News 08:00

BULLETIN 29 January 8 am

Good morning. I am……..

In this bulletin:

# Cosatu calls for a repo rate cut to ease workers’ burden
# The Joburg mayor faces another motion of no confidence today
# And, two federal agents involved in the Alex Pretti shooting are on administrative leave

# Union federation Cosatu has urged the South African Reserve Bank to cut the repo rate by at least 25 basis points. The Reserve Bank will hold its much-anticipated Monetary Policy Committee meeting today. Most forecasts project at least another 50 basis points of cuts in 2026, followed by another 25 basis points in 2027. Cosatu’s Matthew Parks says workers have struggled to cope with the rising costs of living, with electricity and transport prices far exceeding the overall inflation rate:

# The Public Servants Association is calling for a full audit of the student financial aid sector after more than two-billion-rand in National Student Financial Aid Scheme funds went unallocated or mismanaged. The Special Investigating Unit has recovered 1.7-billion-rand from universities, TVET colleges, and unqualified former students. The association’s Claude Naiker says failures by the scheme and tertiary institutions denied needy students access to funds. Naiker urges stricter oversight and accountability to prevent future mismanagement:

# Johannesburg mayor Dada Morero will face a motion of no confidence today, the third since he took over in August 2024, one failed, and another was withdrawn. The motion was proposed by Al Jama-ah, which also requested that the vote be conducted by secret ballot. This comes as the Political Management Committee, which includes parties in the government of local unity, resolved that Morero should resign. In a statement, the minority governing parties expressed serious concern over leadership paralysis and its direct impact on service delivery and institutional stability.

# The US Department of Homeland Security has placed two Border Patrol agents involved in the fatal shooting of Alex Pretti in Minneapolis on administrative leave. This comes as president Donald Trump suggested he would de-escalate his immigration enforcement crackdown in the state. The department says as part of standard protocol, federal law enforcement agents who have been involved in a shooting are placed on administrative leave during the course of the investigation into the circumstances of the incident.

# Golf: Nine-time PGA Tour winner Patrick Reed has announced his intention to return to the Tour after quitting LIV Golf. He follows his American compatriot Brooks Koepka in departing the Saudi Arabia-backed series. LIV Golf says it was unable to reach an agreement with Reed on a potential contract extension. The PGA Tour says that, given that Reed resigned his membership before violating any regulations, he would be eligible to return to competition on August 25 as a non-member. He is seeking reinstatement of his PGA Tour membership for 2027.

# And the financial indicators: The dollar trades at 15-rand-69-cents and the euro at 18-rand-79-cents. One British pound costs 21-rand-68-cents, and Bitcoin trades at 87-thousand-814-dollars. Gold sells at five-thousand-527-dollars-80-cents a fine ounce, and Brent crude oil is quoted at 67-dollars-97-cents a barrel.

Stay tuned for more news………….