News 17:00

BULLETIN 5 November 5 pm

Good afternoon. I am……..

In this bulletin:

# The Acting Police minister questions Mchunu’s decision to disband the political killings task team
# The Tiffany Meek murder case is transferred to the High Court for pre-trial
# And, ArcelorMittal SA halts production at its Newcastle works

# Acting Police minister Firoz Cachalia says he could not understand why suspended minister Senzo Mchunu decided to disband the political killings task team. Cachalia told the parliamentary ad hoc committee the decision appeared to lack sound reasoning and proper consultation. He states the disbandment came amid rising political assassinations, making the move ill-timed and difficult to justify:

# The case of Gauteng woman Tiffany Meek, accused of murdering her young son, has been transferred to the High Court in Johannesburg for a pre-trial hearing on the 20th of this month. She appeared in the Roodepoort Magistrate’s Court again today on charges of murder and defeating the ends of justice. This follows after her eleven-year-old son, Jayden-Lee, was found dead at their block of flats in Fleurhof, Johannesburg, earlier this year. Meek remains in custody after being denied bail. She continues to maintain her innocence.

# ArcelorMittal South Africa has confirmed the shutdown of its Newcastle Works in KwaZulu-Natal as it proceeds with placing its long-steel business into care and maintenance. The company says limited trading will continue to dispatch remaining stock while engagements on alternative solutions are ongoing. AMSA has also applied for leave to appeal a Labour Court ruling ordering the reinstatement of retrenched workers. Shareholders are urged to exercise caution when dealing in AMSA securities.

# The Freedom Front Plus says the latest ruling by the South African Local Government Bargaining Council on salary increases for City of Tshwane employees could spell a financial disaster amounting to nearly two-billion-rand for the metro. The council has confirmed that wage increases of 3.5-percent are backdated from 1 July 2023 to 30 June 2024, the final year of the three-year collective agreement. The FF Plus’ Grandi Theunissen says political considerations, rather than financial reality, influenced this decision:

# Golf: LIV Golf is moving away from its 54-hole format and expanding to 72-hole events starting next year. Moving to four days of competition with events beginning on Thursday of tournament weeks puts the Saudi Arabia-backed league more in line with the setup of PGA Tour events. Seventy-two holes could make LIV’s re-application for its events to be allowed to award world ranking points more viable. LIV Golf CEO Scott O’Neil says this expansion strengthens the league and challenges its elite field of players.

# And the financial indicators: The dollar trades at 17-rand-43-cents and the euro at 20-rand-5-cents. One British pound costs 22-rand-75-cents and Bitcoin trades at 102-thousand-516-dollars. Gold sells at three-thousand-972-dollars-38-cents a fine ounce and Brent crude oil is quoted at 64-dollars-7-cents a barrel.

Stay tuned for more news………….