Companies losing faith in SAA; Inflated Tongaat Hulett profits; Zuma’s date with justice; tweeting for Africa
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In today's business headlines:
Companies are starting to lose faith that South African Airways can and will be saved. Sanlam Travel Insurance Consultants said it would exclude SAA from its insolvency cover and Flight Centre has stopped selling SAA tickets.
An investigation into alleged wrongdoing at Tongaat Hulett found that a group of at least 10 senior executives at the sugar maker used accounting methods that led to profits and certain assets being overstated. Former Chief Executive Officer Peter Staude, who headed the company for 16 years, was among those identified.
Emerging Markets may need more than a surprise recovery in Chinese manufacturing to exorcise the pain of November. Bloomberg reports that there are too many risks for Emerging Markets to get a lift from data out of China.
Former President Jacob Zuma’s long-awaited trial on corruption charges over a $2bn arms deal is set to go ahead in February next year after the Pietermaritzburg High Court dismissed an appeal that sought to prevent his prosecution on corruption charges. Zuma has the option to approach the Supreme Court in his push to dodge trial, but legal experts say his prospects of success are slim and
Twitter Boss Jack Dorsey has announced that he will live in Africa for several months in 2020. Learn more about your ad choices. Visit megaphone.fm/adchoices
Companies are starting to lose faith that South African Airways can and will be saved. Sanlam Travel Insurance Consultants said it would exclude SAA from its insolvency cover and Flight Centre has stopped selling SAA tickets.
An investigation into alleged wrongdoing at Tongaat Hulett found that a group of at least 10 senior executives at the sugar maker used accounting methods that led to profits and certain assets being overstated. Former Chief Executive Officer Peter Staude, who headed the company for 16 years, was among those identified.
Emerging Markets may need more than a surprise recovery in Chinese manufacturing to exorcise the pain of November. Bloomberg reports that there are too many risks for Emerging Markets to get a lift from data out of China.
Former President Jacob Zuma’s long-awaited trial on corruption charges over a $2bn arms deal is set to go ahead in February next year after the Pietermaritzburg High Court dismissed an appeal that sought to prevent his prosecution on corruption charges. Zuma has the option to approach the Supreme Court in his push to dodge trial, but legal experts say his prospects of success are slim and
Twitter Boss Jack Dorsey has announced that he will live in Africa for several months in 2020. Learn more about your ad choices. Visit megaphone.fm/adchoices
