News 06:00

BULLETIN 13 November 6 am

Good morning. I am……..

In this bulletin:

# The ANC adopts a case-by-case approach to coalition talks
# The Public Investment Corporation defends its support for Concor
# And rugby: Rassie’s Boks earn praise from France ahead of the Paris Test

# The ANC says it will not apply a one-size-fits-all approach to coalition negotiations following last week’s local government elections. Party spokesperson Mahlengi Bhengu says each municipality will be assessed individually, taking into account its political dynamics, the parties represented and the needs of residents. The ANC’s national executive committee met in Boksburg on Thursday to finalise a mandate for its negotiating team. More than 130 municipal councils have no outright winner, making coalition agreements necessary to establish governing administrations.

Meanwhile, ActionSA has described yesterday’s meeting between its leader Herman Mashaba and DA leader Geordin Hill-Lewis as productive, professional and mutually respectful. Parties have less than two weeks to elect mayors across municipal councils. Despite the DA being the leading party in Johannesburg and Tshwane, ActionSA national chairperson Michael Beaumont says parties are willing to back Mashaba and Nasiphi Moya as mayors of the two metros, respectively:

# The Public Investment Corporation has defended its financial support for construction company Concor, which entered business rescue last month. Concor’s board determined that the business was financially distressed and filed for business rescue. In May last year, the PIC converted about 1.18-billion-rand of the company’s shareholder debt into preference equity, making the Government Employees Pension Fund and Unemployment Insurance Fund Concor’s effective shareholders. The PIC says that, as a long-term investor, it prudently considered options to preserve jobs and value for client investments.

# The Gauteng Department of Health urges residents to take precautions against malaria, especially when travelling to high-risk areas. The province recorded 768 cases and 17 deaths between January and September this year, compared with 554 cases and six deaths during the same period last year. The department’s Steve Mabona says most of those who died had travelled to other Southern African Development Community countries, with Mozambique linked to most of the deaths: 

# Jensen Huang has resigned as chief executive of Nvidia, the world’s leading maker of artificial intelligence chips. His departure follows reports of two extramarital affairs, one involving a woman suspected by US authorities of having links to Chinese intelligence. Huang admitted to being unfaithful to his wife, but denies knowing the woman was allegedly involved in espionage. A separate reported relationship with a senior Nvidia employee added to the pressure on the 63-year-old. Chief financial officer Colette Kress has been appointed interim CEO.

# Rugby: France coach Fabien Galthie has described the Springboks as one of the best rugby teams in the world ahead of tonight’s Nations Championship Test in Paris. Galthie says the four-time world champions are effective in every area of the game, leaving opponents very little space or time to attack. He says South Africa’s physical approach also influences the tactical and technical aspects of a match. The Boks face France at the Stade de France, with kick-off at 10.10 tonight, South African time.

# And the financial indicators: The dollar trades at 16-rand-67-cents and the euro at 18-rand-43-cents. One British pound costs 22-rand-7-cents and Bitcoin trades at 71-thousand-403-dollars. Gold sells at three-thousand-876-dollars-46-cents a fine ounce and Brent crude oil is quoted at 98-dollars-15-cents a barrel.

Stay tuned for more news………….