BusinessLIVE - For Your Ear

The EU country most reliant on tourism says things are looking up

Prague/Zagreb — Braced for a knockout blow from Covid-19’s effect on travel, the EU’s nation most reliant on tourism may yet get a reprieve. Croatia, which recorded a 96% dive in foreign visitors in May from a year earlier, revealed another similarly shocking number for June on Wednesday, showing a…

12 Aug 2020 7AM 2 min

How the youth has borne the brunt of the Covid-19 pandemic

Brussels — Young people are being hit especially hard by the coronavirus crisis as their jobs dry up and education is disrupted, according to the International Labour Organisation (ILO). Under 30s often work in sectors suffering the most from the pandemic, making them particularly vulnerable. While that’s a familiar trait…

12 Aug 2020 7AM 2 min

The good and the bad Kamala Harris brings to the Biden ticket

San Francisco — US senator Kamala Harris brings an aggressive approach to politics and public policy, deep electoral experience and hands-on expertise in the beleaguered US criminal justice system as Joe Biden’s running mate. Harris, at 55 a full generation younger than Biden, also imparts a youthful persona and diversity,…

12 Aug 2020 6AM 6 min

UK destined to employ iron fist in a velvet glove with companies

The pandemic has asked many difficult questions of Europe’s governments, from whether to close down schools to which companies to bail out. As economies continue to open up, politicians face a new daunting choice: should they leave their employment furlough schemes in place? These support programmes have kept workers in…

12 Aug 2020 5AM 4 min

World stocks are fairly static as gold goes on a wild ride

London — Europe’s stock markets held their own on Wednesday after doubts emerged about fresh US stimulus, while it was shaping up to be another wild day for gold and silver, as well as Turkey’s troubled lira. A lively start to European trading saw sterling shrug at news that Britain…

12 Aug 2020 5AM 3 min

India’s villagers flout virus rules saying it has ‘weakened’

Baihata Chariali/Karalapakkam — Harmahan Deka doesn’t wear a mask anymore to avoid the coronavirus, nor does he try to keep a safe distance from others. For the 25 men and women he works with in his construction materials business near the small town of Baihata Chariali in India’s Assam state,…

12 Aug 2020 5AM 4 min

How the West lost faith in Hong Kong’s judicial system

Hong Kong — The statements issued by China and Hong Kong after Monday’s arrest of media tycoon Jimmy Lai underline how quickly a national security law passed in June is undermining the city’s independent judicial system. The Hong Kong police force, on Twitter, disputed a claim it searched the newsroom…

12 Aug 2020 5AM 6 min

Questions about UK’s Covid-19 response as economy is battered

London — The UK suffered more than any major European economy during the coronavirus lockdowns, raising questions over the government’s handling of the pandemic and putting it under renewed pressure to deliver a recovery. The 20.4% slump in the second quarter, the biggest since records began in 1955, also outstripped…

12 Aug 2020 4AM 3 min

Stock picks — Visa and Coronation

Mia Kruger from Kruger International chose Visa as her stock pick of the day and Nick Crail from Ashburton Investments chose Coronation Fund Managers. Kruger said ( “I’m going for Visa, it’s lagging behind Mastercard and is one of the two largest payment networks in the world. Both of them…

12 Aug 2020 4AM 1 min

SA could move to level 2 this week to save Covid-weakened economy

The country could move to lockdown level 2 this week if cabinet accepts a recommendation from directors-general to open more sectors of the economy. A forum made up of directors-general of national departments (Fosad)‚ met on Sunday and resolved to recommend to the National Coronavirus Command Council (NCCC) that almost…

12 Aug 2020 3AM 2 min

How Covid-19 might increase risk of memory loss and cognitive decline

Of all frightening ways that the SARS-COV-2 virus affects the body, one of the more insidious is the effect of Covid-19 on the brain. It is now clear that many patients suffering from Covid-19 exhibit neurological symptoms, from loss of smell, to delirium, to an increased risk of stroke. There…

12 Aug 2020 2AM 7 min

Gold sinks below $1,900 on stronger dollar

Bengaluru — Gold fell below the $1,900/oz level on Wednesday as a resurgent dollar prompted investors to reassess their positions after a record-breaking price rally. Spot gold declined as much as 2% to an almost three-week low of $1,872.19, resuming its free fall after a brief hiatus in early trade…

12 Aug 2020 1AM 2 min

Oil remains close to five-month high

Singapore/Sydney — Oil held a loss — but remained near a five-month high — as an industry report pointing to another drop in US crude stockpiles was overshadowed by the coronavirus and a lack of progress on US stimulus talks. Futures in New York were steady near $42 a barrel…

12 Aug 2020 1AM 2 min

Uncertainty around US stimulus puts pressure on Asian stocks

Tokyo/Boston — Asian stocks dipped on Wednesday on the growing uncertainty over whether the US legislators would agree on an additional round of big fiscal stimulus to support an economy still struggling with the novel coronavirus. The hope of vaccine development, however, prompted some investors to reduce safe-haven assets such…

12 Aug 2020 1AM 4 min

JSE faces mostly weaker Asian markets on Wednesday

The JSE faces weaker Asian markets on Wednesday, with some focus on US politics, amid an apparent deadlock over a Covid-19 stimulus package. National Australia Bank analyst Rodrigo Catril said in a note that there is the hope that US politicians will look to restart negotiations on a new fiscal…

12 Aug 2020 1AM 1 min

Joe Biden announces Kamala Harris as White House running mate

Washington — Democratic presidential candidate Joe Biden on Tuesday tapped senator Kamala Harris as his choice for vice-president, making her the first black woman on a major party presidential ticket in US history and providing him with a partner well suited to go on the attack against Republican President Donald…

11 Aug 2020 5PM 5 min

Lockdown day 138: Latest Covid-19 numbers

Number of Covid-19 infections in SA rises to 566,109, there have been 426,125 recoveries and 10,751 deaths to date

11 Aug 2020 4PM 1 min

ALLAN GREENBLO: IMF loan could spark a seismic shift in SA’s politics

Whenever this ANC government announces an initiative, it’s quickly followed by incredulity. Not without good reason: it’s a scepticism provoked by long experience of promises designed to deceive, or policies destined to fail. Why should this time of Covid-19 be any different? Well, there is potentially one reason: SA’s choices…

11 Aug 2020 4PM 7 min

SARAH BUITENDACH: Where to find the best global news, right now

Every morning, I roll over in bed, grab my phone, check my horror show of an inbox, read a couple of morning mailers like this one, and then open the New York Times app. I do their Spelling Bee, and then read about all kinds of things I didn’t know…

11 Aug 2020 4PM 4 min

Fed’s Barkin warns US economy faces ‘sinkhole’ as recovery slows

Washington — The US economy has lost momentum in recent weeks because of a resurgence of the coronavirus and that may call for more sustained fiscal support to cushion the blow, a senior US central banker said. “We thought the economy faced a pothole and stimulus put a plate over…

11 Aug 2020 4PM 2 min