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Speaking at the University of Johannesburg yesterday, Irvin Jim, the union’s general secretary, rejected the findings of research commissioned by the ANC that found that nationalisation was not viable. Releasing discussion documents ahead of the union’s policy conference next month, Jim said nationalisation could be embraced only if there was “political will”.
The Socialist Hollande jetted to Berlin only hours after being sworn in to meet Merkel, a conservative, for the first time, arriving over an hour late after his plane was hit by lightning and he was forced to return briefly to Paris. The meeting was being closely watched for signs the leaders of Europe’s biggest economies will be able to move beyond a war of words over how to resolve the debt crisis that now threatens to tear apart the 13-year-old currency bloc.
The French economy stalled in the first quarter as household consumption flatlined, businesses pared back investment and exports slowed, underlining the challenge facing Socialist President Francois Hollande as he takes office on Tuesday. It may add to his drive to push the euro zone to adopt growth as well as austerity policies.
Sanral lawyer have that they will not appeal against court order halting e-tolling This has emerged from a letter from Sanral’s lawyers, Beeld newspaper reported. Pieter Conradie, lawyer for the Opposition to Urban Tolling Alliance, said on Monday he had thus far not received any notification that requests to lodge an appeal had been handed in.
“Whilst the economy is not treading water, but actually moving ahead, the pace does seem pedestrian,” said Brad Gillis, CEO regulated products at BankservAfrica, in a statement. The average year-on-year increase in the smoothed weighted Beti over the last seven years is 4.3 percent. The current growth rate stands at 3.7 percent, whilst the last five Betis, which are released monthly, came in below the average of 4.3 percent.
Public Protector Thuli Madonsela has decided to conduct a preliminary investigation into complaints of tender irregularities with the Gauteng e-toll system, her office said on Friday.She would investigate allegations of an “improper relationship” between Swedish companies involved in the arms deal and the Austrian company Kapsch TrafficCom, her spokeswoman Kgalalelo Masibi said in a statement.
“In this regard the public protector will be able to determine among others whether no other institution is investigating similar allegations,” she said.
Yahoo Inc’s board convened on Monday afternoon to discuss the mounting upset surrounding Chief Executive Scott Thompson, who has apologized to employees after being accused last week by activist investor Daniel Loeb of padding his resume, a source with knowledge of the matter said.The source, who declined to be identified because of the sensitivity of the issue, said the board meeting was expected to address aspects of an internal review, including which board members would participate.
Thompson issued an apology for the fallout from disclosures about his academic credentials in an emailed memo to Yahoo employees on Monday, a copy of which was seen by Reuters.
The impact of water scarcity on crop farming will soon be one of South Africa’s biggest problems. We may need to look across beyond our borders for a solution.Two decades of high rainfall have masked South Africa’s traditional water scarcity. To solve looming problems the country will have to work with its neighbours to share water and agriculture resources, as well as reallocate its internal resources.
The world's largest online social network has more than 900 million users [Image: EPA/Al Jazeera] Facebook’s IPO, expected in a couple of weeks, would be the biggest ever for an Internet company. Facebook disclosed the price range of $28 to $35 per share in a regulatory filing on Thursday.
In these troubled times, who can you trust with your money? There are a lot of ways to answer that question in terms of investing, but what about when you’re talking about who can just hold it?Bloomberg Markets Magazine just answered that question by releasing their top 20 strongest banks in the world. The ranks are judged on tier 1 capital to risk-weighted assets, non performing assets to total assets, loan-loss reserves to nonperforming assets, deposits to funding, and efficiency (costs to revenue).
The future of South Africa’s ostrich industry hinges on the lifting on a ban on exported meat, with time and money running out for farmers.About 741 farms used to be registered with the SA Ostrich Business Chamber (SAOBC), but this number decreased when the H5N2 bird flu virus broke out in the Klein Karoo, in the Western Cape, last April.
Read more here [via M&G]
Many people know that “mobile money”—financial transactions on mobile phones—has taken off in Africa. How far it has gone, though, still comes as a bit of a shock. Three-quarters of the countries that use mobile money most frequently are in Africa, and mobile banking in some of them has reached extraordinary levels.A new survey of global financial habits by the Gates Foundation, the World Bank and Gallup World Poll found 20 countries in which more than 10% of adults say they used mobile money at some point in 2011. Of those, 15 are African.
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Nando’s has taken up the challenge laid down by Santam after the chicken retailer spoofed one of the insurance giant’s TV adverts.Santam ran a video response earlier this week, challenging the fast food outlet to deliver a long order of Nando’s menu items to the Joburg Children’s Home by 4pm on Thursday.
“We’ve taken up the challenge. We’ve been to the children’s home and are delivering the food today, a day ahead of the deadline,” said Nando’s marketing director Quinton Cronje.
Facebook disclosed on Monday that it has 901 million users, making it likely that it will pass the 1 billion mark well before the end of the year.The company, which dropped the stat in its amended S-1 filing, also notes that its network receives 3.2 billion comments per day and 300 million new photos daily.
The site also claims 125 billion friendships. Of the 901 million figure, 526 million were described as daily active users in March. Some 488 million people also used Facebook mobile products that month, according to the filing.
Read more here [via Mashable]
Brewer SABMiller said on Monday that Alan Clark, currently head of its European business, would become chief operating officer in July, preparing the ground for him to succeed Graham Mackay as CEO.The world’s second-biggest brewer and maker of Miller Lite, Castle and Peroni beers said in a statement that Clark will take over from Mr Mackay (RIGHT) as CE at the company’s annual general meeting in 2013.
The London-based oil company expects under Wednesday’s agreements to pay $7.8bn to resolve economic, property and medical claims by more than 100,000 individuals and businesses.
Achievement in the media industry doesn’t come without a lot of hard work and a huge dollop of talent. This is not an easy business but those who succeed are generally full of passion and chutzpah.So, to have made it before your 40th birthday is no mean feat. Despite nay-saying oldies who have called this feature “ageist”, the industry has shown its approval. The Media Online team has published its list of the 40 most powerful and influential people under the age of 40 in the South African media industry.
Notable mentions include eNews anchor Nikiwe Bikitsha (RIGHT), 5fm DJ Gareth Cliff and Drum editor Makhosazana Zwane-Siguqa.
As the tussle between South Africa’s major banks for new clients and for loyalty-switches by existing customers intensified, ordinary South Africans hoped the ammunition used in the war – the promise, or hints, of lower fees – would mean we, the customers, would be the eventual winners.Although it was publicised as a battle between business giants, most bank customers were interested only in whether it would drive down our notoriously high banking costs.
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A four year investigation by Australia’s Financial Review newspaper found that the company set up a secret unit to crack the codes of its competitors. The pirated cards were then sold on the black market, costing rival broadcasters tens of millions of dollars.
Read more here (via Al Jazeera)
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