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Steeper Overnight

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Kiwi Starts The Week On The Back Foot

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LOCAL NEWS

  • Eskom says Union wage demands are unaffordable as the utility is not in a position to pay the 9.5-15% demands.
    • NUM spox says "they must give us an offer"
  • Unions threaten SA's water supply as they prepare to strike over wages and and incentive bonuses.
    • While union Samwu has not stated it will actively disrupt essential water services, veiled threats were made to that effect, saying it "cannot guarantee" water supply and residents should "pray for rain".
    • Rand Water says it is highly unlikely but unions have said it's a case of "wait and see"
  • ANC members scramble to set up an appeals process to the step aside resolution after many of those at risk of suspension called for its establishment in another last ditch effort to delay or stop it.
    • Govt has stayed firm on its promises to deliver suspension letters this week, with the final announcement coming next Monday
  • Subsidiaries of SA Airways to receive R2.7bn financial relief, with a Special Appropriation Bill signed by the finance ministry as part of the business rescue bailout.
  • SAA Technical (SAAT) will receive R1.7bn, Mango Airlines R819m, and Air Chefs R218m.
    • SAA has received close to R50bn in Govt guarantees since 2008, and will continue to need support as it 'relaunches' as a new airline