Skip to content
Search

Latest Stories

Eskom sues Deloitte for alleged illegal contracts

SOUTH AFRICA’S Eskom is taking legal action against Deloitte Consulting for the recovery of funds amounting to £10.91 million.

The cash-strapped state power company alleges that the sum of £10.91m is related to improperly-awarded work during 2016.


Eskom has a debt of over £23.71 billion and is dependent on government bailouts to remain operational.

The African firm is facing a judicial inquiry into corruption in state entities. This is in addition to several other probes into mismanagement at Eskom.

Jabu Mabuza, company’s chairman, said in a statement on Monday (21) that his firm filed court papers against the consulting firm, to recover the funds linked to contracts it was awarded by former Eskom executives, accusing Deloitte of unfair practices.

"Information before us shows that Deloitte engaged in activities that were unfair, inequitable, non-transparent and uncompetitive, using off-the-record briefings with Eskom officials to submit proposals, and were granted contracts even though their pricing was way above their competitors," Mabuza said.

Eskom was urging the court to rule the operations relating to a group of tenders as "unlawful and unconstitutional, to set aside the awards, and for Deloitte to pay back the amounts paid to them".

Meanwhile, Deloitte disputed the allegations made by Eskom on Tuesday (22).

The probes were started after leaked documents in 2016 detailed relations between the wealthy Indian-origin Gupta family, former president Jacob Zuma, and deals signed with state companies such as Eskom and other multinational business giants.

The Gupta family and Zuma have repeatedly denied all the allegations.

The detailed investigations have resulted in the resignations and the firing of numerous executives in state-run firms in South Africa.

More For You

Apple to shift majority of US iPhone production to India by 2026

Apple has already stepped up production in India to beat Trump’s tariffs

Apple to shift majority of US iPhone production to India by 2026

APPLE aims to make most of its iPhones sold in the US at factories in India by the end of 2026, and is speeding up those plans to navigate potentially higher tariffs in China, its main manufacturing base, a source told Reuters.

The US tech giant is holding urgent talks with contract manufacturers Foxconn and Tata to achieve that goal, the person, who declined to be named as the planning process is confidential, said last Friday (25).

Keep ReadingShow less
india-uk-fta

Indian commerce minister Piyush Goyal meets trade secretary Jonathan Reynolds in London. (Photo: X/@PiyushGoyal)

Piyush Goyal and Jonathan Reynolds begin final push for India-UK trade pact

THE INDIAN commerce minister and British trade secretary began two days of talks on Monday (28) in London to try and conclude more than three years of negotiations on a trade pact, with added pressure to reach a deal following Donald Trump's tariffs on exports to the United States.

Indian commerce minister Piyush Goyal described the first day of talks with trade secretary Jonathan Reynolds as "productive" in a post on X, without providing further details.

Keep ReadingShow less
Bank of England

The Bank of England building is seen surrounded by flowers in London. (Photo: Reuters)

Bank of England’s Greene says Trump tariffs could push down inflation

BANK OF ENGLAND (BoE) policymaker Megan Greene said US president Donald Trump's tariffs would probably lower, rather than raise, inflation in Britain, although there were big uncertainties around the plan and the impact of a recent UK tax rise for employers.

"We have tariffs, and none of us have any idea what they'll look like when the dust finally settles," Greene said during a discussion with the Atlantic Council think tank on the sidelines of the International Monetary Fund's spring meeting.

Keep ReadingShow less
marks & spencer

M&S has confirmed that its physical stores remain open and operational

Getty

Marks & Spencer suspends online shopping after cyber attack hits systems

Marks & Spencer (M&S) has paused all online orders following a significant cyber attack that has left the company working to restore its systems. The retailer confirmed the cyber incident earlier this week, after customers began experiencing issues with online services last weekend.

While some systems have been brought back online, others remain offline, forcing M&S to stop taking orders through its website and apps. This includes both food deliveries and clothing purchases. The company issued an apology for the inconvenience, acknowledging the disruption and stating that its team, supported by cyber experts, is working tirelessly to resolve the situation.

Keep ReadingShow less
Pakistan airspace curbs push up costs for Indian airlines

FILE PHOTO: Passengers stand in a queue before entering the Chhatrapati Shivaji Maharaj International Airport in Mumbai. (Photo by SUJIT JAISWAL/AFP via Getty Images)

Pakistan airspace curbs push up costs for Indian airlines

TOP Indian airlines Air India and IndiGo are bracing for higher fuel costs and longer journey times as they reroute international flights after Pakistan shut its airspace to them amid escalating tensions over a deadly militant attack in Kashmir.

India has said there were Pakistani elements in Tuesday's (22) attack in which gunmen shot and killed 26 men in a meadow in the Pahalgam area of Indian Kashmir. Pakistan has denied any involvement.

Keep ReadingShow less