Another rand/stock bloodbath; No civil service increases; SA won't run out; Political party unity; SA Express flights
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In today's business headlines:
- The Rand and stock market in South Africa tumbled again yesterday with the currency sinking to a four-year low, while stocks dropped to 2013 levels and bond yields spiked. Platinum miners were the worst hit;
- Wage increases for South Africa’s 1.3 million civil servants are going to be scrapped despite an increase that was previously agreed for the beginning of April, setting the government up for a confrontation with unions;
- The Consumer Goods Council has called on all South Africans to stop panic buying with the council's Patricia Pillay ensuring consumers that South Africa will not run out of goods;
- Political parties in South Africa, the ANC, Democratic Alliance, Economic Freedom Fighters, IFP and ACDP showed a rare sign of unity yesterday as they agreed to a joint national and non-partisan response to the coronavirus; and
- SA Express has suspended all flights until further notice. The airline said it would accommodate customers on alternative flights and non-critical staff would go on compulsory leave. Learn more about your ad choices. Visit megaphone.fm/adchoices
- The Rand and stock market in South Africa tumbled again yesterday with the currency sinking to a four-year low, while stocks dropped to 2013 levels and bond yields spiked. Platinum miners were the worst hit;
- Wage increases for South Africa’s 1.3 million civil servants are going to be scrapped despite an increase that was previously agreed for the beginning of April, setting the government up for a confrontation with unions;
- The Consumer Goods Council has called on all South Africans to stop panic buying with the council's Patricia Pillay ensuring consumers that South Africa will not run out of goods;
- Political parties in South Africa, the ANC, Democratic Alliance, Economic Freedom Fighters, IFP and ACDP showed a rare sign of unity yesterday as they agreed to a joint national and non-partisan response to the coronavirus; and
- SA Express has suspended all flights until further notice. The airline said it would accommodate customers on alternative flights and non-critical staff would go on compulsory leave. Learn more about your ad choices. Visit megaphone.fm/adchoices
