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Jul 1, 2024 · Staff Writer. · 1 Jul 2024. The rand strengthened in early trade on Monday (1 July) as markets opened to a new cabinet in president Ramaphosa’s Government of National Unity (GNU). The president ...
Jun 19, 2024 · Image: Moneyweb. On Wednesday, the South African rand broke through the R18 threshold for the first time since July 2023. At 5pm, the rand was trading at R17.98 against the dollar — 0.35% up ...
- Windsor Strike
- Rand's Compromise
- Adopting The Formula
The Rand Formula was named for a provision in a labour relations decision handed down on 29 January 1946 by Justice Ivan Rand of the Supreme Court of Canada. Rand was arbitrating the deadlocked and volatile Windsor Strike at Ford Motor Company in Windsor, Ontario, which had lasted from September to December 1945 —one of the country's largest post-w...
In his arbitration decision, which was binding on the union and the company, Justice Ivan Rand issued a compromise. He denied the union's demand that the Ford plant become a closed shop. But he also ruled that all workers falling within the bargaining unit —whether they were actual union members or not —must contribute funds in the form of union du...
The Rand Formula, or modifications of it, became a model for labour relations in Canada, adopted in numerous collective agreements in the decades that followed. Some provinces even gave it legal force in provincial labour codes. The Formula has come under public scrutiny and criticism in recent years. One of the modern arguments against it is that ...
Jun 19, 2024 · The rand strengthened to below R18 to the dollar on Wednesday, breaking below the psychologically important level for the first time in 11 months. The rand traded at R17.95 to the dollar after 09:00. This is in the midst of a wave of optimism that the newly formed government of national unity (GNU) will provide stability and provide a framework for much-needed economic reforms in SA.
Jun 27, 2024 · For more financial news, go to the News24 Business front page. The rand tumbled to an almost two-week low on Thursday after the DA threatened to walk away from the Government of National Unity (GNU) over a disagreement with the ANC over the proposed composition of Cabinet. SA's currency, which was already under pressure in morning trade due to ...
- Garth Theunissen
Nov 27, 2023 · iStock. BUSINESS. National Treasury said the collusion by 28 local and foreign banks to manipulate the rand/dollar exchange rate had no impact on the rand depreciation since 2013. It said rand depreciation was driven by broader changes in the global and domestic economies. In a statement on Friday, National Treasury said the impact of this ...
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Jul 6, 2023 · By Tannur Anders, Reuters 6 Jul 2023 15:45. Image: Waldo Swiegers / Bloomberg. The rand weakened more than 1% on Thursday as the Federal Reserve’s June meeting minutes revealed a hawkish policy ...
