Breakfast Edition: 11 December 2015

MARKETS REACT NEGATIVELY TO POLITICAL DECISIONS IN SA: Yesterday the newly appointed Finance Minister said that treasury should be made accessible to everyone, especially to those living in rural areas. Minister David Douglas van Rooyen was sworn in at the Union Buildings in Pretoria on Thursday. "The treasury is the axis of our development agenda as the ANC, it must be accessible. We need to demystify the way it is seen and used as a scarecrow … it is our duty to remove that myth." Van Rooyen was sworn in by Judge Sisi Khampepe after President Jacob Zuma affirmed his appointment during the short swearing-in ceremony. Yesterday has seen the most severe market reaction to a political decision in South Africa. This according to Standard Bank economist, Chris Hart, referring to the appointment of the new Financial Minister. The surprize announcement on Wednesday evening by president Jacob Zuma, that he was replacing the respected Nhlanhla Nene, with the mostly unknown Van Rooyen, sent the rand in a tailspin.

FINANCIAL INDICATORS:

TOUGH TASK AHEAD FOR NEW MINISTER: Appointed out of the blue amid stormy economic times, newly appointed Finance Minister, David van Rooyen is well aware of the colossal task ahead of him. Maryke Vermaak reports.

IS VAVI STARTING A NEW WORKERS FEDERATION? Former COSATU General Secretary, Zwelinzima Vavi has played down expectations of the formation of a new workers federation. Vavi yesterday addressed a press conference with other independent unions who have called for workers a summit to early next year. Samkele Maseko has more.  

GOLDEN GLOBE NOMINEES ANNOUNCED: "Carol", a lesbian romance about a 1950s housewife in New York who falls for a store clerk, led the Golden Globe nominations on Thursday with five nods, including for best drama film and its two star actresses. Financial crisis film "The Big Short," revenge thriller "The Revenant" and biopic "Steve Jobs" followed close behind with four nominations each for the Globes, which will be handed out in Beverly Hills on January 10. In the race for best comedy or musical film are "The Big Short," "Joy," The Martian," "Spy" and "Trainwreck."The Globes nominations were announced a day after the Screen Actors Guild award contenders. "Trumbo" topped that list with three nods, including best ensemble cast and best lead actor for Bryan Cranston. Click here for the FULL LIST

JANICE JOPLIN'S PORCE AUCTIONED OFF: The famous psychedelic Porsche convertible driven by late rock legend Janis Joplin smashed estimates to sell for nearly $1.8 million in New York on Thursday in a frenetic five-minute bidding war, RM Sotheby's said. It was a world-record price at auction for a Porsche 356, a spokesman for the firm said. The custom-painted 356C 1600 Cabriolet model, dating back to 1964 and which had never left the Joplin family, tripled its highest pre-sale estimate of $600,000 in a five-minute sale peppered with applause.

MICHELLE OBAMA BECOMES A RAP STAR: US First Lady Michelle Obama is featured in a new rap video about the importance of education. She lends her voice and some dance moves to the video, aimed at encouraging young people to stay in school.

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