News 08:00

NEWSFLASH NEWS AGENCY 14 October 8 am

Good morning. I am……..

In this bulletin:

# Moody’s has placed Transnet’s credit rating on review for a possible downgrade
# Two unions are planning to lodge a labour dispute against Prasa
# And tennis, Carlos Alcaraz suffers a defeat on his ATP Finals debut

# Ratings agency Moody’s has placed Transnet’s credit ratings on review for a downgrade as a result of the state-owned entity’s worsening financial stability. Transnet has debt maturities of about ten-billion-rand from December to March next year. These include the 4.6-billion-rand short-term bond that was rolled over by the Public Investment Corporation. Repayment is now due in March next year. Moody’s says it understands the entity is working on several new financing initiatives, but believes it will become increasingly difficult to access new financing without government support.

# The South African Transport and Allied Workers Union and the United National Transport Union plan to lodge a labour dispute against the Passenger Rail Agency of South Africa. The unions say they were ready to sign the proposed five-percent wage agreement, but Prasa made a U-turn saying it was unsure how the increase would be paid. The agency reportedly asked the unions to await feedback by mid-December. Satawu’s general secretary, Jack Mazibuko, told the SABC that they will be approaching the Commission for Conciliation, Mediation, and Arbitration:

Play sound: ENG MazibukoOnPrasa

# ActionSA in Johannesburg has welcomed the sacking of the City of Johannesburg Council Speaker Colleen Makhubele, saying she will be remembered for numerous inaccuracies and blunders in council. COPE leader Mosiuoa Lekota axed Makhubele yesterday for announcing that the party had joined a newly formed political alliance, the South African Rainbow Alliance, without his sign-off. ActionSA’s, Khomo Mashala, says the City Manager must now call an extraordinary council where a new speaker can be elected, who will abide by the Standing Council Rules:

Play sound: ENG KhomoonSpeaker

# The American human rights organisation, the Center for Constitutional Rights, on behalf of Palestinian rights groups has filed a federal lawsuit against president Joe Biden. It accuses him and his administration of allegedly failing in his duty under international and US laws to prevent Israel from committing genocide in Gaza. Secretary of State, Antony Blinken, and Defence Secretary, Lloyd Austin, are also cited in the lawsuit. The complaint alleges that Israel’s actions, including mass killings, the targeting of civilian infrastructure, and forced expulsions, amount to genocide.

# Tennis: Two-time champion Alexander Zverev of Germany defeated Spain’s Carlos Alcaraz, 6-7, 6-3, 6-4, to get off to a winning start in the Red Group at the ATP Finals in Turin, Italy. Twenty-year-old Alcaraz is making his debut at the season-ending tournament. The Red Group’s other singles match saw third seed Daniil Medvedev of Russia beat compatriot Andrey Rublev, 6-4, 6-2. Zverev says his serve helped him a lot in the match against Alcaraz:

Play sound: ENG ZverevOnMatch

# And the financial indicators: The dollar trades at 18-rand-72-cents and the euro at 20-rand-3-cents. One British pound costs 22-rand-97-cents and Bitcoin trades at 36-thousand-348-dollars-80-cents. Gold sells at one-thousand-944-dollars-48-cents a fine ounce and Brent crude oil is quoted at 82-dollars-77-cents a barrel.

Stay tuned for more news………….