News 11:00

BULLETIN 8 July 11 am

Good morning. I am……..

In this bulletin:

# President Ramaphosa says government cannot yet rule out the possibility of further load-shedding
# A broadcast union wants more accountability for a secret SABC multimillion-rand advertisement deal
# And, Boeing is going to plead guilty to conspiring to defraud the US government

# President Cyril Ramaphosa says the electricity system remains vulnerable, despite the country experiencing over 100 consecutive days without load-shedding. Eskom has attributed this improvement to its generation operational recovery plan, the stepping up of maintenance schedule, and the improvement in the performance of power stations. In his weekly newsletter, the president says the possibility of further load-shedding cannot be ruled out yet. Ramaphosa adds however that the improvement in the reliability of power supply is a boost to the national economy.

# The Communications Workers Union is calling for more heads to roll after the SABC dismissed two senior executives for their involvement in a secret multimillion-rand profit arrangement on a digital contract. Group chief operating official Ian Plaatjies and group executive for video entertainment, Merlin Naicker, were found guilty of hiding a 7.5-percent revenue share clause in a 35-million-rand contract with Discovery Digital. The union says the plundering of the SABC’s financial resources through shady contracts and unaccounted fruitless and wasteful expenditures cannot continue.

# Gauteng MEC for Finance, Lebogang Maile, has declared zero tolerance for underspending or corruption. Speaking to eNCA, Maile stressed the importance of proper tender processes, and prioritised financial support for health, education, infrastructure, housing and crime. He also confirmed the continuation of the Nasi iSpani jobs and opportunities initiative in the province:

# Boeing has agreed to plead guilty to conspiring to defraud the US government over two deadly crashes in Indonesia and Ethiopia involving its 737 Max plane. The two near-identical crashes in 2018 and 2019 led to the death of 346 passengers and crew. In 2021, prosecutors charged Boeing with one count of conspiracy to defraud regulators, alleging it had deceived the Federal Aviation Administration about its automated control system on the Max. The US Justice Department says Boeing has also agreed to pay a criminal fine.

# Golf: American Davis Thompson and Scotland’s Ewen Ferguson have secured their spot in the 152nd Open Championship at Royal Troon. Twenty-five-year-old Thompson carded a closing seven-under-par 64 to win the John Deere Classic in Illinois by four strokes. This is his maiden win on the PGA Tour. Ferguson won the BMW International Open in Munich, Germany, by two strokes. The Open begins on Thursday next week. Thompson says he is happy his hard work is finally paying off:

# And the financial indicators: The dollar trades at 18-rand-15-cents and the euro at 19-rand-66-cents. One British pound costs 23-rand-26-cents and Bitcoin trades at 55-thousand-550-dollars-39-cents. Gold sells at two-thousand-379-dollars-64-cents a fine ounce and Brent crude oil is quoted at 86-dollars-15-cents a barrel.

Stay tuned for more news………….