File image: Steinhoff. (IOL).
Good morning. This is all the latest business news that you need to know today.

The Marc, a R2.6 billion mixed-use development that is being constructed in Sandton will be home to various offices and shops.

Steinhoff International fell 6.96 percent on the JSE yesterday after its operational hurdles continued with credit insurers in Austria refusing to undersign the company suppliers against losses.

Auditing firm KPMG has blamed the loss of lucrative government contracts for its decision to let go of 400 of its staff as KPMG International ramped up its scrutiny of the local office’s work.

The April data released so far points to weak start for the KwaZulu-Natal (KZN) economy in the second quarter, as electricity consumption fell by 2.3% year-on-year (y/y).

5. Bumpy ride ahead for the rand

The rand started off the week with some gains yesterday, but Dynamic Outcomes head market analyst James Paynter warned that a bumpy ride should be expected as this could not be one-way traffic.

6. Eskom still negotiating contracts for coal to see out winter

Eskom is still involved in negotiating contracts for coal supply to see the power utility through this winter, as coal stockpiles at some of its power stations remain at uncomfortably low levels.

7. Microsoft $7.5bn all-stock deal to buy GitHub

Microsoft said yesterday that it would buy privately held coding website GitHub for $7.5billion (R95.01bn) in an all-stock deal to beef-up its cloud computing business and expand clout among software developers.