BizNews Radio

After going gangbusters in July, share markets in the US (and SA) took a breather yesterday easing back a few points. On the local market, a trading update from coal producer Thungela Resources revealed a 20x jump in its profits for the six months to end June, supporting a surge from R80 to almost R300 in its share price this year. Also in this episode of the BizNews Breakfast Briefing, China is moving back onto centre stage as its Belt and Road initiative hits major obstacles with some recipients of Beijing's loans needing to expand them just to meet interest commitments.

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While the Western World celebrates July as the best month for stock markets since April 2020's Covid lockdown bounce, China is seeing ominous signs of social unrest in the wake of massive property development company defaults. Also in this episode of the BizNews Breakfast Briefing, investors jump back into crypto currencies and gold - both targeted as inflation hedges - and we have highlights from our interview with Arcelor Mittal CEO Kobus Verster which explores the steelmaker's leverage to the potential of an improved (post-2024) South African economy.

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There is no affection between Free Market Foundation president Leon Louw and those who still serve the organisation. After an emotional BizNews interview where co-founder Louw called for funders to end their association with the organisaton that he calls "my life's work", in this podcast FMF chairman Judge Rex van Schalkwyk has exercised a bruising Right of Reply. He told Alec Hogg of Biznews, that Louw has been economical with the truth, said the FMF board unanimously cut all ties with the co-founder 'with immediate effect' warns Louw he will face legal action over a public call to destroy the FMF's funding base. Van Schalkwyk does not dispute Louw's allegation that the FMF has lost its politically neutral position, but claims there are obvious reasons why this has to be the case.

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The link between depression and serotonin, that depression was caused by a chemical imbalance in the brain, was first posited in the 1960s. To this day, this hypothesis has reigned supreme as scientific fact with, perhaps, one of the most significant consequences being the widespread use of antidepressants. Earlier this month, this serotonin hypothesis of depression, which had been accepted as an unchallenged scientific construct for approximately six decades, was turned on its head by a UCL study published in the Molecular Psychiatry Journal. This study, which found no convincing evidence that depression is connected with low serotonin, let alone caused by it, has sent shock waves throughout the psychiatric community. To explore the implications of these findings, BizNews spoke to Dr Joanna Moncrieff, the principal investigator in this groundbreaking study. What followed was a fascinating discussion, the gravity of which cannot yet be quantified.

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The man at the helm of the newly established Border Management Authority (BMA), Dr Nakampe Masiapato, is under no illusion as to the challenge that awaits him in securing the 4,772km borderline of South Africa. The BMA is currently incubated within the Department of Home Affairs but will be exiting that phase by 1 April 2023 - becoming an independent entity. The BMA has a current budget of R67m allowing for the recruitment of 200 border guards as part of the first cohort. In most cases, border guards will have come from other arms of law enforcement or have a military background. Commissioner Masiapato tells BizNews their actions will be targeted around preventing illegal border crossing, stock theft, stoping the flow of illicit goods, and ultimately contributing to a safer South Africa.

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Amazon shares surged 13.5% higher in the after-market as the group's quarterly results surprised on the upside. There was a similar reaction to Apple Inc, with its share price gaining 4.5% after the official close, despite a double digit percentage drop in profit. This buoyancy came after a fourth successive rise for the Nasdaq index, which rose after the release of US data showing the world's biggest economy contracted for a second straight quarter during the three months to end June, dropping America, technically at least, into recession. That's a strange definition, however, considering the US unemployment rate for Q2 remains at a record low of 3.5%. The Rand, Gold Price and Bitcoin reacted positively to the latest data, rising strongly last night. Also in this episode of the BizNews Breakfast Briefing, Dr Ralph Mathekga explains what's behind the ANC's anti-Ramaphosa 'Taliban' faction.

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Earlier this week, Afrika Tikkun Services released a statement highlighting the severity of the mental health crisis facing South Africa’s youth. The statement indicated: “Young people are hungry for hope. They are starved for vision and a guiding hand to show them how to prosper.” In order to find out more about the distressing state of mental health in SA, BizNews spoke to Noluthando Moyana, a social worker at Afrika Tikkun Services. While the picture of dejected, dispirited youths painted by Moyana was disheartening, what resonated more was that there are institutions like Afrika Tikkun Services which takes responsibility for children as young as 3 years old in order to guide them towards a better life. Moyana also stressed the importance of going further than merely creating awareness around mental health and that conversations around the issue mean a lot.

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After enjoying a sustained run recently, steelmaker Arcelor Mittal's share price fell 12.5% on the release of interim results today. CEO Kobus Verster says the pullback was largely because of anticipation among investors that the company's turnaorund would be capped by a return to dividend payments. Verster explains in this in-depth interview that there is still repairing to be done on a balance sheet which was smashed by the Covid lockdowns. Also, with fresh investing opportunities earmarked to achieve independence in power and transport, there are other urgent calls on the company's resources. The good news in the halfyear results to end June, released today, is a continuation of the bottom line turnaround (headline earnings up 22% to R3bn; debt down 61% to R1bn) after huge challenges were overcome at the production level. Verster also shared with Biznews.com's Alec Hogg that the business is highly geared to benefit from any future improvement in the SA economy's rate of growth - something that's becoming real possibility following a probable change in government after the 2024 National Elections.

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BizNews A-Plus Show duo Alec Hogg and Michael Appel are back with episode 13 of their weekly round-up of business, investments, news and politics banter you need to know. In focus this episode: President Ramaphosa this week announced sweeping reforms to SA's energy sector; the former CEO of the IRR, Dr Frans Cronje, reflects positively on SA's future national coalition prospects come 2024; political analyst Dr Ralph Mathekga on what we should take out of the ANC's KZN conference and informal economy specialist GG Alcock on why SA's unemployment rate is far lower than the official numbers suggest. And Capital Energy Resources' Enrico Ganter discusses the potential unintended consequences of SA deregulating 93 octane petrol.

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Several organisations are warning that an application to the International Trade Administration Commission (ITAC) to impose additional duties of up to 69% on passenger, taxi, bus and truck vehicle tyres imported from China could send tyre prices skyrocketing. The application is being opposed by the Tyre Importers Association of South Africa, the National Taxi Alliance, and the Road Freight Association. BizNews spoke to Donald MacKay, founder and CEO of XA International Trade Advisors, about the background to this application and the likely impact on motorists and industries should it be granted by ITAC.

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