Businesses brace as 30 June anti-immigration deadline arrives
A self-imposed deadline set by anti-immigration groups has rattled township traders and the inner city, with foreign-owned shops shuttering and neighbours feeling the pinch.
Business Bagel News
Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
Treasury moves to choke off Joburg's funding as deadline looms
Finance Minister Enoch Godongwana has warned the City of Johannesburg he may halt its transfers, citing an unfunded budget and mounting unpaid bills.
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African Bank walks away from its R5.7bn Eskom home-loan bet
The lender has scrapped a R5.7 billion deal to buy Eskom's staff home-loan book, choosing to consolidate after swinging to a R624 million half-year loss.
Motorists set for July fuel relief — even as the levy returns
Sharply lower oil prices look set to outweigh the return of the full fuel levy, pointing to cuts at the pumps in July.
Businesses brace for 30 June shutdown as police redirect R600m to security
With nationwide demonstrations planned for Tuesday, retailers and logistics firms are bracing for disruption as police mobilise alongside private security to avoid a repeat of 2021's unrest.
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South Africa refines its first high-purity rare earths in mining breakthrough
Steenkampskraal and Mintek have produced high-purity mixed rare earth products for the first time on home soil, laying the groundwork for commercial output by year-end.
New Woolworths boss orders an 'organisational reset'
Three weeks into the job, group chief executive Sam Ngumeni is reshaping Woolworths' structures and senior team to strip out duplication and revive growth.
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FirstRand to take R18bn UK hit as it plots its exit from Britain
The banking group says full-year earnings will fall by up to 9% after lifting its UK motor-finance provision to around R18 billion, and will treat its British operations as a discontinued business.
Treasury's crypto crackdown draws fire as comment deadline nears
With public comment on the draft Capital Flow Management Regulations closing on 30 June, economists warn that pulling crypto into exchange controls could backfire.
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Standard Bank holds its nerve as Middle East jitters dent client confidence
Africa's biggest bank by assets says geopolitical tension has made clients more cautious, but it has kept its full-year guidance unchanged.
Sasol's 20% slide has analysts sniffing a bargain
The petrochemical group's shares have tumbled with the oil price after the US-Iran peace deal, but at least one analyst sees a buying opportunity.
Discovery bets its future on becoming a 'super bank'
Six years after launching its bank, Discovery says the platform has become the operating system for its entire business, and it wants to redefine what a bank is.