Nissan to lay off thousands of workers as sales drop
The Japanese car making giant also said it will cut its global production by 20%.
Business
Up close with the 300 tonne driverless trucks
Big mining firms are switching to driverless trucks and other autonomous equipment.
China is trying to fix its economy. Trump could derail those plans
Trump won the election on a platform of steep import taxes, including tariffs as high as 60% on China.
US central bank boss says Trump can’t fire him
The US central bank cuts interest rates, as its chairman vows to stay on the job.
Interest rates cut but Bank hints fewer falls to come
Interest rates were cut to 4.75% but the Bank expects inflation to creep higher after last week’s Budget.
News24 Business | Double blow for Truworths: Weak sales update – and shareholders push back against exec pay
Holders of more than a quarter of the voting rights at Truworths, among them its largest shareholder, the PIC, opposed the group’s remuneration policy implementation report at its AGM on Thursday.
News24 Business | Data breach: Standard Bank confirms employee copied client info
Standard Bank has launched disciplinary proceedings against an employee who copied client data just one week after COO Margaret Nienaber said there was no evidence a spate of fraud incidents in July were due to an inside job.
News24 Business | Nissan cuts 9 000 jobs globally, CEO salary slashed in half amid ‘severe situation’
Japanese automaker Nissan on Thursday announced 9 000 job cuts as it slashed its annual sales forecast, saying it was taking urgent measures to tackle “a severe situation”.
Sainsbury’s and M&S warn Budget may push up prices
A number of major firms have warned over the impact of higher National Insurance costs.
News24 Business | EasyPay owner Lesaka upbeat amid consumer growth, but takes Adumo hit
Nasdaq-and JSE-listed Lesaka Technologies its acquisition of payments group Adumo weighed on profits in its first quarter, though it is still confident about building scale and has seen a revenue jump for its consumer division.
House prices hit record high, says Halifax
Despite the increase, the lender warns mortgage costs could remain “higher for longer” following the Budget.
News24 Business | Grindrod suspends Maputo operations after Lebombo closure
Freight and logistics group Grindrod said on Thursday it was temporarily suspending its Maputo and Matola terminal operations following the closure of the Lebombo border post on Tuesday night.
Will Trump’s victory spark a global trade war?
Trump has promised tariffs on all foreign goods. If he follows through, many smaller economies may be forced to respond in kind.
News24 Business | NUM agrees to wage deal at Sibanye’s gold operations
The National Union of Mineworkers (NUM) said on Wednesday it had agreed a wage deal with Sibanye Stillwater’s gold operations after months of negotiations.
News24 Business | ‘Enormous’ impact: Millions lost daily as SA mineral exports blocked from entering Mozambique
As a key mineral export route out of SA is blocked, producers face not just sales losses, but also possibly penalties from shipping lines.
News24 Business | New R4bn startup fund planned for African tech firms
Tech accelerator Startupbootcamp, British-East African business tycoon Ashish Thakkar’s Mara Group and Blend Financial Services are planning a $250 million (R4.4 billion) fund to invest in new African technology companies.
News24 Business | EXPLAINER | Why China’s economy is more vulnerable to Trump tariffs this time
A threat by Donald Trump, who has been elected as the next US president, to impose 60% tariffs on US imports of Chinese goods, poses major growth risks for the world’s second-largest economy.
Asda to cut 475 jobs and reduce hybrid working
The retailer says it is restructuring the business amid a challenging market.
News24 Business | Novus says it has completed its R43m acquisition of Media24 publications, On the Dot
Printing group Novus Holdings announced it has completed its about R43-million acquisition of three Media24 divisions.
News24 Business | OPINION | Hey stupid, it wasn’t just the economy. The US election was about inflation
High inflation of the last couple of years and the toll that has taken on perceptions of financial well-being stood out as clear concerns that also steered voters toward Donald Trump, writes Dan Burns.
News24 Business | GEPF says 95% of its two-pot withdrawals have now been paid
The Government Pension Administration Agency announced this week that it had paid 95% of the two-pot withdrawal applications.