News 15:00

BULLETIN 8 June 3 pm

Good afternoon. I am……..

In this bulletin:

# Groupe Canal-Ploes loses four-billion-rand in market value over MultiChoice deal concerns 
# The Automobile Association raises concerns over safety features in Chinese vehicles sold in South Africa 
# And tennis: Chwalinksa shoots up 93 world ranking places after reaching the French Open final

# Groupe Canal-Plus has lost around four-billion-rand in market value since March, following investor concerns over its 52-billion-rand acquisition of MultiChoice. The media giant’s share price plunged by more than 32-percent after releasing its 2025 financial results, despite reporting a 28-percent increase in earnings. Analysts say intense competition from streaming platforms and sports broadcasters continues to weigh on growth prospects. Canal-Ploes recently secured a Johannesburg Stock Exchange listing as part of the conditions attached to the Competition Commission approval of its takeover of MultiChoice. 

# ActionSA is calling on the Special Investigating Unit to urgently attach the assets of former Ekurhuleni city manager Imogen Mashazi following serious corruption allegations. The party’s Tumelo Tshabalala, referencing a Sunday Times report, says public funds must be recovered and accountability enforced. She says they want payments to XET Solutions suspended pending an investigation into a disputed tender and the matter referred to the municipal Public Accounts committee:

Meanwhile, Local Government Association SALGA is calling on young South Africans to use Youth Month as a moment of action by registering to vote for November’s local government elections. SALGA Youth Commission chairperson, Lucky Sele, says they are mobilising young people to take part in the elections. He says this comes amidst growing concerns of a widening voter participation gap and a trust deficit which has seen lesser and lesser people voting:

# The Automobile Association of South Africa has raised concerns about safety standards in some Chinese vehicles sold locally. AA CEO Bobby Ramagwede questioned whether certain manufacturers were compromising on structural materials and safety features. Research shows several entry-level Chinese models sold in South Africa have fewer airbags than those sold in Australia and Europe. Ramagwede says this significantly affects crash-test performance, with some vehicles unable to score more than two stars under Global New Car Assessment Programme standards. The AA advocates for stronger vehicle safety requirements. 

# Tennis: Poland’s Maja Chwalinska shot up an incredible 93 world ranking places to 21st after reaching the final of the French Open. The 24-year-old became the first qualifier ever to play in the title match at Roland Garros. She lost in straight sets to Russian Mirra Andreeva, who improved from eighth to sixth position. Aryna Sabalenka of Belarus remains world number one, followed by Elena Rybakina of Kazakhstan and another Polish player, Iga Swiatek. Americans Jessica Pegula and Amanda Anisimova complete the top-five.

# And the financial indicators: The dollar trades at 16-rand-45-cents and the euro at 18-rand-98-cents. One British pound costs 21-rand-97-cents and Bitcoin trades at 63-thousand-549-dollars. Gold sells at four-thousand-326-dollars-65-cents a fine ounce and Brent crude oil is quoted at 93-dollars-51-cents a barrel.

Stay tuned for more news………….