In November 2006, almost a year before the financial crisis that struck in 2007 and the recession that followed in its wake, Bloomberg Business Weekly put forward an idea that sounded radical at the time: A Big Big Idea – probably  too big to even consider right now – would be the creation of global institutions for governing the world economy. History tells us that market economies are prone to financial crises, to which the only solution is a strong central bank. During the Asian financial crisis of the 1990s, for example, the Fed played that role.” The idea is increasingly appearing less radical as the world seems to be heading for a completely restructured economic dispensation, along that which is likely to be a messy path.

In this second article on the role of morality - or the lack thereof - in the financial and broader economic crisis in which the world presently finds itself, we take a look at what may be required to turn business management into a true profession via a universal professional oath. Would an oath on its own do the trick to ensure that business, besides maximum profit, also seeks to achieve the greater good of society?

Financial management at South Africa’s municipalities is in a sorry state indeed if only six out of 247 local governments in the country receive clean bills of health from the auditor-general and it can be hailed an improvement. Minister of Co-operative Governance Sicelo Shiceka, however, said that although this figure was deterring, he was confident the department would achieve its goal of having a completely clear audit report by 2014 as part of the Operation Clean Audit Programme.

"The tragedy unfolding on our coast is the most painful and powerful reminder yet that the time to embrace a clean energy future is now," said United States President Barack Obama last week when addressing his nation on the BP oil spill in the Gulf of Mexico. While the disaster has globally put the challenge of developing a new energy regime squarely back on the public agenda, it remains dangerously one dimensional – belying the complexity of the full challenge facing humanity to wean itself off an all-consuming dependency on fossil fuels across the full spectrum of its modern existence.

There is a new twist developing in the adverserial relationship between the Minister of Defence Lindiwe Sisulu and parliament’s Defence and Military Veterans Portfolio Committee over proposed new legislation that, among others, would see the end of unions in the South African National Defence Force (SANDF). This comes on top of a year-long battle between the committee and its member about the minister’s evasive replies to parliamentary questions.

“Worth a read?” is not your ordinary book review; it is a meta-review. In other words, it provides an overview of the opinions contained in a variety of book reviews published in the media at large. This week, we take a look at The Ascent of Money: A Financial History of the World, written by Niall Ferguson and published in June 2009.

Germany faces possibly its earliest exit yet in the 80-year history of the Fifa Soccer World Cup. South Africa could become the first host nation to exit at the end of the first round, and British supporters fear that England may join Germany at the airport – its earliest departure from the global showpiece since 1958.

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Increasing disdain for the tactics displayed by the heavy-handed Fifa, world soccer’s governing body – which is laughing all the way to the bank while showing little restraint or grace when dealing with people remotely ‘disobedient’ to His Highness Sepp Blatter and Fifa regulations – is threatening to overshadow that which happens on the playing field.

The Commission for Conciliation, Mediation and Arbitration (CCMA) gave Eskom until 10h00 on Wednesday, 23 June for internal consultation before responding to revised remuneration demands from three trade unions, after negotiations ended in disagreement on Monday night. If there is not a breakthrough by then, strike action by the unions could begin before the end of the week.

The South African crime picture remains a worrying albeit confusing one, with mixed signals the order of the day since the start of the Fifa Soccer World Cup. Authorities claim that the presence and quick actions of some 55 000 additional police officers put on the streets for the tournament have forced crime levels down, with some foreign and local media reports reflecting a similar sentiment. However, crime stories continue making headlines in negative ways, particularly in relation to the World Cup.

Certain South African rugby writers celebrated the manner in which the Springboks dismantled the highly acclaimed Italians in the scrums during the highly flattering but unconvincing 29-13 victory in Witbank on Saturday. Gurthro Steenkamp, Jannie du Plessis and Bakkies Botha played pivotal roles in ensuring scrumming dominance against an Italian team renowned for its formidable performances in this facet of the game. During South Africa’s triumphant march to the Tri-Nations crown in 2009, there was doubt about their scrumming ability, particularly with John Smit in the tighthead role.