Spotify Implements Major Workforce Reduction to Counter Economic Challenges

The music streaming industry has been a beacon of resilience amid various economic landscapes, with Spotify leading the pack in innovation and user engagement. However, recent challenges have prompted the company to take decisive action in the form of a substantial reduction in its workforce. This move, while surprising to some, reflects Spotify’s response to […]

A Deep Dive into the Third Quarter Setback

In a surprising turn of events, the economic landscape witnessed a contraction during the third quarter of the year, marking a departure from the promising signs observed in previous quarters. According to the latest data released by Stats SA, economic activity experienced a notable shrinkage of 0.2% over the three months ending in September. This […]

Former President Thabo Mbeki Calls for Transparency in Banking Scandal

Former South African President Thabo Mbeki has added his voice to the growing concerns surrounding allegations of price fixing and currency manipulation involving almost 30 commercial banks in South Africa. The banking scandal has recently come to light, with British multinational bank Standard Chartered fined nearly R42 million by The Competition Commission for its admitted […]

Unwrapping Deals and Discounts: Navigating the Black Friday Bonanza in the 2023 Festive Marketplace

The retail sector is bracing for a pivotal moment as the annual holiday shopping extravaganza unfolds in 2023. With the much-anticipated “Black Friday” followed closely by “Cyber Monday,” retailers are deploying an arsenal of strategies to entice consumers into festive purchases. This year, however, the landscape is tinged with economic unease, despite favorable unemployment rates. […]

Elon Musk’s X sues Media Matters over antisemitism analysis

Elon Musk’s social media platform X has sued a left-leaning pressure group that accused the site of allowing antisemitic posts next to advertising. X’s lawsuit alleges that Media Matters for America “manipulated” data in an attempt to “destroy” the platform formerly known as Twitter. Firms including Apple, Disney, IBM and Comcast have paused adverts on […]

African bank hits 4 million customers

African Bank has recorded a profit for the financial year ended September 2023 – rescuing itself from a challenging start to the year. Over the financial year, the group said that it saw a successful acquisition and integration of Grindrod Bank and Ubank assets, liabilities and operations. With the more extensive operations, the group is […]

Controversial SABC Bill takes a major step

Controversial SABC Bill takes a major step The Portfolio Committee on Communications and Digital Technologies has opened the South African Broadcasting Corporation SOC LTD Bill for public comment. The Bill broadly aims to fix the ailing public broadcaster via the following: To repeal the Broadcasting Act of 1999;   To regulate the continued existence of […]

Employees are scamming their bosses in South Africa – costing them billions

Employee fraud is costing businesses worldwide billions – including in South Africa – and some experts call the rampant theft a global financial pandemic. Speaking with eNCA, CEO of forensic investigative services company CS Forensics, Christo Snyman, said employee fraud is very likely the most common form of financial fraud in South Africa. These types of […]

Starbucks faces walkout at hundreds of US stores

The union representing thousands of Starbucks workers in the US is staging a walkout on one of the coffee chain’s busiest days of the year. The action comes amid a bitter fight between Starbucks and Starbucks Workers United, which started organising workers at the company in 2021. The two sides are fighting over pay, scheduling […]

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