Fresh debate about gun control in America after a horrific mass shooting in Las Vegas. In South Africa, the countdown continues to the ANC’s elective conference in December. Read on for more:
Global News
- A gunman killed 59 people and injured 527 in Las Vegas—the biggest mass shooting in the US to date.
- Riots and police brutality follow a referendum in Catalonia about whether the wealthy province should secede from Spain. The Spanish government in Madrid cracked down on voters, claiming the referendum was illegal.
- In a tweet, Lloyd Blankfein, CEO of Goldman Sachs, hinted that the company might consider offering Bitcoin trading to clients.
- US President Donald Trump shortlisted candidates to take over from Fed Chair, Janet Yellen, as her term ends in February next year. The Senate will vote on the shortlist.
- In the US, second quarter GDP growth was up 3.1%, the highest rate in two years.
- OPEC and non-OPEC members met in Vienna to discuss further production cuts. The Russian energy minister was confident an agreement would be reached as early as December. Brent crude oil trended upwards last week, reaching its highest level in two years at US$56.8 a barrel.
Local News
- The release of the National Employment Report for the second quarter of 2017 revealed that 34 000 jobs were lost in the quarter. Low economic growth, low domestic demand, and subdued business and consumer confidence mean more job losses may follow.
- Cyril Ramaphosa’s ally, Oscar Mabuyane, was elected to lead the Eastern Cape at a chaotic ANC conference over the weekend.
- The rand was the third worst performing emerging market currency, ending the week at R13.55/$, depreciating 2.36%. The Chilean and Mexican peso were the only currencies to depreciate more.
- The JSE All Share Index fell 0.9% in September, but returned 8.9% in the quarter and has gained 12.6% in 2017.
- South Africa recorded a trade surplus of R5.9 billion in August 2017, which was better than market expectations. This is the seventh consecutive monthly trade surplus.
Dynasty News – Rand Immunisation on Retirement Funds
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