We take a look at the latest business news this morning and top stories from our newsrooms across SA, Africa, and the world. Photographer: Nadine Hutton/Bloomberg

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

1. Vodacom, MEC Lesufi advance efforts to promote digital school management

The Gauteng member of the executive council (MEC) for education and youth development, Panyaza Lesufi, together with Vodacom on Wednesday handed over upgraded reporting devices to principals across the province. 

2. Rand plunges as possible downgrade, global recession fears take their toll

The rand weakened further on Wednesday as jittery investors dumped government bonds and stocks on growing fears of a possible downgrade by Moody’s and poor industrial output data from the US and China that stoked fears of a global recession.

3. Higher retail sales signal South Africa may have dodged a recession

Retail sales ticked up in June, signalling that the economy evaded a recession in the second quarter following the first three months’ shock 3.2 percent plunge in gross domestic product (GDP).

4. Peter Moyo renews bid to force Old Mutual to comply with court order

Axed Old Mutual chief executive Peter Moyo has launched a fresh legal battle to get his job back.

5. Safari shares surge after bid is called off

Fairvest Property Holdings has opted not to pursue a merger bid with Safari Investments RSA, after most of Safari’s shareholders declined Fairvest’s offer. 

6. Improved cybersecurity laws needed to deal with rising SA cybercrime

Cybercrime is a growing endemic globally. It is a crime in which the perpetrators are shrouded with a significant veil of anonymity and which affects both individuals and corporations in both the public and private sectors, respectively. 

7. Mabuza meets National Planning Commision on the township economy

Deputy President David Mabuza on Wednesday held a meeting with commissioners of the National Planning Commission’s project team on township economy, the Presidency said in Pretoria.