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  • White monopoly capital according to Johann Rupert

    06 December 2018 5:44 PM 176

    Johann Rupert, South Africa's second-richest man with a $6.3bn fortune, dismissed the idea of "white monopoly capital" in a now-notorious interview with Johannesburg-based radio station PowerFM, arguing that state-owned companies such as Eskom were the true monopolies. The 68-year-old chairman of the maker of Cartier watches has sparked widespread debate

  • Land Bank boss Tshokolo Nchocho to head up IDC

    06 December 2018 11:18 AM 88

    The appointment of Land Bank boss Tshokolo Nchocho as the next CEO of the Industrial Development Corporation has been approved by Cabinet. This after current IDC head Geoffrey Qhena announced his upcoming retirement in late August after 13 years at the helm. Nchocho is expected to take up the post in early 2019, after Qhena steps down in late December

  • Ramaphosa to announce effective date for minimum wage in Kliptown in nod to Freedom Charter

    06 December 2018 10:30 AM 76

    President Cyril Ramaphosa will on Friday afternoon announce the date that the new national minimum wage will be effective from at a ceremony in Kliptown, Soweto. Ramaphosa signed the National Minimum Wage Bill, which is R20 an hour, and three related bills into law in late November. The event will be attended by representatives of business, organised

  • WATCH: Huawei CFO arrested in Canada

    06 December 2018 6:21 AM 99

    Beijing - Chinese telecoms giant Huawei said on Thursday it was unaware of any wrongdoing by its chief financial officer, who was arrested in Canada and faces extradition to the United States. Canada's justice ministry said Meng Wanzhou, the daughter of company founder Ren Zhengfei, was arrested in the western city of Vancouver on December 1. The ministry

  • Eskom is said to propose moving debt to state, cutting jobs

    05 December 2018 12:35 PM 88

    The company’s executives outlined the proposal to move the debt onto the government’s balance sheet to bond investors in London this week, according to Sanchay Singla, a money manager at Legal & General who attended a meeting with them. The executives said they hadn’t formally raised the issue with Finance Minister Tito Mboweni or the National Treasury

  • Court turns down Moyane's bid to have Trengove recused

    04 December 2018 11:18 AM 86

    Former SARS boss Tom Moyane has failed in his bid to have Wim Trengove, SC recused from representing Judge Robert Nugent in a case where Moyane is challenging the powers of the inquiry that led to his dismissal. Nugent, who is heading the Commission of Inquiry into SARS, is one of the eight respondents in the matter being heard in the North Gauteng High Court

  • SA out of recession with 2.2% GDP growth

    04 December 2018 9:30 AM 102

    The SA economy has officially exited the recession after reporting 2.2% GDP growth for the third quarter of the year, Stats SA announced on Tuesday morning at a briefing in Pretoria. SA slipped into a technical recession during the first half of the year following two consecutive quarters of negative growth, denting initial positive market sentiment

  • Vodacom shuts stores allegedly trashed by EFF supporters

    03 December 2018 1:24 PM 98

    Vodacom is keeping some of its South African franchise stores shut after members of opposition party Economic Freedom Fighters allegedly vandalised outlets in protest of an image of their leaders at an event hosted by the wireless carrier. In one incident, at Vodacom's Mall of Africa franchise store in Johannesburg, women were assaulted and goods stolen

  • NUM's Gauteng regional chair stabbed at mass meeting

    03 December 2018 12:12 PM 70

    The National Union of Mineworkers (NUM) has confirmed that its regional chairperson in Gauteng, Ndlela Radebe, was stabbed at a mass meeting in Randfontein, west of Johannesburg on Monday. He was addressing NUM members at Gold Fields who apparently want to return to work when the incident occurred. Radebe was injured as a result. He is in a stable condition

  • DA wants Gordhan to consider bill to end Eskom's monopoly

    02 December 2018 2:01 PM 79

    The Democratic Alliance (DA) will write to Public Enterprise Minister Pravin Gordhan to consider the party's proposed bill that seeks to end Eskom's monopoly in the electricity space. This is according to a statement issued by DA MP Natasha Mazzone on Sunday, the party wants to meet with the minister to discuss the country's electricity crisis. In October