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BusinessLIVE - For Your Ear

Listen to the latest BusinessLIVE articles from the news desk of Business Day, Financial Mail and the Business Times.

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Daily English South Africa Business News · News
12,931 Episodes
268 – 288

Eskom suspends ‘apathetic’ managers of power stations over load-shedding

Eskom has suspended the managers of the Tutuka and Kendal power stations, saying the country’s load-shedding crisis was being “exacerbated by serious issues of apathetic behaviour” by some top staff. SA was set to endure yet another day of rolling blackouts with stage 3 load-shedding scheduled from 8am until 10pm…
4 Sep 2020 5AM 2 min

World shares edge down ahead of US jobs data as tech tumbles

London/Singapore — World shares edged lower on Friday, and were on course for their worst week in more than two months, though gains in safer assets, such as bonds and the dollar, were muted as investors awaited US jobs data to see if it triggers a bigger sell-off. The pan-European…
4 Sep 2020 5AM 4 min

Oil set for biggest weekly loss since June

London — Oil held at about $44 a barrel on Friday and was heading for its biggest weekly decline since June, as weak demand figures added to concerns of a slow recovery from the Covid-19 pandemic. A US government report showed domestic petrol demand fell in the latest week. Middle…
4 Sep 2020 5AM 1 min

Environmental campaigners accuse ECB of contributing to ‘climate chaos’

London — The European Central Bank’s (ECB’s) emergency stimulus programme is endangering the region’s climate-change objectives by “feeding a natural gas frenzy,” according to environmental campaigners. The central bank is buying bonds from fossil-fuel project developers including Royal Dutch Shell, Total and Engie, Paris-based Reclaim Finance said in a statement…
4 Sep 2020 5AM 3 min

Village sheds light on India’s surging Covid-19 caseload

Rajewadi/Guwahati — The quaint, sugar cane-growing village of Rajewadi in India’s west did not have a single confirmed coronavirus case until mid-August. Now one in four people there is positive for the virus, with police blaming a local religious event for the spread. Such spurts in cases in small towns…
4 Sep 2020 4AM 4 min

Gold takes heart as equities lose ground

Bengaluru — Gold prices rose on Friday, as US treasury yields fell and a pullback in global equities bolstered demand for the safe-haven metal ahead of the US non-farm payrolls report. Spot gold was up 0.3% at $1,935.84/oz by 3.04am GMT, after falling to a near one-week low on Thursday…
4 Sep 2020 2AM 2 min

Asian shares dip after Wall Street sell-off

Singapore — Asia’s stock markets had their worst session in two weeks on Friday after a tech-led plunge on Wall Street, though gains in safer assets such as bonds and dollars were muted as investors awaited US job data to see if it triggers a bigger sell-off. MSCI’s broadest index…
4 Sep 2020 1AM 3 min

Oil falls on poor demand and large supplies at refiners

Singapore — Oil futures slipped 1% on Friday, with prices on both sides of the Atlantic heading for their biggest weekly drops since June, as lacklustre demand and ample fuel supplies offset support from a weaker dollar. Brent crude fell 44c to $43.63 a barrel by 3.25am GMT, while US…
4 Sep 2020 1AM 1 min

JSE faces sharp losses as other markets fall on Friday

The JSE faces much weaker Asian markets on Friday morning, amid a sharp sell-off on US markets overnight, particularly for tech stocks. The sell-off was overdue, and what was interesting to note it did not fully extend to other asset classes, such as dollars and gold, said Oanda senior market…
4 Sep 2020 1AM 1 min

Tech stocks tumble as Wall Street heads for worst day since June

Bengaluru — Wall Street's main indices tumbled on Thursday, heading for their worst day since June as investors dumped high-flying technology-focused stocks, while economic data highlighted concerns about a long and difficult recovery. Shares of Facebook, Apple, Amazon, Microsoft and Google-parent Alphabet sank between 4.9% and 7%. The five stocks,…
3 Sep 2020 3PM 3 min

Joe Biden meets Jacob Blake’s family ahead of Kenosha tour

Milwaukee — Joe Biden and his wife Jill met on Thursday with the family of a black man shot by police in Kenosha, Wisconsin aiming to test the strength of his message to unite the country as president. Four members of Jacob Blake’s family and two members of the family’s…
3 Sep 2020 3PM 3 min

Zimbabwean opposition activist Job Sikhala denied bail

Harare — While his fellow activists were released on bail on Wednesday, the Harare magistrate’s court on Thursday denied bail to Movement for Democratic Change (MDC) deputy chair Job Sikhala saying he is a flight risk. Sikhala was one of the antigovernment critics arrested in a brutal crackdown on dissent…
3 Sep 2020 2PM 1 min

Eurozone recovery from record downturn falters as economies diverge

London — The eurozone's recovery from its deepest economic downturn on record faltered in August, surveys showed on Thursday, with some countries in the bloc suffering more than others from restrictions imposed to limit the spread of the coronavirus. Overall growth in the dominant service industry — which has been…
3 Sep 2020 2PM 3 min

EDITORIAL: Leaving renewable energy in the dark will stunt growth

As Eskom hit stage four load-shedding again this week, the prospects for economic recovery dimmed along with the lights. With a 7% contraction in GDP forecast for 2020 it is estimated that due to the economic damage caused by the Covid-19 lockdown, it will take SA five years to recover…
3 Sep 2020 2PM 3 min

Power cuts will soon be a thing of the past, says David Mabuza

Deputy president David Mabuza says SA’s crippling power crisis will soon be resolved as Eskom’s new power plants come online and other sources of energy, including gas and renewables, become established. This is despite statements by Eskom executives recently that the load-shedding currently affecting the country due to depleted generating…
3 Sep 2020 1PM 2 min

Nomvula Mokonyane says she got a R3m Aston Martin through a ‘family friend’

How former environmental affairs minister Nomvula Mokonyane acquired a luxury Aston Martin vehicle came up again at the state capture hearings on Thursday with the evidence leader wanting to know where she got the money to buy it. The vehicle became the subject of an investigation after testimony in July…
3 Sep 2020 1PM 3 min

US suspends aid to Ethiopia over dam dispute

Washington — The US has decided to cut $100m in aid to Ethiopia amid a dispute with Egypt and Sudan over a dam Ethiopia is building on the Blue Nile, a congressional source told Reuters on Wednesday. Ethiopia, Sudan and Egypt have been locked in a bitter dispute over the…
3 Sep 2020 1PM 2 min
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