Central banks prepare for 2008-style Covid-19 hit; Eskom punishes manufacturers; PIC Ayo scalp
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In today's news headlines:
* Global central bankers pledged action aimed at stabilising markets rattled by the outbreak as pressure builds on them to ease monetary policy to safeguard their economies and appear set to move in tandem for the first time since the 2008 financial crisis;
* Sentiment in South Africa’s manufacturing industry fell to the lowest level in more than a decade in February as the prospect of continued power cuts and concern about the global economy weighed on confidence, reports Bloomberg; and
* The Public Investment Corporation has terminated the employment contract of its Executive Head of Listed Investments, Mr Fidelis Madavo, it announced. The axing is in connection with a R4.3bn investment in Ayo Technology Solutions, which has allegedly diverted money to the troubled Independent newspaper group.
* Global central bankers pledged action aimed at stabilising markets rattled by the outbreak as pressure builds on them to ease monetary policy to safeguard their economies and appear set to move in tandem for the first time since the 2008 financial crisis;
* Sentiment in South Africa’s manufacturing industry fell to the lowest level in more than a decade in February as the prospect of continued power cuts and concern about the global economy weighed on confidence, reports Bloomberg; and
* The Public Investment Corporation has terminated the employment contract of its Executive Head of Listed Investments, Mr Fidelis Madavo, it announced. The axing is in connection with a R4.3bn investment in Ayo Technology Solutions, which has allegedly diverted money to the troubled Independent newspaper group.
