Flash Briefing: Eskom bailout in world headlines; UBS hit with record fine; Glencore caves to activists; Dynamite in US Fed Minutes

In today’s business headlines… The Minutes of last month’s US Federal Reserve interest rate meeting, released yesterday, disclose that members agreed to pause the tightening phase until there is more clarity on emerging risks to economic growth. Swiss bank UBS has been fined a record $4.2bn for encouraging wealthy French citizens to evade tax by helping them launder undeclared money. Global miner Glencore, the last major group to swim against a carbon energy tide, has finally caved in to pressure from environmental activists. In South African related news, global business publications are giving prominence this morning to the Ramaphosa government’s $5bn Eskom bailout in yesterday’s Budget.