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Get the latest Business and Financial news in South Africa as it happens.

Eskom’s coal standoff with Glencore unpacked

The standoff between power supplier Eskom and commodity trading and mining group Glencore [JSE:GLN] has long been coming. In 2012, just as the Competition Tribunal was mulling over the merger between Glencore and Xstrata, Eskom entered the fray as a so-called intervening party. Eskom was concerned about the influence the …

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R195m bus depot planned for Durban

The eThekwini Municipality is set to invest R195m in the construction of a new depot in the Bridge City area, north of Durban. The municipality’s head of communication Tozi Mthethwa said on Wednesday the super depot – which is part of the city’s Integrated Rapid Public Transport Network (IRPTN) – …

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CPI increased by 5% in July – Stats SA

July’s annual CPI inflation rate increased by 5%, according to Statistics South Africa (Stats SA) on Wednesday.   The rate was 0.3 of a percentage point higher than the corresponding annual rate of 4.7% in June 2015. On average, prices increased by 1% between June 2015 and July 2015. The …

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Huge inflation gap between rich and poor

Over the last year, the most expensive products have increased by 17%, while the cheapest have decreased by 3%, an analyst says, adding that yearly CPI inflation for July has increased by 5%. The Consumer Price Index (CPI) stood at 116.1 at the end of July, implying year-on-year (y/y) inflation …

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Geoff Cohen steps down as 24.com head

Geoff Cohen, general manager of 24.com, Media24’s digital division, has resigned after eight years in the hot seat. Media24 announced on Friday that Cohen would leave the company at the end of September to pursue his own interests in the digital space. Media24 CEO Esmaré Weideman said Cohen has grown …

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KFC music concept wins top Loeries prize

Innovation and technology helped KFC and Ogilvy & Mather Johannesburg scoop the top prize at Saturday’s Loeries Awards at Durban’s ICC. The brand and agency won the coveted Grand Prix Loeries Award for their SoundBite concept (see video below). This new technological concept allowed KFC customers to listen to music …

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Greece unable to shoulder debt burden – report

It is doubtful whether Greece will under present circumstances ever be able to pay off its gigantic state debt, according to a confidential report which was leaked to the European press. The Greek parliament approved the government’s austerity policy and economic reforms – forced by European institutions – in the …

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Definite shift in advertising industry – Loeries CEO

Companies that are expanding their brands beyond the borders of South Africa and trying to capture a saturated media landscape are craving creativity, said Loeries CEO Andrew Human. Speaking during the Loeries Creative Week in Durban, Human told Fin24 that the biggest shift in the industry was the focus from …

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JT Foxx: Visa rules throttling small business

The new child visa regulations were making it difficult for entrepreneurs to succeed in South Africa, according wealth coach JT Foxx. “Make it difficult for people to travel and they’re just going to go somewhere else,” he told Fin24 in a studio interview. Foxx, who has business interests in 31 …

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DA in bid to stop Western Cape tolling

The DA will approach the Western Cape High Court on Tuesday in a bid to have Sanral’s decision to toll sections of the N1 and N2 set aside. About 180km of highway will be tolled should the Winelands Toll Highway project go ahead. Last month, the SA National Roads Agency …

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