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?
Over the past few weeks we’ve brought you several reports regarding the increasingly worrisome LIBOR scandal. The investigation into interest rate-rigging debacle is quickly snowballing and analysts have now begun wondering if “16 of the world’s largest banks have perpetrated the biggest fraud in history.”
A huge development is on the cards for the stretch of coastline from Cape Point to Gordon’s Bay. It would turn the area into the Copacabana of Cape Town, MEC Alan Winde has said.
On the back of numerous electricity price hikes comes the news that Eskom blew more than R36 million on staff parties and team building experiences last year. The parastatal has however come out and defended the expenditure saying fun days are used to commit workers to keeping the lights on.
If you weren’t aware of just how prolific Chinese investment is in Africa, wait until you see these startling images of what’s going on in Angola.
The Financial Services Authority (FSA), the regulator of all providers of financial services in the UK, has today confirmed that Barclays was definitely not acting alone, nor was this an isolated case in the authorities’ probe of banks rigging a key interbank interest rate.
On the back of news that Barclays bank was punished with a record fine of £290 million by UK authorities for interest rate manipulation, comes the speculation that the crisis, said to involve numerous banks around the world, could help push investors toward South African shores.
A reduction in the number of provinces is something the ANC led government has often toyed with, but it appears this policy has gained increasing support among party delegates at the ANC policy conference in Midrand this year. The biggest change would see the Northern Cape, Western Cape, and some parts of Eastern Cape merge.
Well this is terribly worrying. Yesterday, Barclays bank – one of the biggest banks in the world – was fined a record £290 million for attempting to manipulate the world’s benchmark borrowing rate – the Libor. This is a huge blow to the bank’s reputation and raises questions over the future of chief executive Bob Diamond. Up to 40 other global banks face being named and shamed too.
The Economist has surprised everybody by doing something fun, using the United Nations’ World Drug Report 2012 (released yesterday) to generate a map of the world’s heaviest weed users. The Pacific island of Palau wins easily, with nearly a quarter of people aged 15 to 64 having smoked pot in the past year. South Africa does okay, too.
Cyprus has become the fifth euro zone country to seek emergency funding from Brussels, and it may require a bailout amount worth up to half the size of its economy. We’re not talking the kind of numbers that Spain and Greece have been after, but when half of your economy is looking a bit worse for wear, it’s not ideal.
The issue of the construction of a luxury hotel development in the Kruger National Park was discussed at length on 2oceansVibe last year when the weighty issue of hotel development in the Kruger National Park became public knowledge. The first of these developments, to be built near the Malelane Gate, the most convenient entrance from Johannesburg and the airport in nearby Nelspruit, is finally about to get underway.
Much hype has been made about the imminent visit from 19-time English Premier League Champions, Manchester United. But, the City of Cape is expected to make a R3,7 million loss for hosting the event at the Cape Town Stadium. The city’s mayoral committee member for tourism, Grant Pascoe, argues that, despite the loss, hosting the match is part of the City’s drive to market itself as an “events destination”.