Discovery; Goldman Sachs fund

Take a bow Discovery – again

By Alec Hogg There are a handful of globally competitive South African businesses. SAB Miller was the pioneer. It’s being joined by a growing number of others. After a shaky start Old Mutual is getting into that league. Judging by its success with French retailer Conforama, Steinhoff is also graduating into that elite club.  Investec, … Read more

Fiat shares jump on full ownership of Chrysler

By Frances D’Emilio of Associated Press: ROME – Shares in Fiat soared on Thursday on the news the Italian automaker will take full ownership of Chrysler, but some Italian unions worried what the deal will mean for jobs and investments in the country. In a New Year’s day announcement, Fiat Spa said it could complete … Read more

SA’s December road deaths highest in six years

By Adam Wakefield of SA Press Association: The number of road deaths between December 1 and 30 last year would likely be the highest recorded since 2007, an advanced driving skills company said on Thursday. A total of 1184 deaths took place over this period, or 39.5 deaths per day,www.driving.co.za managing director Rob Handfield-Jones said in … Read more

Rwanda’s ex-Intelligence head, Kagame opponent Karegeya found strangled in Michelangelo Towers

From SAPA-AP: Rwanda’s former spy chief has been found dead, possibly strangled, in a luxury hotel in South Africa, police said Thursday, and opposition leaders immediately accused President Paul Kagame of ordering his assassination. The opposition coalition Rwandan National Congress said Patrick Karegeya, a former colonel and longtime Kagame ally in war who turned against … Read more

R68m barrel of cocaine washed up at Mossel Bay

From the SA Press Association: Four amounts of what appear to be cocaine, with an estimated street value of about R68 million, have been found off Mossel Bay’s beaches since Christmas, Western Cape police said on Thursday. In the latest haul, a drum containing a black bag with 25 bricks of what appeared to be … Read more

SA’s youth wage subsidy comes into effect

From the SA Press Association: The Employment Tax Incentive Act, commonly known as the youth wage subsidy, came into effect at midnight, SABC news reported on Wednesday. It is aimed at alleviating youth unemployment, estimated at 70 percent, by offering employers incentives to hire young people. The Congress of SA Trade Unions had opposed the … Read more

The SAPS side of Tumelo Mboweni’s detainment

From the SA Press Association: Police are investigating an alleged threat by a policeman to deport the son of former SA Reserve Bank governor Tito Mboweni, Gauteng police said on Monday. “The police would like to state that all citizens are treated equally and fairly despite the colour of their skin [and] their nationality,” provincial … Read more

France’s top income tax rate jumps to 75%

By Caitlin Hogg  The highest court in France, the Constitutional Council, has approved a proposal by Socialist President Francois Hollande to charge a temporary tax of 75% on income above €1million earned by individuals. The levy has been put in place by the courts for two years and affects income earned in 2013 and 2014. … Read more

SA records a trade surplus in November

From the SA Press Association: South Africa recorded a trade surplus of R770 million in November 2013, the SA Revenue Service said on Monday. The surplus for November 2013 could be attributed to exports of R86.6 billion and imports of R85.8bn. Exports increased from October to November by R4.3bn (5.3 percent) and imports decreased by R8.3bn (8.8 … Read more

ANC makes Pretoria’s name change a 2014 priority

From SA Press Association: The ANC has placed changing Pretoria’s name high on its list of priorities for 2014, Beeld reported on Monday. The party in Tshwane would “act decisively” to ensure the Pretoria/Tshwane debacle was concluded in the new year, a senior African National Congress official in the region told the newspaper. The metro … Read more