Photo: David Harrison

Good morning. This is all the latest business news that you need to know today.

1. Steinhoff rallies after preference dividend is declared

The share price of Steinhoff International rallied by more than 30 percent yesterday, the highest in three months, as the company works to shore up the troubled retailer. 

2. Viceroy hits back over BLSA’s ‘smear piece’ on it

Viceroy hits back over BLSA’s ‘smear piece’ on it  Research yesterday hit out at the research commissioned by Business Leadership South Africa (BLSA) into short-selling activities and conducted by Intellidex, describing it as a “smear piece”. 

3. HR boss the latest of Uber's top brass to fall

 Uber Technologies’ head of human resources (HR) has resigned, becoming the latest high-profile executive to leave the ride-hailing giant just emerging from a year of internal upheaval.

4. South Africa says Saudi Arabia to invest $10 billion in the country, focus on energy

Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, the spokeswomen for South Africa’s president Cyril Ramaphosa said on Thursday.

5. Rand recovers 

South Africa’s rand regained as much as 2% on Thursday.  On Friday the rand was trading at R13.27 to the dollar, R17.48 to the pound and R15.47 to the euro.

6.VAT hike deemed as 'constitutionally suspect' by the SA Human Rights Commission

The Commission described the higher VAT as a regressive tax, and criticised the government’s decision due to the impact it has had on poorer households.

7.WATCH: Opera browser launches its very own built-in crypto wallet

Norwegian company Opera, that you may know as a browser has announced a new version of its smartphone browser that features an Ethereum-based crypto wallet.

- BUSINESS REPORT ONLINE