• Thu, March 13, 2025

by: Moneyweb

How Eskom and National Treasury saved taxpayers more than R20bn

Considering the pressure on the budget, the need to limit government borrowings, and the fact that Eskom has a big upcoming payment of R39 billion for debt maturing on 2 April 2026 and another of R10 billion in 2027/28, Eskom and National Treasury agreed that government would rather settle these two amounts and finalise the debt relief programme.

by: WFAA

Fort Worth family business faces rising costs due to steel tariffs

Justin Haas, owner of J Haas Welding and Fabrication, manages rising steel costs by stocking up and maintaining transparency with clients about tariff impacts.

by: AOL

Tech leaders at Anthropic, IBM, and Meta warn that AI is coming for software developer jobs

Tech leaders are sounding the alarm that within months, AI will be doing all new coding and programming—but there's conflict when it comes to timing and impact. Anthropic CEO Dario Amodei had a bold prediction this week that could kill thousands of jobs in software development,
  • Fri, March 14, 2025

by: BusinessGhana

Govt to overhaul VAT System by end of year - Finance Minister

The government aims to implement the VAT reforms by the end of the year, ensuring a more efficient tax system that aligns with international best practices.

by: Variety

VFX and Animation Studio Cinesite Raises $215 Million On the Heels of Technicolor Collapse

The Cinesite group, a global visual effects and animation studio collectives, has raised $215 million through a series of transactions "to support its continued operations, technological innovation and strategic expansion" during a turbulent time for the VFX industry that in recent weeks saw the collapse of VFX giant MPC and its parent company Technicolor.

by: Cryptopolitan

Crypto Analysts Believe This New Crypto Could Become Bigger Than Solana, XRP and BNB

A new crypto project is turning heads as analysts believe it could outgrow industry giants like Solana, XRP and BNB. While these established tokens dominate DeFi, trading and payments, this emerging contender is tackling real-world financial challenges in a way no other has.

by: BusinessTech

South Africa bans cannibas and hemp products, and Eskom maintenance lie

Here are five other news stories making waves in South Africa today:

by: CNN

Wall Street is turning its back on Trump and flashing an economic warning

On-again, off-again tariffs, mass government layoffs, funding cuts and immigration crackdowns have seriously spooked Wall Street, which is emphatically rejecting President Donald Trump's chaotic economic agenda.

by: Invezz

4 reasons Alibaba stock price is surging this year and what next

Alibaba stock price has bounced back this year, soaring to its highest level since November 2021. BABA rose to a high of $140 in New York, and is beating other technology companies like Amazon and Alphabet.

by: Stocktwits

Crown Castle Stock Gains Premarket After $8.5B Deal To Sell Small Cells And Fiber Solutions: Retail's Divided

Crown Castle (CCI) stock rose 3% in pre-market trade on Friday after the cell tower operator said it would sell its small cells and fiber solutions businesses for a total of $8.5 billion. The communications-focused real estate investment trust (REIT) said it would sell its small cells business to private equity firm EQT AB and its fiber solutions

by: Investopedia

Why Filing Your Taxes Early Could Save You Stress and Money

Filing your taxes early can get you your refund faster. You'll have more time to plan how you'll pay your taxes if you prepare your return before the deadline.

by: IOL

Empowering workers and SMEs: key digital inclusion strategies from the B20 Summit

Discover how the B20 summit is shaping a future-ready economy in South Africa through essential digital inclusion strategies for workers and SMEs.

by: isixsigma

TQM in the Digital Age: How AI and Automation Are Transforming Quality Management

Key Points Total Quality Management is integral for an organization to run as effectively as possible. Utilizing AI within TQM has several benefits, including enhanced data analysis. Automation will lead to a TQM process less prone to human error.

by: GOBankingRates

6 Key Signs You Need To Rethink Your Career Choice

For some, their chosen career gives them a sense of purpose and something to look forward to Monday through Friday. For others, however, it's quite the opposite. Learn More: 7 Key Signs

by: News24

New VAT-free foods: Most canned veg still excluded, but oxtail, tongue may be in

Most canned vegetables will not be included in the list of zero-rated food products, according to new VAT legislation proposed by Finance Minister Enoch Godongwana, in contrast to comments made in his budget speech this year.

by: healthday

Dr. Oz Accused of Underpaying Medicare Taxes Ahead of Nomination Hearing

Senate Democrats are raising concerns about Dr. Mehmet Oz's nomination to lead the Centers for Medicare and Medicaid

by: PCMag

'Disrupt and Leapfrog': Intel's New CEO Charts a (Risky) Comeback Strategy

Intel's new CEO, Lip-Bu Tan, indicates he wants the company to remain in the expensive foundry business, rather than spin it off.

by: WTRF

"Failing to pay employees, provide insurance, or cover taxes is simply wrong," Lawmaker vows support as Ohio hospital faces layoffs and financial struggles

Following the announcement that East Ohio Regional Hospital will begin laying off staff in "ancillary services" on Friday, a local lawmaker has pledged support for both the employees and the community.

by: TheWrap

Justine Bateman Says Trump and Musk Should Use $100 Million of DOGE Savings to Start American Film Fund

MAMGA: Make American Movies Great Again. It might not roll off the tongue as easily as MAGA, but filmmaker Justine Bateman is calling on President Trump to help make it happen. Her proposal: Take a slice of the money the president and Elon Musk are cutting from the federal bureaucracy via the Department of Government Efficiency (DOGE) and use it to finance a handful of feature films each year.

by: Fortune

Hostage training and hours of pre-trip preparation signal the terrifying new reality of traveling for work

Corporate America is worried about their executives, so companies pay millions for CEO security. But rank-and-file workers in the business world are also anxious about travel after the killing of a CEO.

by: Week99er

AI Law Firm Marketing Company FirmPilot AI Announces Appointment of Legal Technology Industry Expert Jay Greenberg to Company's Board of Directors

FirmPilot AI, the first AI law firm marketing company that analyzes competing law firms to automatically create better online marketing, has announced the appointment of legal technology industry expert Jay Greenberg,

by: MarketWatch

Banks are feeling the strain as lower-income consumers struggle with inflation and tariff chaos

JPMorgan Chase banking analyst Vivek Juneja said Friday that banks could feel the crunch from U.S. consumers — especially lower-income consumers — as the first quarter of 2025 wraps up in the next couple of weeks, while overall credit strength remains robust for the sector.

by: GOBankingRates

You Might Not Make Enough Money To Get Musk's Potential DOGE Dividend Check: Here's the Salary Cutoff

James Fishback, an investment manager who briefly worked with Vivek Ramaswamy in the earliest days of the Department of Government Efficiency (DOGE), says the idea of "DOGE dividend" payments came

by: Forbes

AI's Expanding Role In Retail And E-Commerce: Balancing Efficiency With Human Touch

Artificial intelligence (AI) is reshaping the way businesses operate in the retail and e-commerce spaces. From streamlining supply chains to enhancing customer interactions, AI is becoming a powerful tool—but like any major transformation, it comes with both opportunities and challenges.

by: Fortune

Publicis New York CEO Carla Serrano and the downside of Trump's war against all

I was talking yesterday with Carla Serrano. Along with being CEO of Publicis New York and chief strategy officer of Publicis Groupe, she is a fellow Canadian and we were commiserating about the impact of the ongoing tariff war on a personal level.

by: IOL

This is how the VAT increase will impact your transport, food and electricity bills

The recent VAT increase proposal in South Africa raises concerns about its impact on low-income households, particularly regarding essential goods and services.

by: Newsweek

Companies and Communities Feel Effects of $20B Climate Funding Freeze

"Many of them are going to go out of business," a clean-energy entrepreneur said of the companies that had been counting on the Greenhouse Gas Reduction Fund.

by: Mint

Bajaj Finserv Loan: Find the latest updates on gold loan

Access gold loan starting from Rs. 5,000 to Rs. 2 crore and benefit from quick disbursal, free insurance of gold, competitive interest rates, and more.

by: CNN

Elon Musk's Tesla says it could be targeted by retaliatory tariffs

Tesla, the electric car company run by Elon Musk, said this week that retaliatory tariffs against US manufacturers could harm its operations and that the US should carefully consider its trade policies,

by: CNN

Fear and resignation after 'world's most powerful company' pays Trump a $100 billion 'protection fee'

It was a surprise ceremony at the White House presided over by President Donald Trump to unveil a $100 billion investment from what he called the world's most powerful company, Taiwan Semiconductor Manufacturing Company (TSMC).

by: IOL

Standard Bank aims to lead Africa's energy, infrastructure development

Standard Bank Group's CEO Sim Tshabalala outlines how the bank wants to be part of the mobilisation of finance for energy and infrastructure projects in Africa, highlighting the bank's role in sustain

by: GOBankingRates

This Hack From a Career Expert Takes 5 Minutes and Could Increase Your Income (Almost) Overnight

Career hacks can boost professional growth, build strong networks and help achieve goals faster. But can they increase your income? According to Laura Mae Martin, mother of three,

by: AOL

DocuSign CEO: No signs of recession in our business

DocuSign CEO Allan Thygesen says demand remains brisk despite the stock market pullback and rising economic growth concerns.

by: Reuters

India's Wipro to redraw global business lines

Indian IT major Wipro is realigning its four global business lines from April 1 to better address client needs, the company said on Friday. This is its first rejig after CEO Srinivas Pallia took over the role in April 2024,

by: GOBankingRates

Best 3-Month CD Rates and Offers for 2025

CD is a good option if you're looking for a guaranteed rate with no risk. Find out which banks currently offer some of the best 3-month CD rates.

by: Reuters

Hong Kong's AIA misses VONB estimates, unveils $1.6 billion buyback

Hong-Kong based insurer AIA on Friday posted an 18% rise in annual value of new business (VONB) but missed estimates, while announcing a $1.6 billion share buyback that analysts said fell short of market expectations.

by: Reuters

BMW foresees earnings hit as Europe counts the early cost of tariffs

German carmaker BMW said on Friday it expected tariffs to cost it 1 billion euros this year, while European officials warned the U.S. economy would be the biggest loser if President Donald Trump pursues an "idiotic" trade war.

by: Insider

A government shutdown now seems unlikely. That's giving the stock market a much-needed boost.

Senate Minority Leader Chuck Schumer plans to support a GOP spending bill, signaling the government will avoid a shutdown. Stocks surged Friday morning.

by: Insider

Here's what could go right for stocks after a brutal tariff-fueled wipeout

There are a handful of scenarios that could get the stock market back on track as it contends with trade war uncertainty and growth worries.

by: Reuters

Wall Street slides as trade war escalates, S&P 500 confirms correction

Wall Street ended sharply lower on Thursday and the S&P 500 confirmed it is in a correction after cool inflation data was overshadowed by fears that the escalating tariff war being waged by the United States against some of its biggest trading partners could reignite inflation and tip the economy into recession.

by: Reuters

Australia's Westpac settles auto finance class action lawsuit for $81 million

Australia's Westpac Banking Corp has reached an A$130 million ($81.84 million) settlement on a class action lawsuit against the lender over commissions paid to auto dealers over five years, the bank said on Friday.

by: Insider

M&A and IPOs slump under Trump: 'It's almost as bad as Covid.'

Wall Street's hopes of a dealmaking and hiring rebound have been put on hold as companies and buyout firms wait for the dust to clear.

by: Reuters

Singapore's DBS raises $2 billion through US dollar bonds, term sheet shows

DBS Group , Southeast Asia's biggest bank, has raised $2 billion through a multi-tranche U.S. dollar senior bond issuance for general business purposes and to finance treasury activities, according to a term sheet seen by Reuters on Friday.

by: Insider

Will these new, efficient AI models send Nvidia's stock tumbling again?

New AI models from the likes of Google are showing that the technology can be run on fewer Nvidia chips. Will it cause another DeepSeek selloff?

by: Insider

2 credit cards offer up to 5% back when you buy a new house, but there's a catch

These two credit cards earn rewards for buying a home. Are they more advantageous than standard cash-back cards?

by: Insider

Dealmaking slumps over Trump's tariff turmoil. 'It's almost as bad as Covid.'

Wall Street's hopes of a dealmaking and hiring rebound have been put on hold as companies and buyout firms wait for the dust to clear.

by: Insider

I made $48,000 in profits in 4 months on Etsy. Here's how I experimented to find the right products and prices to sell.

Entrepreneur Taylor Posada scaled her new Etsy shop and made over $48,000 in four months using data from Etsy ads, sales, and listing images.

by: Insider

Life after RTO: 11 Amazon employees reflect on the highs and lows of returning to the office full time

Amazon's 5-day return-to-office mandate took effect earlier this year. Some workers applaud the RTO policy, while others say it's ruined their jobs.

How Eskom and National Treasury saved taxpayers more than R20bn

Considering the pressure on the budget, the need to limit government borrowings, and the fact that Eskom has a big upcoming payment of R39 billion for debt maturing on 2 April 2026 and another of R10 billion in 2027/28, Eskom and National Treasury agreed that government would rather settle these two amounts and finalise the debt relief programme.
The article from Moneyweb discusses how Eskom, South Africa's state-owned power utility, and the National Treasury managed to save taxpayers over R20 billion through strategic financial maneuvers. Eskom, facing significant financial distress, was granted a R254 billion debt relief package by the government in February 2023. This package included converting a portion of Eskom's debt into equity, which not only alleviated immediate financial pressure but also reduced the interest burden on taxpayers. The savings were primarily achieved by not having to pay interest on the converted debt, which would have amounted to billions in additional costs. Furthermore, the Treasury's decision to take over up to R70 billion of Eskom's debt in the 2025/26 financial year was part of a broader strategy to stabilize Eskom's finances, thereby preventing further financial strain on the national budget and ensuring continued electricity supply stability. This approach was seen as a critical step in managing Eskom's unsustainable debt levels while minimizing the fiscal impact on the state.

Read the Full Moneyweb Article at:
https://www.moneyweb.co.za/in-depth/budget/how-eskom-and-national-treasury-saved-taxpayers-more-than-r20bn/

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