Booze ban costs 84,000 more jobs, hammers Pick n Pay; Denel has no cash to pay salaries; bond investors look at Europe
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In today's news headlines:
* The sector has already cut 118,000 jobs and projections show that a nine-week booze ban now will cost another 84,000.
* The alcohol prohibition has hammered Pick n Pay.
* State-owned Denel faces a liquidity crisis, with a court ordering it to pay workers outstanding salaries for May, June and July by Friday, Aug. 7, a copy of the court judgment showed.
* Foreign investors continued to desert South Africa’s bond market in July, with their share of government debt falling to the lowest level in more than eight years, reports Bloomberg.
* BizNews partner the Wall Street Journal reports that the world’s biggest money managers are betting big on European bonds. Learn more about your ad choices. Visit megaphone.fm/adchoices
* The sector has already cut 118,000 jobs and projections show that a nine-week booze ban now will cost another 84,000.
* The alcohol prohibition has hammered Pick n Pay.
* State-owned Denel faces a liquidity crisis, with a court ordering it to pay workers outstanding salaries for May, June and July by Friday, Aug. 7, a copy of the court judgment showed.
* Foreign investors continued to desert South Africa’s bond market in July, with their share of government debt falling to the lowest level in more than eight years, reports Bloomberg.
* BizNews partner the Wall Street Journal reports that the world’s biggest money managers are betting big on European bonds. Learn more about your ad choices. Visit megaphone.fm/adchoices
