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McDonald's closes US offices, corporate job cuts
Fast-food giant McDonald's is temporarily shutting down its US offices ahead of an anticipated announcement on corporate job cuts. The Wall Street Journal reported that McDonald's has instructed US and some international staff to work from home so that it can deliver decisions on jobs remotely. The burger chain has not disclosed how many positions
Macadamia Nut Shells: for Cleaner Stoves and braiis
South Africa's barbecue culture is about more than just the food; it's a social tonic that brings people together. Nathan Visser, who runs BraaiBaas, a company that sells barbecue-related products, prefers firewood to cook his meat, believing that it doesn't burn long enough to do much environmental damage. However, Michael Duncan, the founder of Shisa
Glencore's Teck bid suggests willingness to exit coal business
Glencore's recent failed $23 billion bid to acquire Teck Resources has signaled a potential shift in the company's stance on coal, suggesting that the biggest shipper of coal may be considering exiting the business. While many competitors have withdrawn from thermal coal under pressure from investors, Glencore has continued to profit significantly from mining the
2023 BMW M2 and Comparison with Competing Sports Cars
The Throttle House recently reviewed the 2023 BMW M2 and compared it with the Toyota GR Supra, Mustang GT, and the Porsche Cayman. The original M2 was produced over seven years, gaining popularity among drivers and media outlets. The upgraded version promises to be better than its predecessor. The Throttle House team starts their review
China's loans to Africa worry World Bank President
The President of the World Bank, David Malpass, has expressed concerns over China's loans to African countries, calling for more transparency in the terms and conditions. There are worries that developing countries such as Ghana and Zambia may struggle to repay their debts to Beijing. This concern arises as interest rates increase in the US
The promise of kelp-powered flight
Kelp is a type of seaweed that is fast-growing and relatively easy to cultivate, making it a vital source of food in many parts of the world. But could it also be used to power the aircraft of the future? From the US to the UK and India, seaweed cultivation is experiencing a renaissance, with
2023 Mercedes-AMG C43 Sedan
Mercedes-Benz's AMG tuning arm has created the all-new 2023 C43 sports sedan, which is set to hit dealerships by the end of 2022. The C43 comes with a turbocharged 2.0-liter four-cylinder engine that produces 402 horsepower and is assisted by a 48-volt hybrid system. The engine's turbocharger setup is partially derived from the company's F1
Major Exporters Sends Oil Prices Soaring Above $84 a Barrel
The price of Brent crude oil surged above $84 per barrel after several of the world's largest oil exporters announced surprise cuts in production. Saudi Arabia, Iraq, and several Gulf states announced that they were reducing their output by more than one million barrels of oil per day. In addition, Russia has decided to extend
SES and Intelsat are considering to come together To counter Musk's Starlink
Following decades of rivalry, two Luxembourg-based satellite competitors are considering a merger in order to take on a space industry upstart – billionaire Elon Musk. If the merger is successful, SES and Intelsat will form Europe's largest satellite firm. They are both residents of the Grand Duchy of Luxembourg, one of the world's tiniest countries.
Purchasing Managers’ Index (PMI) ) ticked down slightly in March to 48.1 from 48.8 in February
The seasonally adjusted Absa Purchasing Managers' Index (PMI) fell to 48.1 in March from 48.8 in February. After a strong start to the year, the indicator indicated a worsening in business conditions in the manufacturing sector for the second consecutive month. Yet, when the performance of the business activity index is considered for the full
Cape Town will hold its largest electricity tender This week
This week, the City of Cape Town will invite bids for its largest power purchase deal of 500MW. To mitigate the impact of load shedding in Cape Town, the City is looking into shorter contracts with private power producers. According to News24, the next contract is part of a three-phase procurement procedure for load shedding
With planned property tariff increase, Johannesburg ratepayers might pay three times the inflation rate
According to Ben Espach, director of valuations at rates expert firm Rates Watch, if the City of Johannesburg follows forward with its proposed tariff rises based on updated property assessments, ratepayers might end up paying three times the rate of inflation more. "If the City of Johannesburg wants to act responsibly towards its ratepayers, it
Eskom has been excused from reporting irregular and wasteful spending in its accounts
Under a special government proclamation published on Friday by Minister of Finance Enoch Godongwana, Eskom was excused from declaring irregular and unproductive expenditure in its yearly financial statements. The gazette, which was released on the final day of the fiscal year, exempts Eskom from Section 55 (2) (b) I of the Public Financial Management Act
How might technological solutions alter Africa's response to the climate crisis
Africa's contribution to global emissions is around 2% of the total. Despite this, it is one of the regions most adversely affected by climate change. Climate resilience and people's ability to live amid a climate disaster are at the centre of climate tech efforts. But, the solutions must be tailored to the local environment, which
Africa's Richest People 2023
After a global downturn for markets in 2022, Africa's richest people have lost a total of $3.1 billion in the last 12 months. The continent's 19 billionaires are worth an estimated $81.8 billion, down from $84.9 billion held by 18 African billionaires a year earlier. The 3.6% drop in the Forbes list for 2023 after
Africa's Most Beautiful Countries in 2023: Top Six Most Developed
Africa, the world's most populous continent, is famous not just for its population, but also for its plethora of natural resources, economic prospects, human manpower, and awe-inspiring tourism attractions spread across the continent. This makes Africa an ideal site for adventure, and if you are seeking for the most beautiful African nations to explore or
Africa's Top 10 Fastest Growing Industries
Africa is the second-largest continent by area and population, with one of the world's shortest coasts. In terms of development and financial potential, though, there is no shortage of beached whales all around. Most African governments are integrating structural adjustment initiatives with historically successful companies in order to maximise production and raise employment rates. Several
Oppp launch its foldable smartphone
Oppo has launched its first true global foldable smartphone, the Oppo Find N2 Flip, which is aimed at a different market to its previous foldable offerings. The clamshell folding phone, which is available outside of China for the first time, is designed to be compact and stylish with a focus on productivity. The device features
Direct Flights Between China and South Africa Resume
The Gauteng MEC for Economic Development, Tasneem Motara, has expressed her pleasure at the resumption of direct flights between China and South Africa. She described the cancellation of flights between the two countries as having a negative impact on trade, investment, and tourism between them. The resumption of flights would restore economic ties that previously
Stranded Tesla Trucks due to Software Issue
Tesla Trucks, the all-electric trucks produced by Tesla, have been making headlines lately due to reports of breakdowns and being stranded on the side of the road. However, recent reports suggest that the cause of these incidents may not be related to mechanical issues but rather a software problem. While there is no way to