EDITOR’S LUNCHBOX: Which is it, Zuma? President or security guard?
And which came first, the local chicken or sanctions banning exports of food products to Russia leading to cheaper chicken imports into SA?
Stories of Note
Bytes from the digital world
"If we can work our way out of [this] cycle and turn ourselves towards a virtuous cycle over the next three months or so, then it’s possible, in the first instance, to avoid the last downgrade — potentially from Moody’s; but secondly, create a real round of optimism in the country," former finance minister Pravin Gordhan tells Business Day TV.
With peak tourist season on its way, Cape Town faces the quandary of water rationing versus allowing visitors to have baths and flush the loo.
In My Opinion
Matters of debate
Chicken importers hurt local farmers and "there is little or no proof that the benefits of cheap imports (at about R17/kg, versus local production costs of about R25/kg) are reaching the consumer," argues Agri SA head economist Johan Willemse.
Jacob Zuma might simultaneously have been our president and a glorified security guard, being paid a R1m a month by a security company owned by shady Durban businessman Roy Moodley, writes Ranjeni Munusamy.
The long and the short of the markets
A horrific third trading update from one-time punter’s darling, Consolidated Infrastructure Group (CIG), wiped 57% off its share price on Tuesday, compounding last week’s 21% slide. CIG’s market capitalisation, which peaked at more than R7bn in October 2015, dropped to less than a 10th of that — to R687m — at Tuesday’s close of the market.
The JSE and Distell are refusing to shed any light on a R10bn trade in Distell shares on October 6, leaving minority shareholders to guess who the parties were behind the company’s biggest share trade.
Global wealth up 27% since the 2007 financial crisis, but spread is far from even: Credit Suisse study.— AFP news agency (@AFP) November 15, 2017
Today, less than 10% of the global population owns 86% of the global wealth.
Since year 2000, the number of millionaires globally has increased 170%. pic.twitter.com/R9U9ZWpl5m