This is according to Standard Bank’s first Township Informal Economy Report, which reveals that around 80% of businesses in these communities operate outside formal regulations such as tax compliance, VAT registration, and labour laws.
The report’s survey included businesses across five provinces, Gauteng, KwaZulu-Natal, Western Cape, Limpopo, and North West and covered enterprises with annual turnovers ranging from R100,000 to R50 million.
By Mthobisi Nozulela
Full story at IOL
The FTSE 100 (^FTSE) underperformed against its European peers early on Wednesday as traders digested signals from Federal Reserve chairman Jerome Powell that more interest rate cuts were on the way.
Powell left the door open to further rate cuts on Tuesday and said the end of the central bank’s long-running effort to shrink the size of its holdings may be coming into view.
He told the National Association for Business Economics annual meeting: “You’re at a place where further declines in job openings might very well show up in unemployment.
By LaToya Harding
Full story at Yahoo News
Dow Jones Industrial Average futures (YM=F) gained around 0.9%, while S&P 500 (ES=F) and Nasdaq-100 futures (NQ=F) climbed 1.3% and 1.8%, respectively.
The rebound follows Trump’s latest comments on Truth Social, where he reassured followers that relations with China "will all be fine.” The post, and subsequent comments to reporters, appeared to dial back his threat from Friday to impose an additional 100% tariff on Chinese goods from Nov. 1. The developments had reignited fears of an escalating trade war and triggered a market drop that erased roughly $2 trillion in US equity value.
By Rian Howlett
Full story at Yahoo News
The rally in the precious metal also came after concerns that a tech-fuelled rally that has sent some equity markets to record highs may have gone too far, fanning talk of an asset bubble.
Traders have been piling into gold all year, pushing it up more than 50% since the turn of the year, on the back of a range of issues including global economic uncertainty, Donald Trump's trade war and geopolitical crises.
By AFP
Full story at IOL
Speaking in Abuja, the president disclosed that the country’s Gross Domestic Product (GDP) expanded by 4.23 percent in the second quarter of 2025, Nigeria’s fastest growth rate in four years, and above the 3.4 percent projection of the International Monetary Fund. He added that inflation eased to 20.12 percent in August 2025, its lowest level in three years.
“Under our leadership, our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results,” Tinubu said.
By Mayowa Oladeji
Full story at Ripples Nigeria
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| President Trump at the White House on Tuesday. (AP Photo/Alex Brandon) ASSOCIATED PRESS |
The victory of gridlock was sealed Tuesday evening when twin Senate votes failed to advance either a Republican bill (even as three members of the Democratic caucus crossed party lines to vote yes) or a Democratic plan. No compromise plan was offered, ensuring the funding lapse.
The shutdown — the first since a seven-week stoppage during Trump's first term — began at 12:01 a.m. ET as the new fiscal year began. That last shutdown took place in 2018-19 and broke the record for the longest in American history.
By Ben Werschkul
Full story at Yahoo News
The German company also set new mid-term targets for 2028 and 20230.
Full story at Yahoo News