Photo: Simphiwe Mbokazi/African News Agency (ANA)

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

1. Astral Foods ‘hit by imports, dumping’

South Africa’s leading integrated poultry producer, Astral Foods, yesterday highlighted the impact of chicken imports on the local industry after it reported a 68.9percent decline in the operating profit of its poultry division for the six months to end March.

2. #PICInquiry: Former PIC head vindicated after conflict claim quashed

Sakhumnotho founder and chief executive Sipho Mseleku yesterday vindicated former Public Investment Corporation (PIC) head Dr Dan Matjila, quashing Kilimanjaro Capital’s Lawrence Mulaudzi’s claim that Matjila was conflicted.

3. Clover expects turnaround in profit by June

Clover Industries, facing a buyout by a group of international investors, said on Friday that it expected to report a turnaround to profit in the 12 months to June 2019, in spite of numerous operational challenges.

4. Bitcoin vaults above $7,000 level as Crypto rally gathers steam

Bitcoin jumped above $7,000 and didn’t look back, as its longest winning streak since 2013 continued to rekindle the global cryptocurrency market.

5. Tanzania's Coffee Output May Drop 23% Next Season on Drought

Tanzania, Africa’s fourth-biggest coffee producer, said output next season may drop 23% because of a drought and lower crop cycle.

6. WATCH: Rand comes back down overnight

The rand was caught in a tug of war between external factors as US-Sino trade agreement uncertainty dampened risk appetite according to NKC Research.

7. Durban accountant realises Oxford dream

A Life-long dream of studying at a prestigious international university was realised when a Durban-born chartered accountant completed his Masters in Business Administration (MBA), at the University of Oxford, in the UK.

BUSINESS REPORT ONLINE