Flash briefing: Govt court victory against public servants who want higher salaries; emerging markets; euro; rand

Loading player...
* In a major step towards reducing the country’s high state sector wage bill, the South African government has won a court case over public-sector wage increases that it has refused to pay.
* South Africa is among a number of emerging markets with an eyewatering debt mountain. Bloomberg reports that unprecedented stimulus in emerging markets drove debt levels to all-time highs in 2020.
* Fitch Ratings has the highest balance of net negative outlooks for European emerging markets in more than a decade, while Oxford Economics says rising government debt will slow Latin America’s recovery.
* China has led the global recovery from the coronavirus, becoming the only major nation to see growth this year, and is widely forecast to continue driving the rebound in 2021.
* The euro is on track for its best annual performance since 2017; the rand has been trading around R15 to the greenback. Learn more about your ad choices. Visit megaphone.fm/adchoices
16 Dec 2020 10AM English South Africa Investing · Business News

Other recent episodes

BN Daybreak Fri 16 Jan: Trump’s Nobel “Medal”; Farmers boo Steenhuisen; ASML jumps

In this episode of BizNews Daybreak, Alec Hogg covers the intersection of high-stakes global politics and critical local challenges: Trump’s Nobel Moment: Venezuelan opposition leader Maria Corina Machado presents her Nobel Peace Prize medal to Donald Trump at the White House, calling him the “heir to Washington”. US-Taiwan Trade Deal:…
15 Jan 11PM 18 min

BN Daybreak Thurs 15 Jan: Abedian on SA Silence about “21st Century Nazis”; Mining Indaba's back story; Sasol Surges

In this morning's briefing, Alec Hogg unpacks a volatile geopolitical landscape where conflicting reports emerge from Iran—Donald Trump claims de-escalation while internal memos suggest mass casualties. We speak to Iranian-born and bred entrepreneur and former UCT Economics Prof Iraj Abedian, who delivers a scathing critique of the South African government's…
14 Jan 11PM 17 min