Benchmark contracts head for weekly gains as recession fears ease
The latest heatwave will probably prolong the UK’s spending surge
Upgrade of outdated tobacco law on the way at last
The premier announced her cabinet after a meeting with the ANC’s deployment committee and its alliance partners
Sales of new iPhone models are likely to drive the company’s growth this year
Credit bureau sees more defaults ahead as central bank increases interest rates
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
GDP is expected to shrink for the first time in more than a year
Top swimmers have a rivalry that could develop into one of SA sport’s greatestt
US secretary of state Antony Blinken visits SA, a fire in Cuba damages its main fuel storage facility, Kenyans vote for a new president, protests in Venezuela, and more
Things are not looking good as we start the second half of the year. The MSCI global stock index notched up its biggest first-half of a year percentage drop on record on Thursday, while the US benchmark S&P 500 had its steepest percentage drop for the first six months since 1970. The JSE all share fell 2.25% to 66,223.32 points yesterday, taking its losses for the month to 8.14% and 10.16% so far this year.Behind the slides have been concerns over the Ukraine-Russia war, soaring inflation, higher interest rates and, more recently, a possible US recession. Stage 6 load-shedding is shredding the national mood. While Eskom’s overpaid and bloated workforce continues to thumb their noses at management with an illegal and unprotected strike without any layoffs so far. For essential services, it’s a joke, sending many from stage 6 to terminal 6 at OR Tambo.To put the week into perspective, Michael Avery is joined by Warwick Lucas, head of Galileo Securities; Raymond Parsons, professor in the School of Business and Governance at Northwest University and Isaah Mhlanga, chief economist at Alex Forbes.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.