BizNews Radio
Welcome to BizNews Radio where we interview top thought leaders and business people from South Africa and across the globe.
Central banks prepare for 2008-style Covid-19 hit; Eskom punishes manufacturers; PIC Ayo scalp
In today's news headlines: * Global central bankers pledged action aimed at stabilising markets rattled by the outbreak as pressure builds on them to ease monetary policy to safeguard their economies and appear set to move in tandem for the first time since the 2008 financial crisis; * Sentiment in…
Dave Woollam: Tongaat has sold the crown jewels - because it just had to
Shareholder activist Dave Woollam has been keeping us updated on the survival efforts of embattled Tongaat-Hullett, which last week sold its highly profitable Starch division for R5.35bn. Woollam agrees with new CEO Gavin Hudson that the price received was a good one - especially given the stress that everyone knows…
David Shapiro: Many years since we've seen such great value on the JSE
In the latest episode of Rational Radio, SA's favourite market commentator shakes his proverbial head at the excellent value offered by industrial companies listed on the JSE, pointing out some of the obvious bargains. While Shapiro will be doing his homework on exciting new plays like the JSE's first Cannabis…
Wikus Marais: Markets panicking because of how Govts reacting to COVID-19, not because of virus itself
In this segment from the latest episode of Rational Radio, economist Wikus Marais present the most cogent explanation you'll hear of why asset prices are plunging on the Coronavirus. He explains why the mortality rate of under 2% has nothing to do with it - but that the reaction of…
SAs in Wuhan to be flown home; Rand takes bashing; Pam Golding probed; ANC/Cosatu talk job cuts
In today's business headlines: - 151 out of the 201 South Africans living in the Wuhan area of China where the coronavirus first broke out, have indicated that they wished to return home and are going to be repatriated by the Government and will be kept in quarantine for 21…
What does the US food delivery shakeup mean for Naspers?
Naspers, through its global Prosus arm, is a major player in the world of global food delivery. The company has made some sizeable bets on the long-term profitability of global food delivery, joining other venture capitalists pouring cash into the sector. Yet the long-term future of food delivery is anything…
Roger Jardine on whistleblowers, Talking to Strangers and The March of the Folly
When German Chancellor Angela Merkel visited South Africa earlier this month she told students at the University of Pretoria that the youth should stand up against corruption and “name names” and added that they would be surprised how people would come forward and support them. If it wasn’t for the…
What's News: The hidden forces behind stocks' sharp sell off
As coronavirus ripples through markets, the Wall Street Journal's Gunjan Banerji reveals the invisible forces that are exacerbating this week's wild swings. Charlie Turner hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices
Outraged unions fight govt cuts; fresh SAA bail-out; coronavirus leaps outside China; Massmart, Implats
In today's business news headlines: * The credibility of South Africa’s proposals to curb debt and save its sole investment-grade credit rating will be put to the test by powerful labour unions outraged by plans to pare back the wage bill; * Finance Minister Tito Mboweni has told journalists the…
Ticking time bomb: unsecured debt is a major risk - Alec Hogg, Dave Woollam
In an article warning that the United Nations has unsecured lending on its list of concerns, Malcolm Rees points out that there is much as R208bn in outstanding unsecured and short-term credit in South Africa, accounting for 11% of all outstanding credit. "To put that in context, the nominal value…
Mboweni 'kicking the can down the road' in his decision not to raise taxes - Economist Dawie Roodt
Finance Minister Tito Mboweni said in his budget speech that pundits who expected a VAT increase had misread Government’s messages. He said there was little scope to increase taxes without pushing the South African economy deeper into the mire. Economist Dawie Roodt does not agree and told Biznews that Mboweni's…
Collision course with unions; Telkom lay-offs challenged; Tax relief; Money for SAA, Denel; Market cheer
In today's business headlines: - The government has set a collision course with labour unions as it was announced by the National Treasury that pay increases and promotions will be limited, saving R16bn over the next three years; - Unions have challenged Telkom in court on its plans to cut…
FM Tito Mboweni goes after "fabulously rich 'men of the cloth' who don't pay tax"
At a pre-budget speech press briefing, Finance Minister Tito Mboweni said the government could no longer afford to sit back and watch controversial "men of the cloth" flaunt their wealth while they found creative ways of evading tax. He has announced taxes for their sins, which according to Mboweni included…
Finance Minister Tito Mboweni announces some tax cuts
Against the expectation of many analysts, Finance Minister Tito Mboweni did not raise Value Added Tax or increase tax for individuals and instead opted for tax relief in some brackets. He also raised the ceiling for transfer duties on property. Learn more about your ad choices. Visit megaphone.fm/adchoices
Listen: Finance Minister Tito Mboweni's full 2020 Budget speech
Finance Minister Tito Mboweni delivered his budget speech in Parliament this afternoon and seems to be resigned to the fact that South Africa will be downgraded to junk status by ratings agency Moody's. He refrained from any tax and VAT increases and said that persistent electricity problems will hold back…
Hail Mary Budget betting on divine (resources boom) intervention
SA’s colourful finance minister Tito Mboweni cracked his customary jokes in a relaxed Presser ahead of today’s Budget Speech. And he hardly missed a beat during the flurry that followed the live tweeting of his obviously embargoed comments by an SABC staffer (a first for “lock-up” which led to the…
40-50 years of underperformance at Eskom due to problems at Kusile and Medupi – Chris Yelland
Energy expert Ted Blom warned this weekend that loadshedding could haunt South Africa for at least another five years. Blom said he believed it could take Eskom that long to sort out its coal problems and its maintenance backlog. He also mentioned that coal stations in Mpumalanga were operating at…
Eskom pollution battle; Lights on for Tito; O’Sullivan summons Myeni; CT's 'rainless day strategy'; Shoprite
In today's business headlines: - Eskom is battling to keep all units of its biggest operational power plant at Kendal open after being served with a compliance notice by the environment ministry because of its high levels of air pollution; - Eskom has indicated that the lights would be on…
Meet Kirsten Landman: From coma to Dakar - Africa's first woman to cross the finish line
The Dakar rally, originally known as the Paris to Dakar Rally has taken place since 1978 but was moved due to security threats in Mauritania to South America for the past decade. This year, the race known as the toughest endurance rally in the world crossing dunes, camel grass and…
What's News: Coronavirus vaccine sent for human testing as outbreak grows
The first experimental coronavirus vaccine was sent by Moderna Therapeutics for testing by US regulators - Peter Novel has more on the novel technology behind it. Plus, Quentin Webb on continued investor angst over efforts to contain the outbreak. The Wall Street Journal's Kim Gittleson hosts. Learn more about your…