Business News 17.9.2019 07:49 am
How the construction ‘mafia’ business model jumped to other sectors
They prefer to be called business forums, but have reportedly affected virtually every major construction site in KwaZulu-Natal.
They started off invading construction sites in KwaZulu-Natal (KZN), demanding 30% of the contract work. Then it spread to Gauteng, and has now gone countrywide.
Business News Thousands of Tongaat Hulett employees will be jobless by month-end
Many of the workers have been with the company since leaving school and are now facing insurmountable challenges.
Business News Group Five business rescue plans overwhelmingly approved by shareholders
100% of shareholders voted in favour of Group Five Limited’s plan and 96.1% in favour of the Group Five Construction plan, with both plans now adopted and binding.
Employers play it safe with jobs in tough times – survey
Employers had soft hiring intentions for the last quarter of the year while 10% anticipate an increase in payrolls, 6% expect a decrease and 82% forecast no change.
Business News Naspers creates Europe’s largest tech company
The SA media titan’s new company Prosus’ value instantly soared to around 123 billion euros (almost two trillion rand).
Business News No downgrade, but outlook for SA economy slashed by Moody’s again
Moody’s is worried that government’s ongoing support of SOEs might increase the rating agency’s projections for South Africa’s debt-to-GDP ratio.
Business News Younger population counts in Africa’s favour – Moody’s
Moody’s also pointed to a growing gulf in income inequality in the country – a concern that could pose social volatility, compared to other emerging markets.
Business News SA not alone in capital flight, all emerging markets suffer
‘The real yields on South African bonds are still attractive, given the risks, particularly when compared to other asset classes,’ Momentum Investment’s Ian Scott said.
Business News Old Mutual once again bars Moyo from accessing his office
This is the second time the company has prevented its CEO from performing his duties on his return.
Personal Finance House buyers are staying twice as long in their homes
Trends indicate that the economy and house prices are flatlining, and are likely to stay that way for the remainder of this year.
Business News Old Mutual to close its two resource sector unit trusts
It will simplify its offering, but not all investors are pleased.
Business News Africa’s richest square mile is about to get richer
Property group Growthpoint have released plans detailing an ambitious multi-billion-rand development for the Sandton Summit precinct.
Business News Peter Moyo arrives at Old Mutual to work, but will they let him?
The embattled CEO has returned despite the company’s statement on Friday saying he would not be doing so.
The tax revolt is well under way, with expats already cutting their Sars ties
According to a tax expert, this is ‘giving Sars heart palpitations’ as it tries to make up billions of rands in revenue collection.
Business News FirstRand keeps its head above water
Increased provisions for bad debt, higher operating expenses and a huge tax bill have limited the bank’s earnings growth.
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