US tariff refunds flooding in: Many of America’s biggest companies are raising their financial outlooks for the year, with refunds from previously imposed tariffs providing a substantial temporary revenue boost. [Wall Street Journal]
D-day for social grants in South Africa: Nearly 70,000 South African Social Security Agency (SASSA) beneficiaries have not yet collected their Postbank black cards, with Monday marking the final day for them to migrate from their SASSA gold cards. [EWN]
Chinese airlines losing big: China’s three largest state-owned airlines have reported combined first-half net losses of $1.2 billion as jet fuel prices climbed amid the conflict in the Middle East. [Reuters]
BYD shooting the lights out abroad: Chinese car manufacturer BYD’s overseas revenue has exceeded its domestic revenue for the first time, ending one of the company’s longest profit slumps and paving the way for other Chinese car makers to follow. [Yahoo Finance]
South Africa kisses R56 billion goodbye: Since the outbreak of conflict between the United States and Iran in February, South Africa has incurred at least R56 billion in extra fuel costs, placing it among the 20 hardest-hit countries by the Strait of Hormuz crisis. [BusinessDay]
