Trump orders US firms out of China after Beijing sets new tariffs

23 August 2019, 8:46 PM
US President Donald Trump on Friday said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs of $75 billion on US goods, throwing a new twist into the bitter trade war between the world’s two largest economies.
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Huawei says US curbs to cut smartphone unit’s revenue by over $10 bln 23 August 2019, 3:44 PM

Chinese technology giant Huawei said on Friday the impact of US trade restrictions on its business will be less than what it initially feared, though the curbs could push its smartphone unit's revenue lower by about $10 billion in 2019.

Asian stocks struggle ahead of Powell’s speech; yuan at fresh 11-1/2 year low 23 August 2019, 6:42 AM

Asian shares struggled to make headway on Friday as uncertainty over how much further the U.S. Federal Reserve would cut interest rates added to investors’ worries over slowing global growth.

President Ramaphosa says government has a plan for economic growth 22 August 2019, 4:06 PM

President Cyril Ramaphosa says his administration has an industrial plan that focuses on generating economic growth in the country.

Jackson Mthembu
Cabinet approves publication of Consumer Housing Protection Bill 22 August 2019, 12:24 PM

Cabinet has approved the publication of the Consumer Housing Protection Bill.

Old Mutual issues Moyo another termination notice 22 August 2019, 12:22 PM

Old Mutual says it has issued another termination of employment notice to its axed CEO, Peter Moyo.

Fed was divided on rate cut, wanted to avoid appearing on path for more cuts 22 August 2019, 6:48 AM

Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts, a message not likely to sit well with US President Donald Trump.

SARS suspends another executive 21 August 2019, 6:45 PM

Yet another South African Revenue Service (SARS) executive has been suspended, bringing to five the number of executives currently on precautionary suspension.

Robert Matsabisa
Creepy crawlies present economic opportunity 21 August 2019, 5:51 PM

Innovative entrepreneur Robert Matsabisa saw a gap in the market by farming cockroaches and worms at Wells Estate in Port Elizabeth in the Eastern Cape.

World Entrepreneurs’ Day 21 August 2019, 3:06 PM

World Entrepreneurs’ Day (WED) is commemorated every year on August 21, the purpose of which is to create awareness for entrepreneurship, innovation and leadership across the globe.

City of Jo’burg holds ceremonies for properties earmarked for redevelopment 21 August 2019, 11:10 AM

The City of Johannesburg will be holding sod-turning ceremonies on Wednesday for the first four of 84 properties earmarked for redevelopment

BHF warns against finger pointing in health sector 21 August 2019, 10:25 AM

The Board of Healthcare Funders of Southern Africa has warned the private health sector against pointing fingers at the public sector as the only one with challenges ahead of the full implementation of the National Health Insurance.

US President Donald Trump answers questions from reporters as he meets with Romania's President Klaus Iohannis in the Oval Office.
Trump looking at possible tax cuts amid economic jitters 21 August 2019, 5:55 AM

Recession fears were stoked last week when bond investors briefly demanded a higher interest rate on 2-year Treasury bonds than for 10-year Treasury bonds, a potential signal of lost faith in near-term economic growth.

Hernan Lacunza
New Argentine treasury minister set to take charge of troubled economy 20 August 2019, 6:40 PM

A new treasury minister, Hernan Lacunza, took charge of Argentina's troubled economy on Tuesday after the local peso took a dive last week following business-friendly President Mauricio Macri's harsh beating in the Aug. 11 primary election.

South African Reserve Bank
SA Reserve Bank business cycle indicator falls by 0.4% 20 August 2019, 12:35 PM

The South African Reserve Bank's composite leading business cycle indicator fell by 0.4% month-on-month in June.

The Mayor of Johannesburg Herman Mashaba
Mashaba, unions sign MoU to avert strikes during labour disputes 19 August 2019, 4:45 PM

The Mayor of Johannesburg Herman Mashaba and municipal unions, SAMWU and IMATU have signed a memorandum of understanding aimed at minimising strikes during labour disputes.

Krish Naidoo
Another former SABC Board member disputes SIU report 19 August 2019, 10:50 AM

Yet another former South African Broadcasting Corporation (SABC) interim board member, Krish Naidoo, has disputed the Special Investigating Unit (SIU) report on the SABC security tender.

Oil prices climb after Saudi oilfield attack, but recession worries drag 19 August 2019, 7:05 AM

Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for any signs that Sino-United States trade tensions could ease. 

Women in construction demand equal opportunities 18 August 2019, 6:41 PM

Women in the construction industry are faced with unfair competition, monopoly and discrimination.

Women in agriculture face challenges 18 August 2019, 5:51 PM

Women are making strides as agricultural producers, but acceptance in this sector remains a major challenge.

SABC Board says it will support the SIU application 18 August 2019, 12:30 PM

The current SABC Board says it will support the application by the Special Investigating Unit to have the contract between the public broadcaster and Mafoko Security Patrols reviewed and set aside.

Former SABC Board members to apply for a review of SIU report 18 August 2019, 10:00 AM

The lawyer representing former SABC Interim Board Members, Tebogo Malatji, says his clients will apply for a review and setting aside of a Special Investigating Unit report on a security tender at the public broadcaster.

Mafoko Security distances itself from SABC tender irregularities 18 August 2019, 8:10 AM

Mafoko Security has distanced itself from any wrongdoing after the Special Investigating Unit(SIU) found evidence of serious irregularities in the SABC's awarding of a tender to the firm two years ago.

SIU finds damning evidence against former SABC Interim Board 18 August 2019, 6:36 AM

An investigation by the Special Investigating Unity (SIU), has found damning evidence against former SABC Interim board members relating to a R185-million security tender at the public broadcaster.

US set to give Huawei another 90 days to buy from American suppliers – sources 17 August 2019, 8:19 PM

The US Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, two sources familiar with the situation said.

Amazon.com defeats IRS appeal in US tax dispute 17 August 2019, 12:20 PM

Amazon.com Inc on Friday defeated an appeal by the US Internal Revenue Service in what the online retailer has called a $1.5-billion dispute over its tax treatment of transactions with a Luxembourg subsidiary.

Credit Bill will restrict banks from lending money to the poor: BASA 17 August 2019, 6:47 AM

The Banking Association of South Africa (BASA) has strongly criticised President Cyril Ramaphosa's signing into law of the National Credit Amendment Act on Friday, saying it will restrict the ability of banks to lend money to poor people.

Prasa destroyed by corruption, maladministration: Kweyama 16 August 2019, 10:08 PM

The Board at the Passenger Rail Agency of South Africa (Prasa) admitted to the rot that is the procurement system at Prasa. 

President Ramaphosa signs debt relief bill 16 August 2019, 8:33 PM

President Cyril Ramaphosa has signed into law the debt relief bill which contains provisions strongly opposed by the banking industry and the Democratic Alliance (DA).

Women urged to take control of their finances 16 August 2019, 7:39 PM

Women are usually financially disadvantaged earning less for the same position as their male counterparts. And only a handful of women occupy senior positions in the workplace.

Deere trims earnings forecast on trade war woes 16 August 2019, 3:01 PM

Deere & Co.'s third-quarter earnings on Friday missed Wall Street estimates, hurt by the US-China trade war that has dented the demand for its farm machines...