CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Eskom avoids power cuts for now
Eskom said it would not have to implement controlled power outages, after earlier warning these might be necessary due to pressure on the national grid.
2. Microsoft co-founder Paul Allen dead at 65
Microsoft Corp co-founder Paul Allen, the man who persuaded school-friend Bill Gates to drop out of Harvard to start what became the world's biggest software company, died on Monday at the age of 65, his family said.
3. Stocks take a beating amid growth concerns
The JSE All Share index fell again yesterday, extending its losing streak from last week over growth concerns amid the international trade tensions in spite of the gold mining index inching up more than 8 percent.
4. OPPORTUNITY KNOCKS: Sanral hopes to issue big tenders
The South African National Roads Agency (Sanral), which has issued almost no new tenders this year, was hoping to issue several new major multibillion-rand tenders soon.
5. US posts widest deficit since 2012
The US government closed the 2018 fiscal year $779 billion (R11.8 trillion) in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department.
6. Famous Brands flags R874m impairment
Food stores franchisor Famous Brands yesterday flagged that it had incurred R874 million in impairments for six months to end August, piling pressure on its stock which fell nearly 7 percent to R94.94 in early trade.
7. WATCH: Young fashion designer tops Kenyan entrepreneur competition
Nicholas Kiama has been recognised as Kenya's next young entrepreneur after he won the Radisson Blu Hotel, Nairobi Upper Hill’s #BLUPITCH Elevator contest.