Eskom chief executive Phakamani Hadebe told the National Energy Regulator SA (Nersa) at the start of nationwide public hearings in Cape Town yesterday, that the utility was on the brink of a financial meltdown. Photo: File.

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

1. Eskom’s request for tariff hike slammed

The Energy Intensive Users Group (EIUG) on Monday slammed Eskom’s request for a 15 percent tariff increase over the next three years, saying the embattled power utility’s business model needed to be relooked.

2. Vodacom’s compensation claim denied as ‘lie’

Vodacom was at the centre of a  social media storm on Monday after it said that it had reached a reasonable settlement amount for former employee Nkosana Makate for inventing the Please Call Me product.

3. South Africa starts 2019 on a stable outlook: Moody's

In a report, Moody's said that South Africa's economy will recover slowly but growth will remain well below levels seen in the first half of the decade. 

4. Muted reaction to ANC’s call for Sarb to be more flexible

The ANC’s call for the SA Reserve Bank (Sarb) to alter its mandate to make provision for employment and economic growth received a muted reaction from the markets.

5. Ramaphosa to meet TeamSA ahead of Davos trip to World Economic Forum

Team South Africa comprises a diversity of stakeholders in the South African society and economy and will participate in the WEF Davos Annual Meetings from January 22 to 26.

6. Fiat Chrysler SA appoints new Marketing Head

Fiat Chrysler Automobiles (FCA) South Africa has announced the appointment of Jason Cleghorn as the new Head of Marketing and Product across the Alfa Romeo, Jeep, Fiat, Abath and Fiat Professional Brands.

7. WATCH: Rand edges stronger against the dollar

The South African currency came under pressure early in the session, as a contraction in Chinese exports dampened demand for emerging-market assets. 

BUSINESS REPORT ONLINE