Today’s business update — and the SA towns targeted for better internet and roads
1. Global markets struggled yesterday amid growing worries over a coronavirus outbreak in China. The rand was last at R14,38/$. Meanwhile, the SA authorities have increased surveillance of all travellers from Asia, especially China.
2. Government continues to struggle to find financing to keep SAA in the air. Read more.
3. Arcelormittal South Africa, the largest steel company in Africa, has finalised job cuts affecting more than 1 000 employees as it attempted to cut costs. Read more.
4. While no load shedding is expected on Friday, unplanned generation breakdowns have reached 12,451MW, Eskom said.
5. Former Public Enterprises Minister Malusi Gigaba overruled Eskom's board's appointment of an acting CEO in 2014 because the candidate was white and it was a general election year, the power utility's former chairperson Zola Tsotsi has told the commission of inquiry into state capture. Read more.
Graph of the day
Yesterday, the European Central Bank kept its main interest rate unchanged at zero. It has been 0.0% for almost four years.
Utterly useless fact of the day
Last week, a Chinese theme park made a live pig bungee jump to open its new attraction and try to attract visitors. Read more.
Tweets of the day
So far in the 21st century, LEGO has proven to be a better investment than gold.— Quite Interesting (@qikipedia) January 23, 2020
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Also from Business Insider South Africa:
- A black man in the US received a settlement in a race discrimination lawsuit. When he tried to cash the cheque, the bank called the cops, prompting a second racial discrimination case.
- Donald Trump tweeted a record 125 times on the day House prosecutors mounted their case against him at his impeachment trial
- Saudi officials close to the Crown Prince Mohammed bin Salman reportedly knew of plans to hack Bezos phone
- The outbreaks of both the Wuhan coronavirus and SARS started in Chinese wet markets. Photos show what the markets look like.
- Here's how to protect yourself from the Wuhan coronavirus while travelling