Moyo dishes dirt on Manuel; Trade war talk boosts rand; Eskom coal plants face closure

BizNews — The battle between Old Mutual’s sacked CEO Peter Moyo and the life assurer’s chairman, Trevor Manuel, has intensified, with Moyo claiming that he was fired in a tit-for-tat type move after raising a red flag about Manuel’s conflicts of interest. South Africa's rand started the week stronger after the United States and China agreed to restart their troubled trade talks, lifting the mood across emerging markets. The improvement in the relationship between China and the US also helped lift Wall Street's main indexes, with the SaP 500 hitting an all-time high. The South African economy has been shrinking, but rand hedge stocks have been powering up returns from JSE shares, says Bloomberg. President Cyril Ramaphosa is considering whether to back a proposal to improve troubled Eskom’s debt terms by closing polluting coal plants early to make way for renewable energy, reports Bloomberg.

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