Top business news: Recession, electricity hikes and credit cleansing
Fears of a full-scale recession, electricity hikes and debt forgiveness plans are some of the hot business news stories on Fin24.
Gross domestic product contracted 0.7% for the first quarter of 2017, indicating that the country has entered into a technical recession, according …Read More
WARNING: Bleak economic indicators to hit consumers hard
Cape Town – Consumers are fighting a losing battle against the rising cost of living amid a barrage of bleak economic indicators.
South Africa is in a technical recession, its unemployment rate is on a 14-year high, it has suffered junk status gradings …Read More
Debt warning: Don’t be fooled by petrol price relief
Cape Town – While motorists can expect a further drop of 60 cents in the petrol price next month, the country is still in a technical recession and the price could increase in months ahead, warned a debt expert.
The Automobile Association (AA) expects …Read More
Consumers face debt crisis as recession grips SA
Cape Town – South African consumers face a debt crisis after the country entered a technical recession in 2017, according to Debt Rescue CEO Neil Roets on Friday.
“We have been living through the recession for the past couple of months,” he said. …Read More
Govt’s debt forgiveness plan ‘dangerous’, warns CEO
Cape Town – Government’s intention to implement a debt forgiveness programme for over-indebted households poses a major threat to the financial sector, according to Neil Roets, CEO of debt management company Debt Rescue.
In a discussion document presented to Parliament, MacDonald Netshitenzhe, acting …Read More
Petrol price hike will bite consumers – economist
Cape Town – A fuel price hike in May would have an immediate impact on the prices of virtually all goods and services, said Neil Roets, CEO of debt counselling firm Debt Rescue.
The Automobile Association’s (AA) mid-month data issued on Tuesday is …Read More
Junk downgrade will hit debt-ridden consumers hard
Cape Town – The downgrade of South Africa’s sovereign debt rating to junk status by Standard and Poor’s is going to have a massive impact on deeply indebted South Africans, according to Neil Roets, CEO of debt management company Debt Rescue.
S&P downgraded …Read More
WATCH: VAT hike will shatter the poor, warns expert
Trump victory could hurt indebted SA consumers – expert
Cape Town – The surprise victory by Donald Trump in the US presidential race could have negative consequences for indebted SA consumers.
Trump’s uncertain policy stance will upset the establishment in Washington to the point that nobody knows exactly which direction he will …Read More
Petrol price pain set to squeeze consumers
Cape Town – The hike in Petrol price and diesel prices will have a major impact on consumers, who are already struggling to make ends meet, according to debt management firm Debt Rescue.
The price of both grades of petrol will increase by …Read More