BizNews Radio

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2601
Russia has first Covid-19 vaccine; Eskom race r...
In today's news headlines: * SA’s Covid-19 death toll heads towards 11,000 and the number of reported cases is at 564,000 - as Russia announces it has the first Covid-19 vaccine. * Embattled power utility Eskom has been criticised for appointing a white man to its treasury. * Sasol, one of the most closely watched shares on the JSE, has issued a profit warning. * Pro-democracy protestors have followed the example of South African trader James Gubb in using stock market trades to send a political message - in this instance pushing a media company's share price up by a staggering 1,100%.
3 min
2602
Inside Covid-19: Foods that blunt virus's sting...
In episode 70 of Inside Covid-19, some smart advice from Discovery's chief dietician who explains what to eat to blunt the coronavirus sting; a South African healthcare hero, Wits Professor Guy Richards, shares his own Covid-19 infection journey and explains why his team applied dexamethasone well before the lifesaving drug became popular; Eskom pension fund declares a R100m bonus to help its 33 000 members overcome the financial strain of the pandemic; the inside story behind Kodak’s crazy share price surge after the White House throws $765m at the old photography icon to get it to pivot into making chemicals to help fight the pandemic; and support grows for the unusual protest action by the owner of a safari company based near the Kruger National Park.
35 min
2603
Inside story of Kodak's surge on $765m White Ho...
Mostly forgotten photography icon Eastman Kodak jumped into the headlines this month after the Trump White House picked it out for special treatment in a plan to move production of chemicals that go into cornavirus drugs back to the US. The now tiny US company was incentivised through a $765m government loan - news of which sent its share price from $2 to over $60 before easing back to close the session at $33 and ease back further to its current $10, still five times the pre-loan announcement. Here's the inside story from our partners at the Wall Street Journal.
15 min
2604
Prof Guy Richards on contracting Covid-19: ‘Tra...
At least eight doctors in Gauteng have succumbed to Covid-19 and according to Zweli Mkhize, there are 24,000 healthcare workers infected with the disease in South Africa. Angry health workers say it’s an issue that stems from a severe shortage of good quality PPE. Among the infected is Professor Guy Richards who is advising at the Charlotte Maxeke Johannesburg Academic Hospital. Prof Richards told Biznews that, although hundreds of healthcare workers are infected, he regards it as one of the hazards of his occupation. He also voiced his disappointment in the government’s decision to allow taxis to operate at full capacity, describing them as a ‘major means of transmission’.
14 min
2605
SA Covid-19 deaths at 10,500; govt wants SAP to...
In today's news headlines: * About 10,500 people have died of Covid-19 in South Africa, with the total number of reported cases at around 560,000. The number of global Covid-19 cases is now around 20m. * Tencent Holdings, the Chinese tech giant that underpins Naspers and its Amsterdam-listed Prosus, added to Friday’s sharp decline to start the week, putting the stock’s two-day loss of market value at $66bn. * Listed hotel group Sun International announced two of its casinos won’t reopen after the country’s coronavirus lockdown ends. The Covid-19 shutdown has wiped out income for accommodation providers and South Africa's tourism sector is in crisis. * South African investigators are seeking to recover more than R400m from German software firm SAP for two government contracts they allege were entered into unlawfully.
2 min
2606
Coping with high Covid-19 death toll among heal...
The Covid-19 death rate is particularly high among hospital staff. The Discovery Life team says two-thirds of the life claims that they've had during Covid have been for healthcare workers. In this podcast, BizNews founder Alec Hogg speaks to Dr Adri Kok, a Covid-19 survivor who works at the Netcare Alberton Union and Clinton Hospital, about how staff are coping with their high-risk jobs. As a way to show appreciation for the nurses at her hospital, doctors and members of the community gather to show their gratitude by forming a guard of honour- Nadya Swart
10 min
2607
Numsa investment co. plans to bring drugs from ...
In this interview with broadcaster Tim Modise, Khandani Msibi, CEO of Numsa Investment Company, talks about 3sixtyBiomedicine’s offering hope in fighting Covid19 by bringing Covid19 therapies Remdesevir from India and from Russia Avifavir to South Africa. He says the medications are likely to be made available in the country in two weeks. He also talks about the PPE-related corruption and the lost opportunity to empower black-owned businesses.
26 min
2608
Steinhoff: Why Markus Jooste still roams free -...
In 2017, an accounting scandal erupted at South African multinational Steinhoff. The German authorities uncovered a number of financial irregularities - and Steinhoff CEO Markus Jooste jumped ship. Steinhoff's demise meant that a number of wealthy investors, including billionaire Christo Wiese, have felt the devastating effects of its share price drop. Understandably, South Africans are crying out for Jooste to be brought to justice. In his weekly webinar, BizNews colleague Tim Modise asks National Prosecuting Authority (NPA) spokesperson Sipho Ngwema when we can expect to see results. - Claire Badenhorst
2 min
2609
CR cracks his corruption whip as Covid-19 fraud...
In today's news headlines: * President Cyril Ramaphosa has unveiled yet another raft of plans to deal with the corrupt and the captured, including detailed reporting on which companies have been approved to supply Covid-19 services. * SA's prosecuting authorities have provided granular detail on how the country is tackling the big corruption cases and they have also revealed the scale of Covid-19 corruption. * MTN is withdrawing from the Middle East. * SA ministers are in talks with Zimbabwean counterparts in connection with problems north of the Limpopo.
4 min
2610
Unpacking the scale of Covid-19 corruption: Ove...
Corruption allegations surrounding Covid-19 contracts have been a hot topic, especially since the president has promised that he will now be 'clamping down' on those who cross the line. In particular, SA is dealing with corruption cases surrounding the purchasing and supply of PPE, which puts frontline workers at risk when taking care of patients. In his weekly BizNews webinar, broadcaster Tim Modise interviewed Advocate Andy Mothibi of the Special Investigating Unit (SIU) to find out exactly how many cases they've received thus far, and what's being done.
4 min
2611
Afrika Tikkun's Marc Lubner on dire effects of ...
Afrika Tikkun has played a very special role in looking after the poorest of our nation. Over the 25 years it's been around, the non-profit has put systems in place to ensure their funding goes as far as it can. One thing they can guarantee is efficient delivery, says CEO Marc Lubner - who shares the details of the impact of Covid-19, and the related shutdown, on communities.
10 min
2612
Magda Wierzycka: 80% probability for Oxford Cov...
Magda Wierzycka, co-founder of disruptive fintech Sygnia, expresses gratitude that SA is unable to borrow more offshore as that would send the country to a sovereign default within five years. The outspoken actuary, economist and businesswoman also updates us on the status of the Oxford University Covid-19 vaccine.
13 min
2613
How gym visits and good driving channelled R2m ...
Discovery Vitality's MoveToGive is an initiative where scheme members donate their active rewards to selected charities. In the four years since its inception, MoveToGive has donated to a number of causes, including giving over R370,000 to help people affected by the Knysna fires and donating over 42,000 sanitary packs to help empower schoolgirls in need. It also donated over 100,000 hand sanitisers and half a million litres of water to help with the water crisis in Cape Town. Now, as Covid-19 takes its toll, Discovery is allowing members to donate their rewards towards those affected by the pandemic. Dr Mosima Mabunda, Head of Wellness at Discovery Vitality, talks to BizNews founder Alec Hogg about the different ways in which Discovery is giving back.
10 min
2614
9,000 Covid-19 deaths; vaccine in 2021 - Gates;...
In today's news headlines: * The global death toll from Covid-19 has surpassed 700,000, data from Johns Hopkins University shows. * Bill Gates, The Microsoft Corporation founder and philanthropist said in an interview that while the US leads in research, “we’ve only taken care of ourselves” in producing and procuring a vaccine. * South Africa’s ban on alcohol sales has put investment projects worth at least R12.8bn on hold. * The ANC says it is 'embarrassed' by allegations of corruption. * South African miner Gold Fields said on Wednesday booming gold prices could drive up half-year profits by more than 300%. * The tobacco ban is the focus of another court battle, with critics arguing that the prohibition on cigarette sales is costing jobs and eroding tax revenues.
4 min
2615
Inside Covid-19: Desperation grows in hungry to...
In episode 69 of Inside Covid-19, worrying feedback on growing hunger in SA’s townships but with solid suggestions on how collaboration CAN overcome the unprecedented challenges; we hear from a hospital in Alberton where doctors and members of the community show their gratitude by forming a guard of honour when nursing staff change shifts; some tips from the way some businesses are successfully adapting to the massive disruption wrought by the pandemic; and rational questions from the tourism sector which is urging the SA government to drop irrational rules on domestic travel. - Alec Hogg
31 min
2616
Yusuf Abramjee on cigarette ban: Instead of run...
Yusuf Abramjee, the founder of Tax Justice South Africa, has filed an affidavit in the Western Cape High Court in support of a bid by British American Tobacco (BATSA) to overturn the four-month-old cigarette ban. The economy has already lost over R4bn in indirect taxes, and thousands of people have lost their jobs. Abramjee, who is no stranger to campaigning against illegal trade, hopes that common sense will finally prevail. "The case, which will be heard on 5 and 6 August, is a choice between protecting honest citizens and their constitutional rights or allowing criminals to continue coining it in a booming tobacco black market." Abramjee joins BizNews founder Alec Hogg to discuss the importance of the case and the extent of illicit trade happening under our noses. - Claire Badenhorst
12 min
2617
Inside Covid-19: Complacency now the danger as ...
In episode 68 of Inside Covid-19, a rational perspective on the plateauing of coronavirus infections cases in South Africa from Discovery Health CEO Dr Ryan Noach with a warning that although we've peaked, complacency will be costly; Yusuf Abramjee, founder of Tax Justice SA, shares a compelling argument on the eve of a historic High Court action bidding to end the ban on tobacco sales; and we track down Sygnia's founder Magda Wierzycka, who, after bringing a slice of the Oxford University Covid-19 vaccine company to South Africans, will tomorrow launch a health innovation investment fund. - Alec Hogg
31 min
2618
Booze ban costs 84,000 more jobs, hammers Pick ...
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.
3 min
2619
PANDA's Nick Hudson tells Alec Hogg: lockdown t...
Nick Hudson, the coordinator of Pandemic Data and Analytics (PANDA), a multidisciplinary initiative, has for some months now described the South African government’s mantra that the lockdown saves lives and that it is lives versus the economy to be a false dichotomy. In this fascinating excerpt from Monday’s Rational Radio webinar, Hudson shares PANDA’s latest analysis of South Africa’s lockdown with BizNews founder, Alec Hogg. Hudson maintains his conviction that - across the world - lockdowns ultimately had no effect at all and that ‘the curve just does what the curve will do’. On the topic of excess deaths recorded in South Africa recently, Hudson believes that we will soon know for sure that these are not are not coronavirus deaths and that we're actually starting to grapple with lockdown deaths. - Nadya Swart
19 min
2620
Eskom in court to recover R3.8bn; CR on PPE ‘sc...
In today’s business news headlines: * Eskom and the Special Investigating Unit have issued a summons in the North Gauteng High Court in Pretoria against former executives and board members, seeking to recover about R3.8bn ($220m) that it alleges was diverted illegally; * President Cyril Ramaphosa has vowed to deal harshly with the alleged corruption in the procurement of personal protective equipment (PPE) calling those who profited from the Covid-19 pandemic, ‘scavengers’ and a pack of hyenas circling wounded prey; * The alcohol ban has prompted South African Breweries to pull the plug on billions of rand in plant upgrades. SAB announced that it has cancelled R2.5bn in capital and infrastructure upgrades; * Choppies Enterprises exits the South African market; * Shoprite shares soar as second-half sales climbed as it gained market share with the initial strict lockdown.
4 min
2621
Inside Covid-19: "Peaked" argument gathers mome...
In episode 67 of Inside Covid-19, we take a closer look at Vitality’s successful crowdfunding approach to helping the nation fight the coronavirus; there’s a rational perspective on South Africa’s hotly debated R71bn pandemic-related loan from the IMF; we hear from the independent actuaries and professionals group PANDA on why data suggests the country is at or close to an infection peak; and if you ever wondered where that two metre social distancing rule came from, the answer’s coming up. - Alec Hogg
28 min
2622
David Shapiro: Apple conquers China; share pric...
In China, iPhone sales surged from February as the market started recovering from the supply and demand shocks caused by the onset of Covid-19. Apple sold 3.9 million iPhones in April alone, a 160% increase from March. On Friday 31 July, Apple's share price jumped up by 10% in a single day. BizNews founder Alec Hogg was joined by market commentator David Shapiro during his Rational Radio webinar and the two stock market experts discussed Apple's sudden and impressive share price increase and its continued ability to dominate the US market. - Claire Badenhorst
11 min
2623
How Tesla became the most valuable car manufact...
Tesla has captivated investors on Wall Street. It has become the most valuable auto company in the world, surpassing Toyota and claiming a market cap of over $190bn before continuing its climb. The Wall Street Journal looks at its soaring stock.
7 min
2624
Who's dying from Covid-19 and how to ensure you...
Gareth Friedlander, deputy CEO of Discovery Life, and Dr Maritha van der Walt, Discovery Life's chief medical officer, discuss which individuals are more likely to suffer severe symptoms if infected with Covid-19 and offer helpful lifestyle advice to minimise your chances of falling into this category. - Nadya Swart
17 min
2625
So you want to become a day trader? Tips on get...
The number of day traders is on the rise, with people looking for new ways to make money or take charge of their own investments. In this interview with BizNews editor Jackie Cameron, trading specialist Fred Razak of CMTrading sets out how to get started and provides pointers on how to make money in stocks, currencies, crypto currencies and more. This podcast is sponsored by CMTrading.
23 min