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

Government studying Prasa court judgment

The Transport Department says it’s yet to decide on the court ruling setting aside a decision to dissolve the Prasa board. Spokesman Ishmael Mnisi said the department will determine what their next move will be. “However, it’s content and it’s decision as it stands is welcomed by the department,” said …

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LSE says Deutsche Boerse merger in doubt

The London Stock Exchange on Sunday said it is “highly unlikely” it will be able to meet antitrust conditions set by Brussels for its tie-up with Deutsche Boerse, throwing the merger into doubt. The announcement by LSE, which also operates the Milan stock exchange, is the latest twist in its …

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SAA, Post Office in line for funds

Finance Minister Pravin Gordhan has promised a capital injection to South African Airways (SAA) and the Post Office, but is yet to say how much and where the money will come from. Speaking at a media briefing before delivering his budget speech on Wednesday, Gordhan said SAA had strong prospects …

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Kraft Heinz withdraws bid for Unilever

The US food giant Kraft Heinz has dropped its bid to buy Unilever days after it rejected a $143 billion buyout offer, the companies said on Sunday. Kraft Heinz had signaled on Friday that it would press ahead with its campaign after the British-Dutch consumer products manufacturer said the initial …

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Gordhan takes next step in Gupta saga

The fight continues between the Finance Minister and the Gupta family on Friday. Pravin Gordhan is expected to file his replying affidavit in the North Gauteng High Court. This comes after the Gupta family’s responding affidavit last week to Gordhan’s 2016 application. Last year Gordhan brought an application to court …

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Eskom rolls out power cuts to indebted municipalities

Difficult times lie ahead for 22 defaulting municipalities whose power Eskom has resolved to turn off  during peak hours from Monday. Their lights will be out until payment agreements are reached. Municipalities in the Free State, Northern Cape, Mpumalanga, North West and the Eastern Cape owe Eskom  billions of rands. Power …

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SABC inquiry set to continue

The parliamentary inquiry into the affairs of the embattled South African Broadcasting Corporation (SABC) is to continue on Friday morning with the testimony of two former board chairpersons. Ellen Tshabalala and Ben Ngubane – former board chairpersons that several witnesses had linked to the “meteoric rise” of controversial SABC executive …

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ACSA announces reduction in tariffs

Airports Company South Africa (ACSA) has announced a massive reduction in tariffs. They’re dropping airport charges by more than 35 percent from the beginning of April. The new tariffs will affect landing and parking fees for planes and service charges for passengers. Costs will vary according to the maximum take-off …

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