A customer is shown a new iPhone X at an Apple Store in Beijing. Photo: File

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

1. Ayo buys 55% stake in Sizwe

AYO Technology, the country’s largest black empowerment information technology company, yesterday announced that it had acquired a 55percent stake in Sizwe Africa Group for R165million.

2. Ramaphosa wants smart, connected cities, says sci-tech minister

Cities that are digitally connected and ready to benefit from and contribute to the Internet of Things (IoT) are a priority for president Cyril Ramaphosa and the South African government.

3. How high electricity bills are affecting Durban's poor pensioners

Pensioners at a municipal-owned block of flats in Verulam say they are barely able to keep up with rent but are also  being saddled with high electricity bills because they  are estimated charges and not based on actual usage charges.

4. Business confidence slides to lowest level

South Africa's business confidence slid to its lowest this year in the third quarter, dragged lower by a slump in sentiment in the manufacturing sector.

5. Tekkie Town puts boot into Mr Tekkie in court action

Pepkor subsidiary Tekkie Town has taken legal action to prohibit former senior managers from establishing rival chain store Mr Tekkie as the Tekkie spat continues.

6. Trellidor focuses on Africa growth

Trellidor, the listed manufacturer of barrier security products, custom-made blinds and decorative security shutters, has established a dedicated team to focus on growing the group’s distribution in Africa.

7. Apple to launch new products

Apple Inc. will kick off a blitz of new products this week, ending a year of minor updates and setting the technology giant up for a potentially strong holiday quarter.

- BUSINESS REPORT ONLINE