CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Nedbank in R2 billon a year tech splurge
The Nedbank Group said yesterday that it would splash close to R2 billion a year on new technology after it recorded a 27 percent hike in headline earnings on the back of income from its once-struggling Ecobank (ETI) subsidiary.
2. Alibaba's Jack Ma will launch the 'Netpreneur Prize' in SA
Jack Ma, the founder of Chinese e-commerce giant Alibaba, will on Wednesday launch the "Netpreneur Prize" initiative on his first ever visit to South Africa.
3. Amcu goes on the warpath
Platinum stocks wobbled yesterday after the majority union in the industry, the Association of Mineworkers and Construction Union (Amcu), threatened fire and brimstone over Impala Platinum (Implats) plans to cut 13 000 jobs in the next two years.
4. MTN interim results
MTN reported its results this morning, with half-year profit down 7% as a slump in its business in Iran and sales in Nigeria also fell.
5. UJ retrieves stolen R14m from execs
The University of Johannesburg (UJ) will recover more than R14 million from two former executives, who siphoned the money from the institution through several well-calculated acts of fraud.
6. Nationalise mines under care and maintenance - Amcu
The Association of Mineworkers and Construction Union (Amcu) on Tuesday called for the nationalisation of mines under care and maintenance in a bid to create more jobs for South Africans.
7. This Durban building just got sold for just under a R100 million
A Durban CBD building was recently purchased at an auction for just under R100 million.