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18:48 Top 5 on Fin24: Coming soon to your ATM: Commemorative Randelas, how VBS allegedly dealt with ‘R1.5bn fraud’ and SA business remains unreformed

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19:31 Top 5 on Fin24: How SA's broadband speed really stacks up against other countries, ABSA reboots image and SA's saving habits

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  • Low risk of load shedding

    07 August 2018 5:14 PM 27

    Eskom did not have to implemented rotational load shedding on Tuesday and the prognosis remains low for Wednesday morning. This is the same as the risk of load shedding Eskom advised on Monday. "There is a low probability of rotational load shedding tomorrow morning, but the risk increases for the evening peak period from 17:00 to 21:00," Eskom said in a statement

  • Union revises wage demands as Gautrain strike continues

    07 August 2018 3:55 PM 28

    The United National Transport Union (UNTU) on Tuesday revised its wage demand for Gautrain workers, as the strike entered its ninth day. According to the new demand, the union wants a 9% basic salary increase across the board, a housing allowance of R1 400 , a 9% increase to the travel allowance and incentive bonuses of R15 000. The Bombela Operating

  • Suppliers making threats over 'illegal' payment demands

    07 August 2018 1:21 PM 26

    Suppliers are threatening to stall state-contracted projects if their unlawful demands for cash payments are not met, National Treasury has said. Government has a requirement that 30% of public procurement must be subcontracted to certain designated groups, as provided for in the Preferential Procurement Regulations of 2017. Instead, certain suppliers

  • Amcu warns Implats: Gloves will be off should job cut talks fail

    07 August 2018 9:21 AM 39

    The Association of Mineworkers and Construction Union (Amcu) warned on Tuesday that should consultation fail, it would embark on industrial action at Impala Platinum over looming job losses. “We are not going to run to [the] labour court, we don’t have money... we will hit where it matters most...[the] gloves will be off,” Amcu president Joseph Mathunjwa

  • Nedbank sees asset growth expanding more slowly than SA GDP

    07 August 2018 7:22 AM 25

    Nedbank [JSE:NED] forecast that the rate of growth in interest-earning banking assets will be below that of South Africa’s economy in 2018, after earlier predicting it will be in line with the expansion in gross domestic product (GDP). The lender’s credit-loss ratio, which rose 6 basis points to 53 basis points, will also increase slightly above the level

  • Father of the King Reports stepping down after more than two decades in chair

    06 August 2018 12:11 PM 24

    Professor Mervyn King is handing over the role of chairperson of the King Committee, having held the position for more than 20 years. King, a former judge of the Supreme Court of Appeal, is known for his role in setting out the King Reports, guidelines for corporate governance. Compliance with the King Reports on Corporate Governance - known as King I, II, III and IV - is a requirement

  • Group aims to boost skills after buying 51% of Macquarie’s SA unit

    05 August 2018 6:14 AM 23

    A local consortium headed by Mazi Holdings has acquired a majority stake in the local branch of Australian multinational company Macquarie. Macquarie is a financial services company with 14 000 employees in 27 countries. The consortium, consisting of Mazi Holdings, AWCA Investment Holdings and AMB Holdings, as well as some Macquarie senior management

  • Kellogg's case: A victory for workers

    05 August 2018 4:18 AM 24

    Last week’s ruling on labour brokers by the Constitutional Court has already led to a significant victory for workers at breakfast cereal behemoth Kellogg’s. This week Kellogg’s abandoned its attempt to get rid of 120 workers supplied by the largest South African labour broker Adcorp. This followed shortly after the workers started fighting for their

  • Steinhoff moves two key units to UK after board shake-up

    03 August 2018 11:28 AM 30

    Steinhoff Europe and Finance Holdings will both move to the same head office as the retailer’s UK unit, the Stellenbosch, South Africa-based company said in a statement. The supervisory board members for the European division are now Louis du Preez, Richard Heis and Philip Dieperink, while the management board includes Theodore de Klerk and David Frauman

  • BnP Capital boss will hand over documents relating to SAA deal

    03 August 2018 8:33 AM 26

    BnP Capital's Daniel Mahlangu has agreed to hand over documents relating to its deal with SAA, the Organisation Undoing Tax Abuse said on Thursday. In 2016, OUTA began legal action to have former SAA board chairperson Dudu Myeni declared a delinquent director. OUTA suspects she was involved in what it calls "dubious dealings" between SAA and BnP Capital