Flash Briefing: Fresh corruption scandal erupts over SA energy supply; blow for Naspers-owned Tencent; Eskom wage fight
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* Bloomberg says the lawsuit could hamper attempts to bring new generation capacity on line and could exacerbate the country's electricity crisis.
* Meanwhile, South African state utility Eskom will start a fresh round of wage negotiations with trade unions next week, it said on Friday, warning any disputes could impact its ability to supply electricity.
* Impala Platinum said on Friday third quarter group output at managed operations rose by 4% to 5.59 million tonnes, with higher volumes reported at Impala Rustenburg, Impala Canada and Marula, reports Reuters.
* There is a lot of greed in the cryptocurrency markets with many first-time investors who do not understand the technology behind it, says Luno Africa’s general manager Marius Reitz.
* BizNews Premium Partner the Wall Street Journal says, in an exclusive story, that China’s central bank and four other regulatory agencies have told some of the country’s biggest financial technology firms—including Naspers-owned Tencent, ride-hailing company Didi Chuxing Technology Co. and e-commerce firm JD.com Inc. —that their apps should no longer provide financial services beyond payments. Experts say the unbundling of the various financial services will almost certainly deal a blow to the companies’ future profitability and valuation. Learn more about your ad choices. Visit megaphone.fm/adchoices
* Meanwhile, South African state utility Eskom will start a fresh round of wage negotiations with trade unions next week, it said on Friday, warning any disputes could impact its ability to supply electricity.
* Impala Platinum said on Friday third quarter group output at managed operations rose by 4% to 5.59 million tonnes, with higher volumes reported at Impala Rustenburg, Impala Canada and Marula, reports Reuters.
* There is a lot of greed in the cryptocurrency markets with many first-time investors who do not understand the technology behind it, says Luno Africa’s general manager Marius Reitz.
* BizNews Premium Partner the Wall Street Journal says, in an exclusive story, that China’s central bank and four other regulatory agencies have told some of the country’s biggest financial technology firms—including Naspers-owned Tencent, ride-hailing company Didi Chuxing Technology Co. and e-commerce firm JD.com Inc. —that their apps should no longer provide financial services beyond payments. Experts say the unbundling of the various financial services will almost certainly deal a blow to the companies’ future profitability and valuation. Learn more about your ad choices. Visit megaphone.fm/adchoices
