Biznews Radio

Finance Minister Tito Mboweni's mid-term budget has been tabled in what he described as the end of winter for South Africa's economy, all eyes would be on Moody's at the end of this week to see whether he had done enough to ensure that the ratings agency does not downgrade South Africa. Reserve Bank Governor Lesetja Kganyago explained at a news conference in Cape Town what the impact of a downgrade on South Africa would be. - Linda van Tilburg

See omnystudio.com/listener for privacy information.

In today’s business headlines:

Finance Minister Tito Mboweni’s growth plan may put him on a collision course with unions, fellow Cabinet and ANC-members;

Acting SARS boss Mark Kingon says economic growth in the country is not enough to reach SARS revenue targets.;

British Prime Minister will be suspending Parliament until 14 October indicating that the UK is heading full steam for Brexit;

Motus accelerates and resource stocks surge on the JSE; and

Great Whites have disappeared from False Bay.

See omnystudio.com/listener for privacy information.

In today's business headlines

The Rand has been battered by the dollar after the US Federal Reserve Chairman Jerome Powell ruled out extending the cycle of rate cuts;

British American Tobacco shares jumped by more than 8% as smoking alternatives cushioned the decline in cigarette sales;

Woolworths has taken a new hit against its Australian arm;

Insurer Discovery is accusing Liberty of using its incentive program Vitality without permission; and

The Post Office’s CEO Mark Barnes has resigned citing differences on a forward strategy.

Boris Johnson appears poised to become Britain's new Prime Minister. The Wall Street Journal's Jason Douglas has more on what could be ahead.

See omnystudio.com/listener for privacy information.

A three foot tall stainless steel bunny called "Rabbit", one of four cast in 1986 by Jeff Koons, last month became the highest price ever received by a living artist. The other three replicas are housed in art museums in Los Angeles, Chicago and Qatar. The piece, auctioned by Christies, was knocked down for $91m to art dealer Robert Mnuchin, father of the US's Treasury Secretary Steven. The piece was sold out of the estate of Conde Nast magazine publisher SA Newhouse and reinstates Koons as the world's best highest priced living artist. He held the distinction since 2013 when his Balloon Dog sold for $58m, but that was surpassed last year when a painting by David Hockney was sold for $90.3m. In this podcast Bloomberg's Katya Kazakina reports on the auction - which also saw a new record for an impressionist painter when a work by Claude Monet fetched $110m.   

See omnystudio.com/listener for privacy information.

A three foot tall stainless steel bunny called "Rabbit", one of four cast in 1986 by Jeff Koons, last month became the highest price ever received by a living artist. The other three replicas are housed in art museums in Los Angeles, Chicago and Qatar. The piece, auctioned by Christies, was knocked down for $91m to art dealer Robert Mnuchin, father of the US's Treasury Secretary Steven. The piece was sold out of the estate of Conde Nast magazine publisher SA Newhouse and reinstates Koons as the world's best highest priced living artist. He held the distinction since 2013 when his Balloon Dog sold for $58m, but that was surpassed last year when a painting by David Hockney was sold for $90.3m. In this podcast Bloomberg's Katya Kazakina reports on the auction - which also saw a new record for an impressionist painter when a work by Claude Monet fetched $110m.

JOHANNESBURG — Vox Telecom has become a major telecommunications player in South Africa's market, offering highly competitive fixed line internet and voice services. Over the years, the company has dramatically expanded its offerings and footprint thanks to acquisitions that include its deal with fibre infrastructure provider FrogFoot. Throughout this journey, Rand Merchant Bank (RMB) Ventures has been a key shareholder in Vox and has helped to shape the telco's strategy. In this interview, the CEO of Vox, Jacques du Toit, together with Cassim Motala, explain the history of their journey together. - Gareth van Zyl

When it comes to world happiness, it probably comes as no surprise to South Africans, that we are low on the list. The latest United Nations and Gallup poll put us 106th behind other African countries like Nigeria, Algeria, Cameroon, Burundi and Benin. You would think that all that lovely sunshine and some of the most beautiful natural spots in the world, would improve our sense of happiness. Surprisingly one of the coldest, darkest countries in the world, Finland topped this year’s list. So, what would it take to increase our sense of happiness? More income, better relationships, a better government - is there a magic formula to happiness or are we just a bunch of grumpy sods at the southern tip of Africa? In a new book titled the Algebra of Happiness, Scott Galloway, Professor of Marketing at the NYU Stern School of Business, explores what could make us happy and he does not have any kind words for the social media giants and their role in the deteriorating state of mental health across the world. He speaks to Bloomberg's Carol Massar and Jason Kelly. - Linda van Tilburg

See omnystudio.com/listener for privacy information.

PRETORIA — Although the Democratic Alliance has managed to hang on to the Western Cape, their support has dipped since the 2014 elections. This raises the question whether the leadership of Mmusi Maimane could be challenged. Political analyst Theo Venter from the North West University spoke to Biznews about the DA leadership, has a look at a smaller Cabinet Ramaphosa may be looking at after the election and whether he would be able to rid the Cabinet of  members of the ANC NEC implicated in state capture. He also comments on whether the investor climate for South Africa has improved- Linda van Tilburg

See omnystudio.com/listener for privacy information.

PRETORIA - There is a deep division in the ANC between the Cyril Ramaphosa faction and the Zuptoids now led by ANC secretary-general Ace Magashule. And while the IEC was still tallying how big a win the ruling party managed to attract, ANC secretary-general Magashule arrived at the IEC nerve centre at the Pretoria show grounds to claim victory. And he did not want to give credit to Ramaphosa for the ANC's majority, a clear indication that the cracks have not been papered over. He later claimed he was quoted out of context. - Linda van Tilburg

See omnystudio.com/listener for privacy information.