Photo: File
Photo: File

7 things you need to know today

By Dhivana Rajgopaul Time of article published Nov 10, 2020

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

1. Multichoice sees 45% jump in half-year profit

Multichoice Group said on Monday its core headline earnings per share (HEPS) for the half year that ended Sept. 30 will be between 40-45 percent higher than the corresponding period last year.

2. Patel expects sharp decline in foreign direct investment in 2021

Trade, Industry and Competition Minister Ebrahim Patel has warned that South Africa’s foreign direct investment will experience a sharp decline next year as the Covid-19 pandemic has driven the appetite for new investments to an all-time low.

3. Rand trades on the front foot

The South African rand welcomed news that president-elect Joe Biden will take over the US political reins – despite pushback and election fraud allegations from Trump – and applauded Pfizer’s announcement that its vaccine prevented 90 percent of infections.

4. Reintroduction of flights is the first step for Comair

Comair said on Monday that the reintroduction of flights on the domestic network was the first phase of its ramp up to full operations over the next few months.

5. SA wage bill at R630bn is higher than the global norm as a percentage of GDP

The average remuneration of public servants in SA is high by international standards and when compared to private sector employees and per capita gross domestic product (GDP), according to a report by Intellidex, a leading capital markets and financial services research house.

6. Liberty reviews executives’ incentives

Liberty Holdings has asked its remuneration committee to review its executives’ long-term incentive (LTI) schemes following the Covid-19 outbreak, which impacted its business.

7. Navigating the Covid-19 minefield of Black Friday 2020

If you are wondering if Black Friday is going to be very different this year, the answer is a resounding yes!


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