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

Ford recall because door could ‘fly open’

Ford Motor Company is recalling almost 400 000 vehicles because of a problem with a door that could unlatch while driving. The company issued a safety recall in North America for approximately 390 000 2012-2014 Ford Fiesta and 2013-2014 Ford Fusion and Lincoln MKZ vehicles due to the door latch …

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Zim a very difficult environment – Old Mutual

Old Mutual Zimbabwe says vacancies at its properties have grown to 19% as the operating environment in the country continues to deteriorate. Speaking on the sidelines of the Old Mutual AGM last week, CEO Jonas Mushosho said the vacancies in the shopping mall business were even higher at 21%. According …

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Will ‘magic’ Molefe spot Eskom’s BEE thieves?

The proponents of Eskom’s black economic empowerment (BEE) procurement policies are among the state-owned power monopoly’s biggest thieves, energy analyst Ted Blom told the Cape Town Press Club on Friday afternoon. He said that one of the biggest beneficiaries of the 51% black ownership requirement – above and beyond the …

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US law aims to hold SA accountable in ‘chicken war’

The US senate finance committee has passed an amendment which aims to hold South Africa accountable within the African Growth and Opportunity Act (Agoa) trade pact as the two countries struggle to reach a settlement on poultry tonnage. In a statement, US senator Johnny Isakson expressed his satisfaction that the …

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Pioneer Foods to buy 50% of Futurelife

Fast-moving consumer goods company Pioneer Food Group [JSE:PFG] announced on Thursday that it has entered into an agreement to acquire a 50% stake in Futurelife Health Products. Futurelife is a scientifically formulated, nutrient-dense food products company. The purchase price of the deal was not disclosed. According to Pioneer Foods – …

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SA companies not pulling out of Africa amid xeno threats

SA mining companies in Zimbabwe and several other Africa operations have not been targeted by the wave of retaliatory action over the recent xenophobic attacks in Durban and Johannesburg. Officials and sources at most mining companies in Zimbabwe and executives from the chamber of mines said as of Monday, no …

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No load shedding, early today

South Africans could soon experience their first-ever stage 4 load shedding, after Eskom confirmed that the stage allocation would be altered.

Businesses can expect no load shedding for the first half of the day, Eskom has announced. In a statement, the power utility said there is enough electricity generating capacity to meet demand. “The power system is stable at present and should there be a need to load shed in the …

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Housewife worth more than R50 000 per month

If one had to pay a South African housewife for all the work she does, it would easily cost R500 000 per year, Netwer24 reported on Sunday. This is based on research done by American Steve Nelms, who calculated what it would cost if he had to pay professional service …

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Tsotsi decision favoured Guptas: report

Zola Tsotsi

Several decisions made by former Eskom board chair Zola Tsotsi bent the rules of the power operator, including influencing a decision to award a contract worth an estimated R400 million-a-year to a coal mine owned by the Gupta family, The Sunday Times reported. According to the report, Tsotsi, who resigned …

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Saturday: Stage 2 loadshedding plunging SA into darkness

Eskom will implement stage 2 load shedding and load curtailment from 08:00 on Saturday morning, and this is likely to continue until 22:00 this evening. South Africans could soon experience their first-ever stage 4 load shedding, after Eskom confirmed that the stage allocation would be altered. The current stages of …

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