Picture: Karen Sandison/African News Agency(ANA)

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

1. Nedbank is looking for a new managing director for Zim unit

Nedbank is looking for a new managing director (MD) for its Zimbabwe unit after flighting an advertisement for the post, with employees at the financial services company saying current MD, Charity Jinya, will finally be leaving the company this year.

2. Mercedes also under pressure as diesel issues bite

Mercedes parent company Daimler cut its 2019 earnings outlook on Sunday after lifting provisions for issues related to its diesel vehicles by hundreds of millions of euros.

3. Safe haven appeal drives gold shares rise

Gold mining company share prices received a hefty boost from the rising gold price last week, after the yellow metal/dollar spot price hit a six year high on Thursday, due to expectations of interest rates cuts in the US, weakening global growth, and rising trade tensions.

4. MultiChoice retrenchments add to private sector jobs bloodbath

The jobs bloodbath gathered steam on Friday, with newly listed MultiChoice saying nearly 2 000 jobs were on the line at its call centre as consumers switch to digital platforms.

5. Players welcome Ramaphosa promise

South Africa’s telecoms networks Vodacom and MTN have welcomed President Cyril Ramaphosa’s commitment that the broadband spectrum allocation process would begin in the next 30 days.

6. More than 200 miners stay underground in protest

More than 200 employees at Lanxess Chrome mine in Rustenburg have staged an underground sit-in to protest against the sexual harassment and victimisation of a female worker.

7. WATCH: Rand trades steady against the dollar

The rand traded on the front foot during the early European session despite an underwhelming State of the Nation Address (Sona) on Thursday according to NKC Research.  

BUSINESS REPORT ONLINE