World Bank backs Eskom; Zim pays Eskom some; Steinhoff targets Jooste’s assets; SA miners want 48%

The World Bank says SA will save Eskom. Details of a R230bn rescue package are due to be unveiled soon, says Bloomberg. Zimbabwe has paid back some of the money it owes for electricity provided by Eskom. South African retail giant Steinhoff wants its former CEO Markus Jooste to repay millions he received in salary and bonus payments. Medical snake oil is an age-old problem, but the internet has dramatically extended the reach of bad actors peddling fixes for complex conditions that don’t always have cures. The Wall Street Journal reports that Facebook is tweaking its algorithms and cutting down on advertising that directs traffic to bogus cancer treatment claims. AMCU has asked for a pay increase of as much as 48% as higher palladium and rhodium prices boost company earnings, but some producers say that would lead to job losses and mine closures. The rand was trading at R14.08 to the dollar, R17.75 to the British pound and R15.92 to the Euro late on Tuesday.