Concentration of the coal supply industry into a limited number of large coal mining companies posed some risk to effective competition in the sector, an analyst says.
They prefer to be called business forums, but have reportedly affected virtually every major construction site in KwaZulu-Natal.
The attacks on two Saudi oil facilities halved output in the world’s top crude exporter.
The board chairperson also says he thinks the company is handling the battle with Peter Moyo well.
The minister warns banks not to be pressured by government into giving unsustainable loans, saying this could lead to the banks needing a bailout too.
Many of the workers have been with the company since leaving school and are now facing insurmountable challenges.

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.

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).

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.

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.

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.

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.

Old Mutual to close its two resource sector unit trusts

It will simplify its offering, but not all investors are pleased.

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.

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.

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.

Old Mutual loses bid to stop Peter Moyo returning to work

This marks Moyo’s second court victory against the company, the first finding he was illegally dismissed as CEO.

Mboweni has declared war on black people, says Malema

The EFF leader has called on the left to unite against the finance minister’s calls for privatisation.

Two steps forward, one step backwards for economy

The economy managed to claw back 3.1% of the 3.2% it had lost in the first quarter of this year.

SA dodges recession but debt woes remain

However, this is not enough to stop credit rating downgrades linked to debt issues including bailouts for state power utility Eskom, analysts say.




 

 

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