South Africa - Pretoria - 13 June 2019 - Public Investment Corporation (PIC) board member Sibusisiwe Zulu at the PIC Commission of Inquiry. Picture: Jacques Naude/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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Embattled international retailer Steinhoff has said that it would continue the disposal of some of its assets and cut jobs as it battles to stabilise its finances.

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The South Africa cement industry is calling for the International Trade Administration Commission (Itac) to probe a flood of imports. 

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The Minister of International Relations and Cooperation, Dr Naledi Pandor, has arrived in Dar es Salaam, Tanzania, were she is leading a South African delegation at the Southern African Development Community (SADC) Council of Ministers on Tuesday and Wednesday.

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JSE-listed Transpaco’s full year earnings are expected to decline by at least 45 percent for the year to end June, hit by a prolonged strike, depressed consumer environment and a weak South African economy.

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Allegations of corruption at the Public Investment Corporation (PIC) contained in the anonymous emails from an alias James Nogu were on Tuesday brought into question after a lifestyle audit conducted by PricewaterhouseCoopers (PwC) found they had no merit.

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The Association of Mineworkers and Construction Union (Amcu) is headed for a showdown with platinum producers after it rejected wage offers tabled by the country’s top miners on the back of rising platinum group metals (PMG) prices. 

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National enterprise developer the Industrial Development Corporation (IDC) yesterday joined the growing list of struggling state-owned entities that are nearly broke, flagging that its net income fell 78 percent to R720 million during the year to the end of March from R3.2 billion a year earlier.

BUSINESS REPORT ONLINE