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Five finance stories you need to know to start your day

Apr 27 2018 05:45
Jan Cronje

Christo Wiese sues Steinhoff, bus strike negotiations remain deadlocked, petrol price set to increase, network operators must roll over data, and SARB warns debt at state-owned enterprises threatens financial stability.

Wiese sues Steinhoff for R59bn

Companies in SA billionaire Christo Wiese’s Titan Group announced on Thursday they are suing embattled retailer Steinhoff for R59bn. The claims relate to investments made by Wiese’s companies in Steinhoff in 2015 and 2016. Wiese stepped down as Steinhoff's chair in December last year. 

Another petrol price knock for SA motorists

The petrol petrol will increase by 49c a litre on Wednesday 2 May, Minister of Energy Jeff Radebe announced on Thursday afternoon.

SA cellphone users will soon be allowed to carry over unused data

Network operators will soon be required to provide customers with an option to roll over unused data, as part of a set of new regulations announced Thursday by the Independent Communications Authority of South Africa.

Nzimande, Oliphant fail to end bus strike as bosses hold firm

After six-and-a-half hours of talk at the Garden Court hotel in Johannesburg, national bus strike negotiations again deadlocked on Thursday evening, with Transport Minister Blade Nzimande and Labour Minister Mildred Oliphant unable to broker a breakthrough between unions and bus operators. 

State firms debt may threaten financial stability

The inability of state-owned entities to roll over debt could threaten South Africa's financial stability and ultimately result in more credit-rating downgrades, according to the SA Reserve Bank. 

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