Top News
Top 5 News | Electricity tariff hikes, terrible rand performance, JSE listed companies drops, and more…
IMF raises 2023 GDP world growth forecast – even, perplexingly, for South Africa (Daily Maverick) — The International Monetary Fund (IMF) has revised its gross domestic product (GDP) growth expectations for 2023 from 2.7% in its October report to 2.9% while also raising SA’s GDP by 0.1% to 1.2% for the year, which barely seems …
Top 5 News | Ramaphosa’s reshuffle, big tech’s big layoff, power crisis triggers water crisis, and more…
Yes, big tech stopped the headcount (Financial Mail) — As big tech behemoths doubled down on the hiring spree that was only spurred on by Covid-19 they failed to adequately read the market, which has resulted in the mass round of layoffs we see in many of the world’s largest tech companies. READ MORE. ANC …
Top 5 News | Jooste’s dirty tricks, rate hike cycle ending, nearly 3,000 soldiers at Eskom, and more
SA’s upward rates cycle probably nearing its end, say experts (Daily Maverick) — South African economists expect the current rate hiking cycle to come to an end this year after the SA Reserve Bank decided to increase the repo rate by a further 25 basis points at its most recent monetary policy committee meeting. READ …
Top 5 News | CT will provide cash for power, Businesses go bust because of load-shedding, Google sued by US gov, ChatGPT’s value doubles, Germany to send tanks to Ukraine
Cape Town announces cash for power system (MyBroadband) – The city of Cape Town announced it will now pay cash to independent power producers who have excess electricity they would like to sell back to the city. The system will launch to businesses and soon to residents. Cape Town aims to give residents four stages of …
EXPLAINER | How artificial intelligence is forcing us to think about how we best use the technology
Since the launch of ChatGPT last November, the world has been in a flat spin discussing whether artificial technology or AI will unlock a multitude of new possibilities or spell the end for human employees in certain industries. ChatGPT or Chat Generative Pre-trained Transformer was launched as a chatbot by OpenAI and can perform some …
Top 5 News | Lavrov in SA, Yellen to meet Ramaphosa, Microsoft earnings, Finland to join Nato without Sweden, German reluctance to send tanks to Ukraine
‘Simplistic and infantile’ to demand Russia’s withdrawal from Ukraine, says Pandor after meeting Lavrov (Daily Maverick) – During a joint press conference with Russian Foreign Minister Sergey Lavrov, International Relations and Cooperation Minister Naledi Pandor said it would be “simplistic and infantile” for her to call on Russia to withdraw from its armed conflict with Ukraine. …
The Week Ahead | Fuel price hike, interest rate hike, cabinet reshuffle, US GDP data
South African Reserve Bank to meet this week (Business Tech) – The South African Reserve Bank monetary policy committee will meet this week and announce its repo rate decision on Thursday. The MPC is expected to raise the interest rate by either 25 or 50 basis points. READ MORE. Fuel prices (Business Tech) – It’s bad …
The Week Ahead | Fuel price hike, interest rate hike, cabinet reshuffle, US GDP data Read More »
Top 5 News | Spar’s fictitious loans, phantom carbon credits, SA’s wealthy 1%, Xi’s covid concern, Peter Thiel made $1.8 billion before crypto crash
Spar’s fictitious loans were ‘isolated’ and reported to the audit regulator (Business Day) – Retail group Spar said three loans it offered to retailers five years ago were isolated incidents and constituted irregular accounting. Spar said its auditors, PwC, informed them that it believed one of the loans to be a reportable irregularity and required …
Top News | Inflation cools, Chinese tech rally, load-shedding legal action for Ramaphosa, Ratcliffe to buy ManUtd
Inflation cools slightly to 7.2%, but food prices remain red hot (News24) – Consumer price inflation dropped slightly to 7.2% in December from 7.4% in November and 7.6% in October, said Statistics South Africa on Wednesday. A Bloomberg survey of 15 economists had predicted that inflation would print at 7.3% for December. Stats SA said …
