7 things you need to know today
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Adrenna Property make a R1.30 per share cash offer before delisting
Adrenna Property Group will make a R1.30 per share cash offer to shareholders ahead of its plan to delist, management said in a statement on Wednesday.
2. Tekkie Town vendors in new win over Steinhoff
Former Tekkie Town executives have claimed another victory over Steinhoff International after the Western Cape High Court ruled in their favour.
3. Shoprite falls 9%, tanking with other retail stocks as weak spending slices net profit
Shoprite Holdings fell sharply on the JSE on Wednesday, tanking with other retail stocks, as weak consumer spending in a stagnant economy sliced its net profit nearly 20 percent.
4. Assets managed by black-owned firms surge 18% to R579bn
The 27four Investment Managers’ 2019 edition of BEE.conomics, an annual survey aimed at gauging the rate of transformation in the asset management sector, showed that assets managed by black firms surged 18 percent from last year to R579 billion.
5. Feenix platform connects students with businesses who donate funds for tertiary education
Crowdfunding platform Feenix is connecting students with businesses and individuals who are able to donate funds to their tertiary fees.
6. WATCH: Rand appears vulnerable as it hovers near 11 month lows
The South African rand traded on a more bullish tone during the European session, mainly benefitting from dollar weakness – but appeared vulnerable as it hovered near 11-month lows according to NKC Research.
7. Labour Department aims to reduce pay gaps wants salary information from companies
The Department of Employment and Labour wants employers to provide information on salary differentials between their top earners and lowest paid workers to help it work towards reducing remuneration gaps, a senior official told a workshop in Kimberly.