CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Land Bank raises R1.5bn without a hitch
The weak economy and uncertainty over the government’s controversial plans to expropriate land without compensation did not stop the Land Bank from raising R1.5 billion in a bond auction this week.
2. Rand surge eases interest rate hike fears
The rand yesterday basked in a favourable August inflation print which surprised on the downside and eased fears that the SA Reserve Bank (Sarb) would hike interest rates today.
3. Haunted by Steinhoff implosion Phumelela boss calls it quits
Phumelela Gaming and Leisure chief executive Rian du Plessis yesterday resigned, as fears mounted that the horse racing and betting group risked being tainted following the implosion of retail giant Steinhoff International.
4. Gateway opens for Transnet suspensions
The Pretoria North High Court yesterday provided a boost to Public Enterprises Minister Pravin Gordhan’s continuing tussle with Transnet after it dismissed as ‘rather vague’ former board member Seth Radebe’s bid to be reinstated.
5. FNB helps future homeowners through employer-backed partnerships
FNB is partnering with various stakeholders to create more opportunities for first-time buyers own their dream homes.
6. Battle won, but war not over to get full legislation, says 'Dagga Couple'
The “Dagga Couple” have set their sights on a mass class action against the state, to free those who have criminal records for the possession of dagga.
7.
The JSE yesterday moved to secure the integrity of the country’s financial markets after a torrid few months which have seen corporate scandals become the norm.