Rand hit by Moody's; SpaceX tourist ploy; Musk-Gates electric spat; Glencore; Ecsponent

Loading player...
In today's business headlines:
* South Africa’s rising country risk is putting upward pressure on interest rates, even as inflation expectations decline, with credit-rating companies contributing to the negative sentiment, according to the central bank, says Bloomberg. The rand fell through R15 to the dollar as the news was absorbed;
* Elon Musk’s SpaceX will fly up to four paying customers aboard its Crew Dragon under an agreement that opens the way for private space tourism;
* Musk is having a Twitter spat with Microsoft founder Bill Gates, as he is disappointed after Gates bought a Porsche Taycan instead of a Tesla electric car. A Taycan exploded in a Florida garage this week, so perhaps Gates is having second thoughts;
* Climate change and rock-bottom gas prices are taking a toll on Glencore’s coal business, but it's not going to cut loose from the energy source as BHP and Anglo American are planning to do;
* Apple shares fell on Tuesday after the company confirmed that the coronavirus crisis has knocked its sales targets this quarter;
* Investors look set to lose millions as Ecsponent, a company listed on the Johannesburg Stock Exchange, runs into trouble. Learn more about your ad choices. Visit megaphone.fm/adchoices
18 Feb 2020 12PM English South Africa Investing · Business News

Other recent episodes

DA’s Double-Duty Man

South Africa doesn't hear enough from politicians who do the unglamorous work of fixing the state. Jan de Villiers is one of them. The DA MP and chair of Parliament's Portfolio Committee on Public Service and Administration just drove through a landmark law that tightens the firewall between party politics…
17 Apr 8AM 38 min

Elon Musk vs BEE: The explosive debate that could change South Africa forever

From Elon Musk’s Pretoria beginnings to global dominance, this conversation dives into power, policy, and South Africa’s economic crossroads. Solidarity’s Dirk Hermann unpacks the growing backlash against BEE, arguing it stifles jobs, fuels elite enrichment, and deters investment. With pressure mounting from markets, citizens, and international players, is reform inevitable?…
17 Apr 7AM 41 min

South Africa’s wildlife heartland under siege from illegal mining syndicates

Heavily armed illegal mining syndicates are no longer just a problem for abandoned shafts and remote communities. In this interview, De Wet du Toit of the Blyde River Task Force tells BizNews how zama-zama operations linked to foreign criminal networks are threatening South Africa’s water systems, tourism economy and wildlife…
16 Apr 7AM 22 min