Economy

Economy

No relief in sight for the prices

American inflation is skyrocketing The latest consumer price index showed a re-acceleration of inflation, dashing hopes that price increases were moderating. The government reported that consumer prices rose 8.6% in the year to May, writes Jeanna Smialek of the Times. Fed officials are looking at the signs that inflation is cooling on a monthly basis […]

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Economy

The United States eliminates Covid testing requirements for international travelers

A man checks in at a Covid-19 test site in the international arrivals area of ​​Los Angeles International Airport, California on December 22, 2021. Frederic J Brown | AFP | Getty Images The Biden administration is lifting Covid-19 testing requirements for inbound air travelers from overseas, the White House said Friday. Airlines and other members […]

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Economy

Roth IRAs for Kids: First, make that money

Susan Allen, senior manager for tax practice and ethics at the American Institute of Certified Public Accountants, said she opened a Roth at the age of 16, with encouragement from her father; she matched some of what she earned by working in retail and teaching ballet. “I have every intention of doing this with my […]

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Economy

Inflation is expected to have remained high in May as gas, rental and other prices soar.

The government is expected to report on Friday that consumer prices rose 8.2% in the year through May as inflation approaches the fastest rate in four decades. Americans are facing more expensive food, fuel and housing, and some are looking for answers as to what is causing the price hike, how long it might last, […]

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Economy

Standoff in Eskom as wage negotiations fail

Talks between Eskom and its largest wage unions have reached a standstill, the latest crisis for the utility that is struggling to increase its electricity supply. Unions “responded with dismay” after negotiations failed to reach a conclusion during Wednesday’s final round. It was then that Eskom pointed out that it was unprofitable and reiterated that […]

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Economy

How inflation has become a global problem.

The Russian invasion of Ukraine caused inflation to stubbornly take root in countries around the world. Prices rose last year in the wake of supply chain clogsclosures linked to Covid-19 and increased energy costs, problems that should have vanished in 2022. Six months ago, the Organization for Economic Co-operation and Development estimated that almost none […]

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Economy

Excessive, illegal municipal tariff, says Eskom in support of the business chambers

On Thursday, Eskom ruled in support of a pleading by the Nelson Mandela Bay and Pietermaritzburg Chambers of Commerce, aimed at ensuring that municipalities charge end users only what the law allows for electricity and nothing else. The High Court of Pretoria heard the question during a virtual hearing. The energy regulator Nersa and the […]

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Economy

New taxes needed to fund South Africa’s next NHI: the government

The government will eventually have to collect additional taxes to fund its new national health insurance scheme, says Deputy Director General of Health Nicholas Crisp. Presenting the program to parliament this week, Crisp said much of the NHI’s funding will come from the reallocation of health care funds and existing tax credits. He reiterated that […]

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Economy

Goldman Sachs, Citigroup and financial industry leaders on what markets could look like in 2052

The internet, smartphones, euros and cryptocurrencies are just some of the innovations that have revolutionized markets over the past three decades. So Bloomberg Markets asked some financial industry leaders for their best guesses as to what could drive the biggest changes between now and 2052. Their comments have been edited for length and clarity. Adena […]

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Economy

South Africa needs at least 60% of high school graduates to enter these jobs: minister

Minister of Higher Education, Science and Innovation Blade Nzimande says his department is embarking on an extensive program to train and hire more artisans in the country. Speaking at a fuel dealers event on Thursday (June 9), Nzimande said the goal is to produce 30,000 artisans in South Africa per year by 2030. “South Africa […]

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