Bird Flu Outbreak Hurts Poultry Industry

South Africa’s already fragile poultry industry faces a trade ban after this month’s bird flu outbreak in Mpumalanga. This is the first outbreak ever of the feared Highly Pathogenic Avian Influenza (H5N8) or bird flu in South African chickens. On Monday night the department confirmed a second case of avian flu in Standerton, after the first outbreak in a broiler breeder site near Villiers last Thursday. The outbreak poses a great threat to the industry with South Africa’s trade partners threatening to ban South African poultry.

Source : https://goo.gl/7JQaFi

SAA Losses Increase

South African Airways (SAA) continued on its loss-making trajectory in 2016-17, notching up an unaudited loss of R1.9bn for the year to end-March, information provided to Parliament’s standing committee on finance has revealed. The loss in the previous year was R1.5bn. The losses have continued into the current year, with a R734m loss suffered in the first month of 2017-18 on revenue of R4.7bn.

Source : https://goo.gl/UNRwHi

22 Million Americans TO Be Uninsured Under Trump Healthcare Plan

The House passed its version of an Obamacare repeal bill in May. That legislation would leave 23 million fewer Americans with health insurance by 2026 than under the Affordable Care Act, CBO said earlier. Senate Majority Leader Mitch McConnell is insisting on a vote this week before lawmakers leave town for the July 4th recess. There are 52 Republican senators, and he needs 50 “yes” votes to move the bill through the Senate. At least five Republicans have so far publicly stated that they cannot support the legislation in its current form. The largest savings in the Senate bill would come from reducing federal spending on Medicaid, which would decline by 26% by 2026, compared to current law. Like the House plan, the Senate’s version would end enhanced funding for Medicaid expansion, though at a slower pace, while overhauling the entire Medicaid program.

Source : https://goo.gl/LJGgnZ

Brazil President Charged With Corruption

The chief prosecutor, Rodrigo Janot on Monday evening charged Brazil’s President, Michel Temer with corruption. According to documents filed at the Supreme Court, Temer is accused of corruption and obstruction of justice. Janot’s charges are based partly on a secret recording of a conversation between Temer and Joesley Batista, the former CEO of the meat-packing giant JBS.

Source : https://goo.gl/GKT4SQ

Bitcoin And Ethereum Prices Slide

Bitcoin declined as much as 17%, while smaller competitor ether continued to slide after experiencing a “flash crash” last week, raising concern about mainstream acceptance of the digital currencies. Bitcoin slumped to as low as $2,255.44 in intraday trading, the least since June 15. Ether, the virtual currency based on the ethereum blockchain, plunged 26 percent to $221.45, according to data compiled by Coindesk.com. And ripple, the third largest digital currency based on market cap, has dropped about 13 percent to around 26 cents. The two biggest digital currencies have still surged in value this year. Ether started the year around $8, meaning even with its current drop, the price has doubled many times over. Bitcoin has advanced about 150 percent year to date.

Source : https://goo.gl/mc7rXX

Indicators : Oil 46.26 – Rand/USD 12.83 – Rand/GBP 16.33 – Rand/EUR 14.43

 

 

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Author: The Turk Report

Simplifying complex money matters

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