Cosatu expects a plan that it’s proposing to save Eskom from its debt burden to be ready within weeks, said the labour federation’s parliamentary coordinator.
Author: Agency Staff
South Africa’s economy slumped into its second recession in consecutive years as power cuts weighed on output and business confidence dropped, adding to pressure on the central bank to cut interest rates.
South African companies have announced plans to cut more than 10 000 jobs less than three months into 2020 with electronics company Ellies the latest to start the process of reducing its headcount
BMW is facing pressure from Tesla and its Model 3. The German brand’s answer to the electric threat is a sleek battery-powered car called the i4.
Elon Musk gave a public sign of support for Twitter co-founder and CEO Jack Dorsey after an activist investor called for changes at the company including possibly replacing its leader.
Huawei Technologies, the Chinese technology giant barred from doing business with US suppliers, is finding a way around the strict limits imposed by the Trump administration.
Missteps helped drive shares of Nokia in its current form close to their all-time lows as a multiple of expected earnings. Its new CEO, Pekka Lundmark, is tasked with the difficult job of returning it to prosperity.
Sentiment in South Africa’s manufacturing industry fell to the lowest level in more than a decade in February as the prospect of continued power cuts weighed on confidence.
Fuel prices will come down by between 19c and 54c/l this week. The department of mineral resources & energy has announced a 19c decrease in the price of 93 (ULP and LRP) and 95 (ULP and LRP) as of Wednesday.
Eskom is making preparations for a 3GW gas-fired plant, but the debt-stricken utility is still awaiting formal guidelines from the government before it can proceed with the project.