Good morning.
Today we’re covering the planned national shutdown protests on Wednesday, organised by trade unions Cosatu and Saftu, big business is worried about government expenditure on servicing the high costs associated with debt, and consumers are ditching their online shopping carts when they see the price of delivery.
What is Wednesday’s national trade union shutdown all about? – Daily Maverick
Trade union federations Cosatu and Saftu have called on all non-essential workers to strike for the entire day on Wednesday as the unions want government to intervene in the cost of living crisis.
Thousands are expected to join the protests with action planned across almost all of the provinces.
Saftu General Secretary Zwelinzima Vavi stressed in a media briefing on Monday that the call to join was going out to “ordinary workers, professional workers, black and white, middle class”.
Big business sounds the alarm over escalating cost of SA debt – Business Day (for subscribers)
Organised business has warned there will be less money to spend on social programmes and infrastructure spending as the high cost of servicing government debt will add at least R9 billion to government spending this year.
Business Unity South Africa chief executive Cas Coovadia says his organisation is concerned that the country does not borrow more money than it should, especially as it pertains to meeting expenditures that cannot service the cost of that borrowing.
Government is currently under pressure to spend more on areas like public sector wages and failing state-owned enterprises and while tax collection remains ahead of projections for the year, the worry is this may not continue.
South Africans aren’t swallowing high delivery fees anymore, a new report suggests – Business Insider
According to the 2022 South African Digital Consumer Experience Report, based on a survey completed by 2,000 respondents, consumers are either switching to online retailers with cheaper delivery costs or walking away from an online purchase due to high delivery costs.
“A possible cause of this is that with more of us shopping online and doing so more frequently, we have a greater awareness of who does – and doesn’t – offer free or cheap shipping.
Costs are now becoming a key factor in the consideration process,” said the authors.
Some 14% of users are leaving their carts when they get to the checkout stage and see the price of shipping.
Here’s what else we’re reading today:
Asian stock gauge drops amid rise in yields, crude: markets wrap – Daily Maverick
Eskom to launch R8bn renewable energy training centre at Komati Station – EWN
Saudi says OPEC+ can cut output to address oil slump: Report – SABC News
As criminal networks claim tenders, Treasury says BEE procurement rules had unintended consequences – Fin24
Shoprite and Pick n Pay on the verge of court about ‘similar’ food ranges, but won’t talk about it – Business Insider
Big news about Amazon’s South African marketplace – MyBroadband
Zandile Gumede’s R320 million corruption trial to resume on Tuesday – The Citizen
Revlon tells bankruptcy judge its shares may be worthless – Daily Maverick
Sasfin Bank pursuing millions in ‘odious’ but dubious school debts – Daily Maverick
Image Credit: Saftu General Secretary Zwelinzima Vavi stressed, GCIS
