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

1. SA Chamber's data shows business confidence waned in May

South Africa's business sentiment and conditions deteriorated in May, data from the South Africa Chamber of Commerce and Industry (Sacci) and Standard Bank showed.

2. SA should reconsider the retirement age Institute for Futures Research says

The University of Stellenbosch’s Institute for Futures Research (IFR) said that South Africa might have to reconsider the retirement age and keep those over it economically active.

3. MTN quashes reports of PIC interference

The MTN Group has moved swiftly to quash reports that, among its biggest shareholders, the Public Investment Corporation (PIC) is influencing changes in its board, including the ousting of executive chairperson Phuthuma Nhleko. 

4. 'Ace Magashule is lying': ANC's Reserve Bank squabble intensifies

The fight within the ANC over the expansion of the mandate of the SA Reserve Bank (Sarb) intensified on Wednesday, with Cosatu calling for the Constitution to be changed to allow it.

5. Sibanye cuts cash-bleeders, sheds 3 400 jobs

Sibanye-Stillwater on Wednesday cut its cash-bleeding gold shafts and shed more than 3400 jobs as part of the restructuring of its gold operations in South African.

6. Tambo Springs terminal a big boost for SA construction

South Africa’s embattled construction and manufacturing sectors received a major boost yesterday after state-owned freight logistics utility Transnet awarded a multibillion-rand contract to construct Tambo Springs Intermodal Terminal in Gauteng.

7. With high unemployment, tourism entrepreneurship is the way to go

A report released by Airbnb last September found that the guest activity on the platform in South Africa supported more than 22 000 new jobs and generated an economic impact of $678 million (R9.9 billion) over one year.

BUSINESS REPORT ONLINE