35 Burst results for "Ramaphosa"
South African president appoints judge to oversee weapons-for-Russia inquiry
"The South African president Cyril ramaphosa has appointed a judge to oversee an inquiry into allegations the country supplied arms to Russia. The U.S. ambassador to South Africa claims weapons and ammunition were loaded onto a Russian flagged cargo ship that secretly docked at a naval base near Cape Town in December last year, ambassador Ruben brickett indicated that the allegations were based on U.S. intelligence and that he would bet his life on the accuracy of his claim. The container carrying ship named lady R is already under U.S. sanctions for being tied to a company that has transported weapons to aid the Russian war effort in Ukraine, South Africa has denied there was any government sanctioned deal to provide weapons to Russia, although it hasn't categorically ruled out that an unofficial transaction took place involving another entity. The South African president's office says the panel has 6 weeks to complete its investigations and another two weeks from then to provide a report to ramaphosa. I am Lawrence Brooks
"ramaphosa" Discussed on Monocle 24: The Globalist
"Interestingly, he also used that phrase to talk about the Wagner group, reflecting Russia's increasing influence across the Sahel and North Africa. So he didn't leave the Russians out of this picture of who are the colonial medalists. He very much put the Wagner group in the same category as the French forces in that regard. And of course, this journalist who has been abducted. He's revealed now that they are negotiating with the French government. Indeed, and I think that's embarrassing to Macron's government because the government have always denied that they've had these kind of background conversations, but I'll now be said, no, in fact, this is been happening since October 2021 when Dubois was kidnapped so there have been these kind of clandestine talks over the last 18 months. Let's go to South Africa now. We know that the country is in absolutely Dire Straits, particularly when it comes to electricity. And president ramaphosa on Monday May big changes to his cabinet. This has been coming for a while and I think a lot of people in South Africa are surprised it's taken ramaphosa this long to reshuffle his cabinet. If we go back to December of last year, ramaphosa won the leadership battle for the African National Congress, which clears the way for him to run for the presidency at the end of this year. It was always expected that ramaphosa would use a cabinet reshuffle to get rid of some of his internal opponents and to make sure that he kind of shores up his own power within the party, but I guess he's also trying to shore up power in another respect, which is to get the electricity grid fully functional in the country. This is, of course, a running saw in South Africa, what they call load shedding these kind of scheduled blackouts. I was just in South Africa myself about a month ago and it's the thing that almost everybody is talking about, the fact that the lights are switched off for about 12 hours every day, which is having a huge impact on the South African economy, but also on people's basic livelihoods, especially in poorer communities. So there's this big pressure on ramaphosa to do something about load shedding. So he's created a new government ministry for energy policy. He's appointed a minister basically for electricity to try to sort out this situation. So he's putting a lot of store in this reshuffle today. He thinks he can shore up his own influence within a very fractured party, but he thinks this is the key to also sorting out that the electricity problem. And any other notable changes within the cabinet. I guess the one that's hitting the headlines in the citizen and in the mail and guardian and the other South African newspapers today, is the removal of lindiwe sulu, as she's, of course, the daughter of Walter sisulu, a real ANC stalwart, a real hero of the anti apartheid struggle, but sulu had been very vocal in her opposition to ramaphosa leading up to the ANC Congress in December. She criticized him for continuing to turn a blind eye to corruption in the ANC for failing to deal with the energy crisis because of her personal history of course, gets a very high profile in South Africa anything she says really resonates and so ramaphosa has used this as a way to get rid of her and some other fairly prominent ANC stalwarts as well. So there's a real kind of clear out of his opponents going on here. Absolutely. And finally to Britain and so it's a tradition in this country when a prime minister resigns or is booted out even. They get to nominate an honest list, which means that people that they choose who've done them a great service become ladies all night or whatever the correct terminology is. Boris Johnson has put his father on the list. Just when you thought British politics couldn't get any more absurd, Johnson has gone ahead and put his 82 year old dad Stanley Johnson on the list to receive a knighthood. So hoping that he will become a sir Stanley. Whenever a former prime minister nominates these candidates, they also have to put a couple of lines in trying to explain exactly why this person should receive this honor in the case of Stanley Johnson. I think it will certainly be used to the British public that apparently he's been an Ardent environmental campaigner for 40 or 50 years. This is what Boris has said his dad is most known for and for which he should be honored. His work in trying to protect the British and the European environment. It would be fair to say that that's not the way that this news has been received across the UK in the last day or so even the daily mail this morning a very right-wing newspaper that tends to give Boris Johnson a free ride on anything that he wants to do is highly critical of this move, which they call cronyism and I think that is the right term that we're now seeing a British leaders basically give favors to their own family members. And of course, this isn't the first time that Boris has done this about four years ago when Boris was still the prime minister. He made his brother Jo Johnson a lord, so he's now appear in the House of lords. So Johnson very much has form in this kind of cronyism. And of course, he also made the Russian born billionaire newspaper proprietor evgeny lebedev a law, too. Indeed, so this is a mechanism for kind of keeping your family members in your close allies and in positions of power. It's becoming really farcical, I think, that this is a country that still has this unelected chamber where it's possible for those in power to basically cram those pews with people who are very favorable out towards them and who typically have no serious political credentials of their own. So big questions, I think about just the kind of perversity of what Johnson is doing with his dad, but the bigger question here is, really, what is this say about the state of democracy in Britain today? Yeah. Luckily, there is a committee though that there isn't an overseen committee. Indeed, so there will be some vetting here, although it has to be said that they tend to allow former prime ministers to do what they like in this respect. So that committee doesn't have a very strong track record in saying no to these kinds of decisions. So it does look quite likely that Stanley Johnson will in fact soon be sir Stanley. Her clerk, thanks very much indeed. This is the globalist. 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"ramaphosa" Discussed on THE NEWS with Anthony Davis
"Coming up on 5 minute news. Israel approved settlements without pushback from U.S.. President Biden fires architect of the capital. And South Africa declares state of disaster in wake of floods. Its Tuesday February 14. I'm Anthony Davis. The U.S. on Monday criticized new Israeli plans to build thousands of new homes for Jewish settlers in the occupied West Bank, but gave no indication it would take any action against its close Middle Eastern ally. Israeli prime minister Benjamin Netanyahu's office announced the plan saying they were in response to recent deadly Palestinian violence. It said Israel would legalize 9 settlement outposts that were built without authorization and convene a special planning committee in the coming days to approve additional settlement construction. Israel's finance minister, a hardline settler whose responsibilities also include authority over settlement construction, said some 10,000 housing units were set to be approved. Netanyahu's new government is dominated by Israeli ultra nationalists who support settlement construction and oppose Palestinian independence. The United States opposes settlement construction on occupied territories, claimed by the Palestinians. Over 700,000 Jewish Israelis now live in the West Bank and east Jerusalem, territories captured in the 1967 Middle East war and sought by the Palestinians for their future state. In Washington, Secretary of State Antony Blinken said the U.S. was deeply troubled by the Israeli decision, we strongly oppose such unilateral measures, which exacerbate tensions and undermine the prospects for a negotiated two states solution. President Joe Biden has fired embattled architect of the capital Brett blanton, who oversees the historic building that houses Congress and its expansive grounds as pressure mounted for his removal following a scathing inspector general report of personal and management lapses. The White House said on Monday that blanton's appointment was terminated. How speaker Kevin McCarthy said on Monday he'd lost confidence in blanton's ability to do the job. An inspector general report released last year found administrative ethical and policy violations by blanton, a Trump era appointee, including that he abused his government vehicle and misrepresented himself as a law enforcement official. A house hearing last week, unearthed new questions and criticisms, including that he was not at the capitol on January 6th, 2021, when it came under attack by a disgraced former president Trump's supporters, lantern came under intense criticism after the inspector general report found blanton allowed unauthorized use of his work vehicle, including by his wife and adult daughter, racking up nearly 30,000 miles, about triple the estimate for his official use. At a house hearing last week, blanton also came under fire when he testified that he was not at the capital during the January 6th attack because it was a telework day under COVID-19 protocols. He also faced fierce questions about capital tours he allowed, and sometimes conducted despite pandemic restrictions. The report also found multiple social media posts created by blanton's wife about capital tours, including one reading all patriots welcome. The report said that while the posts did not violate U.S. codes, offering private tours of the U.S. capitol creates the appearance of impropriety and using a public position for private gain, which is a violation of AOC policy. Blanton was nominated in December 2019 by Donald Trump as the 12th architect of the capital and confirmed to the post by the U.S. Senate. South African president Cyril ramaphosa has declared a national state of disaster to enable an intensive response to widespread flooding that has affected 7 of the country's 9 provinces for malunga and the eastern cape have been most affected by the floods which were brought on by heavy rainfall as a result of the la Nina weather phenomenon, according to a statement from the office of the presidency yesterday. Gauteng, kwa Zulu natal, limpopo, the northern cape and northwest, have also experienced flooding. Invoking the national disaster gives the government additional powers, including in the procurement and delivery of goods and services, and the ability to bypass restrictions under current law. The national police and defense force may be called on to help respond to the flooding the statement said, the floods have resulted in wide ranging impact from flooded homes and vehicles to the loss of basic infrastructure. Farmers expect crop and livestock losses to continue as the government's weather service forecasts that the weather pattern will remain during the early part of 2023, it said. Ramaphosa declared a national state of disaster last week over South Africa's power crisis as daily rolling power cuts are paralyzing businesses. The world weather attribution service found that climate change doubled the likelihood of similar weather events. You can subscribe to 5 minute news on YouTube with your preferred podcast app, ask your smart speaker or enable 5 minute news as your Amazon Alexa flash briefing skill. Subscribe, rate, and review online at 5 minute dot news. 5 minute news is an evergreen podcast covering politics, inequality, health and climate delivering independent, unbiased and essential world news. Daily. I'm Ken Harbaugh, host of warriors in their own words, a podcast that presents the unvarnished, unsanitized truth of what we have asked of those who defend this nation. As a country, we need these stories more than ever. Stories from Americans who have borne the battle, including 30 year old remastered interviews with veterans from World War I, recounting their time in the trenches of Europe, and with veterans from World War II, Korea, Vietnam, and from our most recent conflicts in Iraq, Afghanistan, and other battlefields, Americans may never have heard of. Here are their stories by listening to warriors in their own words wherever you find podcasts.
"ramaphosa" Discussed on Bloomberg Radio New York
"The pandemic. Is there a Brexit factor involved in all of this? According to Bloomberg economics, yes, our ink house economists have calculated that Brexit is costing the UK economy a 100 billion pounds a year. So in other words, the economy is 4% smaller than it would have been, had we not left the European Union, because even though the impact on trade isn't as bad as feared, you've got 370,000 workers from the EU missing from the labor market, so holding back growth, but also business investment lagging the G 7 average. It's about 9% of GDP in the UK compared to 13% for the wider G 7. So really, it is the elephant in the room. Lizzie, thanks very much. Our UK correspondent Lizzie Bert. Now let's go to a global news briefing with Leon garands. Stephen good morning, the U.S. has a balloon shot down last weekend was capable of collecting communication signals and was part of a Chinese spy program that spanned more than 40 countries, Bloomberg sources say U.S. officials told lawmakers a balloon had some western made components Beijing maintains it was a weather monitoring device. Now, South Africa has declared a state of disaster to the response of the ongoing electricity crisis. The president's Cyril ramaphosa said in a State of the Union address at the electricity shorted, has caused immense damage to the economy. He says he will appoint a minister to focus on boosting power supply and handling those outages, which is known as load shedding, and Mexico stunned markets by raising its key rate 50 basis points to a record 11% matching its half point hike in December and outpacing the fed, the move surprised all 24 economists surveyed by Bloomberg, who had expected the bank to slow the pace of tightening and that would be to a quarter point the board says it could deliver a smaller hike at its next meeting. Global news, 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I'm leann gerrans, and this is Bloomberg as Stephen. Leon, thank you very much. We're coming up next on Bloomberg daybreak, Europe. We're going to be breaking down those moves in the yen there 1.2% stronger against the dollar. This is after the report we've had from the nica and newspaper this morning who says the Japanese government is going to appoint kazuo ueda as the new governor of the bank of Japan. Seemingly seemingly under not very well known character, was previously at the BOJ, has been a professor in an academia for many, many years, but somebody who people are now trying
"ramaphosa" Discussed on Bloomberg Radio New York
"This is the most daybreak, but at least our tough stories this morning. The U.S. UK inversion reaches the deepest level since the 80s. The sign of a flagging confidence in the economy's ability to withstand additional rate hikes. China's consumer inflation accelerates a lunar new year demand boost following the nation's reopening from COVID zero. South Africa declares a state of disaster over the ongoing electricity crisis. President sir ramaphosa says the shortage has caused immense damage to the economy. At first we dummy bank says it is not evaluating a possible offer for steinach charter. I don't have to share a sword following a Bloomberg report that the UA lender once pressing ahead with a potential offer. She's got an idea across the other time use of gaming and Dubai. And it's really right alongside you were just showing that standard chartered prices as a Bloomberg scoop from yesterday. The standard charter were, sorry, FAB were potentially interested in still going ahead with another bit after the regulatory time frame lapses. That take two story ramp the stock yesterday. We've had the FAB, I suppose, push back this morning. They are not weighing a bid according to FAB. They're reiterating. It's not a value in a possible bid for standard charter, according to a filing in the Hong Kong exchange. Yeah, with agreement of the board of the third party announces a firm intention to make an offer if the company announces a rule 9 wave of proposal if there is a material change of circumstances. So a set of paragraphs that have been submitted here, you have to feel a little bit for FAB and for standard charter because this is such a comprehensive effort in terms of the regulatory filings that we need to come from this. Indeed, I'm getting regulatory clearance in the UK could be the biggest hurdle of all. And of course, it is about not just building a national champion, but indeed a global champion. That's perhaps what my badla, one of the biggest shareholders wants to achieve. To the stock markets, yousef. We talked about the yield curve being the most inverted since the 1980s. There's nothing new there. But there is this gorging of options for higher prices in the bond market. That is knocking the stock confidence. You've got buyers fatigue. By the way, you've got barking again, the Richmond fed president saying there's a way to go lift tank by 30% last night. Alphabet two days of where a $170 billion was wiped off alphabet so tech is under pressure. Why is Tesla a 104%? Let me show you a little gift a little gift in the price of a Tesla car at Tesla absolutely banging it away from the start of the by the way, buybacks, buybacks of the world unite, a $132 billion in January. It's been one of the best starts to the year ever in the United States and likewise in Europe, 30 billion bucks. To the rest of the markets use of let's have a look at the rad. We've got this state of emergency being declared a state of disaster. Extraordinary circumstances calling for extraordinary measures. Now, the Rand is typically that valve release in the EM currency basket. But here you are not just dealing with fat hikes, potentially more fat hikes, growth being obliterated down to .3% and the foreign flows from the equity market are starting. The brand is under pressure as this state of disaster is declared. And of course, we will have more on that story through the morning. Yeah, the Rand having notoriety among FX traders in terms of how difficult it is to predict. I want to switch gears to the bond markets here, minus because we saw that big move in U.S. two year yield, specifically around four 48, 62, the most by, well, in quite some time, actually. And I also refer you to the long end of the curve where we're seeing the 30 year getting quite a bit of rejection from investors, GTP go for our clients. I want to get to this chart to just highlight the scale of the move in the two year and specifically the spread to the 30 year what you're seeing here is that the yields have moved above ten years by the most since the early 1980s and the two year exceeded the ten year as much as 86 basis points. BMO asset management believes that one percentage point is actually in reach. The two year rose by 8 basis points and exceeded 4.5% for the first time since November 30. I want to flip to the energy equation, talk about a new note on from Goldman Sachs in the last 30 minutes. They're saying the 2023 demand supply balance is going to be software. So they're cutting their forecasts for this year. And at the same time, I also looking at outrage is better a little bit, 7000 contracts of July 2023, $100 call spreads, and that means you've got option traders betting that Brent crude prices are going to rise above a $100 a barrel by as soon as late May man. Yeah, well, they are the Uber bulls and they're just nudging that price target done by 5 bucks is it a little bit of a crack in the wall on the big Goldman's call on oil. Let's get into these markets of on man is standing by in Hong Kong. Ivan, I mean, what a pretty volatile 5 days from a Danny Barnes to standard chartered. Good morning. Good morning. Yeah, you following the standard charter from the Middle East perspective and certainly that is lifting the stock today for Stan sharp, but certainly may clamp down some of the speculation out there. But overall, it's really that yield curve inversion that really is weighing on these risk assets here in the region. We're down for another day when it comes to stocks here in Asia. To see 1% losses in Jakarta, air in Hong Kong is all you mentioned in the U.S. tech name selling off H is really leading that charge lower here today as well. With the exception of Malaysia, only seen some signs of green in the back of that GDP data as well. The dollar is stronger, so ethics is selling off. You have commodities on offer, so are bonds here. So it is a sea of red still to wrap up the trading week here. On the back of what I think is quite a bit of a mind shift when it comes to the fed outlook from investors here, especially when it comes to the equity investors out there. But take a look at what it comes to Donnie as you mentioned. It really has been this whole MSCI developments here in the last couple of hours where we've been tracking there's been a little confusion and then we get a little bit more clarity from funds here. So basically I'm a CI, is now said that they have reduced the number of stocks
"ramaphosa" Discussed on Bloomberg Radio New York
"That one for you. That's our chief Europe economist Jamie rush and markets had a de van der waal. Thank you both so much for joining us. Now, let's go to James wolcott with our top stories. Good morning, Lizzie. The global economy is forecast to grow at one of the slowest rates since the early 90s next year, with GDP set to rise by a meager 2.4%. Bloomberg economics base case for sees a recession in Europe at the start of 2023, with the U.S. following suit was the end of the year. The detailed report from our economics team also warned that China could become an inflation wildcard as the country emerges from COVID zero. Here in the UK, the government is said to be in the planning to announce measures this Friday aimed at boosting growth in the City of London. Sources tell Bloomberg the treasury plans to sweep away unnecessary regulations on financial services in a bid to secure new post Brexit opportunities and boost competitiveness to policies floated so far are the repeal of the bank of bonus cap and adjustments to the ring fencing regime. And South Africa's governing ANC party says it will tell its lawmakers to reject an independent panel's report that president Cyril ramaphosa may be guilty of violating the constitution. Lawyers for the president are preparing a court challenge against the report that said there may be grounds for his impeachment over the handling of allegedly stolen money. A spokesman says ramaphosa will not quit and will seek a second term as party leader. Global news, 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than a 120 countries. I'm James Wilcox. This is Bloomberg. Thanks, James. Still ahead on Bloomberg daybreak Europe, Rishi sunak's dropped plans to impose monetary house building targets on local councils in a major climb down in the face of a brewing rebellion by conservative members of parliament will be breaking down what that means after the break with our political editor kitty Donaldson very, very embarrassing for the prime minister Tom. This was Rishi sunak's first big standoff with rebel Tories and he's lost and it doesn't look good when you add it on to the mountain of other niggles in riches and the points of the challenges around actually having a growth agenda from this government when the backbench is
"ramaphosa" Discussed on Bloomberg Radio New York
"With our top stories. Lizzie, good morning to you and thank you. The global economy is forecast to grow one of its slowest rates since the early 90s next year was GDP set to rise by a meager 2.4%, the base case from Bloomberg economics four C's a recession in Europe at the start of 2023 with the U.S. following suit towards the end of the year. Now the UK is said to be planning to announce measures as Friday aimed at boosting growth in the City of London, sources tell Bloomberg the treasury will sweep away unnecessary unnecessary regulations on financial services in a bid to secure new post Brexit opportunities on also boost competitiveness. Two policies floated so far are the repeal of the bank a bonus cap and adjustments to the ring fencing regime, and South Africa's governing ANC says it will tell lawmakers to reject an independent panel's report that president Cyril ramaphosa may be guilty of violating the constitution, lawyers, for the president, are preparing a court challenge against a report that said there may be grounds for his impeachment over the handling of allegedly stolen money, a spokesman says ramaphosa will not quit and will seek a second term as the party leader. Global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I'm Leanne gorons, this is Bloomberg, Steven. Leon, thank you so much coming up next on Bloomberg daybreak, Europe more on the discussions
"ramaphosa" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Europe. We recognize China poses a systemic challenge to our values and interests. All the dependency on commodities from authoritarian machines like Russia makes possible vulnerable. The European Union and the United Kingdom are still members of the same extended family, even if we no longer live in the same house. Bloomberg daybreak Europe on Bloomberg radio. And it's 8 30 a.m. in London, 9 30 in Paris, I'm Lizzie burden, and I'm Caroline Herbert, you're listening to blue bag day break Europe. Let's check the markets as we do for you every 15 minutes here on Bloomberg radio stocks in Europe in the red at the end of the week as we await that U.S. jobs report at one 30 p.m. London time Euro stick talks 50 down four tenths of a percent, the stock 600 down 5 tenths of a percent, the cat carand, also down 5 tenths of a percent, the Dax, down three tenths of a percent and the FTSE 100 down 6 tenths of a percent. It's the same story for futures on Wall Street, the S&P S&P E minis down to tenths of a percent and you're seeing a pause in the Asian rally as well. The MSCI Asia Pacific index down 6 tenths of a percent. The dollar sell off continues, the Bloomberg dollar spot index down one tenth of a percent, the greenback sitting near multi month lows, but perhaps not for long, BNY Mellon investment management's layout Lakota told us earlier she expects the dollar will stay strong in the longer term. That's your latest in markets. Now let's get to our top stories outflows from Credit Suisse have all but stopped according to the bank's chairman, but retaining staff continues to be a challenge that has to be watched closely. Speaking to Putin begs far seen lacquer in an exclusive interview, Credit Suisse chair axel layman says he's aware of the pressure on the bank's staff. It is obviously a challenge now we have so many people 50,000. I think they are very much on the pressure, very committed. We have still excellent people and the good thing we continue to attract entire, I think, very, very strong caliber individuals with it's something to watch closely clearly. Credit Suisse chairman axel laemen speaking to Bloomberg as the bank announced that it will cut at least a third of its headcount in debt sales globally as part of a sweeping overhaul, Bloomberg understands the brunt of the cuts will be in Europe and Credit Suisse planning to slash 2700 jobs this year 9000 by the end of 2025. And the fed has more work to do in tightening monetary policy according to the Central Bank's vice chair for supervision, Michael Barr, speaking at an event hosted by the American enterprise institute, he had this to say. It's just that as we get closer to a rate that we believe is sufficiently restrictive, we have the ability to do that at a pace that is somewhat slower than we doing the past. The past rate increases have been really quite unprecedented in size and in speed. And now we're at a point since I believe we're in restrictive territory that we can get to a sufficiently restrictive rate at a slower pace. That was Michael Barr, who also stressed that any slowdown in the pace of rate increases should not be mistaken for any slackening in the Central Bank's resolve to bring price pressures to heal, while for one Central Bank to another the ECB president Christine Lagarde says that inflation expectations need to remain anchored and that the public needs to know that price gains will be brought back to target. We need to signal to the public to the observers to the commentators that in all scenarios, inflation will return to our medium term target in a timely manner. Christine Lagarde, speaking at a conference in Bangkok, all eyes are on the final ECB meeting of the year in nearly two weeks time, officials will decide whether to deliver a third, 75 basis point rate hike in a row. And calls are mounting for South African president Cyril ramaphosa to resign. That's after an advisory panel revealed he may have broken anti corruption laws in connection with the alleged theft of a huge sum of money. But the fury made a rail more than just the presidency. The fate of the government's reform agenda also hangs in the balance. Ramaphosa has denied wrongdoing and a spokesman spokesman says he's consulting on how to respond to the report. Okay. So that, in terms of our top stories, but there are lots of things to think about this Friday. Let's get to blue bags Leigh Anne Garret says the details highly Anne. Caroline, good morning to you and happy Friday, so what are we looking out for at 10 a.m. UK time we'll have the Euro area PPI reading for October followed at one 30 p.m. will have plenty of data out of the U.S., including the eagerly awaited November jobs report later today the ECB vice president Lewis de gun dos speaks at an event which is happening in Madrid and also later Chicago fed president Charles Evans speaks out a couple of events which are going on in Chicago and football is back in focus as England face the African champion Senegal in the World Cup in the knockout round on Sunday evening and I'll leave you all with this little thought for Friday little thought of wisdom maybe. England have never lost against an African side in their World Cup history. I did ask people to tweet me if they felt they had better things to say, but no one has, so there we are. I'm sticking with that one. Okay, so the good stuff thanks for watching. All right, now time for the London rush where we make a moment to highlight some UK businesses making announcements in London, joining us in the studio is Bloomberg's breaking news at a certain Charles capel, who I'm reliably informed. Used to have his family used to have a business making Christmas lights. Yes, that is right. Yeah, we used to make Christmas lights. So Christmas has always been a very big time of the year. Sadly, that was sold a few years ago. But still, I make an extra effort to make a House seat of twinkle, lovely. I have used to literally glow in the street. You can see it from Mars off. Right, speaking of lights, airplane lights. Will they be flashing for Ryanair? That was a good segue. Well done. So Europe's largest discount carrier. They've reported their passenger growth for November, so their passengers were up 10% year on year to 11.2 million passengers. It is worth noting that around this time last year, we were starting to get concerns about omicron. We were starting to see things perhaps slowing down a little bit there. And also November is a bit of a low period, but I will be very interested next month or at least the 1st of January or early January to see how they performed in December, especially with this crucial Christmas period. People traveling to come home or go home for the festive period. Okay, yeah, that'll be interesting then. Also, GSK, cancer drug, phase three goals. There's been quite a lot of actually a big news out of the pharma industry that really has, yeah, there's been a huge amount of recently and this latest one which is jump early in its phase three trials, which is the most important trials. These are the ones that really find out if the drug can work as it is hoped to. Now they have met their key endpoint and that endpoint was statistically significant and clinically meaningful improvements in progression free survival for the cancer that it was treating. They're going to now go through to the next stage of regulatory submissions. It is, as always, up to regulators to approve these drugs. So I'm sure we will hear more about that in the next half of the year. And Aberdeen and John Lewis agreeing a 500 million pound rental property partnership. Yeah, exactly. This is probably my story for the morning. We had loads of fun on the desk, talking about where we where we might live in the John Lewis or waitrose saw. You love waitress. You can't get you can't get any better than they're essentials hums, but. I think the fruit and veg aisle is probably the most wholesome place to live and then maybe never live in the wild. Anyway, Aberdeen and John Lewis, they have this 500 million pound joint venture that they've started and they plan to develop a thousand stores in the South of England. Now what they'll be doing is in I think it's Bromley and west ealing, they'll be taking waitrose stores, building flats, presumably above them. Yes, having improved shops downstairs. Now this isn't necessarily a new idea. Somebody once said to me that supermarkets are essentially property companies with stores attached and we have for the
"ramaphosa" Discussed on Bloomberg Radio New York
"Is Bloomberg daybreak Europe. We recognize China poses a systemic challenge to our values and interests. All the dependency on commodities from open payment machines like Russia makes us vulnerable. The European Union and the United Kingdom are still a members of the same extended family, even if we no longer live in the same house. Bloomberg daybreak, Europe, on Bloomberg radio. And at 6 30 a.m. in London, I'm Lizzie burden. And I'm Caroline happier. You're listening to blue big daybreak Europe. Let's check the markets for you as we do every 15 minutes here on Bloomberg radio. We're seeing U.S. and European stock futures falling along with Asian equities, traders, of course, waiting for the U.S. jobs report at one 30 p.m. London time for clues as to the feds next step. So Ian S&P E minis down nearly two tenths of a percent. Euro stocks 50 futures down two tenths of a percent the MSCI Asia Pacific now down 8 tenths of a percent. You're also seeing the dollars recent sell off pausing the Bloomberg dollar spot index pretty much flat and the pound trading down one tenth of a percent against the dollar. In commodities, oil set for a weekly gain with China further easing its COVID restrictions and gold down two tenths of a percent. That's your latest in markets. Now let's get to the stories driving those moves. Okay, so the fed has more work to do in tightening monetary policy, according to the Central Bank's vice chair for supervision, Michael Barr, speaking at an event hosted by the American enterprise institute, he had this to say on the matter. It's just that as we get closer to a rate that we believe is sufficiently restrictive, we have the ability to do that at a pace that is somewhat slower than we doing the past, but the past rate increases have been really quite unprecedented in size and in speed. And now we're at a point since I believe we're in restrictive territory that we can get to a sufficiently restrictive rate at a slower pace. The fed's Michael bar that he also stressed, though, that any slowdown in the pace of rate increases should not be mistaken for any slackening in the Central Bank's resolve to bring price pressures to heal. Sticking with monetary policy, European Central Bank president Christine Lagarde says inflation expectations need to remain anchored and that the public needs to know price gains will be brought back to target. We need to signal to the public to the observers to the commentators that in all scenarios, inflation will return to our medium term target in a timely manner. Christine Lagarde, at a conference in Bangkok there, all eyes are on the final ECB meetings of the year in nearly two weeks, officials will decide whether to deliver a third straight 75 basis point hike. And now to corporate banking, Credit Suisse is cutting at least a third of its headcount in debt sales globally as part of a sweeping overhaul of its business, Bloomberg understands that the brunt of the cuts will be in Europe overall Credit Suisse plans to slash 2700 jobs this year and 9000 by the end of 2025, the news comes as the banks stock moved closer to the price the lender is pitching to investors for rights for its rights offer, the job in shareholder value increases the risk that the banks underwriting the deal are left holding unwanted shares. And calls a mounting for South African president Cyril ramaphosa to resign. That's after an advisory panel revealed he may have broken anti corruption laws in connection with the alleged theft of a huge sum of money, but the furore may derail more than just the presidency. The fate of the government's reform agenda also hangs in the balance, ramaphosa has denied wrongdoing, a spokesman says he's consulting on how to respond to the report. Okay, there's a few of our top stories. Let's get the look ahead then what we should be watching out for today has been basically had Garrett's. Yes, indeed, Caroline good morning to you, so at 7 15 a.m. UK time Axl Lehman, the Credit Suisse chair is talking to us Bloomberg exclusively will not us. She's talking to francine lacquer. So we'll be watching out for that. Then at 10 a.m. UK time, we'll have the Euro area PPI reading for October, followed at one 30 p.m.. We'll have plenty of data out of the U.S., including the eagerly awaited November jobs report and later today the ECB vice president Louis de guindos speaks at an event which is happening in Madrid. Also later, Chicago fed president Charles Evans he speaks at a couple of events which are taking place in Chicago and football is really back in focus as England faced the African champion cynical in the World Cup in the knockout round on a Sunday evening and I just want to leave everyone with this little thaw in case you're thinking of putting a prediction down or anything like that. England have actually never lost to an African side in their World Cup history. So lots of people are getting very excited. Leon there's a first time for everything. Always. Always the first time. Yeah, guys, thank you so much for our look ahead this morning. Okay, now the future for Chinese assets looks markedly better than two months ago, but as we head into the weekend further challenges to China's zero COVID policy could derail the feel good factor. Joining us now from Hong Kong is Rebecca Chung Wilkins Bloomberg's Asia government and politics correspondent Rebecca, you've got an incredible story on the terminal this morning about how fast the news of the protests spread on social media, how the tone quickly changed from anti COVID to anti G faster than China's centers could quash it. But now the government's making sure that it keeps the upper hand. At this point, who's leading the protests and how are they being organized? Well, what we've seen from the protests is that they've so far been rather spontaneous, sporadic and episodic. So they've sort of bubbled up in a lot of major cities really across China and mainly they have been sort of among well educated urban residents with some focus on universities. But then we've also seen sort of small pockets, for example, in Guangzhou, where migrant workers have been resisting some of the very strict COVID zero lockdowns. And again, the motivations also are quite diverse. So migrant work has sort of protesting the immediate effects of being locked down unable to travel to see their family. Whereas the sort of cause associated with universities have been much more political and we've seen those very rare sort of calling out of seeds and ping and the party and criticizing the party directly. There aren't really signs so far that we're seeing a widespread more coherent movement spreading, but in some ways that also has sort of given protesters a little bit of cover because there's no obvious sort of target leader, for example. Yes. So diffuse. But how heavy handed is the state reaction? It's been relatively heavy handed so far in terms of presence, so we've really had very robust police presence out every single day since the weekend, particularly in those major cities Beijing, Shanghai, universities, students in those cities as well, have been encouraged very strongly to return home. One thing we are still watching for, though, is to see if there is any impact from the death of former leader Jiang Zemin. There has been a sort of outpouring of nostalgia for the
"ramaphosa" Discussed on Bloomberg Radio New York
"Could be reserved. And by the way, how much is because of technology because people can live in places now and zoom in. Right. Well, we are a very significant investor in rural infrastructure and communications in particular. So the ability to have effective high quality broadband Internet access across rural America is one of only one of a handful of very, very important attributes that rural communities have or need, I should say, to be able to attract people who otherwise used to be living in urban environments. And we've seen through legislation and just through these changes that were caused by the pandemic and people's desire to work remotely and changes in the labor force and so forth, a dramatic change. And it's our, it's our view, though it's quite preliminary in terms of this change, it's our hope and our expectation that this will be somewhat structural. But it will be unevenly distributed across the country based on the ability of regional economies and local economies to create an established the attributes to attract people from urban places who have high expectations for healthcare, education, broadband connectivity, and the like. So Tom overall, I would say this is a pretty positive report card on the agricultural business, but more broadly on the rural economy. So let me ask a negative question, which is what's the biggest risk as you look out there? Well, we're in a really, really interesting new era, right? We have the worst war in 80 years, we tried to have some inflation in a modest amount over the last 25 years. Now we have inflation in spades and we can't we can't get rid of it fast enough. So there are variety of different risks that we face. There's not one overarching risk. And so I think we're going to be working through the inflation problem. We're going to be working through the interest rate cycle and we're going to be working through the commodity price cycle. And all of those things will manifest an attribute, but we go through that over the next one, two, three years from a position of absolute and relative strength, as you say. Well, it's nice to have a good report card like that. Thank you so much, Tom. Always great to have you with us as Tom. Halvorsen, he's Kobe president and CEO. Coming up, we're going to take a look at the crisis facing president ramaphosa in South Africa. And this is balance of power. I'm Bloomberg television and on radio. Carol messer. This stock has shot up big time. Jim Stevens. So take us into the economic impact of this. Along with reporters and editors who help make your business week profitable. Let's dig into it with Bloomberg business week editor Joe Weber. It's the cover story of the upcoming issue, Bloomberg, business week. We did afternoons at two eastern. These are retailers that have been on everybody's radar. Those Apple numbers continuing to come in. On Bloomberg radio, the Bloomberg business app and Bloomberg radio dot com. What is dedication? My daughter is biological and my son is adopted. I love them both so much from the morning when you wake up to putting them to bed at night and every moment in between. I think my parents job is to
"ramaphosa" Discussed on Bloomberg Radio New York
"We had in treasuries yesterday on the back of Jerome Powell's speech on the currency markets we are seeing further weakness in the dollar today. It's down half a percent on the Bloomberg dollar spot index, the Japanese yen one and a half percent stronger. As we are seeing further weakness in the dollar today, it's down half a percent on the Bloomberg dollar spot index, the Japanese yen one and a half percent stronger on the spot index, there are a 136 the dollar is where that's trading against the Euro, which is almost half a percent stronger against the dollar one O four 52 is where that's trading the pound. A third of 1% stronger on cable one 21 is where that's moving this morning as well. Commodity price is pretty stable today. We're seeing oil trading just above $80 a barrel and WTI that's down a third of 1% Brent crude is trading at $86 and 74 cents and as we continue to get the more details on what happened around the collapse of FTX after Sam bankman fried's comments to the DealBook kaya conference has to buy The New York Times Bitcoin trading stable today, but it is back up over $17,100 this morning. We're hearing earlier from our crypto report, that's also part of the trade around Jerome Powell's speech yesterday on interest rate trajectories. That is your Bloomberg radio business flash, now who's Leanne guerin's with our top stories. Steven, good morning to you. Fed chair Jerome Powell says a Central Bank may slow its rate hike pace as soon as it's a December meeting in a speech at the brookings institute pal said the timing is less significant than how high rates need to go and how long policy needs to stay at a restricted level, the comments likely cement expectations for a 50 basis point hike at the December meeting. Now in South Africa, a parliament approved panel has found their grounds to investigate president Cyril ramaphosa in connection with the scandal over a robbery at his game farm, ramaphosa's job could ultimately be at risk over the alleged cover up with lawmakers scheduled to debate the report's findings next week. The president has reiterated his denial of any wrongdoing and sources say the EU is discussing capping the price of Russian crude oil at $60 a barrel to secure an agreement among the blocks wider membership. EU talks on the level at which the cap of Russian oil had been struck since last week, it's not clear whether all nations are open to the price level, but most are if other demands are indeed met, discussions are ongoing. Global news, 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries, and Leigh Anne gorons, this is Bloomberg, Charlie. Thank you, Anne. Well, look, nationwide house price data show a larger than expected drop in home prices in November, with a fall of 1.4% month on month. The figures come after data from the Bank of England earlier this week showed a 10% drop in mortgage approvals in October, our UK correspondent Lizzie Burton joins us now for more Lizzie so great to have you here in studio. Can you walk us through the latest data on the UK housing market? Well, all the latest data point in exactly the same direction, a house price correction is underway in the UK. You mentioned the nationwide survey ignoring COVID, you've got to go back to the financial crisis for a drop this bad. This is an eye watering drop 4.4% economists had expected 5.8% in October. It was 7.2%, and then if you go back to Tuesday's data from the Bank of England, UK mortgage approvals fell to the lowest since the early stage of the pandemic, and on Monday we had data from zoopla the property portal, showing that the gap between agreed prices and asking prices is at its widest since January 2021. So what's happening, stepping back, we've had a mini boom driven by the stamp duty cut pandemic savings and a race for space because people have been working from home, but now you've got this perfect storm brewing. The rapid rise in interest in mortgage rates, especially after Liz truss's mini budget, a cost of living crisis and rising taxes. But while other asset classes like equities and bonds have repriced quickly to this new global rate interest rate environment, we're only just starting to see that in house price values. Okay, so given that trajectory Lizzy, how bad could this crisis get? Well, the office for budget responsibility says that it reckons home values are going to fall 9% over the next two years, but there are lots of different factors that could cushion the blow. The number of homes with fixed rate mortgages is far lower now than it was in the financial crisis. The bottom third of household, the people who were hardest hit by the cost of living crisis, they only hold about 5% of mortgage debt in the UK. We've got a very well capitalized banking sector as the Bank of England governor Andrew Bailey likes to remind us all. And there is a chance in this recession which the bank says has already begun that we don't actually see a big job shakeout, although what we can learn from one of the longest deepest house price crashes of the last 100 years, the 1950s, is that you don't really need a spike in unemployment to make house prices fall. That is pretty depressing to hear. Looking more broadly away from housing into the larger economy. What is the implication here for this kind of these dark clouds over the housing sector? Well, I think if you look back to history, what you can see is if you look at the past big four house price corrections, it takes an average of 8 years for house prices to recover. But it's really tied into, as I say, the level of people's taxes, the level of inflation, the amount of unemployment that happens in a recession. And so we are about to enter into a bleak period, but it could take about 8 8 years for house prices to get back to the previous level. Charlie will be okay for you though because I've seen you in a video recently living on a houseboat. Yes, that's right. I was looking at people who, you know, this is sort of a perennial London story with so much interesting architecture here in the nation's capital. Some people have actually decided that they want to live on houseboats on the Thames. You can actually get better deals per square foot on a houseboat than you can in a flat. The funny thing here though is when I asked one real estate agent who the typical demographic for a houseboat resident might be, he said there were two types that he generally sort of sees, it's young people who might have a deposit for a flat, but maybe they're sort of priced out of a certain area of central London and also divorcees. So how does encrusted? Hipsters and I will use your word crusties. But fascinating. I think a lot of changes in the housing sector with the apologies to our residents. To this morning's program, Lizzie birth and thank you so much for taking us through the details of that latest number from nationwide on house prices, giving us another, I suppose, gloomy outlook for what's going to be happening to the property sector here in the UK. Coming up next on Bloomberg daybreak, Europe will be delving into the latest comments from Sam bankman freed
"ramaphosa" Discussed on Bloomberg Radio New York
"This is balance of power on Bloomberg television and radio I'm David Westin For Bloomberg first word news we go now to Mark crompton David thank you President Biden is deploying the military to hospitals in New York New Jersey and four other states that are facing coronavirus surges The doctors nurses and others will be used to ease pressures on overwhelm health centers since Thanksgiving more than 350 military medical staff have been working in civilian hospitals Russia views talks this week with the U.S. and NATO as unsuccessful but a spokesman says the Kremlin will continue them if the west is ready to seriously discuss its security demands The U.S. has said that Moscow must decide if it wants to deescalate its activities and resolve a standoff over Ukraine Some capital cities in Europe have lost their fight for tougher clean air rules European Union's top court says the legislation was too lax to effectively cut pollution and overturned an earlier decision for the cities of Brussels Madrid and Paris European Commission has been cracking down on EU nations over dirty air for years A campaign to remove South African president Cyril ramaphosa as head of the ruling party has begun A faction of the African National Congress loyal to former president Jacob Zuma opposes rabbit post his attempts to implement political and economic reforms and to crack down on corruption party members will vote on senior leadership in December Prima posta became South African president in 2018 when the ANC ordered president Zuma to step down Global news 24 hours a day on air down Bloomberg quick take powered by more than 2700 journalists and analysts and over 120 countries I'm more crumpton This is Bloomberg David Thank you so much Mark Fed.
"ramaphosa" Discussed on Bloomberg Radio New York
"Now with the latest news from New York City and around the world here's Jon Tucker Thanks Elise Then we're getting more information on the Alma cron variant just how effective current vaccines are against the new strain Initial data out of South Africa appears less than encouraging a two shot course of Pfizer's vaccine may have around 23% efficacy against symptomatic infection with the ombre variant That's according to lab experiments in that country We're also learning that president of South Africa has contracted COVID President Cyril ramaphosa tested positive over the weekend in the receiving treatment for mild symptoms In the UK Boris Johnson warning of a COVID emergency this morning the prime minister confirmed one person has died from the omicron variant of COVID-19 in the UK It addressed to the nation last night the prime minister set an end of year deadline for the country's booster vaccination program No one should be in any died There is a tidal wave of omicron coming And I'm afraid it is now clear that two doses of vaccine are simply not enough to give the level of protection we all need Prime minister Boris Johnson says the number of daily omicron cases almost doubled on Sunday Dozens of people and several Kentucky counties are believed to have died in weekend storms Kentucky was the worst hit state by far in an unusual December swarm of twisters across the Midwest and the south that leveled entire communities had left at least 14 people dead in four other states And security firms say hackers have begun exploiting a critical flaw in software used by businesses and governments around the world The flaws in a widely used programming tool that's maintained by the nonprofit Apache software foundation the vulnerability is considered so serious and time sensitive that government agencies from Switzerland to the United States and Australia have been urging companies to quickly install patches to the software Reliant for the Bloomberg interactive broker studios this is global news 24 hours a day on air.
South African President Cyril Ramaphosa Calls for Reverse of Joe Biden's Travel Ban
"At the Cyril ramaphosa Have you ever heard of Cyril ramaphosa mister producer How about mister coal screener He's very busy While he's the prisoner of South Africa today and he's ticked off Joe Biden picked 8 African countries 8 African country A black country is essentially To put a travel man out there and is no doubt I didn't hear anything Every talk show host in America On TV and raiders pointed that out to you Now if Joe Biden were Donald Trump you know that they'd be calling him a racist and here's the thing Joe Biden actually has a racist history That's right he was a segregationist He threw in with the too Mississippi former plantation honors He likes to talk about Charlottesville Charlottesville is nothing to do with race when it came to tromp All I know the lib media the Democrats their little websites get all worked up about it but the fact is the president did not support the clan or neo Nazis None of them It's a horrible death that took place there as well But here he is Cut 13 go We call upon these countries that have imposed travel bans On our country and our other southern African sister countries To immediately and urgently reverse their decisions Now these restrictions are completely unjustified And unfairly discriminate against our country and our southern African sister
"ramaphosa" Discussed on WBUR
"Held protests over the years. At one point directing them at former President Jacob Zuma. Here they are singing. Zuma must go girl stuff myself. Do my mind stuff is accused of presiding over a decade of corruption through his friends, The Gupta family. They all denied any wrongdoing. There's a new president now in Cyril Ramaphosa. But the looting has not stopped. Experts tell me this shows how deeply rooted the problem is and how wide the network runs. But what is life like for whistleblowers in South Africa? What happens to those who dare to speak out? Whistleblowers have not had The great time in our country, they have been subjected to enormous pressure. And I regret that In many instances, we have not treated them well. That was President Ramaphosa during his evidence at the State capture commission earlier this year. It's an investigation that looking into alleged corruption by some in his government. Accused of working closely with the private sector and for whistleblowers like Mozilla experience described by President Ramaphosa is once she knows too well. Their motors operandi was just Then grabbed her. And smear her name, but she was an executive director at Gupta lent advisory firm Trillion at the time. The company was used to siphon millions of dollars from state companies, often through phony invoices. You know, I'm naively thought that the report will come out the state of capture report. And people be convicted and go to jail. And within a couple of months I would find work and life will just continue as normal. No, I was unemployed for two years. So that's the price. Although some legislation exists to protect people like Marcello from losing their jobs, its critics argue it is not far reaching enough and that is part of the problem. There are many people who have done the brave thing, but you know, they ultimately ended up being the victims. That was Lawson Naidoo is the executive secretary at the Council for the Advancement of the South African Constitution. It's an independent civil society organization. Helping to fight corruption. We desperately need a dedicated independent body that can provide support, counselling and so on to whistleblowers. Earlier, Sela told me of how she fears for her safety. This is not unjustified. At least 858 corruption related murders occurred between 2015 and 2020, according to officials. There is some kind of witness protection program. But after years of seeing state orchestrated corruption experts tell me very few people are willing to entrust their lives to this system, and many whistleblowers are continuing to face death threats even when they've been assigned protection. I asked the national Prosecuting authority if the government is failing whistleblowers, This is an actor's voice reading out their written statement. The witness protection program of the N P. A is hugely successful, and there has been no need identified to enhance it in any way. Joining the program means leaving everything behind family personal freedom. It even means a change of identity. And some say this is too big a sacrifice. But what does the government do about these people? We can't protect them. We do advise on steps they can take to protect themselves. The MPA can provide limited protection in suitable cases. As for Marcello, she is trying to rebuild. I was hospitalized. After a mental breakdown, so it's I don't think I'll ever be the same, but it's a process. My life. We'll be fine. I've done my part and I have no regrets. This country is worth it for me. Doing it for you. Southern Africa Correspondent official only looking at the cost of speaking out in South Africa. Now. Tanzanian campaigners are calling on parliament to amend laws concerning parental leave for families with premature babies. They suggest parents should have six months leave, as opposed to three months. Currently, the person behind this campaign is Doris Moral, a humanitarian and advocate for newborn babies, and she joins us Now. Welcome to the program. Doris. Why do you think parental leave should be longer for people with premature babies? Thank you very much. Well, and I don't know. I think parents would premature babies deserved. A better chance to support their parrot. I mean, not as different as parental leave is something that is very keen to save a premature baby. Parents need enough time to support their own babies because most of parents who gave us two born too soon. Babies end up staying hospitals more than three months a minimum of one month and because of the complications of the want two sons, those premature babies They really need a special I from their parents. So our our NGO focuses on advocating for the born too soon, life improvement through the parental leave low extension because we believe if parents have a better time than they're able to support their born too soon. In a better way. So that question of six months. Is that is that invocation to look into supporting these parents to get a better chance to support to save their baby's life. There's a very good example of, uh Of a mother who will give birth to a premature baby. And this mother lost her baby because she had to Gave a baby to a nurse to take care of her what she had to go back to work simply because the baby was born with 400 G and, uh, she stayed in hospital for more than three months. And our employees needed her back. So we suggested to the government if we cannot have six months can we at least be the counted as a full term born at the nine month so for example, if I have a premature baby who I delivered six months? Can you count it? Can you count my leave from nine months? So unless I can have the two months at least I can have the three months or at least I can have the one month if I give the eighth month of my pregnancy, So that's what we give it to the members of Parliament. We're hopeful that we'll be able to extend this parental leave to support this parents. Premature babies in our level in our agenda of Creating family friendly policies to support this family. Okay, So you mess with MPs on Sunday. What was their response so far? Was it positive? It was very positive. Actually, they speak of the United Republic of Tanzania honorable job doing. I launched their premature baby agenda that focuses on this key areas. The parental leave and also requesting the health insurance is to incorporate medical bills in the maternity package. Because, as of now it's only two medical companies, medical health health company, medical insurance companies, incorporating the premature medical bills, and also as well as to incorporate the prematurity knowledge in science and biology subjects in reproduction topics. So among these three Wow, the parental leave law got.
"ramaphosa" Discussed on WBUR
"Rights was the arrests and the trailing of the former president, Jacob Zuma. But I have to say that the issue is deeper than that, because because young people are in a desperate situation, the unemployed and they are facing tough economic situation. Would you say that the challenges that the South African economy is feeling at the moment? Are across the country, they across the whole country and to be frank with you. The most impacted very much people who are in rural areas because that's where you have less opportunities. And with Covid 19 things became much worse. I was speaking to pour pour tells me That she's got a degree in social works. She's almost 25 years old. She has a nine month old child. She's willing to do any job. Is this a typical example of a young South African or does it get worse represents the majority of the people are unemployed in the country, at least 70% Of unemployed people. It's young people in this country. They are the most impacted and they are the most impacted because of the lack of economic reforms. Reforms that will basically relax the labor markets because there has been much complaints and stuff for over the past is that our labor market is very rigid. What does that mean for people looking for jobs? What that means is that because of the regulatory environment, right, it's not an environment that has allowed Business is to make it easy for them to hire people to operate. What is the government in South Africa? And Cyril Ramaphosa missing so long as the labor market is very much.
"ramaphosa" Discussed on Full Games - Charlando sobre videojuegos
"Almost the commissioners commission community now into vida forty list cut into pulled. I is the focus for case but does not similarly. What about bucket we to show up at all off. Righty them did. He goes camogli stabbing out that e muda would that i mean don't look in the other that'll get implemented commute do hereby come all the way up there videotape young the liberty giancarlo. And it's still a video couple open media. Once he got ramaphosa author. Logan memento carpool shuttle or moist tho those videos delicacy bell. Jonathan throw me another diplomat documents. Dunkeld this often. Don't ella really further but you the economic do the. She's my youth today. Domino's mass e mathias talked with unusual. You got about thirty eight thirty dollars to get a few hundred our winters. Macaroni start to gaza. Give me a couple of is that they've been the chat tunnel but out of alameda win momento but look anymore because he had your little cartel nothing beautiful little room into directive. You're not very much anthony meal. She added on a mccormick. You know would that but what. Walk running media come out of the or the immediate she's e lady No no we that they do some yoga geico but know by looking it. Ice cream sadler. Tin yet thought was kind of the economic people. Is it no no no no no whom by her. No no no. No i can talk to you. Some those christian yelich wrote little ian hristo fellow..
"ramaphosa" Discussed on Pod Save the World
"This is gonna be with us for. Yeah you mentioned this. Ramaphosa call the unrest a coordinated effort to sabotage the economy essentially stage a coup To your broader point about zuma in the anc. I mean the the anc is political parties. Been in power since nineteen ninety-four basically no real Opposition corruptions gotten worse. Inequalities gotten worse. And it's just i. It's hard to tell exactly where the tipping point was from sort of like political allies staging something to create unrest to broader thing that incumbents Basically was two of the nine provinces in south africa were basically just destroyed. I mean they account for nearly fifty percent of gdp. So it's a really big deal. Yeah and i mean the anc issued. More broadly i mean everybody remembers the heroic history of the anc in nelson mandela's leadership mundell himself stepping down instead of trying to stay in power forever like a lot of people in the world. Do but it's gotten progressively worse up through zuma where yuck when you have one party system that opens up a lot of doors for potential corruption and guys like zuma kind of traded on the legitimacy of their history as part of that struggle tragically to just kind of enrich themselves and hopefully ramaphosa. He seems to be A more on the level character but There's just a competitive. Political environment would be healthy there So that there isn't this kind of sense of impunity. Yeah that is trying to do much reading on this opening like from jacobin on the left. And then i clicked on a fox news story. It was laura ingraham and talking to lara logan. Who's a correspondent who i believe. South african lara. Logan tried to blame what was happening. South africa on critical race theory woke ideology in tech companies. And then she goes and obama's former ambassador to south africa. Patrick gaspard now. Works for george soros. It was like hawks fever. Yeah they just saw like video of violence or unrest and they decided. Let's take this and make it about the united states. Try to scare old white people once again discussed. That's really dark. That's that's your first reaction lincoln because none of that is connected to what's happening critical race theory fuck talking. Yeah i mean just shows you wha- images of black and brown people in the streets. It doesn't matter where they are whether the united states during around the road. Let's just play those and play the greatest hits right. We'll go after george soros. You know we'll go after obama somehow y- cap. Were patrick gaspard. What else insane. Yeah the dlc. Let's throw some more in there Disgusting okay. We'll keep an eye on that story But let's talk about spying for profit. So they're a bunch of blockbuster reports this week. There's an israeli company called the nfl group that has been leasing military grade surveillance technology to governments. And they've been using it to hack phones belonging to journalists human rights activists in even to women who are close to jamal kashogi. The saudi journalists. Who was murdered by the saudi government. this comes. This report is like seventeen. News outlets in a french nonprofit called forbidden stories. Who got all this information and put it out and it's worth reading these reports in full because the post and others are just like cranking out riessen reams of stories but a couple of things. I took away one. The software is being used against private citizens. The claim by the company that against terrorists onset notable to those of us who iphones. You ain't safe They're generally considered more secure. But this software could gain access to everything on an iphone. Emails calls passwords location data. Pictures straight bad news badges three victims like sometimes when people are victims of fishing attack. You think oh you. How do you click on that right. In this case you don't have to click on a link. They can just text you something. You might never know about it. You can be infected not do anything. So it's like everyone could be a victim so again lots of the story. But here's some things that really bug me ben So the ns group was founded by former israeli intelligence. And goons right. They worked for their version of the nsa doing signals intelligence. The israeli government reportedly signs off on all their licenses so in hungary gets a license. He's really government signs off on this. The us subsidizes the entire enterprise. Right we give three billion dollars a year in military aid to israel And help prop up the israeli defence industry the iron dome missile defense system. Good purchase this very bad purchase. And so here's my problem. Like the net effect here. Is that tyrants. Like viktor orban. The authoritarian leader of hungary who've written about a lot can spy journalists did the the indian government can spy on activists maybe like. I don't know that to be the case. That's not in our interest rate in so like their concerns about this software company aren't new I am sure listeners are probably this thinking. Hey you guys worked for like the. Us government the government. Spies on more people than anyone else. You're fulla shit your hypocrites you know what fine but like a bunch of companies selling spyware for profit is a very slippery slope to me and i'm just wondering what did you make these reports and do you think that we're gonna pressure these really government to say shut this down. Well i yeah. I mean i couple thoughts on this in one is to play back the tape right and and i do. I talk about this a lot. And after the fall I learned that. I was spied on by black cube in you know so block you a bunch of former massad guys and they also had spied on. Harvey weinstein's accusers right So you have massad is kind of the. Cia and nsa. It's like these guys. Just leave and set up private shop yet And what was interesting working book. When i went to hungary. Two of the people. I met with in hungary Had a connection to being spied on by block. You sean letter. One of the main characters and hungary his cousin have been spot on by block. You've worked for marta. Povey another person whose organization was spied on by black cube. I and then i talked navalny and he'd been spot on by black you and there is like the international community of people if you're if you're an ngo activist or former official like me or any corruption percent or what. Have you like something you know. We should just expect that. An autocrat or an oligarch paying like a bunch of former massad guys to buy on you or intimidate you survey and it led me to come investigate more this question of this private intelligence industry. Where any autocrat or any oligarch associated seated with an autocrat can go kind of one. Stop shopping for disinformation campaign to dig up dirt on someone to survey someone tried to entrap somebody. The person in hungary Who had actually been caught in this black cube scheme where they went to them and they they they got him describe this in the book they they got him on tape saying that he was lobbying. The european union to be tougher on orban's government. Which of course he was. He's an joe activist. But this appears in the jerusalem post of all places. That's where it's leaked right before. The hungarian election is proof of like a conspiracy by hungarian. And joe's to overthrow or bonn right. So that leads me to my second point which is again like people may add us..
South Africa to Impose New Restrictions as Cases Surge
"Battling a fast increasing. Surge of covid nineteen cases south africa has reintroduced tough restrictions including a ban on alcohol sales and an extended nightly curfew. The delta variant i discovered in india appears to be driving. South africa's new increase. President cyril ramaphosa said on sunday night announcing the return to strict measures south africa recorded more than fifteen thousand new cases on sunday including one hundred and twenty. Two deaths bringing its total fatalities to near sixty thousand. Go tang the country's most populous province which includes the largest city johannesburg and the capital pretoria had the brunt of the current surge accounting for about sixty six percent of new infections health. Authorities are concerned that the country's eight other provinces likely to soon see spikes in cases to match those in go tang well. Hospitals are running short of covid nineteen beds and patients being taken to health facilities in other provinces neighboring zimbabwe namibia and mozambique also fighting growing numbers of cases hospitalizations and deaths south africa's vaccination rate is slowly picking up speed by sunday. Two point seven million people had received at least one jab more than nine hundred and fifty thousand of south africa's one point two five million healthcare workers have been vaccinated said ramaphosa as a new surge of the disease. Sweeps across africa's fifty four countries about one percent of the continents. One point three billion people have received at least one vaccine dose according to the africa centers for disease control prevention. South africa's rampant corruption has also become a factor as the health minister has stepped down because of reports his family members benefited from inflated payments on contracts related to covid nineteen.
Third Time's the Harm: Africa's Crippling COVID-19 Wave
"Night. South africa's president cyril ramaphosa announced new restrictions for the next two weeks after the country recorded nearly fifteen thousand new covid. Nineteen cases on saturday will be in place from nine pm to four. Am and all non essential establishment needs to close by eighteen. South africa isn't alone. The whole continent is suffering from a devastating resurgence of covid nineteen. The world's organization is warning africa not to get complacent in the fight against covid with in the last three weeks. The number of new daily cases in uganda has increased dramatically the africa. Cdc is concerned about the cases being reported in kenya. if you're and sudan at least nineteen other countries are in the middle of a third wave and their health systems are overwhelmed in countries. Such as namibia. Uganda and zambia. Oxygen is running out. Hospital beds are full and with vaccines in short supply. There's no easy way out. In early months of the pandemic it was common to hear. The africa somehow been spared the worst of covid nineteen. John mcdermott is the economists chief. Africa correspondent and is based in south africa. People speculated about whether that might be due to the consumer demographics its history of dealing with this infectious disease or something else entirely such as underlying immunity however. The premise was always shaky. We always knew fought in little about what was really going on on the continent and it looks increasingly shaky now that africa is in the middle of a particularly grim third wave.
South Africa Tightens Restrictions to Fight Resurgent Virus
"Vaccine against the beater variant, first identified in South Africa. The less good news is that covid infections in South Africa. Are again going up, leading to President Cyril Ramaphosa announcing new restrictions. Focus is on limiting social contacts while preserving The economy and preserving livelihoods. The peak of this third wave looks set to be higher than the previous two waves. The first wave. If we recall lasted 15 weeks, the second wave lasted Nearly nine weeks. We don't know how long this one will last. But indications are that it could last longer. Well, let's talk to me in Milan, editor of of Chief of Becky sees a center for health journalism in South Africa Welcome to news Day Quite an alarming comment there from Cyril Ramaphosa. Tell us what is going on with this third wave. Yes, our third wave. As a president said. It looks like it will be worse than both our 1st and 2nd waves. At the moment, it's largely concentrated in how thing which is the province way most of the business and happen in South Africa. It's where Johannesburg is situated. About 60% of infections have new infections happen in Johannesburg and in helping at the moment and because the, um the pandemic is starting to move so fast, and we now have restrictions like our president mentioned and it's quite strict. It's all gatherings have been banned since last night. So it started this morning. Restaurants are no longer allowed to save sit down bills, and we have a curfew from nine o'clock in the evenings to four o'clock in the mornings, and importantly and schools will close. By the end of this week. All schools need to be closed and the sale of alcohol has been prohibited. This is the third time that we have an alcohol sales spin. South Africa is a country with a very strong drinking culture. And when hospitals get overloaded, and we bend the sale of alcohol, and it reduces the number of drama related cases in hospitals to open updates for covert. The other, really bad thing that happened is that we have the delta very in now, that seems to be spreading
South Africa records more than 20,000 new Covid-19 cases for second straight day
"For the first time. South Africa has recorded more than 20,000 new cases of the coronavirus in a single day. The Health Ministry says it's due to receive a million vaccine doses from India this month. Non some Maseko reports from Johannesburg. South Africa recorded the deadliest day with more than 840 coronavirus related fatalities yesterday. This comes off the back of an urgent meeting called by President Cyril Ramaphosa to look into the possibility off even tougher lockdown measures to prevent the spread of coronavirus in Africa's worst hit country. But legal challenges to prevent the government from imposing is stricter lockdown have been filed in various courts and you variant, which was identified by scientists in South Africa and formally announced by the government late last month. Is thought to be driving the new wave of infections.
"ramaphosa" Discussed on 860AM The Answer
"States. South Africa reaches a grim milestone, the highest single day death toll in new cases of Corona virus as it wrestles with an aggressive new strain of the virus recorded the deadliest day with more than 840 coronavirus related fatalities yesterday. This comes off the back of an urgent meeting called by President Cyril Ramaphosa to look into the possibility off even tougher lockdown measures. South African Breweries has said it would challenge the constitutionality off the total ban of alcohol, which the government argued trauma cases fueled by alcohol. We're putting pressure on hospitals already dealing with a high number of covert 19 related admission, the BBC's Nomsa Machiko, the Israeli military, seven internal investigation of sound soldiers had acted in self Defense, drawing an incident last week in the West Bank in which your Palestinian man was shot and was left paralyzed. News and analysis. Town hall dot com. Stuck in Travis. We've got the answer, This'll reported. Sponsored by Wendy's breakfast. Bacon ater updated details for a minor injury accident in San Matteo North. Wanna One After Hillsdale Turns out it is a solo accident. No big break involved, but it is blocking at least part of the roadway trafficking, Meantime, backed up for Austin and looks like the Hillsdale offering has been reopened. New problem, though in San Francisco East 80 at the one of one interchange stalled vehicle blocking the right lane. So far, no other details. CHP on the way also getting reports of a possible accident. Right there. Eastbound 80 around seventh, maybe the same incident. No confirmation, but watch out for delays. That's traffic. I'm Paul Maxwell. Any time of the day is bacon ater Time Bacon eight in the A. M with the Wendy's breakfast, Bacon ater? Yep. All that bacon you crave with a fresh, cracked egg. Try when this.
South African President Cyril Ramaphosa pushes for inclusive economic recovery at G20 summit
"The pandemic on the agenda on day one of the G 20 summit held virtually South Africa's president Cyril Ramaphosa in the mist of the pandemic. Ministry better rising global infections. We must look towards an inclusive economic recovery. Where no country is left
Italian island runs out of room to quarantine new migrants
"South Africa has surpassed half a million confirmed coronavirus cases the fifth highest number in the world South Africa has tallied more than fifty percent of all reported coronavirus infections in Africa although the case fatality rate is at one point six percent significantly lower than the global average south Africa's hospitals have been stretched to the limit but in most provinces they are succeeding in providing treatment to patients president Cyril Ramaphosa says he sees promising signs the rapid growth of cases has stabilized I'm Sarah buses
South Africa hits 500,000 infections but president hopeful
"South Africa has surpassed half a million confirmed coronavirus cases the fifth highest number in the world South Africa has tallied more than fifty percent of all reported coronavirus infections in Africa although the case fatality rate is at one point six percent significantly lower than the global average south Africa's hospitals have been stretched to the limit but in most provinces they are succeeding in providing treatment to patients president Cyril Ramaphosa says he sees promising signs the rapid growth of cases has stabilized I'm Sarah buses
Qatar makes COVID-19 app mandatory
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Signs From North Korea Only Raise More Questions About Absent Kim Jong Un
"Enormous speculation as to the well-being otherwise if the North Korean leader Kim Jong Un. He's not been seen in public for over a fortnight missing key public events. Initially reports carried by daily N Que a media outlet run largely by North Korean. Defectors said that he might be dead or critically. Ill later reporting that. He'd undergone treatment for cardiovascular complications other stories circulating in the media said a heart operation had been botched by nervous surgeon with shaking hands. Now we know Kim is morbidly obese. He's reportedly a heavy smoker and drinker may be diabetic and suffers from hypertension. Both his father and his grandfather died from cardio related ailments. North Korea has been utterly silent on the subject but if he is dead will destabilize the state and who would take over John? Everard is the former British government. Signed Busta to Pyongyang. He's on the line. John Lovely to speak to you again. Is He alive or dead? I'm pretty sure he's alive. Not least because two days ago he sent a congratulatory message to President Ramaphosa of South Africa. Now I suppose it's possible that these messages are being sent out on his behalf but even though he's passed away but I don't think so that's simply not the way the North Koreans do things. But he certainly not around. The last confirmed sighting of Kim. Jong UN was on eleven April at which point he looked. Fine I mean he was hosting a his chairing a politburo meeting and he didn't look any worse than he normally does. But then the big shock. He failed to appear on Fifteenth April. The birthday of his grandfather and founding Kimmel soon every year. There's a big ceremony where the royal family all troop off to Kimmel. Psalms mausoleum to pay their respects not to do so is simply unthinkable surprised foreign observers and north. Korean draws must have dropped I mean the last time he disappeared for review for a substantial time if he had six weeks later walking with a cane apparently due to surgery on his ankle. Do you think we should assume that? This is health related He's not just having a luxury lockdown somewhere. I don't think we kind of humorous health related as you sit in your introduction there have been reports that He underwent heart surgery. That didn't go well. But the sourcing of those reports is really very wobbly. Indeed and it's quite possible that there simply wrong all do. Nathanson is that he hasn't been seen he failed to appear. added grandfather's birthday. But he's still messages. Is He. Sick it is. It's possible but if if so why then didn't he send a flower basket to his grandfather was in? Which is what you always do in North Korea in these circumstances also if he is sick what has happened to his younger sister. Kim Yo John. She didn't show up either. In fact she to US disappeared. So what a body victim has taken them both out. I think it's possible that the problem is not medical but political. Iggy means some kind of fracture within the regime. Yes that somebody has decided that it's time for a not exactly a soft coup but four. Kim's on to be removed from the immediate levers of power so he keeps his titles in the official reports of the messages that he has been sending out to vice presidents he's given orders full titles we continues to rain but we don't know whether he continues to rule and of course the South Koreans are saying they think he's in one sandwiches a port and seaside resort on the east of North Korea. What's he doing there? Wouldn't make sense if it's a medical problem because spills somewhere it would make sense if he's been arrested or is just in lockdown like the rest of the world why though e- during the worst of the pandemic he continued his normal activities and was photographed chiefly hugging people. Not a social distancing there now The pandemic and China is receding North Korea is claiming no cases. Why would you want to go into self-isolation matter? It doesn't make sense so John I mean I was going to ask you about who the possible people to take over from him. Off is being the obvious contender but this is. This is astonishing news that perhaps a soft coup has happened. What would that mean for the country? We don't know a lot of because if it has happened and we're we're we're we're we don't know this we're all guessing we don't know who has let it. It might be hard line as what it might be liberals They're all factions of in both directions at the royal court and of course a North Korean aunt saying anything at all I could easily produce a a list of possible. North Korean candidates who might be leading government for you but frankly it wouldn't be worth much so I mean we had. Obviously we thought that this the ruling would stay within the family. It is after all the world's only communist monarchy rarely could go to someone outside the family and if that is the case one name that seems to being bandied about is Tahoe's a North Korean defector. He's part of the the government in South Korea. He does seem to be readying himself for the challenge. I think if they were a unification of the two careers. Tim Ho Foolish not though. He's a buddy of mine so I'm biased. But he would probably play a significant role in this. I'm not sure that he would be offered or would see a leadership role.
South African President Unveils Historic Coronavirus Economic Stimulus
"And south Africa's put together a twenty six billion dollar package to offset the fallout from the pandemic impacts might come in says the country plans to finance it through existing budgets and funding from multilateral institutions minimal funds are likely to be kept from private galas the V. to keeping costs down according to Trudi Makhaya president Cyril Ramaphosa's economic adviser the support measures include ten point five billion dollars with guarantees for banks to encourage them to lend that would require immediate financing in Cape Town my code Bloomberg
How Alan AI Gives Enterprise Apps a Voice
"Today my guess is is James Shelburne. The senior product manager for Allen the platform that makes it easy to add context based conversational voice assistance to your application welcomed James. Thanks for being here. Thank you for having me Jerry. Happy to be here. So let's start off with the history of this company. The founders and the company name Allen. Come from a very interesting place. Can you tell us a little bit more about it. Yes so our company is named after Alan Turing. He's the famous computer. Scientists who deciphered be `nigma machine in World War Two you know helped get victory for the allies and he asks the question can machines think and so we're kind of rephrasing phrasing not into Kenya application thing and that's the whole premise. Alan in adding intelligence to existing applications with voice so our founders founders are Ramaphosa Kara and Andre Riot and Ramu previously. You know his Oracle veteran you are on the parallel survey were there and he founded Dan. The company quick which was the first version was during the first version of video streaming on mobile devices. It's kind of before the iphone in facetime. So that company ended up being acquired by skype and Andre. Ri- other co-founder Work John. That was him in he. He's the one who built a lot of the video streaming components of it so he also worked at the Russian social network classic. And he's the real genius behind our technology wonderful now. Can you tell us a little bit about why you think boys can improve the experience of existing applications that are are out there. Yes so voice in existing applications. It's taking all of the functionality that they have and making it available at any he time from any different screen so not all mobile. Applications are easy to use as instagram. Day Are GonNA especially in enterprise. They're packed with functionality and Plexiglas a lot of screens a lot of tapping and touching typing on the mobile phone. It's just kind of in general hard to do. And so is unlocking the power of those applications by letting anyone just be able to talk to them to get work done to access functions while they're driving rather than have to touch the screen it can just talk to it and the screen is providing a visual feedback so they can easily continue it conversation there in what we'd seen in kind of existing voice ecosystem with Google home device Amazon exit vices day at least the version one. They didn't have of the screen. There is not the later came out with a show and the Google Hav and with the initial devices no screen. The user has to memorize what to say in what what to do. And it's hard to kind of keep up with it and it doesn't necessarily memorize the context or understand the context of the user so with voice and within existing existing applications. The user has some idea already of what the application does they can see on the screen. This was visual feedback. And that's why voice experience a mobile when it's supported by those existing functions is just a much better way to interact and enterprise which were primarily focused on the a user's there have very defined or close that they have to complete in so at every step. They're talking to talking back. It's a conversation and they're able to see. Alan is able to understand the visual context of the user and then we also kind of maintain the dialogue on deck. So it's a much richer
Robert Mugabe will have private burial at national Heroes' Acre
"Last week's death of former former Zimbabwean tyrant Robert Mugabe at the age of ninety five presented his country with a problem if from the worst problem with which Mugabe presented Zimbabwe during he's later decades of deranged misrule. How does one commemorate the passing of a figure who was both hero and villain in Mugabe's case indeed both with the founder and destroyer of his nation after an amount of agonizing it has now been decided that Mugabe will be interred in the National Heroes Acre in Harare Laura a public memorial ceremony will be held on Sunday one joined in the studio with more on this bond monocle twenty regular Georgina Godwin Georgina as our listeners are probably aware you are yourself Zimbabwean and I remember we spoke at the time of Mugabe's removal by coup data at how we had that atwells that he was no longer enough and what an I guess a big mental adjustment that was for generations of Zimbabweans. How are we is it adjusting to the fact that he's no longer here at all. You know I think people feel slightly cheated in a way that he went out really with a bit of a whimper not a bang that we and indeed he probably expected and he's no longer there but I gather that in his last few months. He wasn't all there mentally anyway. If you look at the photograph few months well I I mean from when he started wearing you know dribbles and chuck suits but and obviously as you point out his his last years were were he was in the grip of definitely something probably dementia but for him to be dead is something that's quite odd because what you're seeing in Zimbabwe's as you alluded to is people wanting still to hate him but also really wanting to acknowledge the role that he played in in in the formations the country and say so there's quite a lot of them big dichotomy between how people feel because us as I think we discussed at the time if Mugabe is say had sort of cheerfully stepped down from office circa the late eighties and sort of idled into a retirement of giving elections and writing books he would be regarded as one of the twentieth century's heroic figures wouldn't they completely and utterly and he would have got a hero's funeral. Oh hang on the funeral which does prompt the question though that who who turns up for Mugabe's Hero's funeral thousands of people have been attending the lying in state. At referrers stadium in Harari who still is Mugabe's constituency well at the formal proceedings. You'll have a lot of heads of state state. I think Cyril Ramaphosa is coming from South Africa and various other people from from around the continent impacts further afield but in terms of ordinary people what generally happens in in in situations like this is that people have Boston and their promised food and those are the two things that people have that they don't have any fuel in Zimbabwe so they wouldn't be able to get there by themselves. They don't have the money money for bus fare and they're desperate to eat so if you promise people all of that they will turn up much. I mean I'm sympathetic to an extent extent or to this extent with the current Zimbabwean government. You have to acknowledge his passing some how you have to do something if not not what is being done what other suggestions have people made there was an argument of course to whether he should be buried in National Heroes Acre. But where else would you put him well. He is family. It appeared wanted him buried in his home area of Qatar which is where he comes from and I think would have been one way around it but it appears that the government was really pushing to have him in heroes. Acre which apparently he had not wanted himself. There was another really interesting piece of not not legislation but something else he put in his will. I think which was that his wife Grace Mugabe was to stay with the casket at all times until he was buried therefore what he's doing doing that is guaranteeing her starring role in his final Hurrah. Do you get the sense that the current government and we should remind ourselves that the current President Emmerson Mnangagwa was for many years Zimbabwe's Robert Mugabe's kind of conciliatory if you will are they trying to reanimate the myth of Mugabe the liberator to to their own ends. I think that that would certainly serve a purpose that the end but I mean at the same time time. Mugabe's very useful is somebody that you can up lay all the blame on and say look it wasn't us it was the previous guy where clean we're going forward and of course that's what the what Managua A and his cronies would like us to think that this is a completely new dispensation. It really isn't make no mistake.
Can land expropriation help heal South Africa?
"In in addressing inequality. It seems a straightforward indeed elegant policy. Take stuff off people who have a lot of it and give it to people who don't have any of it however anybody certainly any government proposing such a measure would do well to heed the immortal wisdom of H L Mencken who once observed that there is always a well known solution to every human problem neat plausible and wrong nevertheless the idea Uh of land expropriation has returned to the public discourse in South Africa a panel assembled by President Cyril Ramaphosa to look into the idea It has returned a proposal recommending in limited circumstances these seizure of land without compensating the owners we should no longer be afraid of this process of having to change the land ownership architecture in our country it is here and it is here to stay it is is going to happen land ownership has been a persistent issue in post apartheid South Africa and not without reason a quarter of a century after the racist monstrosity of apartheid was formerly dismantled white South Africans who comprise roughly nine percent of the population still own seventy two percent of the farmland possessed by individuals as an illustration of the lingering effects of systemic injustice. It's hard to beat by lament. has rare opportunity to address on this past wrongs allow the natives who have lost so much to re came the ad dignity back by kissing our land back. No no I shall be treated as in our own land Never Ramos's panel has proposed seizing land which is held for speculative purposes land which is occupied and worked by tenants. and land that has been abandoned it has also suggested taking inner city buildings owned by absentee landlords the A._n._C. Lakota reaffirmed its position that a comprehensive land reform program that enables equitable access to land will unlock economic growth by bringing more land in South Africa to fool us and enable the productive active participation of millions more South Africans in the economy for obvious and understandable reasons. These measures will go over well. l. with a significant proportion of South African voters especially those who have lately been tempted away from President Ramaphosa's African National Congress now very much the Party of South Africa's establishment and towards the radical firebreathers of the opposition Economic Freedom Fighters Party who nearly doubled their parliamentary presence in last May's election the F. F. led by Julius Malema who might be charitably described as uncompromising in his general approach favors wholesale nationalization of South Africa's land you say I thought what colonialism we wanted decolonisation. He said yet your body Batas in Africa. What is being proposed by President. Ramaphosa's panel is significantly. less than that but it is nevertheless significant as it stands under section twenty five of South Africa's Constitution the government may expropriate appropriate land but is required to cough up just and equitable compensation there has long been chat about amending this close and or concocting getting some legal argument that in certain circumstances just and equitable compensation might amount to nothing they also a growing growing body of opinion in our country that the constitution as it stands does not impede expropriation Asian of land without compensation that expropriation will be popular in some electorally important demographics is beyond doubt and that is very usually usually the clinching argument in matters of politics although some polling in South Africa suggests widespread unease with the idea of no compensation facto less often subject to rigorous scrutiny is whether or not a given policy will actually work and where expropriation of land is concerned concerned there are some discouraging precedent and if you want to see
Can land expropriation help heal South Africa?
"In addressing inequality quality it seems a straightforward indeed elegant policy. Take stuff off people who have a lot of it and give it to people who don't have any of it however anybody certainly any government proposing such a measure would do well to heed the immortal wisdom of H L Mencken who wants observed that there is is always a well known solution to every human problem needs plausible and wrong nevertheless the idea of land expropriation has returned to the public discourse in South Africa a panel assembled by President Cyril Ramaphosa to look into the idea has returned a proposal recommending in limited circumstances the seizure of land without compensating the owners. We should no longer be afraid of this process of having to change the land ownership architecture in our country. It is here and it is here to stay. It is going to happen land. Land ownership has been a persistent issue in post-apartheid South Africa and not without reason a quarter of a century after the racist monstrosity of apartheid was formerly dismantled white South Africans who comprise roughly nine percent of the population still own seventy two percent of the farmland possessed possessed by individuals as an illustration of the lingering effects of systemic injustice. It's hard to beat this by lament is rare opportunity unity to redress on this past wrongs to allow the natives who have lost so much to reclaim the dignity. <MUSIC> BIC by kitching our land back no law shall. We be treated as life in our own land. Never Ramaphosa's panel has proposed seizing land which is held for speculative purposes land which is occupied and worked by tenants and land and and that has has been abandoned it has also suggested taking inner city buildings owned by absentee landlords for obvious understandable reasons these these measures will go over well with a significant proportion of South African voters especially those who have lately been tempted away from President Obama poses his African National Congress now very much the Party of South Africa's establishment and towards the radical firebreathers of the opposition Economic Freedom Fighters Party not who nearly doubled the parliamentary presence in last May's election the F. F. led by Julius Malima who might be charitably described as uncompromising uncompromising in his general approach favors wholesale nationalization of South Africa's land. You'll say I thought what colonialism we wanted decolonisation yet yourself party or Lord Boorda's in Africa what is being proposed by President Obama poses panel is significantly less than that but it is nevertheless significant as it stands under section twenty five of South Africa's Constitution and the government may expropriate land but is required to cough up just and equitable compensation there has long been chat about amending this his clothes and or concocting some legal argument that in certain circumstances just and equitable compensation might amount to nothing they is also a growing body of opinion in our country that the constitution as it stands does not impede. beat expropriation of land without compensation that expropriation will be popular in some electorally important demographics is beyond doubt and that is very usually the clinching argument in matters of politics. Although some polling in South Africa suggests widespread unease with the idea of no compensation factor less often subject to rigorous scrutiny is whether or not a given see see policy will actually work and where expropriation nation of land is concerned. The are some discouraging precedents and if you WANNA the inroad of what you want to do today most infamously in the early years of the twenty th century Zimbabwe's then President Robert Mugabe ordered the seizure of white-owned farms and they're transferred to black ownership good have looked at what happened in Zimbabwe. Remember signor Robert Mugabe went down the same road was he also did in so doing was effectively <unk> demolish. Zimbabwe's agricultural infrastructure femme production plummeted by two thirds in less than a decade and Zimbabwe's economy collapsed alongside to the point where the country had to abandon its hyper inflation stricken currency in two thousand nine. Zimbabwe issued a one hundred trillion dollar banknote note which wouldn't buy a phosphate. They're actually doing the opposite non Zimbabwe. 'cause they realize the folly of their ways. South Africa is not Zimbabwe's and Cyril Ramaphosa Hosa is not Robert Mugabe but the <hes> some similarities many years after the end of white minority rule things remain extremely tough for many among long South Africa's black majority the unemployment rate in South Africa is a staggering scandalous twenty seven point six percent even higher among youth who. Who are increasingly drawn to the E. F F and South Africa is as Zimbabwe was an apparently attornal one party Democracy Ramaphosa a post has big problems and the means always tempting of making big gestures in response. If this Kevin was serious about restitution and redistribution we would speed up the hundreds of thousands of land claims that tremaine unprocessed in South Africa that is what it serious party would do if it was kid about land performer land redistribution the trouble is that property rights matter they are along with free and fair elections a free press judicial independence and the rule of law one of the crucial differences between functional society and a shambles property rights are also in this specific instance crucial to the foreign investment which South Africa urgently requires. Nobody is going to buy something if they're not sure they will be allowed to keep it and in fact we have said to those who are investing in no country that they shouldn't have no fear that the land property is going to be expropriated while the proposals of the presidential panel panel commendably constrained they will prompt concerns about these slipperiness of this particular slope they are of the ways to redress economic imbalance and historical injustice. The President Ramaphosa will be wearily aware that they are often more complex and long term than understandably impatient poor people would prefer he could of course set a personal example his own farm. The in Taba Neo near state in Malaga Province is reckoned at five thousand one hundred Hector's plenty to go around for monocle twenty four. I'm Andrew Moolah
South Africa graft inquiry exposes ANC divisions
"Today. We're looking at South Africa and its battle against corruption which took a dramatic turn this week with former president Jacob Zuma a cool to testify before commission of inquiry joining me on the line from Johannesburg is correspondent jobs of cultural and here in the studio Africa editor David Pilling David Festival. Could you give us the background. This inquiry is into this idea of state capture. The role of some businessmen called Gupta's. How's it come to this will for a long time? There's been this notion of state capture which is really South African phrase or it's become a kind of Motif in South Africa really a term that denotes mass corruption the hollowing out of some some of South Africa's most important institutions in the idea that they've been kind of sold to the highest bidder including the family mentioned the Gupta's who are very close to Jacob Zuma when he was president this in the sense of the moment that everyone's been waiting for this has been ongoing testimony from from various people who are involved her accused or who have evidence but this is really the man who is said to be at the sense of the Fulcrum the man who innocence is alleged to have sold the presidency and really sent South Africa which was already having many difficulties really kind of sense it on a very difficult path of low growth corruption loss of faith in the A._N._C.. An government and therefore a lot hangs on this inquiry doesn't it I mean it's not just just about making sure that justice was dumb to some extent the hopes of President Obama poser to correct the course of South Africa to some extent today hang on this inquiry working out to some extent. Yes I mean I think there are two things I mean one. Is this idea that the people who were involved should be punished. Jacob Zuma has been doging what some people would say as justice what he would say as persecution for moving a decade those who think that Zimmer is guilty those who think that he is at the center of something that is corroded the whole South African dream think that unless he somehow punished then we won't be able to move on then there's also cost the kind of evidence that is presented the evidence that is needed to root out corruption from within the A._N._C. and it goes very deep according to most accounts and evidence. That's really needed for Sir. I'm opposed to get a grip on the party and turn it in the direction that he has claimed he wants to turn it into in his electioneering so Joseph this week the commissioner of inquiry weaker very important state with presence Zuma Call to testify how did that go started with classic Jacob Zuma Very Rivera performance as he opened his testimony and gave his side of the story and he said free. Anything's Fussy his enemies in the African National Congress auspice they are saying all of these things about the <unk> because foreign spy agencies which he didn't name but were to be the C._I._A.. Enough is instructed students <unk> and finish off. He said people trying to kill him. People have sent suicide bombers <unk> after him people trying to poison him so it's very dramatic but since then and the days the photoed he's deflated a bit as we've got into the nuts and bolts of enquiries questioning the inquiry has put to him specific allegations civilisation exits. You told them to lie about the Gupta's Minister Zet made this claim and immune response has been. I don't know I can't remember right and this conspiratorial stuff that he's used. Is there a ready audience written South Africa. Do you think many people will be listening to him and does he still have a financial support quarter. Can maybe prevent him being brought down bonus outside Africa and in most of the population. This does sound absolutely match. He's going back to allegations that date from the nineteen ninety s that the A._n._C. was infiltrated by foreign spies. Zoom himself was a former spy master in the A._N._C.. He claims to have lists of enemies. Were spies. It does sound like it comes from <unk> but there is an audience in G._N._C.. It's not big but it is exists. People do believe there is outside interference in South African and A._N._C. Politics and by that narrative that this position imposed by external forces Suma has not named but in terms of picking away at the credibility of inquiry picking away at the credibility of Roma pauses cleanup effort it works to create that kind of disinformation and David would there are people think within the N._C.. Whose face the tied up with Jacob Zuma so they're not necessarily people who believe in him? I'm sure there are in the wider population especially in KwaZulu Natal but within the A._N._C. There are people who depend on Zuma's version of events prevailing because otherwise otherwise the next nothing. That's quite important because you've got this fight within the A._N._C. and remember Ramaphosa only just won the presidency so you have this fight between these different elements and they've not been able to root out by any means all the the people who were pretty much involved in state capture. Some of them still hold high office if you look at the A._N._C. Network throughout the provinces of South Africa the kind of riddled with people who somehow benefited from a lot of what was going on and so there's a lot of steak and they're able to fight back to some extent on them. They've been able to chuck allegations the Finance Minister Probably Gordon and so on well. That's exactly right. I mean you have this kind of war of words and his war of parallel realities. It's important to note that there is very clear documentation mutation the backs up a lot of these allegations even though some of the investigative services were themselves compromise for example the protects the general to Lee Metal Seller came out with a report with names dates places the Financial Times itself reported reported a story where the then finance minister was offered a bag of money to take over the finance ministry and do various things that would have been off benefit to people connected to this sort of state capture network so I mean there's quite a few smoking guns there. But there's also the possibility especially I think in the world that we live in today of a counterfactual narrative that can be built up and if people arrested in that narrative than it's easy to believe it if their fortunes if their jobs depend on it then of course they'll believe John Beckett right and Joseph how is in broader terms the Ramaphosa effort to write South Africa to put it back on the right track. How's it going eighteen months ago? I think people would have been talking about remote Pouria about this sense that just a mere fact of having someone else in the presidency would unleash foreign investment and bring back South African companies to invest her as well that is not going well the economy's gutting with recession and they're very bad numbers at the beginning of this year. It's GonNa take a long time just because of the extent of the role just to take one example Eskan depowered monopoly which generates navy one of the country's electricity has just been for band patch of quite severe blackouts which obviously done the economy no favours as Davis had that is a smoking gun. One of the biggest intensive corruption under Zuma's rule but Ramaphosa team has been very very slow hello to restructure and s gone back honor bell fitting so that sense of urgency that was there a year and a half ago or Zuma was removed from power than dissipating and is that because the President Ramaphosa of the obstacles faces are larger than he imagined I mean how bad was the situation. He inherited actually we can go back to something. A former minister said at the inquiry about state capture itself which is don't over zoom denies denies it during make it all about Jacob Zuma. This was a much bigger network. The one president that are much more alleged perpetrators than the Gupta's so to route that out of the A._N._C. will be a bigot. It doesn't involve solve the tax collection agency the National Prosecutor even the public protect to David mentions had four against Corruption Zuma Bat has allegedly been captured by the quote unquote fightback so so it's not like things going on one way towards reform. It's a real conducting institutional fight so yes. It's not what about Jacob Zuma legacy so let's just finish by looking at the future both of the A._N._C. itself twelve and of South Africa. David background is that it's known about a battle within the end see the N._C.. The Positive Liberation the Party of Mandela has been losing popularity in their arrivals. Do you think this is an away a last chance for the Nancy and if they fail walk replaces them I think in says it is a less chance I mean you've seen its popularity slide. I think they won't fifty seven percent in this election fifty seven fifty eight and it would have been much lower had not been for the remedy fauria affect that Joseph referred to there is disillusion in the A._n._C. as a kind of typical liberation party which of course it never was seen as it was seen as this great transformer of the Rainbow Nation but it's unfortunately in many people's is gone on the way of other post-independence liberation movements got a monopoly on power and therefore abused its power. The one thing you're saying is that the South African economy which had been growing before Jacob Zuma five and six percents a year at least giving. Some room to do some of the social changes that the A._N._C. has promised to do an is the legacy of apartheid that does need to be addressed but with no growth with recession. There's just nothing to play with and in the end I think unless unless the A._N._C. can sought out its internal divisions standouts corruption at least to a certain extent and get the economy moving again then we will proceed at one pacer another in one direction that will be that the A._N._C.'s majority will old slipped below fifty percents. We'll move into coalition government. I didn't think we'RE GONNA lose the A._N._C. and power for quite a long time but you can see the A._N._C.'s total monopoly on power fading and in some people's eyes that would be no bad thing but some of the political forces I mean there are liberal democratic forces but they're also more left wing nationalist forces led by me and someone who might profit they're both you know there's a party to the right of the A._N._C. which believes in much more free market liberal economy of vessel but might be recognizable say in Europe but there's also a policy that basically says that the Liberation Movement in one thousand nine hundred four has been betrayed that is rallying around questions like nationalization of land or expropriation of land or that compensation because the the truth of South Africa the big truth that's looking behind all of this is that the disparity of income between the largely white population but with now black middle classes prospered on the one side and then a great divide with the rest of the black population that has really been left behind in his almost as far behind as it was under apartheid. That's the background and that's the social pressure that is behind a lot of this in which the A._N._C. in internal struggles in its moral corrosion is really unable to address and Joseph to finish the time I was in South Africa one did hear this phrase state capture but also some people muttering about state failure the sense that if this couldn't be turn round South Africa was really quite serious trouble and it statuses is the most advanced economy in Africa was under threat as we speak the army has been deployed in South Africa's Western Cape Aware Capetown is because of crime being so bad in townships around South Africa's second city not so as indicates for failure buses capture. I think that's a fad point to make state. Capture focused on major state companies focused on the Finance Ministry the very top of the state intensive allegedly the diverting resources to people Gupta's but from below rivers issues Davis has just been talking about basic service to the water at Trinity. I mentioned Eskom. Thurs indicates is old flagging as well. I I mean look at the end of the day of roughly infrastructure is miles edge of many countries on the continent on remains sir but this sense of urgency that was eighteen months ago about undoing nor anything capture but also bringing economic stagnation to an end Indorama poser that message has lost a bit amid the continued inflicting in the A._N._C. so that risk of failure stood
South Africa, Cyril Ramaphosa And Mr. Imposer discussed on BBC World Service
"South Africa's president Cyril Ramaphosa has announced a new cabinet in which for the first time in the country's history half of all ministers are women, Mr. imposer, who's ANC party won a general election this month has slimmed down what he called a bloated