Reduce coal prices - Mantashe; Metropolitan R100m unit trust fiasco; SA, Nigeria mend fences; Brexit update

South Africa is pushing coal producers to cut prices to help save Eskom, the debt-stricken power utility that threatens to unravel the country’s finances, says Bloomberg. “At these prices of electricity, this economy is going to collapse,” Mineral and Energy Resources Minister Gwede Mantashe said Thursday at a mining conference in Johannesburg. “You have got to reduce the prices - what we are saying is coal producers must contribute in ensuring that is actually addressed.”
Metropolitan Collective Investments has been fined a whopping R100m by the Financial Conduct Authority in connection with losses incurred by one of its unit trust fund.s The FCA essentially accused the fund managers of playing fast and loose with unit trust holders funds by using derivatives structures.
SA, Nigeria mend fences, aim to do more business together, following xenophobic attacks in South Africa and anti-xenophobic protests in Nigeria.

Boris Johnson is winning the battle for Conservative support after outlining his new Brexit proposals in Parliament, says Reuters. The prime minister said he has been encouraged by constructive conversations he has had with European Union leaders -- but a deal is still some way away. Learn more about your ad choices. Visit megaphone.fm/adchoices