Decision to close some factories was approved by Competition Commission in 2019: Clover

28 January 2022, 7:10 PM
Clover says the decision to close some of its factories was approved by the Competition Commission in 2019. This was before the merger with Milco, a subsidiary of the Israeli Central Bottling Company, which bought a 60% stake in the company in 2019.
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Heritage land dispute over Amazon’s new Africa HQ goes to court 20 January 2022, 6:33 AM

Groups representing the descendants of South Africa's earliest inhabitants, the Khoi and San, went to court on Wednesday to try to halt construction of Amazon's new 70 000-square metre Africa headquarters on land they regard as sacred.

World Bank chief takes swipe at Microsoft’s $69 bln gaming deal as poor countries struggle 20 January 2022, 1:07 AM

World Bank President David Malpass on Wednesday criticized Microsoft's $69 billion takeover of gaming developer Activision Blizzard as a questionable allocation of capital at a time when poor countries are struggling to restructure debts and fight COVID-19 and poverty.

Stocks slip on inflation concerns as oil prices rise further 20 January 2022, 12:00 AM

Strong US and European corporate results helped stock markets initially rebound on Wednesday, but rising crude prices kept inflation concerns alive and trading choppy even as bond yields eased after having touched fresh multiyear highs.

Experts say mining sector has role in moving SA towards green energy 19 January 2022, 8:09 PM

Experts say to achieve green energy, the mining sector will have to play an important role. This is because the resources needed to produce clean energy will have to be sourced largely through the sector.

Workers in North West tourism sector worried about their jobs after floods 19 January 2022, 4:22 PM

Job security for those employed in the tourism sector along the Vaal River system at Bloemhof in North West has been severely compromised following flooding in the area.

Former Old Mutual CEO Moyo argues there was no conflict of interest in NMT dividend payment matter 19 January 2022, 3:32 PM

Former Old Mutual Chief Executive Officer (CEO) Peter Moyo says there was no conflict of interest on his part with regards to the dividend payment matter which resulted in his axing as CEO.

SA’s CPI comes in higher than the market expected 19 January 2022, 2:33 PM

Statistics South Africa has released the consumer price index (CPI) for December, which rose to 5.9 percent year-on-year, compared with 5.5 percent in November.

UK inflation hits near 30-year high, pressuring BoE and households 19 January 2022, 1:36 PM

Inflation in Britain rose faster than expected to a near 30-year high in December, intensifying a squeeze on living standards and putting pressure on the Bank of England to raise interest rates again.

‘Bain’s withdrawal from BLSA an admission of guilt’ 19 January 2022, 9:23 AM

Political analyst Dr Dale McKinley says that Bain & Company's withdrawal from Business Leadership South Africa (BLSA) is an admission of a degree of guilt.

Yellen says US state, local aid strengthened cities’ COVID responses 19 January 2022, 8:44 AM

The $350 billion in coronavirus relief funds for state and local governments has allowed U.S. cities to respond stronger and more nimbly to an ever changing COVID-19 pandemic, U.S. Treasury Secretary Janet Yellen said on Wednesday.

Old Mutual, Moyo court case continues on Wednesday morning 19 January 2022, 6:28 AM

Former Old Mutual CEO Peter Moyo's case against Old Mutual is expected to continue in a virtual sitting of the High Court in Johannesburg on Wednesday morning.

Millionaires group calls for wealth tax at virtual Davos 19 January 2022, 2:55 AM

A group of more than 100 billionaires and millionaires has issued a plea to political and business leaders convening virtually for the World Economic Forum: make us pay more tax.

Jump in Treasury yields sink equity markets, notably tech 19 January 2022, 12:09 AM

Benchmark US Treasury yields jumped to two-year highs and major equity market indexes fell more than 1% on Tuesday as traders braced for the Federal Reserve to be more aggressive in tightening monetary policy to tackle inflation.

Former Old Mutual CEO says he did not authorise writing off NMT debt 18 January 2022, 9:06 PM

Former Old Mutual Chief Executive Officer Peter Moyo claims he did not know about a letter by NMT Group, a company in which he was a director,  requesting Old Mutual to write off R4.8 million in debt interest payments owed to Old Mutual.  

South Africa’s first Green Ammonia project launched in Eastern Cape 18 January 2022, 5:59 PM

A R75-billion green ammonia export plant has been launched in the Coega Industrial Development Zone in Gqeberha in the Eastern Cape.

Rand slightly weaker as dollar strengthens 18 January 2022, 1:50 PM

The rand is slightly weaker, as the dollar strengthened amid expectations for several US Federal Reserve interest rate hikes this year.

China Merchants Bank-backed SPAC files first application under new Hong Kong rules 18 January 2022, 8:06 AM

A SPAC backed by ChinaMerchants Bank applied to list in Hong Kong late on Monday, the first company to do so since new rules allowing such listings took effect at the start of this year.

Dollar fails to catch a lift from higher yields, Bank of Japan in focus 18 January 2022, 3:55 AM

The yen edged higher ahead of the outcome of a central bank policy meeting on Tuesday, while the dollar seemingly ignored US Treasury yields hitting new near two-year highs on their return from a long weekend break.

Cape Town to reject Eskom’s price increase application 17 January 2022, 6:23 PM

Cape Town Mayor Geordin Hill-Lewis says his city will reject the proposed electricity price increase by power utility Eskom to the National Energy Regulator of South Africa.

R60 million spent on restoration of train stations in Western Cape: Mbalula 17 January 2022, 4:40 PM

Transport Minister Fikile Mbalula says work to restore some train stations in the Western Cape has cost taxpayers about R60 million so far. He visited some of the train stations on the Northern Line to assess the renovations.

MPC expected to increase interest rates: Economists 17 January 2022, 3:33 PM

Economists say the Reserve Bank is likely to increase interest rates during its Monetary Policy Committee meeting next week.

GSK leads FTSE 100 higher after rejecting Unilever offer for consumer arm 17 January 2022, 12:43 PM

Healthcare firm GlaxoSmithKline led London's FTSE 100 higher on Monday after rejecting a 50-billion-pound buyout offer for its consumer arm from Unilever, while energy and mining stocks also provided support.

Sick, incapacity leaves cost South Africa more than R14 billion since March 2020: Dlodlo 17 January 2022, 11:24 AM

Public Service and Administration Minister Ayanda Dlodlo says 881 152 employees have used normal sick leave and incapacity leave since the outbreak of COVID-19 in March 2020.

Vavi welcomes investigation into workers’ allegations against Clover 17 January 2022, 7:11 AM

South African Federation of Trade Unions' (SAFTU) General-Secretary Zwelinzima Vavi says he's relieved that Trade, Industry and Competition Minister Ebrahim Patel have agreed to investigate workers' allegations against diary producer, Clover.

‘Local economy will continue to suffer because of lockdown regulations’ 17 January 2022, 6:44 AM

City of Cape Town Mayoral Committee Member for Economic Opportunities, James Vos says local economy will continue to suffer as long as lockdown regulations including curfew apply.

UK government to cut funding for BBC – Mail on Sunday report 17 January 2022, 4:47 AM

Britain's government will cut the BBC's funding by ordering a two-year freeze on the fee that people pay to watch the broadcaster, the Mail on Sunday reported.

Minister Patel to investigate workers allegations against Clover: Vavi 16 January 2022, 8:06 PM

South African Federation of Trade Unions' Secretary General Zwelinzima Vavi says he's happy that Trade, Industry and Competition Minister Ebrahim Patel has agreed to investigate workers allegations against dairy producer, Clover

Earnings to test growth stocks after rocky start to year 16 January 2022, 5:01 PM

A rough start to 2022 for US tech and growth stocks is raising stakes for upcoming earnings reports, as investors seek reasons to keep faith in the shares while bracing for US interest rate hikes.

NEHAWU in parliament signs wage agreement 16 January 2022, 2:07 PM

The National Education Health and Allied Workers Union (NEHAWU) in Parliament has finally signed a salary wage agreement with Parliament following a long protracted deadlock with the employer. The agreement also extends to the nine Provincial Legislatures.

Apple to require employee proof of COVID-19 booster -The Verge 16 January 2022, 2:41 AM

Apple Inc (AAPL.O) will require retail and corporate employees to provide proof of a COVID-19 booster shot, The Verge reported on Saturday, citing an internal email.