Eskom: Ailing Entities Pose Major Risks- EDITORIAL

State-owned enterprises have lurched from crisis to crisis in recent years. Anyone who doubted the damage their instability could do to the economy should take a look at the report Standard & Poor’s (S&P) released on Friday.

 
S&P already had SA’s sovereign credit rating at the lowest notch on the investment grade table. Now it has put the rating on "negative watch", an indication that it is looking to downgrade into subinvestment grade or "junk" bond territory within the next year or two.
Problems at state-owned enterprises are one of the main reasons that might cause S&P to do that. Its comments note the need for an urgent review of the role, ownership structure and operations of the state-owned enterprises.

VODACOM changes tack on Neotel tie-up

South Africa -  After more than two years of pursuing fixed-line phone provider Neotel, Vodacom has asked for more time to restructure the R7bn deal.

The parties now have two weeks to agree on a new structure before presenting it to the Competition Tribunal on December 7. This will be followed by a closed pre-hearing three days later.

Deutsche Bank reveals plan to restructure into new division as"Global Market"

The investment bank is being split, with several senior bankers departing.

The chairman, Paul Achleitner, described it as a "fundamental reorganisation" that required tough decisions.

New boss John Cryan is under pressure to reform Deutsche following a series of scandals.

Earlier this year the bank was fined $2.5bn (£1.7bn) for its role in the Libor-rigging affair.

The fine resulted in co-chief executives Juergen Fitschen and Anshu Jain resigning in June, to be replaced by Mr Cryan.