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May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Cape Town - Rowmoor, a clothing company in Qwa-qwa, has been fined 4.1 million rand in an arbitration over its failure
to pay its workers the annual bonuses, outstanding wages and annual leave pay last December. And the next month the company advised their staff that all employees were placed on short time.
The union complained to the national bargaining council for the industry who took legal action. The Southern African Clothing & Textile Workers' Union (Sactwu) joined the action which was settled in arbitration.
According to the union in a statement issued on Tuesday the financial compensation awarded by the arbitrator is the biggest ever amount made in the industry. The R4.1m rands included legal costs.
Andre Kriel, deputy general secretary of the union pointed out that the award also establishes some potential precedent setting legal principles on short time, including that the imposition must be preceded by proper consultation with the trade union. There should be meaningful engagement based on the release of relevant information that would enable the union to
engage effectively in consultation, and short time is intended to be only a temporary measure setting six weeks as a time period guideline.
- I-Net Bridge