There were denials all round this week that Anglo American was a potential takeover target. In a high-stakes poker game, that's what you do: you pretend to fold before the game has really started. Anglo's share price exploded in the past two months as rumours of a possible takeover started to circulate.
Business is helping tackle crime, with several initiatives by Business Against Crime bearing fruit. Vehicle theft and hijackings are down about 16% over the past five years from about 115 000 in 2001 to 96 000 last year. Even more impressive is the 30% reduction in Gauteng hijackings last year.
Gas supply in the Gauteng area is expected to return to normal over the next few days after a series of mishaps that has throttled supply since the onset of an early winter in May. Afrox, the market leader in bottled gas, says it has supplied an additional 50 000 9kg bottles to alleviate the shortage.
Mild panic has gripped the world's financial markets as the stock market rout that started in early May continued, with many stocks losing up to 10% of their value in as many days. Asset managers attempted to douse the growing panic by advising investors to stay calm, though those who heeded the same advice in 1998 had to wait nearly two years to recover from the 40% drop in stock prices.
Trade experts say the United States is demanding far deeper market access than South Africa is willing to give, particularly in the area of services that are covered by regulatory protection rather than tariffs. South African business appears to be waking up late to the fact that the country may be walking away from a free trade deal with the US.
