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Why did the Johannesburg fire claim so many lives?

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Overnight, a devastating fire tore through a dilapidated five-story apartment block in Johannesburg, claiming the lives of over 70 individuals. This tragic incident stands as one of the most severe disasters in a city grappling with widespread poverty, household fires, and homelessness.

The apartment building, now a charred and smouldering structure, remained a grim scene as emergency personnel gathered nearby and covered bodies with blankets on a neighboring street. The property is under the ownership of municipal authorities, who struggled, even after 12 hours since the fire’s outbreak, to provide a clear account of the occupants. Reports indicate that criminal gangs might have exploited the building, renting out rooms in a process referred to as “hijacking.”

Among the witnesses, student Thando le Nkosi Manzini recounted seeing a man tragically leap from the fourth floor, losing his life instantly. Survivor Omar Arafat, while wiping away tears with his t-shirt, shared the harrowing tale of losing his sister in the fire, an escape he narrowly managed. The fire not only claimed lives but also left individuals like Arafat and his family with nothing, their possessions consumed by the flames.

The toll of this tragedy is substantial, with Thembalethu Mpahlaza of Forensic Pathology Services confirming the recovery of 74 bodies, including 12 children and 24 women. Additionally, more than 50 people were initially reported as receiving treatment for injuries sustained during the fire.

The President addresses the nation

Addressing the nation, President Cyril Ramaphosa expressed his condolences and voiced a desire for comprehensive investigations to prevent such a catastrophe from recurring. As Ramaphosa visited the site, the anguished cries of grieving relatives filled the air, underscoring the profound impact of the disaster.

Ramaphosa acknowledged the urgency of addressing housing challenges within the inner city, labeling the incident a “wake-up call.” Initially, authorities speculated that squatters occupied the building. However, Lebogang Isaac Maile, head of the Human Settlements department for Gauteng province, indicated that criminal gangs might have exploited vulnerable individuals by extorting them or providing rentals.

The building, historically a heritage structure from the apartheid era, holds significance as a site where Black South Africans once obtained “dompas” documents allowing them to work in white-owned areas. Johannesburg’s deep-seated disparities remain evident, with staggering poverty, unemployment, and housing shortages. The city is home to approximately 15,000 homeless people, exacerbating the housing crisis.

Household fires, especially prevalent in impoverished neighborhoods, are a recurrent issue in Johannesburg. Residents often resort to candles and wood fires due to chronic power shortages. The exact cause of this devastating fire remains under investigation.

Maile emphasized that this tragedy underscores the chronic housing problem within the province, with around 1.2 million people in dire need of housing solutions. The incident serves as a somber reminder of the urgent need for comprehensive measures to address housing disparities and prevent further loss of life in the future.

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Tech, trade & tariffs reshape global economic landscape

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The global economy is undergoing rapid change — with breakthroughs in technology, shifts in trade policy, and renewed inflationary pressures all colliding.

In the U.S., the autonomous vehicle sector is accelerating after Waymo received key regulatory approval to expand its driverless services. The move could give Alphabet a competitive edge over rivals like GM’s Cruise, with the prospect of robotaxis generating real revenue on the horizon.

At the same time, fresh tariff threats are sparking alarm in the retail sector. Walmart has warned that new duties could trigger double-digit price hikes, putting pressure on consumers and potentially reshaping spending patterns, especially in electronics and apparel.

Meanwhile, the UK and EU have struck new trade agreements aimed at reducing red tape around food and emissions. The deals mark a step toward improved cooperation and could provide a modest economic boost for exporters.

With uncertainty still hanging over global markets, investors are once again turning to precious metals. Gold and silver are gaining attention as safe havens, with silver’s industrial use giving it added appeal in an uncertain climate.

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Markets shift, Musk commits, and political tensions rise

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Elon Musk says he’ll stay on as Tesla CEO for at least five more years, while scaling back political donations. Despite falling sales, he’s confident in Tesla’s global strength and hinted at a future Starlink listing—though legal hurdles remain.

In politics, the Nationals have split from the Coalition, with some Liberals calling it a vital reset. Former PM John Howard wants unity, but a party review is underway to regain younger, urban voters.

Australia’s central bank cut rates to 3.85% as inflation eases, though weak spending and global risks remain. GDP rose 1.3%, showing signs of recovery.

And in Victoria, a $167 billion debt budget sparked outrage, with protests over job cuts and a controversial tax as net debt is set to hit $194 billion by 2027.

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Victoria faces record debt with public job cuts imminent

Victoria’s budget forecasts record debt, proposes public sector job cuts, and faces criticism over tax increases and lack of clarity.

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Victoria’s budget forecasts record debt, proposes public sector job cuts, and faces criticism over tax increases and lack of clarity.

In Short:
Victorian Treasurer Jaclyn Symes has unveiled her first budget, projecting a $600 million surplus despite rising net debt and plans for significant public sector job cuts to save $3.3 billion. Reactions are mixed, with opposition leaders criticising increased taxation and insufficient focus on climate change, while some welcome funding for health and crime prevention.

Victorian Treasurer Jaclyn Symes has presented her first state budget, indicating a projected surplus of $600 million amidst soaring net debt, which is expected to reach $167.6 billion this year and further rise to $194 billion within three years.

The budget has flagged significant public sector job losses, with the government noting plans to save $3.3 billion by eliminating inefficiencies, although specific details on job cuts remain scarce. Symes mentioned that approximately 1,200 full-time equivalent positions are included in the savings, with additional cuts likely after a report from bureaucrat Helen Silver in June.

Debt bomb

Opposition Leader Brad Battin condemned the government’s approach to debt, arguing it burdens Victorians through increased taxation, particularly criticising the new Emergency Services Levy. The Greens have also expressed dissatisfaction, highlighting a lack of focus on climate change in the budget.

While the net debt is projected to remain stable, cost increases for state projects have amounted to $3.3 billion. Despite the looming cuts, the budget allocates substantial funds to health and crime prevention, including $11.1 billion for health services and $1.6 billion for crime reduction initiatives.

Tax revenue is expected to rise significantly, spurred by the Emergency Services and Volunteers Fund, which will place additional financial strain on landholders, particularly farmers. Reactions to the budget have been mixed, with some welcoming support for struggling families, while others decry job cuts and insufficient investment in regional development.

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