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PGM PRODUCERS: RBPlat faces 25% wage hike after posting a hefty R164 million net loss

JOHANNESBURG – Royal Bafokeng Platinum (RBPlat), which posted a hefty R164 million net loss in the six months to June on teething problems at its Styldrift mine, is facing a 25 percent wage hike demand from the National Union of Mineworkers (NUM).

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AUTO PRODUCTION: Continental to Eliminate Jobs, Cut Costs in Shift to E-Cars

Continental AG plans to eliminate jobs and may sell some combustion-engine component businesses, deepening an overhaul at the German automotive supplier caught up in the disruptive industry shift to battery-powered vehicles.

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AUTO PRODUCTION: Tens of thousands losing jobs as India's auto crisis deepens

NEW DELHI (Reuters) - Slumping sales of cars and motorcycles are triggering massive job cuts in India’s auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said.

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SOUTH AFRICA: It’s a done deal, Sibanye tells mining communities challenging R5bn Lonmin merger

  • Date: 05-08-19
  • Category: SOUTH AFRICA
  • Source: Daily Maverick

Sibanye-Stillwater is opposing a Constitutional Court application launched by six mining communities to have the company’s merger with Lonmin reversed. The mining communities said they were excluded from merger talks. However, Sibanye-Stillwater said the merger is ‘practically impossible’ to reverse as it has been implemented.

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AUTO SALES: UK sales worst in July since 2012

  • Date: 05-08-19
  • Category: AUTO SALES
  • Source: Just Auto

UK new car sales declined 4.1% to 157,198 registrations – the lowest July tally since 2012.

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OIL: Oil Needs to Fall Below $20 to Compete With Green Alternatives

  • Date: 05-08-19
  • Category: OIL
  • Source: Bloomberg

Wind and solar power can produce seven times more useful energy for cars, dollar for dollar, than gasoline with oil prices near current levels, according to BNP Paribas SA.

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MACROECONOMICS: China, Taiwan eye windfall from S. Korea-Japan trade dispute

Chinese and Taiwanese tech companies are sensing an opportunity to grab higher global market share in the semiconductor, display and battery sectors amid the latest trade feud between South Korea and Japan, according to sources on Aug 5.

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ESKOM: Looming Eskom strike could result in more load shedding

  • Date: 04-08-19
  • Category: ESKOM
  • Source: The Citizen

Eskom senior managers have dragged Eskom to the CCMA demanding the same 4.7% increase that the power utility recently granted to middle management.

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