CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
Nampak revealed yesterday that its profits tumbled 56 percent for the year to end September on the back of R4 billion impairments in Nigeria and Angola and the Covid-19 outbreak.
2. Serious data breach rocks Absa Group
Absa yesterday said that it had been rocked by a data leak after an employee stole personal information of some of the group’s clients, underscoring the need for the tightening of controls to protect the sensitive particulars of bank customers.
3. Legal windfall of almost R500m for struggling SAA
SAA yesterday got a reprieve of almost half a-billion rand after the appeal court dismissed an application by Airlink to compel SAA to return funds it was allegedly not entitled to retain or spend.
Manufacturing production slowed down in November as the reintroduction of Covid-19 lockdowns in Europe affected South Africa’s export activity.
5. Ascendis positioned to respond to health needs
Ascendis Health said yesterday that its businesses were well positioned to respond to the health and wellness needs of customers as Covid-19 continues to be a threat in global markets.
6. Rand rallies after risk mood improves
The rand rallied as risk-on mood swept global markets, outpacing ongoing political and fiscal concerns according to NKC Research.
Vunani yesterday reported a strong surge in earnings for the six months to end August, boosted by turnaround in the securities broking business as well as acquisitions.
BUSINESS REPORT ONLINE