Discussions between Sasbo, Absa and employees are still in their early stages, with 827 jobs potentially at risk. Photo: Supplied

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


1. Confidence hits lowest since September

Power blackouts in February eclipsed the State of the Nation Address (Sona) and the Budget Speech, with business sentiment having fallen to its lowest level in five months in February.

2. Denel not in tailspin over adverse rating

Denel, the government-owned weapons maker grappling with big financial losses, governance and its involvement in “state capture”, claimed yesterday that it remained positive about its future, in spite of a ratings downgrade by Fitch Ratings earlier this week.

3. Absa restructuring puts hundreds of jobs at risk

Absa Group is restructuring its South African retail and business banking unit within months of reducing the division’s management team and rolling out a new strategy.

4. Launch of Microsoft cloud data centres marks new milestone

Microsoft's opening of its first cloud data centres in South Africa today marked a historic milestone for South Africa and the continent as it will allow for faster, more agile business operations and provide access to next-generation technologies.

5. WATCH: Rand struggles to gain traction

Recent weak South African economic data and the uncertainty surrounding the upcoming local general elections are clipping the rand’s potential for gains.

6. Tourism KZN off to world’s biggest exhibit

Tourism  KwaZulu-Natal is preparing for one of the world’s biggest trade shows, ITB Berlin, to network with exhibitors and contacts to drum up business for the province.

7. Standard Bank wins tech innovation award for virtual card

Last night at Africa Tech week, Standard Bank bagged tech invention of the year award for its virtual card. 

BUSINESS REPORT ONLINE