CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Glitches bedevil JSE’s reputation
The JSE failed to inspire yesterday, shedding nearly 1 percent after a two-hour delayed start to trade due to a “technical glitch”.
2. Capitec reveals intentions to buy Mercantile Bank
Capitec yesterday showed its intention to venture into business banking, tabling a non-binding offer to purchase Mercantile Bank.
3. Liberty shares fall 5% after the cyber attack
Liberty’s share price fell by more than 5% on Monday as the market reacted to the cyber attack on the company.
4. Brimstone rejects false reporting by Sunday Times
Brimstone said in a statement, "The article is grossly misleading, sensationalist, untruthful, inaccurate, unfair and not balanced."
5. The rand is down
South Africa’s rand tumbled to a new six-month low on Monday as concerns over the economy following weekend power outages worsened the effects of a global selloff of emerging market currencies.
6. Uber drivers strike in Jozi over petrol price
A number of Uber and Taxify drivers have threatened to “shut down Gauteng” if their concerns over increases over high fuel prices and costs are not resolved.
7. Superbalist and Spree are set to merge
Online fashion retailers Superbalist and Spree will merge in a new deal announced yesterday.