5 things you need to know in SA business today and 9 news stories that gripped the world in 2018
1. Less ‘ho ho ho’, more ‘oh no’ this year as the markets continued to fall apart. The rand was trading at a distinctly uncheery R14.36/$ this morning. Overnight, the US market continued to fall after last week’s biggest weekly drop in nine months. Apple’s share price tanked after a Chinese court ordered a ban on the selling some of iPhones due to alleged patent violations.
2. The markets were also rattled by the UK government’s decision to can a doomed vote on a proposed Brexit deal. Prime minister Theresa May was faced with a humiliating defeat – and will now go back to parliament in January, but the deal will probably remain unchanged. This means the chances of a no-deal Brexit have increased.
The thing is, the best way to understand Theresa May’s predicament is to imagine that 52 percent of Britain had voted that the government should build a submarine out of cheese.— Hugo Rifkind (@hugorifkind) December 10, 2018
3. The UK credit report firm Experian is buying South African credit bureau Compuscan for almost R4 billion. Compuscan holds the credit information of 200,000 South African businesses and 26 million South Africans.
4. For a second day in a row, no load shedding yesterday. But the risk remains high today:
#POWERALERT 2No loadshedding was implemented today, but the risk of Stage 1 rotational loadshedding remains high for tomorrow @CityPowerJhb @City_Ekurhuleni @CityTshwane @eThekwiniM @eNCA @SABCNewsOnline @IOL @News24 @ewnupdates @SowetanLIVE pic.twitter.com/OQJBELM4bh— Eskom Hld SOC Ltd (@Eskom_SA) December 10, 2018
5. The EFF's Floyd Shivambu has denied that he weighed on VBS to get a home loan for his parents, as Daily Maverick reported.
Problem with #VBS home loan to #Shivambu's:— Pauli Van Wyk (@PaulivW) December 10, 2018
1 #BrianShivambu did not qualify;
2 Gets loan after #FloydShivambu intervenes;
3 Sgameka = slush fund, no legit business;
4 Apart from illegal R16,1m, Sgameka gets a "loan";
5 Doesn't service loan,pays some $ back with stolen VBS funds. https://t.co/WC6WQMPLQS
So now the money you allege I got is R2.4 million? What happened to the R10 million? Since when are mortgages illegal? You are so desperate for relevance and you are dismally failing. As I said, good luck in your wild goose chase! https://t.co/GzGltjaHKE— Floyd Shivambu (@FloydShivambu) December 9, 2018
9 news stories that gripped the world in 2018
Reported by Melina Glusac
Every year brings with it worldwide headlines that have readers electrified and on the edge of their seats. From the cave rescue in Thailand to Facebook's Cambridge Analytica scandal to Cuba ending its decades-long Castro rule, 2018 was no exception.
Here are the top 10 news stories that captivated us this year.
Twelve boys and their soccer coach got stranded in a cave in Thailand, and the world rallied to their rescue.
In summer 2018, a 12-boy soccer team (the Wild Boars) and their coach were celebrating a teammate's birthday when they made a routine trip into the Tham Luang cave in the Chiang Rai province of Thailand. Shortly after they entered, however, heavy rains that showered the region for the past few days flooded the cave and trapped them all inside.
After a week without contact, British divers found the group in early July. An international crew of rescuers resolved to rescue the boys before the next monsoon just days away. During those few days, the world watched as all 13 were pulled to safety from the cave and immediately rushed to the hospital.
The collective rescue effort included more than 100 divers from all over the world. There was one fatality: Saman Kunan, a former Thai Navy SEAL, died while supplying oxygen to the boys in the cave.
Facebook's Cambridge Analytica scandal revealed that more than 50 million people's personal information was compromised for "research."
Data firm Cambridge Analytica accessed data from 50 million Facebook users during the 2016 US presidential campaign without the users' permission, but this didn't come to light until March 2018.
Using a personality quiz app for Facebook, the company accessed data not only from users who downloaded it, but also the data of their friends. The data breach gathered information about Facebook users' identities, networks, and "likes" in order to better identify their voting behaviour. Then-candidate Donald Trump's campaign later hired Cambridge Analytica in June 2016 to help target ads using voter data gathered from millions of adults in the US.
Though Facebook said Cambridge Analytica activities were removed from its site in 2015, founder and CEO Mark Zuckerberg testified before Congress in April 2018 and said, "It was my mistake, and I'm sorry."
Kim Jong Un announced that North Korea will denuclearise.
During a June 2018 summit in Singapore, North Korean Supreme Leader Kim Jong Un announced that he wanted to end the nuclear tension between his country and the United States by signing an agreement with President Trump including the denuclearisation of his country.
The two drew worldwide criticism, however, for not offering any specific plan, outline, or proof of said denuclearisation. Professor at Kookmin University in Seoul, South Korea, Andrei Lankov said the agreement had "zero practical value." Others are also doubtful as to whether or not Kim Jong Un intends to keep his promise.
The Supreme Leader later told South Korean officials that he'd like to denuclearise before President Trump's first term ends in 2021.
The world was engrossed by Dr. Christine Blasey Ford's testimony in the Brett Kavanaugh hearings.
When Dr Christine Blasey Ford gave her testimony during the Senate Judiciary Committee hearings regarding her sexual assault allegations against then-Supreme Court nominee Brett Kavanaugh, women with similar stories worldwide united.
Hundreds of people contacted British newspaper the Guardian, offering their responses to the hearings and sharing their personal experiences with sexual assault. Readers from South Africa to Dubai to Scotland reached out to The New York Times to offer their responses, siding with Dr Ford and following the Senate's deliberation (and ultimate decision) closely.
Puerto Rico was left without electricity for 11 months, and the world came together to help.
In the wake of Hurricane Maria, much of Puerto Rico was left without electricity - for almost an entire year.
The lack of power was an ongoing issue as state-owned utility companies struggled to provide supplies and restore power to more than 1.4 million residents after the hurricane. According to CNN, the slow reparation time has led to dozens of deaths this year, and charities around the globe set up funds asking for donations to assist the territory by providing water filters, solar lights, etc.
As of August, power had been restored to everyone save 25 customers.
The Castro family's more than 50-year reign over Cuba came to an end with the election of Miguel Díaz-Canel.
It's hard to imagine Cuba without a Castro, but in 2018, Cuba's National Assembly elected Miguel Díaz-Canel to be the nation's next leader.
Having fought against the dictatorship of Cuban leader Fulgencio Batista, the Castro regime began in 1959. Raúl Castro resigned in 2018 at the age of 86. His successor, Miguel Díaz-Canel, was a power player in the Cuban communist party and previously served as vice president.
Geoff Thale, vice president for programmes at the Washington Office of Latin America, spoke to ABC News about the election of Díaz-Canel, saying, "To have someone without the family name or the same aura of revolutionary is a historic shift ... I wouldn't expect in his first six months we'd see a series of dramatic shifts. But he is going to face serious economic problems and questions of his legitimacy."
This year, Iraqi voters held their first election since driving out the Islamic State.
Iraqi voters flocked to the polls this year for the first time since driving out the Islamic State (aka ISIS) in 2017 after the Iraq Civil War. It was a milestone election for the country, and Iraqis were given the power to decide their future with the potential to shift the balance of power and mend divisions between ethnic groups.
After much confusion and a recount, Iraq finally elected a new prime minister and president in October: Adil Abd al-Mahdi as prime minister and Barham Salih as president. According to CNN, the prime minister holds most of the power. With both men at the beginning of their terms, the world will watch as Iraq begins to rebuild.
Bitcoin (and other cryptocurrencies) experienced a fall from grace.
The cryptocurrency industry hit a peak in January 2018, having since lost more than $670 billion in capital. For years, predictions about the role of cryptocurrencies and Bitcoin, specifically, have been made, the latter's value changing regularly.
The industry has been on a steady decline throughout 2018, Bloomberg recently reporting Bitcoin's worth falling below $5,000. Experts attribute some of the decline to Bitcoin having more sellers than buyers, though it could be the result of a multitude of reasons.
A royal wedding took place, and the entire world was transfixed as Prince Harry and Meghan Markle said "I do."
In a world rife with tragedy and turmoil, this year's royal wedding was a brief respite - and an escape into a real-life fairytale.
England's Prince Harry wed American actress Meghan Markle (now known as the Duchess of Sussex) on May 19. Television viewership of the wedding was higher than that of Prince William and Kate Middleton's, with more than 29 million people in the United States tuning in to watch Harry and Meghan get hitched, compared to William and Kate's 23 million. The combined number of British and US viewers surpassed 50 million.
The world is still watching, too, as Markle settles into her secondary role: global fashion icon.