There are so many things that can kill the careers of good, hard-working people. Honest mistakes often carry hard-hitting consequences. We usually only hear about the more egregious examples, such as when Yelp employee Talia Jane became an Internet sensation for writing a blistering post criticizing the company’s low pay and its CEO. To no one’s surprise, she quickly found herself out of a job. Most people don’t go down… Read more
he department of small business development wants the budgets of various national and provincial departments that owe small and medium enterprises (SMEs) huge sums of money to be slashed to allow the Treasury to pay the affected businesses directly. Small business development minister Khumbudzo Ntshavheni said her department will be engaging with the Treasury “to top-slice” from the budgets of departments that fail to pay small businesses. While the national… Read more
South Africa’s rand was firmer early on Friday, adding to the previous session’s gains in a recovery driven mainly by investors covering their short positions in anticipation of sharper falls as local and global growth fears loom. At 0650 GMT the rand was 0.57% firmer at 15.19 per dollar compared with a close of 15.28 overnight in New York, bringing gains to more than 1.5% since Wednesday when the currency… Read more
Dear readers, If you are about to hire a car, stop yourself. Seriously. Stop now. Make alternative arrangements. Get a friend to pick you up from the airport. Use a ride hailing service. Make whatever plan you must but whatever you do, do not submit your card for payment and sign on the dotted line. If you can’t make alternative plans, educate yourself on the dangers that come with hiring… Read more
Living within your means is not necessarily the same as ‘spending less than you earn’. There may be circumstances – such as paying for a tertiary education – where you need to spend money in order to increase your future earning potential. Similarly, in order to secure a job, you may be required to have your own transport, making it necessary to go into debt in order to secure an… Read more
The rand firmed early on Wednesday ahead of consumer inflation data, shaking off a growth downgrade by the International Monetary Fund and a bailout for power firm Eskom that could add pressure to the country’s finances. At 0650 GMT the rand was 0.25% firmer at 13.89 per dollar, reversing the previous session’s modest slide as the greenback rebounded on Tuesday. The IMF in its World Economic Update slashed its 2019… Read more
South Africa’s central bank shifted policy to help boost the economy and now the government must do its part to make the first interest-rate cut in more than a year more effective. That was the message from the Reserve Bank’s Monetary Policy Committee after agreeing to lower the repurchase rate to 6.5% from 6.75%. It was the first time since the central bank starting giving the breakdown of the vote… Read more
South Africans should address the three expenses that could be absorbing over 60% of their disposable income, says Yanga Nozibele, Investment Associate at Cannon Asset Managers. According to the most recent StatsSA Living Conditions Survey, the three major costs weighing on South Africans’ budgets are housing and utilities (32.6%), transport (16.3%), and food and non-alcoholic beverages (12.9%). Together, these three costs account for some 61.8% of all household expenditures. For… Read more
The rand steadied against the dollar on Tuesday, struggling for momentum as investors awaited clues on US monetary policy from the Federal Reserve officials and domestic data. Stocks closed lower. At 1500 GMT the rand was trading at R14.17 per dollar, after closing at R14.19 on Monday. Trading was largely muted ahead of US Federal Reserve Chairman Jerome Powell’s testimony to the Congress and release of minutes on Wednesday from… Read more
Traditionally, investors have been told that when saving for their retirement there is a standard path to follow. In the early years, when they are younger and many years from the end of their working lives, they can afford to take more risk and maximise their exposure to stocks. As they near retirement, however, they should become progressively more conservative with their money, moving from shares into cash and bonds.… Read more