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Bank of Mum and Dad dips into retirement cash to fund kids’ homes
Thousands of parents who help their children on to the property ladder are raiding cash set aside for their retirement to do so.
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Eskom failed to obey court, says Westinghouse
THE FIGHT between Westinghouse and Eskom over a R4 billion tender to replace steam generators at the Koeberg nuclear power plant escalated yesterday as Westinghouse announced that the power utility had failed to comply with a court order to hand over documents related to the contract. Westinghouse said even though it had withdrawn its claim for an urgent interim interdict it had persisted with the relief sought for its attorneys of record to be granted access to copies of all relevant documents leading up to and forming the basis of Eskom’s decision to award the tender to Areva. Eskom defended Neo Lesela, the chairwoman of its board tender committee. “While Westinghouse has withdrawn its application for an urgent interdict, which formed the basis of defamatory statements against… Lesela, the Eskom board has noted with concern that personal attacks by the media against her continue with impunity.” – Staff Reporter
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Risks too much for third party
THE CURRENT risks associated with the contract mining and civil sectors led to the withdrawal of the third party that had expressed an interest in acquiring the entire issued share capital of Buildmax, prior to commencing with a due diligence, the listed company said yesterday. Buildmax said shareholders therefore no longer needed to exercise caution when dealing in its shares. It added that all the conditions related to the sale of business and assets by Buildmax Aggregates and Quarries (BAQ) to Raubex and its wholly owned subsidiary Raumix Aggregates for R54.76 million had been fulfilled or waived and the proceeds of the transaction had been received by BAQ. Buildmax said restructuring and cost saving initiatives had been implemented and would result in significant savings. “With an ongoing commitment from senior management, a leaner operating structure, relatively modern operating assets, an outstanding service track record and a solid tangible net asset value underpin, the company is well positioned to take advantage of contracting prospects within the opencast mining sector in Africa,” it said. The share price dropped 5 percent to close at R1.52 yesterday. – Roy Cokayne
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MPs probe CV of SABC chairwoman
PARLIAMENT’S portfolio committee on communications will hold an inquiry into the allegations SABC board chairwoman Ellen Tshabalala misrepresented her academic qualifications on her CV. The public inquiry would take place on September 25, committee chairwoman Joyce Moloi-Moropa said. It comes as Tshabalala has not yet furnished the committee with certified copies of her qualifications – a BComm and a diploma in labour relations allegedly obtained from Unisa. The committee has recommended that Tshabalala be suspended while the inquiry is under way to avoid compromising the integrity and image of the board and the broadcaster. – Staff Reporter
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Gerrard saves Liverpool, Arsenal suffer
Steven Gerrard rescued Liverpool with a penalty as the Reds marked their return to the Champions League with a win.
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Bale helps Real Madrid seal victory
Real Madrid chased away some of their early-season blues when they routed FC Basel in fine style.
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Tough German tests for Chelsea, City
Chelsea and Manchester City get their Champions League campaigns off the mark on Wednesday against German rivals Schalke 04 and Bayern Munich.
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Kings forced to make changes
Injuries have forced EP Kings coach Carlos Spencer to make several changes to the team to take on the Free State Cheetahs.
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Lagos disaster: death toll uncertain
The death toll in a building collapse in Nigeria can still either go up or down, SA’s high commissioner to Nigeria has said.
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‘Sex shop or not, you wait your turn’
The alleged shooter of Boy Mamabolo, pleaded with a court to release him on bail so he can run his sex shop.
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SA laments 67 dead in Lagos
As South Africa wakes up to the news of 67 lives lost in Nigeria, it remains unclear if any SA nationals were hurt.
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Gallery: Nigeria church collapse
Sixty-seven South Africans were among the scores of worshippers killed in the collapse of a Nigerian megachurch.
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