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Old Mutual shows first signs of a struggling insurance sector

by sundelbolong | May 28, 2020 | Business & Finance News

Old Mutual says life insurance sales almost came to a standstill in its biggest business unit during the lockdown as brokers were not able to see customers. To make matters worse, some existing customers are seeking premium holidays and discount or lapsing their...

PIC may convert Eskom debt to equity

by sundelbolong | May 28, 2020 | Business & Finance News

Africa’s biggest fund manager, the Public Investment Corporation, is willing to convert more than R90 billion of Eskom’s debt into equity. The proposal has been submitted to South Africa’s National Treasury by the PIC and its main client, the Government...

Hairdressers, beauty services and tattoo parlours to remain shut under Level 3

by sundelbolong | May 28, 2020 | Business & Finance News

Personal care services such as hairdressers, beauty services and tattoo parlours will remain closed under level 3 of the national lockdown, according to new regulations.  Minister of Cooperative Governance and Traditional Affairs, Dr Nkosazana Dlamini-Zuma, gazetted...

Barloworld to implement group-wide retrenchments as coronavirus ‘severely affects’ business

by sundelbolong | May 28, 2020 | Business & Finance News

Logistics and fleet management company Barloworld [JSE:BAW] says it will implement group-wide retrenchments as it battles the economic shock of  Covid-19 on its business. In a trading update on Thursday, the group said that while austerity measures implemented earlier...

Stadio chairperson resigns with immediate effect

by sundelbolong | May 28, 2020 | Business & Finance News

Professor Rolf Heinrich Stumpf, board chairperson of Stadio [JSE:SDO], has resigned with immediate effect, the private higher education provider announced on Wednesday. Stumpf’s resignation is due to health reasons, according to a statement. The board has not...
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