stories – 13 November

1) Nike Will End Pilot Project Selling Products on Amazon Site Nike Inc. is breaking up with Amazon.com Inc. The athletic brand will stop selling its sneakers and apparel directly on Amazon’s website, ending a pilot program that began in 2017. The split comes amid a massive overhaul of Nike’s retail strategy. 2) S. African […]

View Share

Overnight Top Business Stories – 12 November

1) Gold Fields Says South Africa Mine Turnaround Opens Way for Deal Gold Fields Ltd. said the turnaround of South Deep opens the way for the company to do a deal at its last South African mine. The company would consider different “corporate structures” for South Deep, after it returned to profit in 2019 following […]

View Share

Today’s Top 8 Business Stories – 11 November

1) Vodacom Pays Special Dividend After Turnaround in South Africa Vodacom Group Ltd. announced a special dividend for shareholders alongside a boost in first-half earnings as the South African wireless carrier turned around operations in its home market. * South African service revenue rose 1.5% in the six months through September after a decrease in […]

View Share

Today’s Top 8 Business Stories – 7 November

1) Here’s What Awaits South Africa If Moody’s Downgrades It to Junk Most analysts following South Africa expect it to lose its final investment-grade rating. But they disagree over when that might happen and what the consequences would be. The gloomiest reckon it would trigger more than $10 billion of outflows and cause the rand […]

View Share

Today’s Top 8 Business Stories – 6 November

1) South Africa Makes Headway in $100 Billion Investment Drive South African President Cyril Ramaphosa said his administration is on track to lure $100 billion in new investment within five years, with more than $16 billion already committed and many more projects in the pipeline. 2) Goldman Sub-Saharan Africa Head Urges Ramaphosa to Be Aggressive […]

View Share

Overnight Top Business Stories – 5 November

1) China Wants Trump Tariff Rollback as Price for Phase One Deal China is seeking the roll back of U.S. tariffs on as much as $360 billion of Chinese imports before President Xi Jinping agrees to go to the U.S. to sign a partial trade deal with President Donald Trump, according to people familiar with […]

View Share

Today’s Top 8 Business Stories – 4 November

1) Shoprite May Consider Africa Exits as Sales Fall Away From Home Shoprite Holdings Ltd. started a review of supermarket operations outside South Africa and would consider exiting certain countries if that would help reverse regional sales declines. Africa’s biggest grocer reported a 4.9% fall in third- quarter revenue when its main market is excluded, […]

View Share

Overnight Top Business Stories – 1 November

1) Trump Is on Treacherous Ground After Impeachment Inquiry Vote Donald Trump’s presidency stands on its most treacherous ground after the House voted Thursday to approve and proceed with its impeachment inquiry. The resolution, passed on a largely party-line 232-196 vote, does not just lay out a road map for the public phase of the […]

View Share

Today’s Top 8 Business Stories – 31 October

1) Steinhoff Mulls Sale of 25% of European Unit in IPO Next Year Steinhoff International Holdings NV is considering the sale of about a quarter of Pepco Group through an initial public offering that could value the European retailer at more than 4 billion euros ($4.4 billion), according to people familiar with the matter. View Share […]

View Share

Overnight Top Business Stories – 30 October

1) Deutsche Bank Revenue Falls Again on Fixed Income Trading Slump Deutsche Bank AG can’t stop the shrinking even after it shed its unwanted businesses. Germany’s largest lender, reporting its first quarterly results after deciding to exit equities trading and slash a fifth of the workforce, saw revenue from its remaining businesses fall 4% in […]

View Share

Today’s Top Business Stories – 28 October

1) Sasol’s $13 Billion U.S. Blunder Costs Co-CEOs Their Jobs Sasol Ltd. named a new chief executive officer to replace co-CEOs Bongani Nqwababa and Stephen Cornell as the company seeks to draw a line under the disastrous development of an almost-$13 billion chemicals plant in the U.S. The delays and massive cost overruns at the […]

View Share

Overnight Top Business Stories – 25 October

1) Boris Johnson’s Election Bid Casts Doubt Over EU Brexit Delay Boris Johnson’s efforts to break three years of gridlock in the U.K. Parliament with another election were thrown into doubt after his main opponent demanded he rule out a no-deal Brexit first. Labour Party Leader Jeremy Corbyn said Thursday that his decision on backing […]

View Share

Overnight Top Business Stories – 24 October

1) AstraZeneca Raises Sales Forecast as China Market Burgeons AstraZeneca Plc raised its 2019 sales outlook again, helped by expansion in the key China market and new drugs for cancer. 2) ABB Probed for Payments Connected to South Africa’s Eskom ABB Ltd. is being investigated for suspect payments related to work carried out by the […]

View Share

Early Bird Overnight Top Business Stories – 23 October

1) Malaysia Privately Discusses Goldman Penalty of Just $2 Billion Again and again, Malaysia has publicly demanded Goldman Sachs pay an eye-popping $7.5 billion for its role in the 1MDB scandal. But privately, Malaysian negotiators are considering settling for a fraction of that. 2) Boeing Max Design Faulted in Lion Air Crash, Indonesia Says Flaws […]

View Share

Today’s Top 8 Business Stories – 22 October

1) South African Opposition’s Implosion Gives ANC a Free Pass South Africa’s opposition Democratic Alliance is imploding, leaving the ruling African National Congress secure in power even as the economy stagnates. An all-white candidate pool for one of the DA’s top posts led to the elevation of a divisive former party leader, and has pitted […]

View Share

Today’s Top 8 Business Stories – 21 October

1) Approach of Eskom’s Day of Reckoning Puts Investors on Defensive Investors are prepared for the worst as the day of reckoning looms for Eskom Holdings SOC Ltd., the state- owned power utility seen by Goldman Sachs Group Inc as the biggest threat to the country’s economy. 2) Eskom, Weak Tax to Raise South Africa […]

View Share

Today’s Top 8 Business Stories – 18 October

1) South Africa May Avoid Moody’s Cut With Reforms, Kganyago Says South African government-bond yields could drop and the nation may hang on to its last investment-grade credit rating if policy makers implement the necessary reforms, central bank Governor Lesetja Kganyago said. Moody’s Investors Service is scheduled to deliver its latest assessment of South Africa’s […]

View Share

Today’s Top 8 Business Stories – 17 October

1) Eskom Blackouts Sow Doubts on Rescue Plan, South African Growth South Africa’s cash-strapped state power company imposed a second day of controlled blackouts, jeopardizing a recovery in the continent’s most-industrialized economy as investors await a government plan to restructure the utility. The nation is still struggling from outages in the first quarter that contributed […]

View Share

Today’s Top 8 Business Stories – 16 October

1) Eskom Power Blackout Rekindles Concern Over South Africa Ratings Eskom Holdings SOC Ltd., the state-owned South African utility that provides about 95% of the nation’s electricity, implemented power cuts on Wednesday amid maintenance problems. The rand weakened as investors fretted about the effect on economic growth. Power shortages have been a major constraint on […]

View Share

Today’s Top 8 Business Stories – 11 October

1) Eskom Yield Curve at Steepest on Record Shows Long-Term Concerns Bond investors are losing faith in the long- term prospects of Eskom Holdings SOC Ltd., South Africa’s state- owned electricity company that’s drowning in debt. Yields on dollar securities maturing in 2021 dropped the most in more than two months on Thursday after the […]

View Share

Today’s Top 8 Business Stories – 10 October

1) Eskom’s Risk Premium Eases as Treasury Offers Bailout Conditions Credit default swaps for Eskom Holdings SOC Ltd., South Africa’s state-owned power company, are trading near the cheapest level in almost three years relative to the sovereign risk after the Treasury published proposed conditions for funds to bail out the utility. 2) Boosts for Richemont, […]

View Share

Today’s Top 8 Business Stories – 7 October

  1) Budget Realities Pressure South Africa to Stop Policy Dithering South Africa’s government has spent months mostly talking about how to save the debt-stricken state power utility Eskom Holdings SOC Ltd., spur economic growth and get its shaky finances back on track. Financial realities may force an end to the dithering. 2) South Africa […]

View Share

Today’s Top 8 Business Stories – 2 October

  1) South African Ruling Party Shies Away From Endorsing Asset Sales South Africa’s ruling party approved a range of proposals to revive economic growth, but stopped short of endorsing Finance Minister Tito Mboweni’s controversial plan to sell some state assets. 2) South Africa’s Risk Premium Limits Room for Rate Cuts, SARB Says The South […]

View Share

Today’s Top 8 Business Stories – 30 September

  1) Solving South Africa Energy Crisis May Mean Lower Renewable Cost South Africa is asking independent power producers to lower electricity costs as part of the rescue of Eskom Holdings SOC Ltd., the insolvent state-owned utility. Renewable energy project developers will discuss potential solutions ahead of a follow-up engagement with the government on Friday. […]

View Share

Today’s Top 8 Business Stories – 25 September

  1) South Africa’s Economy Enters 70th Month of Downward Cycle South Africa’s economy remains stuck in its longest downward cycle since 1945, adding to pressure on the government to implement reforms to lift business confidence and boost growth. The economy entered the 70th month of a weakening cycle in September, according to the Reserve […]

View Share

Today’s Top 8 Business Stories – 20 September

  1) South African Central Bank Holds Rate as Fiscal Risks Loom South Africa’s central bank kept its benchmark interest rate unchanged and may only continue its easing when uncertainties about government finances and the nation’s credit ratings have been cleared up. The Monetary Policy Committee voted unanimously to maintain the repurchase rate at 6.5%, […]

View Share

Today’s Top 8 Business Stories – 18 September

  1) Volatility Jump Betrays Rand Traders’ Nerves Before Fed Decision As investors brace for the Federal Reserve’s policy decision later Wednesday, one corner of the foreign- exchange market looks particularly nervous. Overnight volatility for South Africa’s rand rose to as much as 25%, the most since August 2018, before paring the steep climb to […]

View Share

Today’s Top 8 Business Stories – 17 September

  1) South Africa Rate-Cut Hopes Fade as Saudi Oil Attack Adds Risk The assault on Saudi Arabian oil facilities is already taking its toll on South Africa’s rand, and may put paid to any hopes of an interest-rate cut on Thursday. The spike in crude oil prices, together with the rand’s slide since the […]

View Share

Today’s Top 8 Business Stories – 16 September

  1) $11 Billion Green-Energy Initiative Takes Shape in South Africa A plan to establish the world’s largest green-energy financing initiative is being threshed out in South Africa, which needs to reduce its environmental footprint and find innovative ways to fund debt-stricken state power utility Eskom Holdings SOC Ltd. The plan being formulated by Meridian […]

View Share

Today’s Top 8 Business Stories – 13 September

  1) Old Mutual-Moyo Fight Rumbles on as Firm Says It Won’t Back Down Old Mutual Ltd. won’t back down on any litigation against Peter Moyo and maintains that the South African insurer’s second dismissal of the fired chief executive officer remains valid. The insurer’s legal team on Thursday sent a letter to Moyo’s lawyers […]

View Share

Today’s Top 8 Business Stories – 12 September

  1) Steinhoff to Get Record $3.6 Million Fine After Discount Steinhoff International Holdings NV was given a record 53 million rand ($3.6 million) fine by South Africa’s financial regulator for failing to properly disclose accounting problems to shareholders. The Financial Sector Conduct Authority reduced the figure from an initial 1.5 billion rand in light […]

View Share

Today’s Top 8 Business Stories – 10 September

  1) Platinum Giants Seek Mediation After Union Declares Dispute Anglo American Platinum Ltd. and Sibanye Gold Ltd. will seek mediation to break the deadlock in wage negotiations with South Africa’s largest platinum-mining labor union. The producers said they will try to resolve the standoff internally, rather than apply to the nation’s Commission for Conciliation, […]

View Share

Today’s Top 8 Business Stories – 9 September

By Asset Management 1) Old Mutual Again Blocks Its CEO From Getting Back to Work Old Mutual Ltd. directors barred Peter Moyo from resuming his duties as chief executive officer, opening a new round in their bitter feud. The 56-year-old, accompanied by his lawyer, arrived at the company’s headquarters by 8:30 a.m. dressed in a […]

View Share

Today’s Top 8 Business Stories – 6 September

By Asset Management 1) Robert Mugabe, Zimbabwe’s Hero Who Turned Villain, Dies at 95 Robert Mugabe, who ruled Zimbabwe for 37 years and plunged the southern African nation into political and economic chaos as he violently clung to power, has died. He was 95. “It’s with the utmost sadness that I announce the passing” of Mugabe, […]

View Share

Today’s Top 8 Business Stories – 4 September

By Asset Management 1) MTN, Shoprite Bear Brunt of Backlash to South African Xenophobia Mobile-phone giant MTN Group Ltd. and grocer Shoprite Holdings Ltd. are among South African firms facing a backlash to xenophobic violence in their home country. Shoprite stores were attacked in at least one area of Nigeria’s commercial capital, Lagos, according to […]

View Share

Today’s Top 8 Business Stories – 3 September

1) South Africa Dodges Recession as Growth Recovers From Power Cuts South Africa averted a second recession in as many years after economic growth rebounded in the second quarter. The economy grew an annualized 3.1% in the three months through June, compared with a revised 3.1% contraction in the first quarter, Statistics South Africa said […]

View Share

Today’s Top 8 Business Stories – 2 September

By Asset Management 1) ‘Too Big to Fail’ Makes Eskom Debt a Good Bet in Low-Yield World South Africa’s pledge not to let Eskom Holdings SOC Ltd. fail is enticing yield-starved investors to the company’s dollar debt. Bondholders from New York to Seoul say they’re happy to hold onto the power company’s securities — and […]

View Share

Today’s Top 8 Business Stories – 28 August

By Asset Management 1) South Africa Sees Coal-Plant Sales, Visa Reform Boosting GDP South Africa’s National Treasury outlined its vision to bolster economic growth and tackle a 29% unemployment rate, proposing a range of reforms including cutting red tape for businesses and easing visa rules to boost tourism. The reforms could lift the average economic […]

View Share

Today’s Top 8 Business Stories – 23 August

By Asset Management 1) Naspers Says It Has Enough Votes to Proceed With Prosus Listing Naspers Ltd. has received enough votes from shareholders to proceed with a listing of international assets including a stake in China’s Tencent Holdings Ltd. in Amsterdam next month. Africa’s largest company by market value needed support from at least 75% […]

View Share

Today’s Top 8 Business Stories – 22 August

By Asset Management 1) South Africa to Seek Budget Spending Cuts as Debt Climbs South Africa is seeking to cut government budgets as it moves to contain debt after promising billions of rands to rescue its power utility and a weak economy damps tax collection. The National Treasury has asked departments to prepare proposals on […]

View Share

China’s stimulus Explained (2019)

What is the word on China’s stimulus? As mentioned before, from what we’ve seen so far, there have been no real stimulus, except for a slight increase in total social finance early in the year, after last year’s tightening. Initially as China’s economy continues to improve the need for stimulus have fallen away, in fact […]

View Share

Top Overnight Stories You Should Know in South Africa.

View all JSE Listed Shares Prices and Indices  1) Stocks Rally on Fed Signals; Treasury Yields Dip Stocks in Asia rose after Federal Reserve Chairman Jerome Powell signalled an openness to interest-rate cuts, giving a boost to risk appetite that remains fragile amid trade-war tensions. Treasury yields gave back some of Tuesday’s rise. Japan led […]

View Share

SA STOCKS THAT’LL BENEFIT FROM AN ANC VICTORY IN THE UPCOMING POLLS

The Swiss-based global firm UBS AG through its Johannesburg branch, recently listed a basket of 20 stocks that investors should focus on ahead of the 2019 elections on 8 May. Assuming the ruling party achieves a 55-60% win on the day, UBS AG predicts the market will rally in supporting South African assets. Aveshen Pillay, […]

View Share