Eskom's rocketing labour costs, Anglo American puts out, Matjila defends AYO valuation

[Spread Business Maverick and share the knowledge.]( [Web version here.]( [Business Maverick with Tim Cohen]( Friday, 26 July 2019 “We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” Winston Churchill Story of the Day [Eskom set to post stratospheric loss as labour costs rocket]( [By Sikonathi Mantshantsha]( Next week electricity supplier Eskom will record a financial loss so high that no single public or private company has ever reported its equal in South Africa. The record loss is mostly attributable to higher labour cost. And the unions are to be blamed. [Advertisement] ON THE MARKETS Exchange Rates R/$ = 14.09 +0.18% R/£ = 15.72 +0.10% R/€ = 17.55 +0.16% R/BTC = 145,202 -0.88% At -+5am or latest: % open to close Trading the Markets JSE All Share = 57,543 -0.21% Dow Jones = 27,141 -0.47% Brent Crude ($/bbl) = 63.45 -0.13% Gold ($/oz) = 1,417.74 +0.23% WHILE YOU WERE SLEEPING [Google, Facebook Face Australian Crackdown]( Google and Facebook are facing a regulatory crackdown in Australia after an inquiry highlighted concerns about their market power and impact on the media industry, adding to a barrage of global action against the technology giants. [Companies Are Changing the Way They Trade the Yuan]( Chinese investors are taking a different approach to trade the yuan, a change strategists say is helping curtail sharp moves in the currency. [As US Debates Share Buyback Tax, India Makes It a Reality]( Politicians from both sides of the aisle in Washington are agitating for curbs on the record pace of stock buybacks planned by American companies. But agitation has turned to outright action in one of the world’s 10 biggest stock markets. [July 26: Five Things You Need to Know to Start Your Day]( Alphabet and Intel earnings cheered investors, Amazon less so. Mario Draghi says the economic outlook is getting worse. And the Hong Kong Monetary Authority gets a new face at the top. Here are some of the things people in markets are talking about today. [Adspace]( In Numbers Five-million bolívars That is what a hamburger costs in Venezuela – the equivalent of the country’s minimum monthly salary. The South American economy is in a state of hyperinflation at around 1,000,000% Fact of the Day The world's five largest companies as measured by market capitalisation are all listed in America. With the exception of Berkshire Hathaway - listed in New York - technology is the name of the game and the Nasdaq the bourse of choice. Reining market values for Apple, Google parent Alphabet, Microsoft and Facebook range between $500-billion and a $1-trillion. Cartoon Friday by Rico [Adspace]( Featured Articles [Business Maverick: The world’s biggest brewer has indigestion]( [Business Maverick: The world’s biggest brewer has indigestion]( By Sasha Planting [Dan Matjila says he was satisfied AYO Technology’s R43-a-share valuation was reasonable. Experts strongly disagree]( [Dan Matjila says he was satisfied AYO Technology’s R43-a-share valuation was reasonable. Experts strongly disagree]( By Ray Mahlaka [Anglo American shows the market the money]( [Anglo American shows the market the money]( By Ruan Jooste [Business Maverick: Blunders 149 with Vestact]( [Business Maverick: Blunders 149 with Vestact]( By Paul Theron Opinionistas [Dusting off the Border Management Authority Bill borders on mismanagement]( A column by Xolisa Phillip [OPINIONISTA: Why judges practise judicial lockjaw and avoid public extrajudicial activities]( A column by Oscar Van Heerden [Adspace]( [FORWARD THIS EMAIL TO A FRIEND]( [Fb]( [Tweet]( Copyright © 2019 Daily Maverick, All rights reserved. You are receiving this mail because you are awesome and on the Business Maverick subscriber list. [Click here]( if you are interested in advertising with us. [Getting too many emails from us? Manage your preferences]( [Unsubscribe](