'Indefinite' SAA strike; Mining surprises topside; SA hedge fund landscape changes; Pepkor, Sappi

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In today’s business headlines:

  • The two unions at SAA started strike action after they rejected the latest wage offer of the airline. They plan to strike "indefinitely" and are approaching the Labour Court to seek an urgent interdiction against dismissals.
  • Pepkor has issued a trading statement saying they were expecting higher earnings for the present financial year.
  • Sappi, the world’s biggest producer of pulp halted dividend payments after the impact of the US trade war with China triggered a collapse in the price of dissolving wood pulp - the South African company’s main product.
  • Mining production increased 0.2% year-on-year in September after a 3% decline in August, which is above the expectations of analysts and
  • South Africa’s hedge fund industry is betting on new rules to help reverse a record drop in assets under management.

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