40 More Ford Kugas Burst Into Flames

Last year i reported on a Kuga fire that took the life of a driver. There have been 40 more cars that burst into flames since then and it emerged that Ford in the U.S actually recalled their version of the Kuga for the same reason. Ford South Africa has been accused of misleading investigators and withholding information in the case regarding the fires and there is now a fight between Ford and Investigators. Whats worse is that people trying to sell their Kugas are guaranteed to lose out because its known as the car that bursts into flames and resale values will plummet.

Alibaba Plans To Create Over 1000 Jobs After Trump Meeting

Alibaba Executive Chairman Jack Ma met U.S. President-elect Donald Trump yesterday and laid out the company’s new plan to bring a million small U.S. businesses onto its platform to sell to Chinese consumers over the next five years. They expect the initiative to create a million U.S. jobs as each company adds a position. Interesting how Trump is going about his presidency. Trump also announced that his son-in-law  Jared Kushner will be one of his senior White House advisers. That news didn’t go down well.

Mars Chocolate Maker Buys Into Pet Hospital Network

Mars, better known for candies such as M&Ms and Snickers, is buying pet hospital operator VCA for $7.7 billion (R105 billion). Mars already owns Whiskas and Pedigree pet food as well as a network of more than 900 pet clinics. With this purchase they will gain another 800 pet hospitals and dominate the U.S pet market. Talk about diversifying your business model.

December New Vehicle Sales Drop 15.3%

2016 was a horrible year and new vehicle sales have shown this with the overall figure of 41,639 translating to a 15.3% drop on the previous December. As a result, full-year 2016 sales were 11.4% lower than 2015. The good news, by comparison, was that vehicle exports improved 3.3% in 2016, to a record 344,822.

Grace Mugabe Grabs More Houses In Diamond Ring Dispute

This story is just ridiculous. Zimb first lady Grace Mugabe has allegedly grabbed two more properties from a Lebanese businessman after a botched $1.3-million diamond ring deal. This started when Grace paid $1.3m for the ring using her local bank account. She then demanded a refund after deciding that she no longer wanted it. Ahmed, however, refused, saying anti-money laundering laws did not allow him to do so and opted to pay the First Lady in installments through a third party. Grace refused, resulted in her seizing Ahmed’s properties. The courts have ordered her to give the properties back but she reacted by grabbing two more properties. What a wow. Disgraceful!

Yahoo To Change Its Name To Altaba

The not so useful email and news provider Yahoo has announced that, pending its sale to Verizon, the company will change its name to Altaba Inc. Yahoo also announced that six board members – David Filo, Eddy Hartenstein, Richard Hill, Marissa Mayer (CEO), Jane Shaw, and Maynard Webb – will step down following the sale. The size of the board will be reduced to five directors after the sale. The less said about Yahoo the better.

Summary

If you have a Kuga you’re kinda screwed because you’re stuck with a tin can that’s trying to fry you and Ford refuses to help. Maybe ask Jack Ma for help since he’s all to willing to lend a hand to Trump! We all know h’es got teeny tiny ones. Okay that was a corny joke but its nowhere near as hilarious as Grace who has fallen from her name just as hard as Yahoo has!

Currencies

Rand/USD 13.62 – Rand/GBP 16.52 – Rand/EUR 14.45
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Author: The Turk Report

Simplifying complex money matters

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