Business confidence in the 80s; WB, Nedbank cut SA growth forecasts; Gold, Aveng

Loading player...
In today’s business headlines:
• South African business confidence has slumped to its lowest level since 1985 as the country faces power cuts, delays in policy implementation, deteriorating public finances and the risk of losing its only remaining investment-grade credit rating.
• The World Bank is the first key institution to cut its economic growth forecast for South Africa in 2020 due to Eskom fears
• Nedbank has cut is economic growth forecast for South Africa to 0.7% down from its previous estimate of 0.9%, with Nedbank Chief Economist predicting to Business Day that this growth forecast could “prove to be optimistic” if Eskom problems deteriorates further increasing the possibility of a full blown recession
• News from the markets is that the gold rally has fizzled after it hit the key $1600 per ounce due to the de-escalation of the tension between the US and Iran and
•Construction company Aveng has announced that it would not take the decision from Seventy Five On Maude to terminate the contract for the construction of the Leonardo in Sandton lying down Learn more about your ad choices. Visit megaphone.fm/adchoices
9 Jan 2020 12PM English South Africa Investing · Business News

Other recent episodes

Dr Lennit Max: Non-racial, merit-based appointments of four new police commissioners

In his latest interview with Chris Steyn, former Western Cape Provincial Police Commissioner, Dr. Lennit Max hails the appointments of four new provincial commissioners. “This time around I am very pleased that the Acting National Commissioner in her wisdom decided that there's merit among people of colour.” He points out…
3 Aug 8AM 33 min

BN Daybreak: SA corruption probes; Trump’s Iran pause; SpaceX upcoming earnings, FIFA backlash

Today's BizNews Daybreak examines Japan’s US-coordinated currency intervention, OPEC+ production increases, and energy lobby opposition to US biofuels legislation. South Africa’s corruption commission delivers unprecedented accountability, while Donald Trump pauses planned Iran strikes pending rapid talks. Meanwhile, the S&P 500 opens at 7,489 and SpaceX prepares for a high-stakes earnings…
2 Aug 11PM 13 min

BN Daybreak: Apple earnings; Amazon AWS; RMB housing; Anglo’s SA exit; Tesla China sale

Today's BizNews Daybreak covers Apple's quarterly results, Rivian's SUV success, and Anthropic's AI breach, alongside a semiconductor rally driven by Microsoft and Oracle. Football federations oppose FIFA selling World Cup stakes, while Donald Trump claims a Gaza disarmament agreement. Meanwhile, Alec Hogg discusses Anglo American’s South Africa exit, RMB launches…
30 Jul 11PM 14 min