Photo: Simphiwe Mbokazi African News Agency (ANA)

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

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Moody's yesterday issued its strongest warning yet that the country was fast slipping into junk status as continuing structural weaknesses and rising debt overran South Africa’s ability to service its obligations.

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Pharmaceutical company Dis-Chem fell more than 5percent in early trade on the JSE yesterday after the group reported that the five-month strike at its stores pushed profits below estimates for the year to end February.

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The introduction of underground Wi-Fi has improved productivity and working conditions for hundreds of miners at Anglo American’s coal mining operations in Mpumalanga by enabling two-way communications between miners working underground and staff on the surface.

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The SPAR Group yesterday said that it lifted on the performance of its liquor division Tops during six months to end March, reporting double-digit growth of 19.3 percent in wholesale sales to R4billion.

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Group Five, the construction group in business rescue, said yesterday in its first update to shareholders that business rescue proceedings were progressing well. 

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Transaction Capital yesterday reported strong growth with headline earnings increasing 17percent to R363million in the six months to end March on the back of divisional resilience in a constrained macro-economic environment.

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Consumption of soft drinks in Zimbabwe has gone down after the country's biggest beverages manufacturer recorded a 44 percent decline in volumes for fizzy drinks although there has been competition from a new bottler of Pepsi products in the country.

BUSINESS REPORT ONLINE