Deloitte and Sygnia cross swords, econ data shows some green shoots, oil price pressure

[Spread Business Maverick and share the knowledge.]( [Web version here.]( [Business Maverick with Tim Cohen]( Friday, 14 June 2019 “The saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom.” Isaac Asimov ‏ Story of the Day [Deloitte firing may reveal more than Sygnia would like]( [By Sasha Planting]( It is almost two years since outspoken Sygnia CEO Magda Wierzycka fired auditor KPMG in 2017 for its role in State Capture. This earned her almost heroine-like status among some in the business community for taking a strong and courageous stand against corruption. Now the same board has fired Deloitte, arguing that engagement with the firm is ‘unsatisfactory’ and there is reputational risk associated with it. It is hard not to believe this is the case. Except that something just doesn’t feel right. [Advertisement] [A streamlined cabinet to rekindle SA’s economic prospects]( [Sponsored Content by Investec]( Ramaphosa’s consolidation of power during the recent cabinet reshuffle may not be much politically, says political analyst Dr Somadoda Fikeni, but once the various commissions of enquiry gather steam, the President will be able to build his own team. ON THE MONEY Exchange Rates R/$ = 14.88 0.08% R/€ = 16.78 0.17% R/£ = 18.86 0.07% R/BTC = 127,604 -0.31% At -+5am or latest: markets open to close Trading the Markets JSE All Share = 58,697 -0.02% Dow Jones = 26,106 0.39% Brent Crude ($/bbl) = 61.96 -0.11% Gold ($/oz) = 1,346 +0.31% WHILE YOU WERE SLEEPING [Oil's Surge after Tanker Attacks Muted by Demand Fears]( Oil’s rebound from a five-month low after tanker attacks in the Middle East was tempered by concerns over weak global demand and rising US inventories. [600 US companies urge Trump to resolve China trade dispute]( Walmart Inc, Target Corp and more than 600 other companies urged US President Donald Trump in a letter on Thursday to resolve the trade dispute with China, saying tariffs hurt American businesses and consumers. [Hottest Crypto Is Up 360% and Its Name Isn’t Bitcoin]( This year’s top-performing cryptocurrency is up more than threefold and you’ve probably never heard of it. [June 14: Five Things You Need to Know to Start Your Day]( The US blamed Iran for tanker attacks near the Persian Gulf. Asian futures are mixed following a turnaround in US stocks. And Broadcom trimmed its sales forecast, citing the US-China trade war. Here are some of the things people in markets are talking about today. We believe that our investigations and our brand of journalism should be free for all. That's why we don't have any nasty paywalls. If you value our journalism and you appreciate what Daily Maverick does, [consider becoming a Maverick Insider.]( [SA’s water: How to stop a runaway problem]( [Sponsored Content by Investec]( Water availability is one of the biggest threats facing South Africa’s people and businesses. 46% of municipalities cannot fulfil their water and waste mandate. To fix SA's water crisis- this is where we need to start. In Numbers $9.9-billion Spending on political advertisements in the US elections is projected to hit $9.9-billion in 2020, a new high. That compares to $6.3-billion in 2016, when President Trump was elected. Fact of the Day Customers who don’t bring their own bags to the East West Market in Vancouver will instead have to carry their groceries home in bags reading “Wart Ointment Wholesale” or “Into the Weird Adult Video Emporium”. David Lee Kwen, the shop’s owner, insisted that the plan wasn’t to embarrass customers. (It is.) Cartoon Friday By Rico Featured Articles [What is the value proposition of machine learning?]( [What is the value proposition of machine learning?]( By Ruan Jooste [Automation and the Fourth Industrial Revolution: A force for the liberation of workers]( [Automation and the Fourth Industrial Revolution: A force for the liberation of workers]( By Nkateko Mabasa [Some green economic shoots in April, but don’t expect Q2 to blossom as confidence remains low]( [Some green economic shoots in April, but don’t expect Q2 to blossom as confidence remains low]( By Ed Stoddard [Home is not where the heart is anymore, it is where the money is.]( [Home is not where the heart is anymore, it is where the money is.]( By Ruan Jooste Opinionistas [In praise of the whistleblower]( A column by Wayne Duvenage [Not all is rotten in the state of our SOEs]( A column by Fani Dingiswayo [OPINIONISTA: Paying for the welfare state without raising taxes]( A column by Roger Farmer [FORWARD THIS EMAIL TO A FRIEND]( [Fb]( [Tweet]( [Yt] Copyright © 2019 Daily Maverick, All rights reserved. You are receiving this mail because you are awesome and on the Business Maverick subscriber list. Interested in advertising with us? [Click here to sign the pact.]( [Getting too many emails from us? Manage your preferences]( [Unsubscribe](