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UIF pays out R15bn to Covid-19 Temporary Relief Scheme

UIF pays out R15bn to Covid-19 Temporary Relief Scheme

The employment and labour department says the Unemployment Insurance Fund (UIF) has to date paid in excess of R15bn to beneficiaries of the company relief scheme.

Business rescue practitioners shoot down SAA plan to fly under lockdown

SA Airways' joint business rescue practitioners (BRPs) on Wednesday shot down an  "unvetted" statement issued by the airline the previous day saying it was ready to resume domestic flights from mid-June

Tiger Brands eyes 'significant' job cuts

Food producer Tiger Brands is looking to cut "significant" numbers of jobs and has scrapped its interim dividend due to supply disruptions and margin pressures linked to the coronavirus, it said on Monday.

Four tips to address black tax as finances take strain during lockdown

When we feel helpless we often stay mum because we feel we have no control, but there is always something you can do, says financial planner and columnist Zanele Kunene. 

Building a community of health care workers in rural KZN

An inspiring story of a community investing in each other to reshape the future of rural health care

Reserve Bank cuts repo rate a further 50bps to 3.75%

This was the fourth meeting of the Bank’s monetary policy committee this year, after an emergency one was held in April

Homeowner saddled with huge debt after repossessed home sold for a mere R1,000

The auctioning of a man’s house for a mere R1,000 was a “massive destruction of value” and you have to wonder how the bank could allow this to happen, says a legal expert.

‘Hot thinking’ in these uncertain times can ruin your finances

Behavioural scientists call thinking under stress “hot thinking” and it tends to lead us to react defensively. 

Medical schemes anticipate increase in mental health claims

Medical schemes are expecting a rise in mental health claims once the lockdown ends, despite a decrease in hospital admissions for these conditions in the last two months. 

R250m of Oppenheimer fund delivered to small businesses, says bank

The SA Future Trust fund, established by Nicky and Jonathan Oppenheimer, has enabled thousands of small businesses in the country to support employee wage relief.

Acsa seeks R3bn Covid-19 relief from taxpayers over next three years

Airports Company SA (Acsa) says it needs an injection of R3bn from government over the next three years, citing the impact of the Covid-19 pandemic on the air travel business.

Designer Zwelihle Kabini follows mom's footsteps

Kabini's fashion wear has modern twist

Implats temporarily suspends operations at Marula after detecting 19 Covid-19 cases

Platinum mining group Implats has temporarily suspended operations at its Marula operation in Limpopo after detecting a "cluster" of positive Covid-19 cases.

What happens to your garnishee order when you lose your job

In the event of retrenchment, understand how it might impact debt that you were paying via deductions from your salary.

Late claims shouldn't always be rejected

The Ombudsman for Short-Term Insurance looks at more than your failure to comply with the timelines specified in your policy when you lodge a claim.

Markets will ultimately recover after Covid-19 crisis

Investing when markets are low is like shopping for a bargain, says an investment analyst. 

Why market crash is good for long-term investors

The effect of some of your pension fund contributions being invested at lower prices after a market crash allows you to enjoy the good growth that comes from the recovery. 

Don’t let social distancing isolate you

SPONSORED | Tips on how to stay connected when your movement is limited

What if I’m about to retire and my savings are low?

If you are within about five years of retirement and your savings have taken a hit with the recent market falls, there are some things you need to think about.

Companies accused of withholding UIF payments to employees

Unibisco is the first company to be exposed as having allegedly failed to disburse money claimed from the Unemployment Insurance Fund Covid-19 relief fund to its employees.‚Äč Labour minister Thulas Nxesi named and shamed the biscuit manufacturer after hundreds of workers this week were up in arms after they were not paid.

South Africa suspends use of Land Bank debt as collateral after default

South Africa's central bank has temporarily prohibited the use of debt issued by the Land Bank as collateral after the state agricultural lender was downgraded deeper into junk status and missed $2.7 billion (R49.5 bln) in loan repayments.

Battling Prasa will restart only at lockdown level 3

Struggling transport utility Passenger Rail Agency of SA (Prasa) says it has lost R199m since the start of the lockdown to curb the spread of Covid-19.

UPDATE: Covid-19’s property woes subside: Sellers and agents will start seeing proceeds under level 4

The opening of the Deeds Office means homeowners who sold their homes before lockdown will be able to now receive the proceeds as those deals are processed, estate agents say.

Pharmacy group to pay R30,000 settlement for excessive markups on face masks

A pharmacy group accused of charging excessive prices for face masks and hand sanitisers at its Nelspruit and Pretoria branches has agreed to pay a R30,000 fine and make a donation to the solidarity fund for Covid-19.

SAB may dump 130m litres of beer

South African Breweries has likened provisions of the lockdown to the Prohibition in the US in the 1920s and 30s that saw criminals cash in on illicit trade and consumers exposed to hazardous brews.

Fast-food CEO and execs sacrifice pay to help workers

Hungry Lion CEO Adrian Basson is doing what he can to ensure workers are paid while off work, but his goodwill doesn't stop there.

How to cope with a cut in pay

If you’ve had to take a pay cut, you may be feeling hopeless, especially if you were living frugally before your wages or salary was slashed. But there is hope.

How businesses are re-inventing themselves in the face of Covid-19 pandemic

South Africa has entered level 4 of the Covid-19 induced national lockdown with an uncertain ending, scores of businesses from SMMEs to major corporations are gasping to catch up to the fast-paced forced evolution of the business world.

Unions don’t plan to be railroaded at Prasa talks

Bongisizwe Mpondo, administrator of the troubled Passenger Rail Agency of SA (Prasa), will meet disgruntled trade unions on Friday over the proposal to retrench workers.
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