Business
In today's headlines: SA is staring down a recession, says Bloomberg. South Africa’s economy contracted for a second quarter this year economy hasn’t expanded at more than 2% annually since 2013. SAA is on the brink of collapse. Its bosses are trying to buy more time by asking all the big lenders to help it with a cash crunch, while unions representing staff members are threatening to take action to push the airline into business rescue, a form of bankruptcy protection. Zimbabwe is deep into a vicious cycle of sky-rocketing malnutrition, the World Food Programme has warned. It plans to double the number of people it’s providing with emergency food aid in Zimbabwe, where half of the 14-million population is facing severe hunger, says Bloomberg. South Africa’s Public Investment Corp., the continent’s biggest fund manager, said it’s preparing court papers to try and force Steinhoff International to release PwC’s full report on what led to the retailer’s accounting scandal, reports Bloomberg.