CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Rand soars on Trump election setback
The rand and JSE yesterday cheered the news that the Democrats had wrested control of the US House of Representatives from Donald Trump’s Republican Party in a move that might curtail the president’s trade and tariffs agenda.
2. Telkom expands coverage with access to the Vodacom network
Telkom will soon have access to Vodacom’s 2G, 3G and 4G network throughout South Africa after a long-term multi-billion roaming and facilities agreement was signed yesterday.
3. Discovery bigwigs to take home R336m in bonuses
Discovery's senior managers are set for a major windfall after the group’s remuneration committee (Remco) approved R336.6 million bonus payments for the directors and management incentives.
4. Headwinds facing manufacturing are nothing new
All sectors of South Africa’s economy are expected to grow by only 1.7 percent on average year on year and manufacturing, the country’s fourth largest sector, is expected to fair even worse by 2023.
5. #BlackFriday: Retailers go all out to bring best deals
As South Africans prepare for the biggest shopping day on the calendar featuring massive savings taking place on November 23, retailers have started promoting their deals.
6. SA-UAE extradition treaty may see Guptas in dock
DA MPs have accused the Justice and Correctional Services Department of deliberately stalling the signing of an extradition treaty with the United Arab Emirates (UAE), which could have seen the controversial Gupta brothers hauled before courts to account for state capture allegations.
7. Bitcoin volatility sinks to lowest in nearly 2 years
Bitcoin has experienced one of its worst annual price performances of its short 10-year-old life but also appears to have become more stable in the process.