Latest news with #207
IOL News
14-05-2025
- Business
- IOL News
Fuel price decrease still possible for June, despite recent uptick in oil prices
Another fuel price cut is looking likely for June. International oil prices have stabilised following a surge early this week, however modest fuel price reductions are still looking likely for June. The latest data from the Central Energy Fund is pointing to possible price cuts of around 40 cents for petrol and 75 cents for diesel. However, if oil prices remain at current levels, this could be eroded by month-end, possibly to around 15 cents for petrol and 40 cents for diesel. On Wednesday, Brent Crude oil prices hovered near two-week highs, at around US $66 per barrel (R1,207). This remains slightly below the $66.40 average for the previous review period, which determined the current fuel price structure. While oil prices are having a negligible effect on the fuel price outlook for June, the rand is coming to the rescue, trading at an average of R18.38 to the US dollar this month so far, which is significantly stronger than the previous review period's average of R18.83. Why have oil prices risen? Oil was trading around the $61 mark earlier in May, but started rising late last week on optimism fuelled by the easing tariff tensions between China and the US. Although the 90-day trade truce is seen as positive, its expiration could bring renewed market instability, warns Joseph Dahrieh, Managing Principal at Tickmill. However, any further oil price hikes could be mitigated by higher supply levels, with oil cartel OPEC+ indicating that it is set to maintain its elevated output levels. 'Geopolitical tensions could also affect the market as traders monitor the developments in talks in various regions, including Iran, where a positive outcome could see additional oil volumes hitting the market,' Dahrieh added. Stable year for fuel prices South Africans currently pay R21.29 for a litre of 93 Unleaded petrol in Gauteng, with 95 ULP retailing at R21.40 inland and R20.60 at the coast. This follows price reductions of 22 cents per litre for 95 ULP and 21 cents for 93 UPL at the beginning of the month, while diesel fell by between 41 cents (50ppm) and 42 cents (500ppm). This followed petrol price cuts of between 58 cents and 72 cents in April and seven cents in March. 93 ULP is currently just 17 cents more expensive than it was in January. IOL
TimesLIVE
29-04-2025
- Business
- TimesLIVE
TL 6AM: Cleaning the nation, yet struggling to eat: domestic workers buckle under rising costs
More than four in 10 domestic workers in South Africa still earn below the national minimum wage despite modest improvements in earnings over the past year. This is one of the findings of SweepSouth's seventh annual report on pay and working conditions for domestic workers, released in 2024. The report paints a complex picture of the domestic work sector amid soaring living costs and widespread financial insecurity. The report, based on responses from more than 5,600 domestic workers, found that median monthly earnings for those on the SweepSouth platform, known as SweepStars, increased by about 5% in 2024, reaching R5,242. 'SweepStar median earnings have shown a modest increase of around 5% in 2024 despite our recent increase of 8% to our enforced minimum pay per job. While this increase is positive, we do also see the impact of continued economic pressure on all consumers,' the company said. In contrast, domestic workers outside the platform continue to earn significantly less. The average monthly income among this group is R3,404, with female workers earning R3,349 and their male counterparts slightly less at R3,059. 'Overall, domestic workers who are not on the SweepSouth platform also saw an increase in their median earnings from last year, but still fall below the minimum wage increase as of March 1 2024,' the report noted. Though South Africa implemented a national minimum wage of R27.58 per hour in 2022, the report found that 46% of domestic workers still earn below this threshold. 'While 54% of workers earn above minimum wage, an alarmingly 46% of workers earn less,' the report stated, attributing part of this to the recent closure of a loophole that previously allowed employers to pay live-in domestic workers less. The report also showed that earnings vary by job type, with cleaners earning R3,348, gardeners R3,128, childcare workers R3,464, elderly caregivers R3,324 and cooks R3,463. SweepSouth highlighted the growing financial pressure faced by domestic workers due to the rising cost of living. Between 2023 and 2024, overall living costs surged by 15%, with housing increasing by 17%, transport by 10% and electricity by 8%. A basic monthly cost basket, including housing, food, transport and data, was calculated at R4,207, which is well above the average earnings of most domestic workers. 'This shows a deficit between domestic worker earnings and basic costs... many domestic workers still cannot afford these expenses,' the report warned. The report revealed that with many domestic workers financially supporting on average four dependents, the burden is even greater especially for single-parent households. The report found that 75% of domestic workers cannot afford to save. Only 13% reported having savings or a pension, while 18% participate in a stokvel. 'A low savings rate leaves households vulnerable to any financial shocks and prevents them from investing in their future,' SweepSouth said. Debt remained a persistent issue, with 35% of domestic workers reporting that they owe money — unchanged from the previous year. 'Of those in debt, one in three described their repayment situation as 'hopeless'. Half owe money to a shop or store, indicating a high level of easy credit and predatory lending practices,' the company noted. Access to medical aid remains elusive for most domestic workers, with the majority relying on the public healthcare system. Poor service delivery often means losing a day's wages just to receive medical care. SweepSouth Group COO Luke Kannemeyer said despite the hardships, many domestic workers are eager to improve their circumstances. The report found that 42% have completed high school, while 15% have pursued higher education. Encouragingly, 85% said they would continue studying if they had the resources. According to the 2024 first quarter Statistics South Africa Quarterly Labour Force Survey, the domestic work sector saw a decline of 7,000 jobs down 0.8% from the previous quarter. 'Despite a 5% increase in median earnings for SweepStars, earnings still struggle to beat the rising cost of living, especially for non-SweepSouth workers. Financial insecurity is widespread, with 75% unable to save money each month. While there's a positive trend towards savings and pension participation, 35% of domestic workers are in debt, with a third feeling trapped in a hopeless repayment cycle,' said Kannemeyer.
Yahoo
20-02-2025
- Politics
- Yahoo
Local students call for action against gun violence
ATLANTA, Ga. (WSAV) — A group of local students took their voices to the Georgia State Capitol, calling for action against gun violence. Students from Savannah Arts Academy traveled to Atlanta on Tuesday to join the statewide 'Students Demand Action' movement, advocating for stronger gun safety measures both locally and on a national level. They spoke directly with legislators, urging them to address the issue through policy changes like House Bills 1 and 207 which focus on secure storage for weapons in homes and cars. 'I'm graduating this year which means I won't be in high school anymore,' said student Ry Walker. 'But some of the people behind me will still be in high school and their siblings might still be in high school, so it's bigger than me. Like, it's still going to affect them and people they love. Colleges get shot, too, so this effects everyone.' 'I hope that they saw us there,' said student Zoe Wagner. 'They saw our numbers, and they realized that we care about this and that we're passionate about it and we wanna see real change made about it; real legislation. I think that there's strength in numbers and we showed up.' The Group also said they hope their trip will spark meaningful conversations among state leaders. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-02-2025
- Business
- Yahoo
Record Store Day creator Chris Brown leaving Bull Moose music chain
Feb. 4—Chris Brown, a fixture in Maine's music scene and a founder of the national Record Store Day, is leaving the Bull Moose chain this week. Brown, 56, said Tuesday he's leaving the Maine music and bookstore chain to start his own music marketing firm, Chris Brown 33. His last day at Bull Moose will be Friday. Though his title was vice president of finance, Brown was well-known for his insights into the music business, particularly when it came to new local music. He appeared regularly on the News Center Maine TV show "207" to talk about local bestsellers and made videos to promote special releases coming out for Record Store Day each year. Brown said he'll continue to make videos highlighting new releases — and promoting Record Store Day — on his own website. He'll also work with musicians and record labels around the country to help promote their music. "I'm going to be doing a lot of the same things I was doing at Bull Moose, helping people find great music, helping musicians and labels get their stuff heard," said Brown. "It's just time for me to do this." Brown was one of Bull Moose's first employees, hired by founder Brett Wickard to work at the chain's first store, in Brunswick in 1989. Both were students at Bowdoin College at the time. Brown worked at the store until 1991, while studying music composition at Bowdoin. He left for a few years before rejoining the company in 1996. Today the chain has 11 stores in Maine and New Hampshire. Though Brown has become known for his passion for music during his time at Bull Moose, he said he's enjoyed his financial duties too, as they employ a different part of his brain. He said Tuesday his departure had nothing to do with the company's ownership change in recent years. In 2022 Wickard sold the company to its employees, as part of an employee stock ownership plan, or ESOP. "I loved the ESOP conversion, it's been great for Bull Moose," said Brown, who will continue to live north of Portland, as he starts his new business. Brown helped hatch the idea for Record Store Day in 2007 , suggesting it to other indie record store owners around the country, via email. The idea was to put a focus on indie record stores by highlighting special releases and in-store performances and artist appearances. The first one was held in 2008 and has been held annually since. The next Record Store Day is scheduled for April 12, 2025. Copy the Story Link
