Looking at the financials, Eskom is in serious trouble. It is in a death spiral with rising tariffs, leading to further drops in demand precipitating further tariff hikes. The end result will be the collapse of the entity with banks and financial institutions calling on the state guarantee, putting our sovereign rating in severe jeopardy.
Rolls-Royce is expected to cut thousands of jobs this week as chief executive Warren East details how the engineering giant’s latest restructuring will work.
Retail revenue worth millions of rands is lost at the Cape Town International Airport because of slow processing.
Bitcoin tumbled below $8 500 (about R102 000) as a miserable 2018 continued for cryptocurrencies, with investors confronting a mounting list of concerns about the future of the industry.
Western Cape farmers have recorded R14bn in losses so far, as a result of the crippling drought in the province, according to Agri Western Cape CEO Carl Opperman.
Power utility giant, Eskom’s proposed 19.9% electricity hike will severely cut jobs in the steel and engineering sector, says an economist for the Steel and Engineering Industries Federation of Southern Africa (Seifsa).
Platinum miner Lonmin plans to cut over 1,000 jobs before Christmas, South Africa’s Solidarity union said on Monday, due to persistently low commodity prices and rising costs.
A South African broker and an energy investment firm fired KPMG on Tuesday, two of a host of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma.