Business confidence, Sasol plunge; FlySafair wants Mango; Big Four break-up; Musk flies higher than Boeing
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In today's business headlines:
- South African business sentiment plunged to the lowest level in more than two decades in the first quarter and could weaken even further as the coronavirus hits the domestic and global economy;
- It has been a week of steep drops for some emerging-market stocks, but Sasol has out-plunged its peers battered by a crash in the oil price and concern among investors of a potential looming rights offer; shares traded more than 26% lower yesterday on the JSE;
- FlySafair has expressed interest in buying Mango, the low cost airline of South African Airways should it be put up for sale and says it will announce a new Johannesburg-Durban service next week;
- South African regulators are stepping up efforts to break the oligopoly of the country’s top auditing firms after accounting scandals involving two of the Big Four failed to do the job for them; and
- Tesla briefly passed Boeing as the most valuable industrial company in the US closing a gap that was almost $200bn a year ago.
- South African business sentiment plunged to the lowest level in more than two decades in the first quarter and could weaken even further as the coronavirus hits the domestic and global economy;
- It has been a week of steep drops for some emerging-market stocks, but Sasol has out-plunged its peers battered by a crash in the oil price and concern among investors of a potential looming rights offer; shares traded more than 26% lower yesterday on the JSE;
- FlySafair has expressed interest in buying Mango, the low cost airline of South African Airways should it be put up for sale and says it will announce a new Johannesburg-Durban service next week;
- South African regulators are stepping up efforts to break the oligopoly of the country’s top auditing firms after accounting scandals involving two of the Big Four failed to do the job for them; and
- Tesla briefly passed Boeing as the most valuable industrial company in the US closing a gap that was almost $200bn a year ago.
