South Africa - Johannesburg - 11 March 2019 -CEO of Absa Rene van Wyk and Group Financial Director Jason Quinn at the Absa Group 2018 annual financial results. Picture: Dimpho Maja/African News Agency (ANA)

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


1. Absa restructure won't cause job losses

The Absa group has refuted reports that the restructuring in its South African retail and business banking unit will lead to job losses in the future.


2. Socially conscious' manufacturer lands major contract with the Shoprite Group

 Plastic manufacturing and recycling company, Verigreen, has been awarded a multimillion-rand contract to supply 25 different products under the Shoprite Group’s Ritebrand and Housebrand labels. 

3. AYO seeks urgent interdict against CIPC

JSE-Listed  AYO Technology Solutions has filed an urgent application at the high court in Gauteng to interdict the Companies and Intellectual Property Commission (CIPC) from enforcing the compliance notice issued to Public Investment Corporation (PIC) last month for the recovery of R4.3billion invested in the black-owned technology company.

4. WATCH: Rand boasts a more upbeat start

The South African unit failed to consolidate completely on a risk-on sentiment as traders remained cautious.

5. FlySafair passengers can now receive their boarding passes via WhatsApp

FlySafair announced that its passengers will now have the option to send their boarding passes straight to their phones via WhatsApp, once they’ve completed the check-in process.

6. SA metalworkers union says on strike at ArcelorMittal

The National Union of Metalworkers of South Africa said on Tuesday it had gone on strike at ArcelorMittal, accusing the steel company of abusing workers through labour brokers.

7. Comair about-turn on Boeing 737 MAX

n an about-turn, JSE-listed aviation and travel company Comair late yesterday bowed to public pressure to ground its Boeing 737 MAX 8 aircraft.

BUSINESS REPORT ONLINE