PIC the ANC's funding middleman, Labour slowdown at SA ports, Banks do healthcare

[Spread Business Maverick and share the knowledge.]( [Web version here.]( [Business Maverick with Tim Cohen]( Thursday, 11 July 2019 “You're never as good as everyone tells you when you win, and you're never as bad as they say when you lose.” Lou Holtz Story of the Day [PIC Inquiry: Dan Matjila – The ANC's funding middleman]( [By Ray Mahlaka]( The former Public Investment Corporation CEO says he was asked in 2016 by the ANC’s then-treasurer general Zweli Mkhize to release funding from the PIC to support the party’s January 8 celebrations. Matjila referred Mkhize to prominent business figures who had received funding from the PIC. ON THE MARKETS Exchange Rates R/$ = 14.00 -0.02% R/£ = 17.51 -0.03% R/€ = 15.76 -0.05% R/BTC = 168,119.70 -7.06% At -+5am or latest: % open to close Trading the Markets JSE All Share = 57,597.87 +1.11% Dow Jones = 26,783.49 -0.08% Brent Crude ($/bbl) = 66.72 +0.04% Gold ($/oz) = 1,421.49 +0.18% [Advertisement] WHILE YOU WERE SLEEPING [Powell Sounds Dovish Enough to Open Door for a Cut]( Nothing seems likely to stop Jerome Powell from cutting interest rates later this month. Not the regional US Fed presidents who want to wait, not the strongest labour market in decades, and certainly not the political shadows that hang over such a move. [Walmart Got a $10 Billion Surprise After Buying Flipkart]( When Walmart Inc paid $16-billion for control of India’s e-commerce pioneer Flipkart Online Services Pvt last year, the American retail giant got a little-noticed digital payments subsidiary as part of the deal. Now the business is emerging as one of the country’s top startups, a surprise benefit for Walmart from its largest-ever acquisition. [Deutsche Bank Faces US Justice Dept Probe of 1MDB Deals]( The US Department of Justice is investigating Deutsche Bank AG as part of a broadened probe of Malaysia’s scandal-plagued 1MDB investment fund, according to a person with knowledge of the matter. [July 11: Five Things You Need to Know to Start Your Day]( Jerome Powell signals a rate cut as a global chill outweighs good US news. Asian equity futures are mostly higher after the S&P 500 hit all-time highs. And Australia’s stock rally is nearing a record high. [4IR and Africa: Promise or peril?]( [Sponsored content by Investec]( The fourth industrial revolution (4IR) is unfolding on the continent, bringing with it African solutions for African problems. But is it a threat to livelihoods or does it provide an opportunity for Africa to leapfrog the earlier industrial revolutions? In Numbers $124-million Hotel group Marriott faces a proposed $124-million fine from UK regulators for failing to protect customer data. Fact of the Day On Thursday, the very last Volkswagen Beetle will be produced at a plant in Puebla, Mexico. It may not have been the sexiest car, or without some historical baggage with Nazi Germany, but the Beetle definitely left its mark. [Adspace]( [Advertisement] Featured Articles [What happens when governance fails? A VBS whistle-blower’s account describes the price of truth]( [What happens when governance fails? A VBS whistle-blower’s account describes the price of truth]( By Pauli Van Wyk [Taxman may get a R7bn boost from Naspers’s Prosus listing]( [Taxman may get a R7bn boost from Naspers’s Prosus listing]( By Tim Cohen [Transnet go-slow hits vehicle and citrus industries]( [Transnet go-slow hits vehicle and citrus industries]( By Ed Stoddard [If healthcare companies are going into banking, well, banks will go into healthcare]( [If healthcare companies are going into banking, well, banks will go into healthcare]( By Ruan Jooste Opinionistas [Has the time come for the politically weaponised Public Protector to be removed from office?]( A column by Judith February [To decolonise our LLB degrees, we have to understand and incorporate the roots of African law]( A column by Gloria Paidamoyo Chikaonda [Advertisement] [FORWARD THIS EMAIL TO A FRIEND]( [Fb]( [Tweet]( [Yt] Copyright © 2019 Daily Maverick, All rights reserved. You are receiving this mail because you are awesome and on the Business Maverick subscriber list. Interested in advertising with us? [Click here to sign the pact.]( [Getting too many emails from us? Manage your preferences]( [Unsubscribe](