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File Image: IOL

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Aug 30, 2019

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

1. Woolies' Ian Moir sent to get things right in Oz

Woolworths (Woolies) chief executive Ian Moir said he would focus on getting things right at David Jones in Australia as the company yesterday cut dividends for the year to end June to contain debt.

2. Steinhoff companies turn the corner

Struggling global retailer Steinhoff’ International said yesterday that it was on the recovery path after consolidated net sales from continuing operations in the nine months to end-June rose 4 percent to 10.1bn (R171.76bn), with strong contributions from its Pepkor Europe and Pepkor Africa, whose chains include Pep, Ackermans and Incredible Connection.

3. Van der Merwe heads to court to reclaim tax

Candice van der Merwe and her father, businessman Gary van der Merwe, today head to the Tax Court, sitting at the Cape Town High Court, to fight for the R44m paid under protest by Candice van der Merwe in March 2016 to SARS to be returned to her. 

4. Pay up or remain grounded, Acsa tells SA Express

Airports Company South Africa (Acsa) on Thursday confirmed it had suspended state-owned airline SA Express from landing and taking off from its runways as a result of non-payment of airport fees accrued over a period of time.

5. Tito Mboweni’s growth plan is radical but doesn’t go far enough - Saiba

The SA Institute of Business Accountants (Saiba) has applauded Finance Minister Tito Mboweni’s plan to reboot the moribund SA economy.

6. Coega welcomes plans to relocate Port Elizabeth Airport

The Coega Development Corporation (CDC) on Thursday welcomed the Nelson Mandela Bay metropolitan municipality's announcement of plans to relocate the Port Elizabeth Airport to the Coega Special Economic Zone (SEZ).

7. Santam reports 9% growths but still hit by 2018 claims

Leading short-term insurer Santam reported premium growth of 9 percent to R17 billion in the six months to June 30, but the underwriting result was impacted by multiple claim events relative to 2018.


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