(Gemma Ritchie/M&G)
In the local headlines today:
The Star
A crack cash-in-transit heist-busting unit proved to be the downfall of ANC staffer who is allegedly embroiled in “heinous crimes”.
- ‘Mandela was no sell-out’
President Cyril Ramaphosa and his predecessor Jacob Zuma both came out strongly to dismiss any talk of Madiba being a sell-out.
Business Day
- Less than 20% of SA’s gold mines profitable
The state of South Africa’s gold mining industry is worse than first thought, with fewer than 20% of gold mines making money at prevailing prices — while large job cuts are forecast in coming years, following decades of steeply falling employment.
- Manuel: Land issue not an easy sell
Trevor Manuel, the former finance minister and one of four investment envoys appointed by President Cyril Ramaphosa to sell SA to investors, said on Wednesday that explaining SA’s ongoing land debate has been tougher than expected.
- Surprise Angolan hyperinflation hits Shoprite
Hyperinflation in Angola dragged down Shoprite’s full-year revenue, sending the share price down as much as 6.5% on Wednesday.
- Transferring spy boss ‘avoided constitutional crisis’
President Cyril Ramaphosa has defended his decision to move controversial former spy boos Arthur Fraser to a powerful new post at correctional services — on the bases that he did so to avoid a “constitutional crisis”.
Sowetan
The fire which killed six people in Limpopo could have been avoided. This is according to the National Union of Mineworkers which yesterday blamed the Palabora Mining Company for the deaths.
The Citizen
- Fuel protest blockage threat
Police have warned against violence and intimidation in the planned national protest over fuel prices supposedly taking place next Friday, as an organisation vows to mobilise the country to block roads and major highways.
Daily Sun
Errol Present has been named as the ANC Luthuli House employee suspected of being involved in a cash-in-transit heist. Present and three others were arrested almost two weeks ago bit his name was only revealed yesterday
In the global headlines today:
Microsoft is scheduled to release earnings after Thursday’s close. The stock just hit a record high of $106.50/share and is trading near $105/share. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. (Forbes)
A two-year state of emergency imposed after Turkey’s failed 2016 coup will end on Thursday but Tayyip Erdogan’s opponents say his new executive presidency and a draft anti-terrorism law leave him with sweeping powers to stifle dissent.
Since emergency rule was declared, more than 150 000 civil servants have been purged and 77 000 people suspected of links to the attempted coup have been charged, in a crackdown criticised by rights groups and Turkey’s Western allies. (Channel News Asia)
The “Jewish nation state” bill downgrades Arabic as an official language and says advancing Jewish settlement is a national interest. It also states that the “whole and united” Jerusalem is its capital.
The bill, backed by the country’s right-wing government, says that “Israel is the historic homeland of the Jewish people and they have an exclusive right to national self-determination in it”. (BBC)
Amazon.com’s stock market value reached $900 billion on Wednesday for the first time, marking a major milestone in its 21-year trajectory as a publicly listed company and threatening to dislodge Apple as Wall Street’s most valuable jewel. (Reuters)