business

The SA economy is expected to have contracted by 30.6% for the second quarter of the year, when lokdown was in full-force. B4SA, which represents a majority of SA businesses partnering in their response to Covid-19, has released a 12-point plan it says will accelerate economic recovery. It says the plan, together with policy interventions, could…

The Labour Appeal Court has ruled on whether it was unfair of the BRPs to propose retrenchments in the absence of a business rescue plan.The court has upheld a May judgment.Analysts have previously said this could have far-reaching implications.The Labour Appeal Court has handed down a key ruling affecting proposed retrenchments at South African Airways, dismissing…

A South African Airways aircraft on the apron of Frankfurt Airport in 2018. Silas Stein/picture alliance via Getty Images SAA business rescue practitioners have proposed a new rescue plan ahead of the creditors' vote next week. The plan proposes a better deal for employees, including financial support and training during a temporary lay-off scheme.However, the plan…

Dr. Anthony Fauci, the US's top infectious disease expert, said this week that the US is not headed in a positive direction when it comes to controlling the spread of the novel coronavirus."I think it's pretty obvious that we are not going in the right direction," Fauci, the head of the National Institute of Allergy…

An Edgars store in Johannesburg in March, 2020. 22 000 jobs are at stake if the rescue plan for Edcon does not work.Business rescue practitioners propose backdating and raising their fees from R1 750 to R4 500 per hour.SACTWU supports the rescue plan but says fees should have been clarified upfront.Fees charged by liquidators and…