A growing significance of the gig economy in South Africa’s labour market. A using ride-hailing to supplement income, while some rely on it as a primary livelihood.
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Swiss central bank head steps down in surprise move
The head of Switzerland's central bank, Thomas Jordan, will step down in September after 12 years in charge, the bank said in a surprise statement Friday. "The Bank Council and the Governing Board greatly regret Thomas Jordan’s decision, and express their sincere thanks for his many years of outstanding commitment in the interests of a stability-oriented monetary policy," it said.
Asian markets mostly up after US gains
Asian markets were largely higher on Friday following Wall Street gains driven by tech rallies and key US inflation data that met investors' expectations. On Wall Street, the tech-linked Nasdaq set a new record, surpassing a 2021 high.
Riding high on AI, Nvidia is no bubble, says Wall Street
The emergence of AI bots like OpenAI's ChatGPT and Google's Bard has fueled a massive rise in share prices of chip-making juggernaut Nvidia, with its skyrocketing stock now making it the world's fourth biggest company by market capitalization.
Divided G20 blocked by 'impasse' over Ukraine, Gaza
The first G20 finance ministers' meeting of the year ended Thursday without a joint statement due to deep divisions over the wars in Ukraine and Gaza, officials said. - No 'business as usual' - German Finance Minister Christian Lindner had earlier said his country planned to insist any final statement address Russia's two-year-old war in Ukraine.
G20 hears a $250-billion-a-year idea: tax the super-rich
French economist Gabriel Zucman brought a $250-billion-a-year idea to top policy makers from the world's biggest economies Thursday: slap an international wealth tax on the super-rich. - What is argument for minimum tax on super-rich?
Oprah's WeightWatchers exit sends stock tumbling
Oprah Winfrey's announcement that she is leaving the board of WeightWatchers sent the company's shares tumbling Thursday -- the latest sign of trouble for the brand as it struggles to compete with new weight-loss drugs. "Director Oprah Winfrey has decided not to stand for reelection at the company's upcoming annual meeting of shareholders," WeightWatchers said in a statement Thursday.
US Fed official says open to 'summer time' interest rate cut
The speed at which US inflation is easing means it will likely be appropriate for the Federal Reserve to start cutting interest rates over the summer, a senior Fed official said Thursday. Bostic's summer time cut prediction appears to chime with the current views in the financial markets about when the Fed could start reducing rates.
Brazil urges G20 ensure 'super-rich pay fair share' of taxes
Brazil's finance minister called Thursday for an international plan to ensure the world's super-rich pay their taxes, urging G20 nations to adopt a shared stance on preventing billionaire tax-dodging by July.
US Fed's favored inflation gauge falls, but price pressures remain
The US central bank's favored measure of inflation edged lower on an annual basis in January, government data showed Thursday, but a metric stripping out volatile food and energy prices jumped month-over-month. The closely watched "core inflation" measure, which strips out volatile food and energy costs, also eased, rising by 2.8 percent on an annual basis.
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