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Most Read Today

Big Four told to ring fence auditing in Britain by June 2024

06/07 PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality.  Full story

UBI crosses swords again with Intesa on value of takeover bid

17h24 UBI Banca on Tuesday fired back at rival Intesa Sanpaolo in an escalating war of words over a takeover offer from Italy's second largest bank, reiterating that the bid does not adequately reward its shareholders.  Full story

Africa's top publisher to close S.African publications, cut jobs

14h05 South African media and e-commerce group Naspers plans to lay off more than 500 employees and close a number of newspapers and magazines, including leading weekly tabloid the Sunday Sun, its print division Media24 said on Tuesday.  Full story

Most Read This Week

Big Four told to ring fence auditing in Britain by June 2024

06/07 PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality.  Full story

 

SA Business

South Africa faces battle to rein in spending - Fitch

16h54 South Africa's plans to rein in government spending will be hard to implement due to low economic growth, ratings agency Fitch said on Tuesday, adding the country had a poor track. . .  Full story

S.Africa consumer confidence crashes to 35-year low in second quarter - survey

11h23 South Africa's consumer confidence plunged to a 35-year low in the second quarter, moving deeper into the negative territory as the COVID-19 pandemic hammered the economy, a survey showed on Tuesday.. . .  Full story

South Africa's Massmart says 1,800 Game jobs at risk

11h21 South Africa retailer Massmart Holdings Ltd has started talks with unions to cut up to 1,800 jobs at the company's struggling Game stores as constrained spending and the new coronavirus weigh. . .  Full story
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SA Company

Tongaat Hulett Says It Remains Of View That MAC Has Not Occurred On Sale Of Starch Business

06/07 Tongaat Hulett Ltd:. . .  Full story

African Markets - Factors to watch on July 6

06/07 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - EVENTS: * Seychelles to. . .  Full story

South Africa's unemployment rate hit record high before virus

23/06 South Africa's unemployment rate hit a record high in the first quarter of this year as key sectors including agriculture shed jobs, data showed on Tuesday, highlighting weakness in the economy even before it was. . .  Full story
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Live News Wire

Televangelists, Dallas megachurch that hosted Pence approved for millions in pandemic aid

17h50 A Dallas megachurch whose pastor has been a vocal supporter of President Donald Trump was approved for a forgivable loan worth $2 million to $5 million, according to long-awaited government data released on Monday.  Full story

Forex firm Travelex says debt holders to take control of company

17h49 Travelex said on Tuesday its debt holders will take control of the company and inject 84 million pounds ($105.60 million) of fresh liquidity as part of a debt restructuring to help the currency service provider ride out the coronavirus crisis.  Full story

Japan's AGC weighs options after Italy puts conditions on Molmed deal

17h47 Italy said it would use its right to intervene to protect strategic assets on the planned acquisition of biotechnology group Molmed by AGC , leaving the Japanese buyer to review whether to go ahead with its offer.  Full story
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Europe

Italian yields hover at 3-month lows as traders eye talks in Brussels

17h41 Italian 10-year government bond yields clung to recent three-month lows on Tuesday as traders awaited signs of progress from talks this week in Brussels on a European recovery fund.. . .  Full story

Spain to lease public land royalty-free for social housing building

17h39 Spain will lease public land to private companies and waive royalty fees on the condition of a commitment to build and manage social housing during the lease, Transport Minister Jose Luis Abalos said on. . .  Full story

Wirecard administrator sees strong interest from potential buyers

17h35 Wirecard's administrator said on Tuesday that more than 100 investors have expressed interest in buying the collapsed German payments firm's core business and holdings.. . .  Full story
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US

Wall St struggles for direction after strong rally as virus cases surge

17h45 The S&P 500 was little changed on Tuesday a day after the benchmark index logged its longest streak of gains this year, as investors weighed expectations of an economic recovery against risks from a. . .  Full story

Corn, soy slip as U.S. crop weather looks less threatening

17h33 U.S. corn and soybean futures eased on Tuesday as weather forecasts looked less threatening to America's crops than they had a day earlier, analysts said.. . .  Full story

19 cases in Americas hit 5.9 mln, half in Latin America and Caribbean -WHO director

17h20 Latin America and the Caribbean now account for 50% of the COVID-19 cases in the Americas, and the number of registered cases continues to accelerate, the World Health Organization's regional director Carissa Etienne said on. . .  Full story
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Asia

Libya's NOC says oil blockade to halve output in coming years

17h10 Libya's National Oil Corporation (NOC) said on Tuesday that a forced shutdown in production since January was expected to cut output to 650,000 barrels per day in 2022 from about 1.2 million bpd achieved. . .  Full story

Israel pushes back creation of sovereign wealth fund as gas revenue trickles in

17h06 Israel has pushed back the creation of a sovereign wealth fund because tax revenue from natural gas has not yet hit the minimum needed to begin investing, and fund managers have not yet been. . .  Full story

Global recession will hasten refinery rationalisation: Kemp

15h30 Coronavirus and the cyclical slump in petroleum consumption are accelerating a long-term rationalisation of the global refining industry and a shift eastwards in its centre of gravity to Asia.. . .  Full story
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Forex

Dollar edges higher as virus worries sap risk appetite

17h39 The U.S. dollar inched higher against a basket of currencies on Tuesday, holding above the near two-week low hit in the previous session, as investors turned uneasy over new coronavirus flare-ups and local. . .  Full story

Brazil's Bolsonaro tests positive for coronavirus

17h22 Brazil President Jair Bolsonaro has tested positive for the novel coronavirus, he said in a television interview on Tuesday. (Reporting by Ana Mano Editing by Brad Haynes). . .  Full story

BRAZIL PRESIDENT SAYS HE BEGUN FEELING POORLY ON SUNDAY, CONFIRMS IS TAKING HYDROXYCHLOROQUINE AND AZITHROMYCIN

17h22 . . .  Full story
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Africa

Edgars owner to sell stake in clothing chain to rival retailer - Bloomberg News

14h05 -- Source link: https://bloom.bg/3iBgQml. . .  Full story

Morocco's 2020 budget review sees fiscal deficit at 7.5%, growth at -5%

06/07 Morocco's review of the 2020 budget expects the fiscal deficit at 7.5% and growth at -5% on the back of the coronavirus outbreak, the Royal cabinet said on Monday. The draft budget, which will be. . .  Full story

Morocco's economy to contract 13.8% in Q2, 4.6% in Q3 - planning agency

06/07 Morocco’s economy is expected to contract by 13.8% in the second quarter under the impact of the coronavirus lockdown, the state planning agency said on Sunday.. . .  Full story
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