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Economy

Blow for SA’s banks as Moody’s lowers outlook to negative

Picture: REUTERS
10 hour(s) ago

SA’s difficult economic outlook ‘will strain borrowers’ repayment capacity, which will add to increased asset risks, Moody’s says

Economy

R16.2bn allocated by government to incentives to promote manufacturing

Treasury director-general Lungisa Fuzile. Picture: FINANCIAL MAIL
10 hour(s) ago

Treasury director-general Lungisa Fungile says government alive to crisis faced by manufacturing sector and by steel sector specifically

Financial Services

Barclays Africa looks to insurance to support growth

Absa group financial director David Hodnett. Picture: FINANCIAL MAIL
9 hour(s) ago

Barclays Africa Group expanding its insurance business through acquisitions to support growth, says deputy chief executive David Hodnett

National

Benefits for spouses of president to be discussed after Zuma wives row

President Jacob  Zuma  poses for photographs with three of his wives, Sizakele Khumalo (R) Nompumelo Ntuli (L) Thobeka Mabhija (2-L) after the State of The Nation address in Parliament, Cape Town. Picture: ESA ALEXANDER/SUNDAY TIMES
14 hour(s) ago

According to a report says the state has spent about R500,000 on housing minister Des van Rooyen and his family in a boutique hotel, owing to a lack of a suitable residence

National

Van Rooyen’s hotel stay flies in face of Gordhan’s call for cost containment

Desmond van Rooyen. Picture: Picture: BLOOMBERG/WALDO SWIEGERS
18 hour(s) ago

State spent about R500,000 for minister to stay in five-star boutique hotel, news reports show

National

Executors announce who Nelson Mandela left his cash to

A portrait of former president Nelson Mandela painted on a wall in Johannesburg in July 2012. Picture: GALLO IMAGES/THE TIMES
13 hour(s) ago

Executors of estate of late former president Nelson Mandela say none of his assets sold in order to pay bequests and to discharge estate liabilities and costs

Education

Education department vows to take action against ‘jobs for cash’ offenders

AGGRIEVED: Teachers at protest march outside the Union Buildings in Pretoria in April. Picture: PUXLEY MAKGATHO
11 hour(s) ago

Report paints picture of ‘jobs for cash’ being common practice, and implicates largest teacher union Sadtu in holding basic education system hostage

National

Presidency condemns ‘toxic narrative’ that Zuma is at war with Gordhan

ANTAGONISTS: President Jacob Zuma and Finance Minister Pravin Gordhan. Picture: SOWETAN
13 hour(s) ago

Presidency says President Jacob Zuma is not at war with Finance Minister Pravin Gordhan and such suggestions are ‘absurd’

Politics

ANC finalising list of councillor candidates

ANC secretary general Gwede Mantashe adresses the media at the ANC National Executive Committee on March 20, 2016 at the St Georges Hotel in Pretoria. Picture: AFP PHOTO / MUJAHID SAFODIEN
11 hour(s) ago

ANC national list committee begins difficult task of collating candidates for the 278 municipalities in the country, a process expected to take two days

The Reserve Bank in Pretoria. Picture: FINANCIAL MAIL

Bank needs to look at inflation in a new way

Brian Kantor: Monetary policy in SA needs a different narrative, one that will preserve the credibility of the Reserve Bank

Columnists

Anthony Butler promo

Anthony Butler: Due to strong overlap between class and race forged by apartheid, inequality will continue to be in SA for generations to come

Inequality in SA will be colour-coded for some time

Columnists

Reading John Hoskyns’s excoriating letter to Margaret Thatcher, Jonny Steinberg imagines the equivalent letter Jacob Zuma might receive

Mr President, you are cleverest of them
all

Education

Much gratitude expressed for Mandela’s donations to educational institutions

The late Nelson Mandela and his great-grandson Ziyanda Manaway, reading the official children's version of his best-selling autobiography Long Walk to Freedom. Picture: DEBBIE YAZBEK/NELSON MANDELA FOUNDATION
11 hour(s) ago

Late former president Nelson Mandela left R100‚000 bequests to educational institutions for scholarships and bursaries, which were presented on Friday

African News

State oil and gas pipelines sabotaged and blown up in Nigeria

SLIPPERY SLOPE:  An oil worker in Nigeria. The country’s oil production has fallen to less than 1.7-million barrels a day. Picture: BLOOMBERG/GEORGE OSODI
11 hour(s) ago

Oil output in Nigeria has dropped to a 20-year low after repeated attacks by the NDA, a new group demanding more economic and political control of the Niger Delta

Europe

London Mayor Khan starts review of capital’s terror preparedness

Britain's new London Mayor Sadiq Khan. Picture: AFP
11 hour(s) ago

Review will assess the ability of agencies and authorities to cope with ‘multiple simultaneous incidents’ in UK capital

Financial Services

JSE banking index falls after Moody’s changes outlook for banking system

Picture: MICHAEL ETTERSHANK
14 hour(s) ago

Negative outlook reflects its assessment that creditworthiness of SA banks likely to come under pressure in next 12 to 18 months

Politics

NEWS ANALYSIS: NEC meeting is opportunity for ANC to show leadership

President Jacob Zuma. Picture: GCIS
21 hour(s) ago

There’s a high likelihood reports on state capture and the Constitutional Court judgment on Nkandla will be discussed, writes Natasha Marrian

National

Trashback throws cold water on government’s plan to integrate waste pickers

Waste pickers scavenge through rubbish at Roundhill dumpsite in Berlin in the Eastern Cape. Picture: DAILY DISPATCH
11 hour(s) ago

The wastepreneurs travel up to 20km per day with a load of almost 40kg stacked on their trollies, and on a good day can earn up to R200

HOLY SMOKES: Japan Tobacco called the EU court’s ruling on plain-packaging requirements for cigarettes regrettable and inexplicable. As many as 695,000 people a year in the EU die from tobacco-related illnesses. Picture: BLOOMBERG

Who is watching WHO’s watch towers?

The WHO is pulling out all the stops with its monitoring centres to counteract the ‘darkness’ of sin industries, writes Yaël Ossowski

Mining

Bruce Cleaver is named new CEO of De Beers

De Beers CEO Philippe Mellier.  Picture: SIMON DAWSON/BLOOMBERG
18 hour(s) ago

Anglo American says Bruce Cleaver will replace Philippe Mellier, who has been the CEO of its diamond subsidiary for the past five years

Politics

EFF set to take its blitzkrieg to KwaZulu-Natal

A crowd of about 5, 000 people gathered in Emalahleni to listen to EFF leader Julius Malema. Picture: SAM MKOKELI
15 hour(s) ago

EFF leader Julius Malema and his red army will be bombarding KwaZulu-Natal this weekend‚ kicking off the party’s campaign in Ladysmith

Media

EFF‚ COPE condemn SABC’s protest blackout decision

Picture: SOWETAN
12 hour(s) ago

Economic Freedom Fighters and Congress of the People condemn decision by SABC to no longer screen footage of destruction of public property during protests

Labour

Amcu launches indefinite strike at Sibanye’s Kroondal mine

Workers aligned to the Association of Mineworkers and Construction Union march to Wonderkop Stadium to demand rival NUM vacate the office at Lonmin mine in Rustenburg in 2013. Picture: SOWETAN
16 hour(s) ago

Union says workers began an indefinite strike at Kroondal platinum mine to demand transport because they are being attacked after working night shifts

Financial Services

Capitec lodges opposition to reckless-lending charges

Capitec CEO Gerrie Fourie
13 hour(s) ago

Provider of unsecured loans says it is not a payday lender, adds it is confident it can win against Summit Financial Partners, but is worried about reputational damage

African News

France sends underwater probes to EgyptAir search zone

Egyptians light candles during a candlelight vigil for the 66 victims of the EgyptAir MS804 flight that crashed in the Mediterranean Sea, at the Cairo Opera House in the Egyptian capital on May 26, 2016.
Picture: AFP/KHALED DESOUKI
17 hour(s) ago

Search teams are working against the clock to recover the two black box recorders, as signals that help locate them in deep water cease transmitting after about 30 days

Asia-Pacific

China’s central bank condemns foreign media reports on yuan

People walk past the headquarters of the People's Bank of China (PBOC), the central bank, as two paramilitary police officials patrol around it in Beijing. Picture: REUTERS
13 hour(s) ago

People’s Bank of China says on its official Weibo account the reports ‘fabricated facts, misled readers, misled markets’, and it reserves right to take legal action

Property

Texton buys two property portfolios from Blend worth more than R860m

Flats on the bank of the River Thames on Wapping High Street in London. Picture: BLOOMBERG
15 hour(s) ago

The deal allows Texton to improve the overall quality of its portfolio while diversifying beyond SA into the UK, Texton says

Europe

State to assess if Sharia courts in UK are biased against women

Members of the Belgian branch of Germany’s anti-Islam group Patriotic Europeans Against the Islamisation of the West, known as PEGIDA, take part in a demonstration in Antwerp this week.  Picture: REUTERS
16 hour(s) ago

There are an estimated 30 Sharia councils in the UK, giving Islamic divorce certificates and advice on other aspects of religious law, British media reported

Americas

Google claims a victory in copyright battle with Oracle over Java software

IN THE SPOTLIGHT: Google executive chairman Eric Schmidt speaks at the Google Big Tent event in London on Wednesday. Picture: REUTERS
15 hour(s) ago

A jury upheld claims by Google that its use of Oracle’s Java development platform to create Android was protected under the fair-use provision of copyright law

Europe

Hollande defiant in face of French industrial unrest

Francois Hollande. Picture: REUTERS
16 hour(s) ago

President François Hollande vows to ‘stand firm’ over a controversial labour law, hitting back at unions that urged workers to step up a wave of industrial action

African Business

NEWS ANALYSIS: Inga 3 funding prospects in disarray

Inga Dam.
21 hour(s) ago

Brittle relationship between the DRC government and World Bank on funding for the Inga 3 hydro-electric scheme seems to have snapped, writes Tom Nevin

Energy

Fuel fund defends selling of reserves

A worker at state-owned Pertamina, the country's main retailer of subsidised fuel, fills a vehicle at a petrol station in Jakarta. Picture: REUTERS
22 hour(s) ago

But it does not admit buyback will be at a much higher price — the Strategic Fuel Fund faces a loss of $220m at current oil prices

Labour

Treasury under fire from Cosatu for ‘pacifying’ foreigners

Cosatu president Sdumo Dlamini  Picture: THE SOWETAN
22 hour(s) ago

The latest grievances from the federation centres on the lack of progress on a national minimum wage

View more

Cartoons

Picture: REUTERS

Tencent surges to record on speculation of Shenzhen stock link

Chinese gaming and messaging giant Tencent soars to record in Hong Kong as investors speculate potential link with Shenzhen exchange will spur it higher

Opinion

LIQUID INVESTMENTS: Number of well-maturing Cape reds have made consumers blasé

Expectations play a role in wine appreciation, but what if you don’t know what to expect?

Travel & Food

Award yourself wilderness splendour

Bushmans Kloof Wilderness Reserve is situated at the foot of the Cederberg mountains in the Western Cape. Picture: SUPPLIED
23 hour(s) ago

The award-winning Bushmans Kloof resort is renown for its conservation efforts and offers the perfect escape in a calming and spiritual place, writes Eugene Yiga

Gadgets & Gear

Snapchat valuation nears $18bn

Snapchat logo. Picture: SNAPCHAT
15 hour(s) ago

Start-up featuring disappearing messages raises more than $1.8bn in investment round that stretched over more than a year, funding valued it at close to $18bn

Opinion

HALF ART: Tread carefully along the road of good intentions

Nudist photograher Spencer Tunick brings a knife to a gunfight trying to show up Donald Trump

Jose Mourinho. Picture: REUTERS

Manchester United sign three-year contract with Mourinho

Jose Mourinho replaces Louis van Gaal whose two-year reign at Old Trafford ended on Monday when he was sacked two days after United won the FA Cup

Rugby

Coetzee’s chance to buck the trend

Allister Coetzee. Picture: GALLO IMAGES
23 hour(s) ago

Springbok coach Allister Coetzee will need to be bold, even brave, in his first squad to face Ireland

Other Sport

Ferrari not feeling pressure, says Vettel

Ferrari's German driver Sebastian Vettel drives during the a practice session at the Monaco street circuit, in Monaco on Thursday. Picture: AFP PHOTO/ANDREJ ISAKOVIC
23 hour(s) ago

Bold words from four-time world champion Sebastian Vettel after rolling in ninth at Monaco street circuit practice session

Rugby

John Smit says goodbye to Sharks

John Smit.  Picture: GALLO IMAGES/STEVE HAAG
16 hour(s) ago

Smit, who captained SA to Rugby World Cup triumph in 2007, says he is resigning to spend more time with his family

Soccer

Ibrahamovic praises Mourinho and says he made his choice

Zlatan Ibrahimovic. Picture: EPA/MARCUS ERICSSON
23 hour(s) ago

Coy about his next club Swedish striker Zlatan Ibrahimovic has been linked to a move to the English Premier League.

Rugby

Bulls and Lions players seek Bok nod

SQUAD HOPES:  Bongi Mbonambi’s fine form for the Stormers could see him called up for Springbok duty. Picture: GALLO IMAGES/ASHLEY VLOTMAN
23 hour(s) ago

Huge match-ups will double as a last-minute trial to impress Bok coach Allister Coetzee before he announces the Test squad against Ireland

Soccer

Tinkler banking on Cup win to keep job

RIVALS: Kaitano Tembo, left, and Eric Tinkler shake on it ahead of the Cup final. Picture: LEFTY SHIVAMBU/GALLO IMAGES
23 hour(s) ago

Coach Eric Tinkler will draw on valuable lessons from his past in knockout competitions as he goes into the Nedbank Cup final

Markets

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The Third Umpire

Whether the “rotation” of SA’s oil stocks is legitimate or an enrichment scam, Energy Minister Tina Joemat-Pettersson must know she needs the finance minister’s permission to dispose of significant state assets

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Archbishop Emeritus Desmond Tutu’s daughter, Rev Canon Mpho Tutu-Van Furth, has chosen to return her licence to the Anglican Church rather than have it revoked for entering into a same-sex marriage. Sad, but dignified.

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Zimbabwe Finance Minister Patrick Chinamasa. Without the reserves to back them, the “bond notes” he plans to print to supplement scarce dollar supplies will result in runaway inflation. Has his government learnt nothing?

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