The rand is currently standing at 9,6980 to the dollar – the lowest it has been in the last four years.
Two German economists have released research detailing the stupid and bad decisions we make due to capitalism. Consumers still purchase from retailers that have been linked to the deaths of over 1 000 textile workers.
A worldwide survey displays the countires that are the most and least tolerant regarding race. Would the colour of your neighbour bother you?
For years, science has agreed that plastic waste is destructive for our environment , but not according to Somerset West inventor, William Graham. To Graham, the tons of plastic waste produced by our society on a weekly basis is an ever-growing stack of gold
Identical twins, Tyler and Cameron Winklevoss have amassed the single largest portfolio of online currency over the last six months, and it’s all in Bitcoins. The Winklevii, as they are better known, say they own nearly 1% of all available Bitcoins.
The Brics nations of Brazil, Russia, India, China and South Africa are aiming to establish a new development bank during the annual conference which began yesterday in Durban. The leaders of each of the five developing countries will discuss bringing together foreign currency reserves to ward off balance of payments or currency crises. Martyn Davies, […]
Pope Francis is the new leader of 1,2 billion Catholics. But he’s also the man in charge of the Vatican’s finances. Former pope, Benedict made progress in reforming the Vatican Bank by replacing the president and creating a financial-intelligence committee after allegeations of abuse and mismanagement spanning decades. Recent controversy Modern controversy surrounding the bank […]
While introducing the bill yesterday, Transport Minister, Ben Martins said the Transport Laws and Related Matters Amendment Bill was essential for, “the appropriate implementation of the e-tolling system”, arguing that it was a requirement for the implementation of the Gauteng Freeway Improvement Project. The bill was approved with a majority vote by the National Assembly with 193 […]
We caught up with 2oceansvibe Media’s accountants, Galbraith Rushby, who gave us this thorough analysis on the 2013 Budget Speech and what it means for you and me. In English that you can understand! Click for more.
A man made island of sail-shaped skyscrapers surrounded by tropical seas was billed to be China’s Dubai. But unlike Dubai, Phoenix Island has not been able to rise from the ashes. Property on Phoenix Island is considered a bad investment in light of the recent economic downturn. With China’s unstable economy proving to be crippling for the […]
Banking giant and international doer of evil, J.P. Morgan Chase confirmed yesterday during an event for investors at its Midtown Manhattan headquarters that it plans to cut 17 000 jobs over the next two years while committing to a program of global expansion. With a current workforce of approximately 260 000, the bank plans to […]
Gasp, horror, shock. The poor government didn’t see that vast amounts of jobs would be lost as a result of their poor management of an on-going crisis in the mining sector in South Africa.
Sir Richard Branson, the maverick billionaire whose Virgin brand spans the globe, needs zero introduction. But what does need an introduction, is his appearance in South Africa early next year.
Forex trading is a way to earn money. Enough money to live the holiday, ergo, not work. What kind of things might you like to do in your free, moneyed leisure time? You could: Buy a motorsports team Challenge children to high stakes games of putt-putt on the Promenade Go for a lunchtime surf with other retired millionaires […]
This can’t be linked to the recent strike turmoil in the country, but it’s still a reflection of heightened global economic uncertainty. It should also serve as a wake up call to those involved in wasteful spending, but it probably won’t.
Having just come out of winter, and with a decreased summer load on the national grid, you would expect that a little relief would be in order from our nation’s energy supplier – not quite. After lukewarm showers, green swimming pools and rooms lit with a single lightbulb, we’ll be finding out this week if we’re in for another increase in the price of electricity.
Over the past few weeks the government departments financial results have been doing the rounds in Parliament and, amongst other findings, it was revealed that local goverment has spent R4,67 billion on food, entertainment and travel and accommodation.
Well, this isn’t good news for Greece, especially as they have to reduce that budget deficit before they can get the next tranche of cash that has been promised to them.
The US government is on the verge of announcing its $16 trillion debt, a figure that is 104% of the nation’s gross domestic product. That’s right folks, the US’s debt has officially overtaken its economy.
As the petrol price is set to increase by 93 cents a litre on Wednesday, it’s been revealed that South Africa imported no crude oil from Iran last month, traditionally one of our biggest suppliers.
Earlier this year, it was reported that 1time Airline was in serious financial trouble, and some even wondered if they’d be around next year. 1time now requires a business rescue as they are “financially distressed”, and owe millions.
US regulators have accused British bank, Standard Chartered, of behaving like a “rogue institution” and of laundering $250 billion from Iran, hiding the transactions for over a decade, a violation of US sanctions.
It was estimated today that losses from a ponzi scheme involving the deceased Cape businessmen who were shot dead last week might exceed R2 billion. The Financial Services Board had visited fund manager Herman Pretorius last week Thursday, the day he died.
This will be a decision that will please many: Cape Town’s city council has approved the proposal to rezone the Cape Town Stadium in Green Point for commercial activity.
Elon Musk has been called the “most inspiring entrepreneur in the world right now”, and it’s not hard to see why when one considers what he does. Click through for a look at what Elon’s average day is like.
Billionaire Richard Branson, founder of the Virgin Group, has expressed his interest in buying back the business that started it all, Virgin Records.
Big banks just continue to let us down. In the latest scandalous development in the world of banking, the global bank HSBC has been used by Mexican drug cartels looking to get cash back into the US, and by Saudi Arabian banks that needed access to dollars.
In another financial blow that the company can’t afford, RIM has been found guilty of patent infringement and has been forced to pay out $147,2 million in damages.
BlackBerry maker, Research In Motion, has had a terrible past quarter. The smartphone manufacturer is now literally hemorrhaging money and sales figures.
Independent News and Media, the country’s largest newspaper group, may be up for sale. Of course, the first question that gets raised when these kind of things happen, which they don’t really, is are there politically connected buyers lining up to bid for the group?